BANK OF AMERICA CORPORATION-18.90%: 289 449: INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-13.18%: 205 449: WELLS FARGO . Our headcount this quarter increased by 3,500. Our job is to drive our company to serve our customers in that first order of business for our capital has always helped the growth in the balance sheet, especially on the lending and market side. Year-over-year expense declined, reflecting the absence of costs associated with the realignment of liquidating business activity that we took in the fourth quarter of '21, and the business generated a 10% return in the third quarter. So, there's an inherent conservatism built into that reserving level. You can see that nobody is a big part of it. We'll go next to Glenn Schorr with Evercore ISI. Maybe just on NII. That included just less than 3,000 across our various lines of business and another 1,000 in staff and support and technology positions to support those lines of business. OK. And that's the high watermark of the year, right? And it'll depend on that as we look forward. There is no terminal efficiency ratio. And, you know, those come down a little bit. Inflation, continued geopolitical tensions, and the changing monetary policies of central banks around the world continue to drive volatility in both the bond and equity markets. And looking at those loans and providing a bit more detail on a year-over-year basis, you can see 12% average growth as commercial loans grew 17% and consumer loans grew 7%. The next question comes from John McDonald with Autonomous Research. Those are not huge numbers. Expenses increased 2%, driven by continued client-facing hiring and higher other employee-related costs, as our advisors are increasing their in-person engagement with clients. And so we don't -- I think if you think about just this year's third quarter '22 versus third quarter '21, if you take out the litigation, there's about $600 million increase in expenses year-over-year, $100 million of that is marketing. PDF . We drove our operating leverage. Good morning. And I think the team can probably help you model that at some point. Please note, this call may be recorded, and I'll be standing by if you should need any assistance. And it's nice to bring resolution to these matters. Then we look customer-by-customer and anticipate who is going to be needing money in terms of refinancing, but also in terms of just operating like we did during the pandemic in with every single loan, a company with $5 million of revenue more in our company on a quarterly basis for what I'm sure we had it. We obviously took activity on balance sheet optimization, which helped our RWA discussion and have -- that lead us to RWAs and led to the capital levels I talked about earlier. Switching to Global Markets on Slide 18. So the current ratio of delinquencies have to be worse than 30% or more to even approach that five-year pre-pandemic average at a time of economic growth and falling unemployment. Second, Consumer customer average deposit levels for September 2022 remain at multiples of the pre-pandemic levels. Second, our corporate service charges declined as earned credit rates increased for clients, and that overwhelmed organic growth and the gross fees associated with treasury management services performed for our clients. We saw good commercial loan demand, and we also saw FX valuations adjustments as a result of the strong dollar, and then some loan sales and syndications that lowered our RWAs. And you can see that in the supplement. How much were those in the third quarter? And what allows us to help pay for these investments are the operational process improvements we've talked about and the increased digital adoption rates by our customers and by our bankers. But I think you should assume a little bit third quarter, most all in fourth quarter. And we hired another 3,800 net new people on top of that. This quarter was a little bit of a 90-day reset for us in some ways. Now once again, you can find all these digital statistics and more in the appendix of our earnings material as usual. And then, third, we've got an opportunity to restrike our balance sheet at higher rates with every opportunity now, as things come off of our existing securities portfolio. On the commercial side, given what we're all facing in this potential real buzzsaw of the economy, how do you approach risk and what business to take on? Let me also make a few points using the customer activity highlighted on the continued resilience of Bank of America's broad customer base. And with that, I'm going to stop there and open up for Q&A. Gerard, I think, too, if you -- if you went back through our supplement over the course of the past 10 years, you're going to find these numbers are so low. Get this delivered to your inbox, and more info about our products and services. We expect adjusted earnings per share in the fourth quarter to be in the range of $4.20 to $4.30 versus adjusted EPS of $3.37 a year ago. We obviously took activity on balance sheet optimization, which helped our RWA -- discussion -- helped our RWAs and led to the capital levels I talked about earlier. Service charges, most importantly, on the consumer side, all the NSS FOD [Phonetic], we're now at the steady-state run rate. So we're going to start on Slide 2 of the earnings materials. So there's no one answer for the whole team. It was a little more this quarter because we actually had an opportunity to sell some securities that offset some gains, some losses and freed up some RWAs. So we feel that we've got the right mix, and we all look at benefits continuously. Can you give us a sense as to what kind of pull the par we should be thinking about for the model on the ASCI hits that you've had to take how many quarters or years should we be thinking that gets raised over? So, I would think about it this way. That reflects cash flow hedges mostly put