Huntington Bancshares sees FY18 revenue growth 5%-6%
Says "on pace" to achieve all long-term financial goals in 2018. Long-term financial goals include: revenue FTE growth 4%-6% y/y, positive operating leverage, 56%-59% efficiency ratio, NCO 35-55bps, ROTCE of 15%-17%. For 2018, sees FY18 average loan growth of 5.5%-6.5%, average deposit growth of 3.5%-4.5%, average core deposit growth 4.5%-5.5%. Sees FY18 revenue up 5%-6%. Sees NIM up 2bp-4bp, with core NIM up modestly and new money yields above portfolio yields across all categories. Sees FY efficiency ratio 55.5%-56.5%, effective tax rate 15.5%-16.5%. Sees net charge-offs below 35bp, remaining below average through-the-cycle target range of 35bp-55bp. Comments from slides that will be presented on the Q2 earnings conference call.