RF - Regions Financial Q4 Performance Shows Resilience CEO Emphasizes 'Protective Hedging Strategies' To Navigate Interest Rate Volatility | Benzinga
Regions Financial Corp (NYSE:RF) reported an adjusted revenue decline of 7.1% Y/Y in fourth-quarter FY23 to $1.812 billion, beating the consensus of $1.800 billion.
Total revenue decreased 9.5% Y/Y in the quarter. Net interest income decreased 12.1% Y/Y to $1.23 billion and fell 4.6% Q/Q due to accelerating deposit and funding costs and a portion of the company’s forward starting interest rate hedges becoming active.
Provision for credit losses stood at $155 million, higher than $112 million in the year-ago period.
The company reported ...