"Given the credit environment, we think we performed reasonably well," he said.
"While consumer credit trends are improving in international markets, the U.S. consumer credit environment remains challenging".
Analysts said the improving credit environment was a healthy sign, both for the bank and the broader economy.
With the improving credit environment, JPMorgan set aside less money to cover potential losses, increasing its profits.
But, for everyone else, particularly small and medium-size firms, the credit environment continues to be very challenging.
A Dynegy spokesman said the trading platform, DynegyDirect, would be shut down temporarily because of the "current liquidity and credit environment" facing the entire energy trading sector.
"Fund managers are facing a challenging period in 2001 because of the bumpier credit environment," said Martin J. Duffy, vice president and senior analyst at Moody's Investors Service.
What is your top piece of advice for small-business owners who are worried about their ability to continue financing their company in this credit environment?
As did it peers, PNC's results got a boost from an improved credit environment, allowing it to set aside less money to cover bad loans.
As with other peers, PNC's results got a boost from a more favorable credit environment, allowing the company to set aside less money to cover bad loans.
Its corporate and investment banking business was responsible for €779 million of the loss provisions, reflecting "the generally weaker credit environment".
