The Banking and Strategy Initiative

Chillin' out till it needs to be funded

Goldman Sachs’ retail bank is alive and well

After a furtive foray in insurance they had to back out of and some CDs floating in the market, GS has bought over deposits from GE, taking on a new … Continue reading

August 14, 2015

Bank Earnings Season 2Q2015: BofA, US Bank and the others, hefty dividend from PNC on August 5

The Bank of America report came in on Wednesday and well they again made me take a relook at policy to discontinue covering the heritage bank. Of course witht he … Continue reading

July 19, 2015

Bank Earnings Season 2Q2015: Citibank Expenses down a whopper $5 B in

Citi finally delivered $4.8 Billion in net earnings after the year ago surprise that wiped out the quarter, making a net income of nearly $9.7 Billion in the two reported … Continue reading

July 19, 2015

Bank Earnings Season 2Q2015: And then there was Goldman Sachs!

Well, the rhyme, if only because they never made that move into banking a ground reality though you could get a Goldman Sachs CD in the meantime while they do! … Continue reading

July 19, 2015

Bank Earnings Season 2Q2015: Wells Fargo, what did you expect another $1.0x in earnings

The bank lags in RoE from JP Morgan at 12.7% and the Return on assets is best in class at 1.33% even as REvenues actually moved a point this quarter … Continue reading

July 14, 2015

Bank Earnings Season 2Q2015: JP Morgan details its loan growth, MSR blips briefly on radar

The bank continues to do well with acquisition in retail on the strength of mobile banking. Loan Books have seemingly gained enough sight of traction to come in the remaining … Continue reading

July 14, 2015

Thats what you get when you do the math!

To be fair, Wells Fargo has made $63 Bln in profits (bank bottomline) while Goldman Sachs has made only $24 Billion and really banks may have paid more for litigation … Continue reading

June 26, 2015

Thats what you get when you just do the math!

Abloomberg ‘exclusive’ and our commentary

June 26, 2015

Goldman Sachs it is. Bank Earnings Season 1Q2015

Topline = $10.62 Bln, Investment Banking Fees higher than JPM by 160 mln, at $1.91 Bln, A four year high in Trading revenues to $5.46 Bln means they are closest … Continue reading

April 17, 2015

Citi adds the promised dash of real sauce after a penalty loss in 2014: Bank Earnings Season 1Q2015

We could no longer stay on without sharing our peek-a-boo into Corbat’s mind. As promised by Citi last year Toplines have tremored and shaken off Gross Interest revenue on cue … Continue reading

April 16, 2015