in place last year against some of our variable rate loans, and that protected us against CET1. At the same time, however, our asset quality remains strong as net charge-offs and several other metrics, in fact, improved from the second quarter of 2022. Thanks. This quarter, Bank of America reported $7.1 billion in net income or $0.81 per diluted share. Just I ask this for someone else if they didn't really know. It's in the numbers. Your line is open. This quarter, we sold $1 billion of loans in consumer and wealth and maybe $1 billion in Global Banking. And so we're seeing improvement in the credit book even though all of the trade horribles that youve sort of alluded to, and it wouldn't take a perspicacious person to lead to see that because it's in the paper every day. Last year, profits were. So, I think for your model, Matt, I would use 700 million of an after-tax loss for the fourth quarter as the most likely. PDF . Let's focus now on deposits using Slide 10. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). And you'll see -- if you look at our numbers, you'll also see the Global Markets, just the way that the customers are demanding balance sheet, the balance sheet is still growing, but the RWAs are a little bit lower. Bank of America (symbol BAC) reported Q3 2020 earnings on October 14, 2020. But I'm curious, you're a prime and super prime bank in consumer lend, you gave us enough details. So we're letting that NII pull through, which then drives those numbers in. In the wealth management business, we added 400 advisors this quarter. Well, on the loan side, I'd say, you know, we talked about it at the beginning of the year that we thought loans would be high single digits. Hi. And we've seen the mix of interest-bearing deposits move from 30% a year ago to nearly 35%, and we're paying an increased rate on those interest-bearing deposits. We continue to make steady investments in our people, technology, marketing, and financial centers. So we've got that in our forecast, we sort of resume the path that we've been on. Read the full conference call transcript here. And as we would just note, relative to the last cycle, the Fed increases have been pretty rapid, and we'd expect to pay higher rates as we continue to move through this rate cycle. We're still lower pre-pandemic. The net interest yield was 2.06% and that improved 38 basis points from the third quarter of '21. So, it's not big, but it's important for us just to make progress in different areas. But I was just curious if you had any thoughts about how the Basel III endgame might play out and the timing of implementation of that? So the current ratio of delinquencies have to be worse than 30% or more to even approach that five-year pre-pandemic average at a time of economic growth and falling unemployment. Assuming forward curve is realized? My. First, in consumer, we completed the sweeping changes around insufficient funds and overdraft in June, marking a 90% reduction from June of 2021. I'm going to first turn the call over to our CEO, Brian Moynihan, for some opening comments, and then I'll ask Alastair Borthwick, our CFO, to cover the details of the quarter. But we have on stress test to test it to make sure. But we pay for by not investing and hoping something happens. On noninterest income, the volatility and the levels of market activity drove a year-over-year decline in investment banking and asset management fees, while still some trading benefited from investments made in the business and the volatile market conditions. Other 40% is downside scenarios that we built. The consumer deposit betas are outperforming for you and for some others. And if you look at, you know, small business, originations are going up. [Operator instructions] I would now like to turn the . Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Versus the second quarter, NII is up $1.3 billion, driven largely by the same factors, plus an additional day of interest in the quarter. Yeah. Pricing is largely customer-by-customer based on the depth of relationship and many other factors. Turning to asset sensitivity and focusing on a forward yield basis. Of note, the bank's evolving provision for credit losses showed the company was beginning to factor in a more harsh economic outlook. Get daily stock ideas from top-performing Wall Street analysts. On income tax expense, I just want to mention one thing that made our tax rate a little higher this quarter. And so I wouldn't expect exactly the numbers, but if you saw we built a bunch of reserves with a 15% unemployment. If they remain unchanged for the rest of the year, this would be only the first time since 1976 that both equity and bond markets were down for the year. Can it kind of keep growing from sort of the Q4 level through next year? But a major part of it, frankly, is getting -- even though we have less branches year-over-year, less numbers of units, we have more people in them because we continue to build out the relationship management capabilities at branches. And that was offset by client paydowns decrease in the value of foreign denominated loans and loans sold to manage our risk-weighted assets, which helped us build the capital levels I talked about earlier. Candice and her team have negative growth this quarter, but the fourth quarter and the first couple of quarters next year, obviously negative growth. Welcome. We obviously took activity on balance sheet optimization, which helped our RWA discussion -- helped our RWAs and led to the capital levels I talked about earlier. Turning to Slide 11 and net interest income, on a GAAP non-FTE basis, NII in Q3 was 13.8 billion. Your line is open. So, last quarter, when we were together, we told you we expected to see consecutive NII increases of about 1 billion in Q3 and another billion in Q4. Let me take a couple of minutes to talk to you quickly about the balance sheet, and