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Why Banks These Days Are So Excited About Being Boring
A year after SVB’s failure, regional lenders have embraced stodginess as a virtue.
06 May 2024, 12:23 PM IST
(Bloomberg Businessweek) -- In March, PNC Financial Services Group Inc. introduced TV ads and plastered signs across its branches arguing that it’s “brilliantly boring.” On an April conference call, Fifth Third Bancorp Chief Executive Officer Tim Spence boasted that the lender’s results were “boring.” And on April 25, Frank Namdar, chief credit officer of Columbia Banking System Inc., described his property loan portfolio as “really ...
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