NEW YORK, July 18 Reuters U.S. consumers are still keeping up with their loan payments despite rising costs and a worsening economic outlook, according to executives at the largest U.S. lenders.

While some borrowers whose finances stayed resilient during the pandemic are starting to fall behind on their loan payments, top bankers said.

The consumer39;s actually in pretty good shape, said Bank of America CFO Alastair Borthwick, citing elevated deposits and strong asset quality.

The leader of JPMorgan Chase, the nation39;s largest lender, also said consumers finances remained resilient.

Even if we go into recession, they39;re going with rather good condition, with low borrowings and good house price value still, JPMorgan CEO Jamie Dimon said in an earnings conference call on Friday.

The bank reported record profit in the second quarter as consumer borrowing remained strong, also driving its net interest income to a record.

Profits at Bank of America and Wells Fargo jumped 19 and 57 in the second quarter, respectively.

Still, some consumers39; finances were starting to be stretched.

Asset quality remains strong and chargeoffs continue to normalize, they still remain below pre pandemic levels, Borthwick added.

Bank of America said the rate of credit card chargeoffs, or debt owed to a bank that is unlikely to be recovered, stood at 2.6 in the second quarter, well below the prepandemic rate of 3.03 in the fourth quarter of 2019.

Consumers with lower credit…