I'll turn it over to Alastair. Yeah. Taking out the litigation, it would have been 61%. It's probably too early to say right now if at the end of that cycle, the percentage of those rate pass-throughs will be similar to the last cycle. I heard you loud and clear on the 61 billion-plus litigation settlement for a full year 2022. And I guess I'm thinking, you know, if you look globally, there's some peers that are moving to build capital, so maybe there is some opportunity for further share gains in areas like markets and global banking. Meanwhile, Merrill Bank deposits and deposits with Private Bank have grown $12 billion. We call that responsible growth. On Slide 5, we show you as we did last quarter, some other stats about resiliency. We did sell some loans. With that, I'll turn it over to Alastair. And while still strong in September at 10%, spending growth has slowed just a bit by 12% year to date pace, which shows you that early in the year, a faster year-over-year growth rate. Okay. Today, we reported earnings of CAD3.2 billion, a strong pre-provision pre-tax earnings of over CAD4.7 billion added to our capital buffer this quarter, while absorbing the impact of higher PCL and lower interest rates. We run those through the P&L every week, as you know. Good morning, guys. Partially offsetting some of the strong card growth in consumer loans, we sold about $1 billion of residential mortgage loans. Yes. It has become a primary interaction method for our clients with more than 130 million interactions this quarter alone. 7 Stocks to Buy to Outrun Rising Interest Rates, Copper Penny Holds Key To Growing Your Wealth In 2023, A One Stop Shop for Everything Futures Trading. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. So, we're bouncing around low 15s, and we expect that run rate to kind of hold. And then most of the RWA optimization, Glenn, that we've been doing is pretty quiet. Finally, on Slide 19, we show All Other, which reported a loss of $281 million, declining from the year ago period, driven by the litigation settlement that I noted earlier and higher tax expense. This drove the effective tax rate a little higher this quarter to more than 14%, still obviously benefiting from our ESG investment tax credits. ET. And again, there's investment in consumer -- commercial bankers. Long-term interest rates on mortgages have increased even more than short-term rates, and that's improving fixed rate asset replacement and driving down refinancing of mortgage assets, therefore, slowing the recognition of premium amortization recognized in our securities portfolio. This year, we're on 3.3 [Phonetic] next year, we move up 15%, 3.4 [Phonetic] or something like that. And, you know, if the economy does, in fact, change, you know, how weighted are you already to an already worsening scenario? Let me first talk about the leverage financing. Looking forward, as it relates to NII guidance, I'd like to make a couple of comments. We've said that we start growing in the 1% to 2% category, and that's part of these types of inflationary things that you're mentioning, which are higher now and then working it down over time. Many of the clients prefer that earnings credit adjustment as the way that they essentially, you know, pay interest, receive interest, and then pay fees. Presentation Operator MessageOperator Good afternoon, ladies and gentlemen, and welcome to the Q3 2022 Conference Call of Raiffeisen Bank International. And we'll examine the further effects of these changes and how they impact full year 2023 and report on that next quarter. And so I wouldn't expect exactly the numbers, but if you saw we built a bunch of reserves with a 15% unemployment. The consumer bank earned 3.1 billion on good organic growth and delivered its sixth consecutive quarter of operating leverage, while we continued heavy investments for the future. 2 Stocks Down 19% to 51% to Buy Right Now. And that means, unless charge-offs take up, you're going to see the reserve build start to mitigate because sort of we're sitting there a pretty conservative scenario now. We'll just have to see how some of the ins and outs play in terms of some of the stuff running off this year still left over then. Okay. But remember, we are now sitting above what we are supposed to be sitting at on 01/01/2024. Can you give us a sense as to what kind of pull the par we should be thinking about for the model on the ASCI hits that you've had to take how many quarters or years should we be thinking that gets raised over? Market Data powered by QuoteMedia. And so -- but yes, through the core operational excellence, discipline this company has and has shown, as I said earlier, seven years later, we have the same number of people. That, we just marked through our numbers. Because, obviously, when the person doesn't pay you, the FICO is going down de facto. But a major part of it, frankly, is getting -- even though we have less branches year over year, less numbers of units, we have more people in them because we continue to build out the relationship manager capabilities and branches. And as we would just note, relative to the last cycle, the Fed increases have been pretty rapid. Revenue net of interest expense jumped to $24.61 billion, on a non-GAAP basis. Given the change noted for solar investments, we expect the fourth quarter tax rate to be similar to the third quarter tax rate and we'll examine the further effects of these changes and how they impact full year 2023 and report on that next quarter. While our reported earnings were only modestly up year-over-year, pretax pre-provision income grew 12% year-over-year which highlights the earnings improvement coming through without the impact of the reserve actions. Yes. Thank you. And as they roll off -- and remember, there's like $15 billion of them roll off every quarter, we can replace those with treasuries at a higher yield. Second, we're