“We expect the USCC NIR to remain in line with the second quarter's absolute level in the third and fourth quarters of this year.”

In context

“tural efficiencies including severance to improve productivity, and actions to improve our funding profile. Cost of credit was $438 million primarily consisting of net credit losses of $366 million driven by loans in Mexico. And we have reduced the total DTAs deducted from CET1 capital held in corporate other by over $500 million year to date. To close, we have included our full year 2026 outlook on Slide 14. We have made significant progress in terms of improving returns, on the back of our investments, generating a year-to-date ROTCE of 13.1%. Having said that, we continue to target an ROTCE of 10-11% for the full year, supported by: NII ex-markets growth of approximately 5-6% and continued NIR ex markets growth driven by momentum in services banking and wealth partially offset by USCC. We expect the USCC NIR to remain in line with the second quarter's absolute level in the third and fourth quarters of this year. In markets we historically have seen revenues decline approximately 20% between the first and second half of the year. And given the strong performance year to date, the magnitude of that decline could be greater this year. And as we have said before, we expect our full year efficiency ratio to be around 60%, as we ramp up investments across the businesses in the second half and incur additional severance as we target future efficiencies. As it relates to credit, we continue to expect total U.S. credit cards NCL rate between 4-4.5% while the ACL will continue to be a function of the macroeconomic environment and business volumes. And we remain well positioned to return capital to shareholders under our $30 billion share repurchase program, As we take a step back, the results in the second”