Connect with us

CWEB Business News

Zions Bancorp Reports Better Than Expected Q4 Results

Zions Bancorp (NASDAQ:ZION) reported its Q4 results, with EPS of $1.84 coming in better than the Street estimate of $1.65. Revenue was $873 million, beating the Street estimate of $865.83 million.
Core bank results were solid with favorable spread revenue dynamics and tightly controlled expenses. Credit continues to be solid, though management remained conservative with a modest reserve build.
Management expects moderate growth across most categories, including higher loan balances, and increasing customer-related fees. Net interest income is expected to increase at a single-digit percentage rate for 2023, though spread revenues are likely to be pressured over the year from fewer rate increases and rising deposit costs.

More in CWEB Business News



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.