Lenders make less money despite Covid-19 loan boom

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Lenders make less money despite Covid-19 loan boom

Jasper Cox
May 28, 2020 01:15 am
BankofAmerica_PA_575x375_27May2020
A general view of a Bank of America logo as seen on a branch in Washington, D.C., on April 29, 2020 amid the Coronavirus pandemic. In America, confirmed COVID-19 cases surpassed 1 million as economic data showed a 4.8\% contraction in the first quarter of 2020 Ð the biggest quarterly contraction since the financial crisis. (Graeme Sloan/Sipa USA) | Graeme Sloan/SIPA USA/PA Images

Some of the largest investment banks made 12% less revenue from lending in the first quarter, despite balance sheet expansion as they supported companies, according to research from analytics firm CRISIL Coalition.

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