Buoyed by on-going economic recovery, low unemployment, increased consumer confidence and possible reduction in regulatory activity, the stage is set for banks to grow in 2018. According to industry reports growth will continue to be a top priority.
According to the Independent Community Bankers of America (ICBA) 2018 State of Community Banking Survey, 66 percent of respondents have set growth as a top priority for the year. This includes 22 percent who plan to increase earnings, 20 percent who are looking forward to additional loan volume and 11 percent who anticipate deposit gains.
For credit unions despite rising interest rates, membership, loan growth and portfolios are expected to remain strong and healthy. A few highlights from the latest CUNA Credit Union Forecast include projections for growth by six percent in savings balances, a 10 percent increase for overall loan growth, a 3.5 percent increase in membership, and an overall boost in earnings.
continue reading »