Net Interest Margin Expansion
The net interest margin expanded by 11 basis points to 3.28%, marking the seventh consecutive quarter of improvement.
Revenue Growth Outpacing Expenses
Pre-provision net revenue improved by 11% compared to the prior quarter and 18% compared to the prior year, indicating strong revenue growth relative to expense growth.
Increased Customer Fees
Customer fees, excluding the net credit valuation adjustment, grew by $10 million, reflecting increased customer activity.
Positive Operating Leverage
The efficiency ratio improved to 59.6%, showing positive operating leverage driven by revenue growth and controlled expenses.