Zions Bancorp Beats Earnings Amid Fraud Loss

5 days ago

Alexandra Seanova

"Zions today reported that its profit actually topped analyst estimates despite a $50 million loss from an alleged fraud to a commercial real estate investor group in Southern California. Their earnings were pretty solid. They reported $222 million worth of net income today. Uh just beating forecasts Monday rather. also charging off $56 million of bad loans for that alleged fraud. Last week, Zions had reported a credit loss of $50 million out of $60 million caused by that commercial real estate portfolio."

Zions Bancorp delivered strong earnings that beat analyst estimates despite a notable fraud incident and charge-offs. The report emphasized robust net income while acknowledging recent credit losses, reflecting mixed signals for investors.

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