For the first time since the Great Recession, overdraft revenue increased in the first quarter from the previous year-end quarter, in part due to pricing changes, a new report indicates.
According to the latest Moebs $ervices overdraft study, total overdraft revenue increased $268 million, or 0.8%, from the end of Q4 through Q1, totaling $33.6 billion for all banks, thrifts, and credit unions.
“Since the recession started, we have seen the first quarter revenue dip about 4.2%, on average, from the year-end quarter. However, in 2008, when the revenue increased the last time in the first quarter, there was a much larger increase of 2.2% from the previous year-end quarter,” said Michael Moebs, economist and CEO of Moebs Services.
Price And Volume
Several factors contributed to the expanding overdraft revenue, said Moebs.
“An increase in revenue is directly correlated to price and volume. The overdraft price has remained the same since 2013, which indicates that volume has continued to the increase,” said Moebs. “When comparing year-to-year, overdraft volume has seen its largest increase since pre-recession.”
The post What drove $268-million revenue increase? appeared first on CUInsight.
June 12, 2017 at 09:13AM
from John
UP Board Result 2017 will be declared at 12.30 pm today on upresults.nic.in.
Motherson Sumi, Tata Group stocks, among others could react to the developments in Britain today.
The rupee has opened at 64.27 against the US dollar, down 6 paise compared with previous day#39;s closing of 64.21 a dollar.
Despite facing stiff competition from India#39;s leather and footwear majors, Sreeleathers continues to create a niche for itself with sustainable growth every year.
Tata Steel topped the buying list among Sensex stocks, up nearly 4 percent followed by Dr Reddy#39;s Labs, HDFC, Tata Motors, Lupin, Aurobindo Pharma and Hindalco.
Brokerage firm cites better prospects for the firm based on improving pricing and demand-supply scenario for the industry going forward.
