Although BB&T Bank’s loan volume is declining overall, subprime outstandings grew 14.7% year over year, the lender said during its second-quarter earnings call last month.
Regional Acceptance Corp. — the subprime unit of BB&T, which accounts for nearly a third of the bank’s overall book — grew its portfolio to $3.9 billion in the second quarter, up from $3.4 billion in the prior-year period, Chief Risk Officer Clarke Starnes said on the call.
Meanwhile, prime loan outstandings at BB&T declined 17.6% during the quarter.
“We are simply pricing up the assets,” said Kelly King, the bank’s chairman and chief executive. “The market has driven down the pricing in auto to where it
