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Article: BB&T Moves Specialty Finance To Forefront.
- Article from:
- American Banker
- Article date:
- March 29, 2007
- Author:
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BB&T Corp., facing intense competition in core business lines and limited opportunities for bank acquisitions, is looking to its specialty finance arm as a growth engine.
The $121 billion-asset Winston-Salem, N.C., banking company has not set huge growth goals it would like to boost the unit's contribution to interest income to 10%, from its current 8% but said it sees potential in a segment that currently ranks as one of the smallest in BB&T's loan portfolio, accounting for 4.3% of the company's $83.6 billion of loans at yearend.
We're growing nicely, with attractive margins, and these businesses are highly efficient compared to traditional ...