anticipating -- loans growth is still pretty good at this stage. (Ad), This Skill Could Change The Way You Trade! You know, honestly, each quarter has had a little bit of something in it, John. Very good. Look, we're in a good position on capital even after the increased stress capital buffer results, which surprised our industry and our company, and we appealed that, as you well know, and didn't get relief, but we hope its looked at in the future. Adjusting for the FX impact and loan sales, loan growth from Q2 was closer to the industry's growth rate. Our efficiency ratio this quarter dropped to 62%. As we think about the timing of the tax credits being pushed out, driving the tax rate slightly higher. And that's where it comes down to also using the technology investments and operational excellence investments and continue to reduce the aggregate number of people we have working and pay those talent teammates we have even more that they work. Absent those losses, net charge-offs were relatively stable with the prior period. Let me first talk about the leverage financing. As you'll recall back in -- last quarter, we talked about our June CCAR results, where our stress capital buffer increased from 2.5% to 3.4%. And the digitization of all the operational process in the company is what you see on Slide 22 on the consumer side. And we expect it to maintain and grow. Expenses this quarter were 15.3 billion, and they included the settlement of our last large remaining legacy monoline insurance litigation. The -- So, you know, we bought back shares this quarter and still grew the capital. We call that responsible growth. For the full year 2022, we now expect . AOCI declined $4.4 billion as a result of the increase in loan rates, and we saw the impact primarily in two ways. So, even though we're taking back up, the word "normalization," you know, I ask people to be careful because we're moving back to what was all-time lows, and we're not even there. You know, how long can you keep that going? Well, that's going to differ by customer base, and I don't want to get into this on this call just because it's competitively important for us, obviously. OK. And then, maybe as a follow-up, you guys have done a pretty great job on hedging AOCI risk in the AFS book. And that's how we can take the managers in that time period I gave you the headcount slot, the managers came down 10,000 people in that period of time. If you have an ad-blocker enabled you may be blocked from proceeding. And the provision increase reflected reserve builds for this period, mostly for card growth versus our reserve release in third quarter of '21. Good morning. Appreciate the color. Yeah. That included just less than 3,000 across our various lines of business and another 1,000 in staff and support and technology positions to support those lines of business. We did a 3, 5 and 7 merit increase for everybody under $100,000 in compensation based on years of service. First, consumers continue to spend at strong levels. Yeah. Yeah. So expectation for that to persist, meaning flat expenses year-on-year as we go into '23. Yes. Turning to the numbers. When you think about loans, consumer loan balance growth was led by card and reflects increased market and continued reopening of financial centers, building high levels of new customer relationships. While flat year-over-year, within that, we saw a $12 billion decline in year-over-year average deposits on our brokerage platform with some shifts from sweeps to preferred deposits within the platform. Please note, this call may be recorded, and I'll be standing by if you should need any assistance. And around balances, I think there's a sense that the industry will be flattish, maybe down. So we've got that in our forecast. And we make sure we test that continuously with our credit review team under Christine Katziff and Jeff Greener's team. And there's only one point I want to make looking at this slide, and that is delinquencies. Let me just summarize for the third quarter 2022. And we built the capital to the end state 1,124 levels that we need. Without the costs associated with the resolutions in both periods, expenses would have been just less than $15 billion. Second, consumer customer average deposit levels for September of 2022 remain at multiples under pre-pandemic levels. BANK OF AMERICA CORPORATION-18.90%: 289 449: INDUSTRIAL AND COMMERCIAL BANK OF CHINA . These are core and foundational elements of the customers' financial activities. So that's adding gross fees. And so next year is already here. Transcript : Bank OZK, Q3 2022 Earnings Call, Oct 21, 2022: CI. Your line is open. The noninterest bearing deposits are down 3%, while the interest bearing are up 4%. Our net charge-offs remain low and stable. Just another -- just a question or two on fees. This conference will be recorded. And so next year is already here. And with regard to expenses, they increased 5% year-over-year, driven by continued investments in the business. But we hope it's looked at in the future. OK. Well, thank you for all your questions and your attention. And the good news is we're seeing the attrition rate move. Focusing on FTE, net interest income increased $2.7 billion from Q3 '21 or 24%, and that's driven by benefits from higher interest rates, including lower premium amortization and from loan growth. And we believe that really for three reasons. You've done a great job at being on the front foot with regard to minimum wage increases in your shop. It moves even higher than that next year, just to give you an idea, it's sort of in the mid 5s, just to give you a general sense. And then also, Alastair, just the pace of deposit mix shift and betas that you're kind of building into your outlook would be helpful. And we've been investing heavily over the past year in several macro businesses that we identified as opportunities for us, and we were rewarded this quarter. And while still strong in September at 10%, spending growth has slowed just a bit from the 12% year-to-date pace, which shows you that early in the year was a faster year-over-year growth rate, but still strong. What betas -- where do you expect betas to get to? Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Bank of Americawasn't one of them! We had organic growth in all businesses. Let me make a couple of key points. But we're sitting closer to what we call CECL day one and pandemic, you know, implementation. So there's a couple of things that are going on there. Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsement. | 4 december 2022 So there's a lot that goes into RWAs, but it's a $1 billion here, $1 billion there. The highlights this quarter were also once again marked by good organic customer activity. That was driven by a $46 billion decline in deposits and coupled with a $53 billion decline in securities. And through the good work of our teams, we improved our CET1 ratio by 49 basis points compared to June 30, taking us to 11%. Transcript : KBC Group NV, Q3 2022 Earnings Call, Nov 09, 2022. We do it every week. Well, we're obviously modeling in probably the same thing you are. And that increased our overall CET1 ratio minimum requirement from 9.5 to 10.4 as of the beginning of the fourth quarter. In wealth management, total deposits are flat year over year. This quarter, we sold 1 billion of loans in consumer and wealth and maybe 1 billion in global banking. It's probably too early to say right now if at the end of that cycle, the percentage of those rate pass-throughs will be similar to the last cycle. We've now earned over $25 billion for the first nine months of. Bank of America's CEO Discusses Q3 2013 Results - Earnings Call Transcript October 16, 2013, 9:51 AM Bank of America Corporation (BAC) Q3 2013 Earnings Conference Call October 16,. And, you know, they are very stable, important customer base, as all of our customer bases are. Bank of America's quarterly revenue was in line with consensus estimates, rising 9.8% from the. This quarter, GWIM opened a record number of bank accounts. Or do you think you could manage the heavier buyback activity as you build to that 11.4% CET1 by January 1, 2024? So it will pretty quick to be this side at the end of year. I hope everyone also had a chance to review our earnings documents released earlier this morning. And then, on top of that, you know, the amount of physical plant change in that time is huge, not only in our branches but all over our companies. Yeah. Every business segment delivered operating leverage. Okay. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. So the short answer is yes, we believe so. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. | 4 december 2022 The reserve build in the quarter primarily reflects good credit card loan growth and a dampened macroeconomic outlook. As Brian shared earlier, we've got organic growth across the checking accounts, the card accounts, and investments picking up this quarter, not necessarily because of anything we're doing differently in the past 90 days, but as a result of many years of retooling and continuously investing in the business. We invested all in front-line people to help serve our clients. We saw solid net flows despite the turbulence of markets. The highlights this quarter were also once again marked by good organic customer activity. Do we expect deposit rates to increase? And with all the great benefits and talented people already at this company and with our great brand, it highlights that Bank of America is a great place to work. And in this particular quarter, just to give you an idea, Ken, once again, we increased our forecast for inflation in that scenario. Oct 17, 2022 8:30 am ET . But this quarter, we didn't feel that we needed to. Year-over-year, that premium amortization has improved $1 billion. Second, rates also drove a $3.7 billion decline in AOCI from derivatives, and that does not impact CET1. We have provided an update in the appendix as to the credit transformation of our loan portfolio and a few other consumer credit slides to help illustrate the quality of our portfolio under years of responsible growth. But if Tom Scrivener runs our operations group, sees a lot of stuff ahead of he can take out. Just a couple of questions, Brian and Alastair. Another chunk is -- another couple of hundred million dollars is technology. Absent those losses, net charge-offs were relatively stable with the prior period. And as they roll off -- and remember, there's like $15 billion of them roll off every quarter, we can replace those with treasuries at a higher yield. So it's just a combination of driving that. But let me also make a few points using the customer activity highlighted on the continued resilience of Bank of America's broad customer base. Did you say next year you're kind of targeting low single-digit expense growth, would you say, positive operating leverage? So with that, I'll turn it over to you, Brian. So consumers remain resilient. Moving to Slide 16. So, in spending, a couple thoughts. We grew revenue 8% year-over-year. You can see some of the legacy loans we were able to sell in prior quarters. And so, you know, we're seeing improvement in the credit book, even though all of the parade of horribles that you sort of alluded to. So it's not big, but it's important for us just to make progress in different areas. Let me -- Ken, just -- one of the things I think if it goes a little bit to Mike's point a little bit to some of their points, is that about 80%-odd, if I got exact -- I think it's 84%, if I got it, of the interchange goes back to the customer base in terms of rewards products, either directly through our own rewards programs or through some affinity group programs. And you'll see -- if you look at our numbers, you'll also see the