“The FDIC's latest Quarterly Banking Profile shows that the banking sector remains strong amid continued economic uncertainty. In the final three months of last year, the industry continued to support consumers as well as businesses big and small through near-record annual loan growth.
“Credit quality remained above pre-pandemic levels despite elevated inflation, but given the uncertain economic outlook banks have been prudently shoring up loan-loss provisions. Banks have increased provisioning by more than 87% to $20.7 billion over the past two quarters as they continue to monitor delinquency trends.
“As FDIC Chairman Gruenberg noted, the banking industry remains well-capitalized and highly liquid. That strength will help the nation’s banks weather potential headwinds as inflation and geopolitical risk persist.”
About the American Bankers Association
The American Bankers Association is the voice of the nation’s $24 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19 trillion in deposits and extend $12.4 trillion in loans.
Press Contact
All inquiries from the press can be directed to one of our press contacts.
Hi-Res photos for use by the press.
Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.
Complimentary press registrations are available for select events.
Want to be added to our news release list? Sign up here.
Get ABA press releases via RSS.