“With one quarter remaining in the year, we continue to expect full year revenues to be up in the low single-digit range, excluding divestiture related impacts.”

In context

“the Australia loss on sale in the prior year period. Excluding these items, revenues were down about 12%, largely due to the loss of revenues from the Australia and Philippines closing, as well as the impact of the Korea wind down. Expenses increased 6%, driven by divestiture impacts in Asia and Mexico. Loans and deposits decreased as a result of the reclassification of signed exits to other assets and other liabilities, the closing of the Philippine sale and the impact of the Korea wind down. On slide 15, we show results for Corporate/Other. Revenues increased, largely driven by higher net revenue from the investment portfolio, partially offset by the mark-to-market on certain derivative transactions and expenses were down. On slide 16, I will briefly touch on our full year 2022 outlook. With one quarter remaining in the year, we continue to expect full year revenues to be up in the low single-digit range, excluding divestiture related impacts. And within that, we continue to see a shift with higher net interest income offset by lower non-interest revenue. So, for the fourth quarter, we expect net interest income excluding markets to be up in the range of $1.5 billion to $1.8 billion year-over-year. Clearly, where we land within that range will be a function of a number of factors, including rates, loans and deposit volumes, deposit betas and currency impacts. Regarding full year expenses, we continue to expect expenses to grow by 7% to 8%, excluding divestiture related impacts. In terms of cost of credit, it will be a function of the evolution of the macro environment, normalization that we continue to expect in the cards businesses and loan growth. And keep in mind that loan growth tends to be higher in the fourth quarter vers”