global markets, just the way that the customers are demanding balance sheet. We call that responsible growth. I'm going to first turn the call over to our CEO, Brian Moynihan, for some opening comments. On Slide 17, you'll see our Global Banking results, where we earned $2 billion in Q3 on strong revenue growth as higher NII more than offset lower noninterest income. In the third quarter alone, we added more than 400,000 plus net new consumer checking accounts. Your line is open. But interesting enough, what's driving the near-term growth in employees has -- there's obviously financial advisor growth, you saw the $400 million this quarter that's investing in the training programs and hiring some people into the office, especially outside our footprint to get them grow. Hung loan marks a quick one. On Slide 17, you'll see our Global Banking results, where we earned $2 billion in Q3 on strong revenue growth as higher NII more than offset lower noninterest income. And what should we look for going forward from that -- those areas? And then separately just a little nerdy modeling question. And what we're seeing is, I gave you the five-year averages, which would so far exceed where we are today. I just wanted to ask a question about expenses. It was awesome. That was driven by a $46 billion decline in deposits and coupled with a $53 billion decline in securities. So even though we're picking back up, the word normalization, ask people to be careful because we're moving back to what was all-time lows, and we're not there. Because that -- and at the end of day, make sure we're not fooling ourselves, and we continue to look at that. And, you know, we'll continue those patterns. And my second question is on more significant buyback activity, Brian. | 4 december 2022 09/11/2022 | 09:30 *: *: * Good day, and welcome, everyone, to the KBC Group Earnings Release Third Quarter 2022 Conference Call, hosted by Mr. Kurt De Baenst, Head of Investor Relations. You didn't see that so much in consumer because the card growth just came through. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. I mean, revenue is up $2 billion, expenses up zero. We have provided an update in the appendix as to the credit transformation of the loan portfolio and a few other consumer credit slides that help illustrate the quality of our portfolio under years of responsible growth. And the continued digitization allows us to continue to be efficient, effective and frankly, plow the money saved back in the marketing back into more technology to make us even more effective and then into people where we need them. But for the full year, it should end up right around that 12% mark. If you prefer that we not use this information, you can opt out of online behavioral advertising. And I'm talking All Other now. I'm going to first turn the call over to our CEO, Brian Moynihan, for some opening comments, and then I'll ask Alastair Borthwick, our CFO, to cover the details of the quarter. Sign up for free newsletters and get more CNBC delivered to your inbox. Making the world smarter, happier, and richer. Investment banking, kind of flattish, I would think. And so we continue to reposition money from things we can eliminate the work by the engineering and work and the technology investments that we make enabling the customer uses that technology and pile back into the production side of the company. All Stories . It's a very complex discussion all over the world. So the securities portfolio runs off at about $15 billion a quarter. . Because our consumer delinquencies remain well below pre-pandemic levels. I think part of various theses on the stock is that various investors expect some sort of expense catch up relative to how your closest peer -- one of your closest peers is budgeting expenses for not just this year but next year. One thing Mike to think about is, go back and look at the consumer page in the deck, you'll see the cost of deposits, which is the overall cost of all the stuff against deposit basis continues to basically be 110 basis points, 120 basis points, which is down from 300 basis points 15 years ago. We delivered our fifth straight quarter of operating leverage. We're going to have to price competitively for deposits in an environment where obviously market-based. Within consumer, credit card grew 12%. So that's included. And if so, what's the dollar amount of tech spend that you're expecting in either this year or next year? We'll go next to Betsy Graseck with Morgan Stanley. Our efficiency ratio this quarter dropped to 62%. Lastly, the recent Hurricane Ian impacted some areas where we have strong market shares for many of our businesses, and our teams have spent the past days assessing the damages and insurance coverage down to the loan level. I mean I think we have to remember that -- I'd be careful about that because basically the baseline now has built into it a fairly weak for a path in the near term. This article is a transcript of this conference call produced for The Motley Fool. We called it out last quarter because it was just bigger. And that's a high watermark of the year, right? So you have to think through on those fees. And what we're seeing is, I gave you the five-year averages, which would so far exceed where we are today. When you look at those global markets or investment banking results, they include anything we're doing in investment banking. And, you know, we all look at benefits continuously. We added 1.3 million new credit card accounts. So that's included. And those production tax credits have the potential to earn more credits over the expected life of the production facility. On Slide 14, we highlight the credit quality metrics for both our Consumer and Commercial portfolios. Pricing is largely customer-by-customer based on the depth of relationship and many other factors. Our guidance is going to assume interest rates in the most