In the competitive landscape of banking, executives report today that they are actively seeking ways to reduce costs. The focus is on identifying the largest opportunities for cost reductions.
The Federal Deposit Insurance Corporation (FDIC) released second quarter 2024 data that shows for the first time since the third quarter of 2007 that interest expense in the banking industry is greater than all other non-interest expenses combined! Interest expense for the quarter was $144.1 billion while all other non-interest expenses were $143.9 billion. You can check out the data yourself at https://lnkd.in/g33JcerK
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Neil Stanley
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