Huntington CEO says bank made effort to attract deposits, prepare for loan growth in second half
HBAN•CEO says credit portfolio remained stable
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"The net interest was below expectations because we made an effort to grow deposits and prepare for loan growth in the second half of the year."
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"We didn't see any relevant changes in our credit portfolio despite all the macroeconomic volatility. But we focus on prime clients, with FICO scores around 700 to 800."
Deposit growth and loan preparation weighed on net interest income
NEW YORK, July 23 (Reuters) - Huntington Bancshares CEO Stephen Steinour said on Thursday the bank made an effort to expand its deposit base in preparation for a higher volume of loans in the second half of the year. That was the reason for missing expectations on net interest income, the CEO said in a phone interview.
Huntington's shares were down 5.4% during afternoon trading.