recent forward curve and that they materialize, that we see modest loan growth and modest deposit balance changes with market-based deposit pricing increasing baked in. So, there's a lot that goes into RWAs. Can it kind of keep growing from sort of the Q4 level through next year? Switching to global markets on Slide 18. Welcome to the Pan American Silver third quarter 2022 results conference call. And as revenue grew, we've improved the efficiency ratio to 51%. We're doing more with clients. Join Nearly 1 Million Premium Members And Get More In-Depth Stock Guidance and Research Bank of America (BAC) Q2 2022 Earnings Call Transcript By Motley Fool Transcribing - Jul 18, 2022 at. But more importantly, it's based on that kind of unemployment level, which is 150 basis points over where we are in October. Presentation. . The next year, we said at some point, we'll get back to the 1% to 2% rise. Snowflake Inc. beats earnings expectations. And that's what drives it. We also had lower leasing related revenue comparatively. Thank you for joining the call to review our third quarter results. And then just a quick follow-up then. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security, financial instrument, or strategy. That is playing out, as lenders including Bank of America, JPMorgan Chase and Wells Fargo are producing more revenue as rates rise, allowing them to generate more profit from their core activities of taking in deposits and making loans. Ellen Johnson . Yes. We paid out 1.8 billion in common dividends. The first one is, we still expect for future rate hikes and there's going to be some lag to their impact. And that would make a total of $2 billion in Q3 and Q4, given we just put up $1.3 billion in Q3 and that outperformance, and refreshing our expectation for Q4 at $1.25 billion. Presentation Operator MessageOperator Good day, and welcome to the Cadence Bank Third Quarter 2022 Webcast and Conference Call. With us, we have our usual presenters, Mr. Joao Bras Jorge, Chairman of the Board and our CEO; and also, Deputy. But you can assume that at the higher end of wealth, for example, I shared that we're passing through most of that at this stage. So obviously, the trade between building the buffer up a little bit more, as you said, from where we are now to 50 basis points over the requirement is a little bit different. As we look at Global Markets, the team had a strong third quarter in sales and trading performance. And we continue to look at that. Supplemental Information. | 3 december 2022 As you think about loan and deposit base balances in general, we're seeing what we expected, as monetary policy tightens. Your line is open. That obviously includes the costs noted for resolving the second quarter and third quarter regulatory and litigation matters. With regard to regulatory capital, our supplemental leverage ratio increased to 5.8% versus our minimum requirement of 5%, which still leaves plenty of capacity for balance sheet growth and our TLAC ratio remains comfortably above our requirements. The consumer deposit betas are outperforming for you and for some others. Year-over-year now, average short-term interest rates have increased 200-plus basis points, driving up the interest earned on our variable rate assets while we've maintained discipline on our deposit pricing, and that has driven nearly $1 billion of improvement. And what should we look for going forward from that -- those areas? To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs. Thanks. Transcript : Banco Pan S.A., Q3 2022 Earnings Call, Nov 03, 2022: CI. And we've already incorporated that analysis into our reserves for the quarter. So we're going to start on Slide 2 of the earnings materials. We'll go next to Glenn Schorr with Evercore ISI. Bruce Thompson of the credit operations platform across all the businesses, a lot they can take out over time and we just go work on it. There was 12% drop to 6%, moved back up to 15-ish and has now dropped down the low 14s and each month starts to drop even more. So the securities portfolio runs off at about $15 billion a quarter. But is it the second best of all time? This is quarterly, not annually, quarterly numbers. We saw solid net flows despite the turbulence of markets. We're putting more and more into relationship management. Our idea is when you work on expenses, you're not working on the ratio, it ends up in a ratio. So Brian, you said before, the NII benefits have come barreling through to the benefit of investors. They compare favorably to the competitive measures that we see because when we see people actually publish their numbers. So, that's included. So that's what we're trying to do. The FICC improvement was primarily driven by growth in our macro products, while our credit-traded products were down. And it turns out, if you get 35 million people banking in their pocket with a mobile phone, makes a big difference. Many investors can do well in bull markets but then lose a large percentage of their portfolio during a bear market So, consumers remain resilient. A perspicacious analyst might wonder whether talk of inflation, recession and other factors would fructify in a slower spending growth. It has become a primary interaction method for our clients with more than 130 million interactions this quarter alone. We'll go next to Vivek Juneja with J.P. Morgan. Dividends used 11 basis points of capital. And the continued digitization allows us to continue to be efficient, effective and frankly, plow the money saved back in the marketing back into more technology to make us even more effective and then into people where we need them. It produces incredible value. So I just use that there, okay? And our TLAC ratio remains comfortably above our requirements. So, the third quarter of net income of 1.1 billion reflects a good quarter of sales and trading revenue. Our guidance is going to assume interest