All of the big banks have reported quarterly earnings – here’s what we learned
Transcript:
Caroline Woods: So, Stephen, the big banks have all reported what do we need to know about their performance? What are the key takeaways?
Stephen Biggar: Well, I will say this is one of the better quarters that we’ve seen over the last year. And I think expectations were a bit light going in because of the, you know, we go back three months to April during the liberation day and tariffs. And of course, a lot of the conversation was the pause in activity for the capital markets side. That’s investment banking M&A activity. And we certainly started the quarter week on that and ended strongly. So as the quarter progressed the companies talked about the improvement that went on that the tariffs were kind of still front of mind but but sort of receding in terms of a top concern. And so the conversations with the dealmaking activity got a little bit more constructive. That was a big, you know, so we finished strongly there above my estimations and the streets as well. And on top of that loan growth was actually better than expected also. And I think that’s a, you know, a sign as well that consumers are, you know, sort of receding concerns about tariffs. And so overall, it was a great quarter. And I think universally I’ve been raising estimates and target prices.
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