Payouts continue to be relatively generous, but that could change if the Federal Reserve demands banks bolster capital or the economy worsens.
Demand has soared for mental health services as bank employees put in long hours, supervise kids while working at home and endure personal crises. Citi, BofA, Fifth Third and others are getting creative to help them decompress during the pandemic.
Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.
Consumers and businesses put more money in the bank as the pandemic worsened. How long the funds remain will depend on how quickly the economy recovers.
The COVID-19 crisis is forcing many banks to hold their spring shareholder meetings online only.