rates in the most recent forward curve and that they materialize. First, it's $6.6 billion of earnings, net of preferred dividends and that generated 40 basis points of capital. And as a result, our Common Equity Tier 1 ratio, or CET1 ratio, improved by nearly 50 basis points to 11%, moving 60 basis points above its current minimums. So, obviously, the trade between building the buffer up a little bit more, as you said, from where we are now to 50 basis points of the requirement is a little bit different. Our business generated $102 million of adjusted free cash flow in Q3, ending the quarter with $12.5 billion in cash on our balance sheet -- $2.15 billion in cash on our balance sheet, total net . In Global Banking, we hold about $500 billion in customer deposits, and we saw a 7% year-over-year decline. And that's driven by benefits from higher interest rates, including lower premium amortization and from loan growth. And with all the great benefits and talented people already at this company and with our great brand, it highlights that Bank of America is a great place to work. Okay. As we turn to Global Banking, ending loan balances were down linked quarter. And what allows us to help pay for these investments are the operational process improvements we've talked about and the increased digital adoption rates by our customers and by our bankers. Please disable your ad-blocker and refresh. We had strong expense control, flat expenses for the third straight quarter, operating leverage for the fifth straight quarter and good work on that. I'm curious, you -- half your capital builds was thanks to RWA mitigation. Another chunk is another couple of hundred million dollars technology this quarterly -- not annual, the quarterly numbers. We recorded $354 million in litigation expense this quarter above previous accruals for payment of the settlement. As monetary policy tightens on deposits, we see clients with excess liquidity looking for yield, with that being the global banking movements you can see moving from noninterest bearing to interest bearing accounts, or in our wealth manager business, where we saw clients shift out of brokerage suites into preferred deposits or other investment products, like treasuries, that we offer. PARADIGM VALUE story: Bank of America Q3 2022 Earnings Call Transcript - The Motley Fool and other headlines for PARADIGM VALUE FUND . The company missed earnings which sent the stock down about 5% late Wednesday. Expense increased 11% from business investments for growth, including people, digital and marketing along with costs related to opening the business to fuller capacity. On the level of customer liquidity -- the level of customer liquidity remained strong. We delivered our fifth straight quarter of operating leverage. Presentation. And as Brian noted earlier, we're watching closely the early-stage card delinquencies as they begin to increase modestly. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. And as you will note, excluding Global Markets activities, our net interest yield was 2.51% this quarter. However, we did see solid production in this area. And that's partially offset by lower revenue-related incentives. Assets under management flows were $4 billion in the quarter and $42 billion since this time last year. Operator: Good afternoon . Mike, I think it's -- we don't necessarily translate it into that sort of idea of how many more people this digital thing, you know, replace or productivity metrics. We continue to make steady investments in our people, technology, marketing and financial centers. On commercial, average loans were at $16 billion linked quarter, or 12% annualized. On Slide 9, we've laid out average loans. Welcome to 3Q '22 results call. nCino (NASDAQ: NCNO) Q3 2023 Earnings Call Nov 30, 2022, 4:30 p.m. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. So, we've got lots of ways to pay for loans growth in the future. So Brian, you said before, the NII benefits have come barreling through to the benefit of investors. Your line is open. 132.68K Follower s. Play Earnings Call. It will be different for operational versus nonoperational and commercial. And then just a quick follow-up then. Those are going to pay us floating in the fourth quarter, and that's a contributor to the NII growth in the fourth quarter but I think we should assume a little bit third quarter, most all in the fourth quarter, and that's probably it. So, that's what we call responsible growth. And we appealed that, as you well know and didn't get released. Maybe hoping for a little bit of positive at some point but not necessarily this quarter. Information about non-GAAP financial measures, including reconciliations to U.S. GAAP, can also be found in our earnings materials that are available on the website and in the docs. Got it. And then also, Alistair, just the pace of deposit mix shift and betas that you're kind of building into your outlook would be helpful. OK. And so, we continue to reposition money from things we can eliminate the work by the engineering and work in the technology investments we make, enabling the customer to use that technology and plow back into the production side of the company. So we're getting more yield and we're reducing the RWAs with that. Presentation Operator MessageOperator Ladies and gentlemen, welcome to the OTP Bank Third Quarter and First 9 Months 2022 Conference Call. But it's still strong. So, even while investing in marketing and people and technology and physical plant, the team continues to drive operational excellence. Let's turn to expense, and we'll use Slide 12 for the discussion. As we look at Global Markets, the team had a strong third quarter in sales and trading performance. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. And what kind of volume do you get from cash flows off the book there? 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