Daily Economic Indicator: BB&T CEO indicates recovery is moving ahead

05/13/2010 | Reuters

BB&T chief executive Kelly King, speaking at the UBS Global Financial Services conference, offered indications that he sees the economic recovery gaining ground. He said home builders in the Southeast are in a "mad rush" to purchase land, and that BB&T would work to sell its portfolio of foreclosed properties. King also said an increase in total loans is expected this year. "There's a lot of pent-up demand for loan growth," he said.

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