Regions Financial Corp. reported strong financial results for the third quarter of 2020, with net income of $501 million, up 30% compared to the third quarter of last year.
“We certainly were pleased with the quarter’s results,” shared Regions Chief Financial Officer David Turner. Turner said Regions experienced robust revenue growth driven by both net interest income and fee income, generating the highest pre-tax pre-provision revenue in over a decade, along with several other factors that resulted in a strong quarter.
Regions experienced “continued massive improvement in credit quality, and we’re excited about that; it sets us up for a very strong finish to the year and also positions us very strong for 2021,” Turner shared. “All we need to do is stay focused on the things we can control.”
In the video below, Turner shares further insights and context on Regions’ performance over the past quarter.