Bancshares trade continuing to develop its wealth management activity in the first quarter, After announcing two quarters earlier than he was targeting this business.
The part of the confidence costs of the wealth management activity increased by 11% from one year to the next, driven by higher private customers, the regional bank portfolio company and the parent company of Trading bank said in a Wednesday, April 16) Strengths of gains presentation.
This growth has contributed to a growth of 7% on the other in annual shift in the income -free income of Bancshares and helped the company to diversify its incomeDepending on the presentation.
“Non -interest income was $ 159 million and represented 37.1% of total income, directed by trusted costs in our wealth management activity of $ 57 million,” said CEO of Commerce Bancshares John Kemper said in a Wednesday Profits. “Our strength in wealth management is illustrated by its continuous growth, with confidence costs of 10.7% over the same period last year.”
Trade Bancshares said about six months earlierin his third trimester Updating investors,, that it aimed to develop its wealth management activities by using its new private bank loan and deposit system to offer products, specialized services and automation, and developing in new markets in which wealth is concentrated.
Its subsidiary, Bank trade, maintains wealth management offices in three cities outside its main banking footprint: Dallas, Houston and Naples, in Florida, according to the presentation published on Wednesday. It also offers wealth management services in Midwestern make up its main banking imprint.
The net income net income in Business Bancshares increased by 8% from one year to the next in the first quarter and has reached a record quarterly summit of $ 269 million, Kemper said in the results statement.
Kemper said that the bank’s credit profile remains solid and that its capital and liquidity levels remain robust, adding that these qualities will help the commercial bank to serve its customers and ensure its own solidity at increasingly uncertain moments.
“Given the recent news related to prices and commercial restrictions, and to the light of continuous adjustment in capital markets, the prospects for the future are increasingly uncertain,” Kemper said in the press release. “Nevertheless, our franchise is well placed to resist any economic disturbance, execute our long -term strategies, serve our customers and offer value to our shareholders.”