Auto growth, positive credit performance continue at US Bank

Improved economic conditions led the bank to take a $827 million benefit in Q1 provisions for credit losses

Photographer: Luke Sharrett/Bloomberg

U.S. Bank’s auto portfolio grew for the third consecutive earnings period in the first quarter of 2021 as credit performance continues to improve, largely driven by government stimulus and improving economic conditions. Auto outstandings rose to $20.5 billion, an increase of 4.1% sequentially and 7% year over year. U.S. Bank’s auto portfolio has been steadily […]

Already subscribed? Click below.

Exit mobile version