US Bancorp Q1 Provision For Credit Losses $553M, Up From $427M YoY
Portfolio Pulse from Benzinga Newsdesk
US Bancorp reported a Q1 provision for credit losses of $553 million, an increase from $427 million year-over-year.
April 17, 2024 | 10:49 am
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US Bancorp's Q1 provision for credit losses increased to $553 million from $427 million year-over-year.
The increase in provision for credit losses suggests that US Bancorp is expecting higher loan losses, which could be a negative signal for investors. This anticipation of higher credit losses could lead to concerns about the bank's asset quality and profitability, potentially impacting its stock price negatively in the short term.
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