Strong Wealth Management Performance
Wealth management showed excellent performance, with investment AUM now in the high 50s percentage of total assets. Net new money growth is strong, adding $6 billion per quarter, with productivity from newly hired RMs expected to enhance growth further.
Loan Growth Projections
Projected loan growth for next year is 3% to 5%, supported by structural needs in Asia for data centers, semiconductor supply chains, food and agri, and healthcare.
Positive Non-interest Income Trends
Commercial book non-interest income is stable with rising treasury customer sales income, showing resilience in the face of market volatility.
Potential for Further Oil & Gas Recoveries
Recovered about $130 million from NPLs in oil and gas this quarter, with potential for more recoveries through asset sales.