Banks Begin to Make More Loans
By: Newsroom Solutions
Updated: October 18, 2011
It may be too soon to take it as a sign the economy is finally turning around, but the nation's banks are making more loans.
Several of the nation's biggest banks are reporting increases.
However, loan activity is still far from overwhelming and growth is tilted to the strongest commercial and consumer borrowers.
The increase in activity comes after several quarters of banks seeing their loan balances fall or remain flat.
The chief financial officer for Wells Fargo Bank, Timothy J. Sloan, tells the "New York Times" that he expects the growth to continue.
Several of the nation's biggest banks are reporting increases.
However, loan activity is still far from overwhelming and growth is tilted to the strongest commercial and consumer borrowers.
The increase in activity comes after several quarters of banks seeing their loan balances fall or remain flat.
The chief financial officer for Wells Fargo Bank, Timothy J. Sloan, tells the "New York Times" that he expects the growth to continue.
