Reuters13h agoneutral
Chime banks on resilient consumer spending to post maiden quarterly bottom lineChime posted its first-ever quarterly profit on Wednesday, as resilient consumer spending in the first three months of the year lifted demand for the financial technology firm's digital banking products. Consumer spending remained resilient in the first quarter as individuals and businesses maintained spending trends and supported the payments sector, despite broader macroeconomic volatility linked to the war in the Middle East. Payments processing company Visa also reported a rise in quarterly profit last week, helped by the spending trends.
