Top Calls: JPMorgan, CITI & Wells Fargo Report Results

The transcript discusses the recent performance of banks, highlighting a relatively positive surprise in earnings despite earlier lowered estimates. It covers the shift in focus during earnings calls from crisis management to core banking operations, with a particular emphasis on commercial real estate concerns. The discussion also touches on the impact of deposit trends on both large and regional banks, noting a significant loss in deposits over the past year but a partial recovery since April. The overall sentiment is cautious, with banks preparing for potential challenges in the commercial real estate sector.

What was the decline in JPMorgan's investment banking fees compared to last year?

• 10%

• 5%

• 25%

• 15%

What has the banking industry's focus shifted to in recent earnings calls?

• Deposit crises

• Global expansion

• Basic banking operations

• Investment banking

What major concern is associated with commercial real estate for banks?

• High loan growth

• Low interest rates

• Increased trading operations

• High vacancies and refinancing challenges

How did the large banks benefit during the deposit outflows from smaller banks?

• They gained deposits

• They lost deposits

• They reduced interest rates

• They faced a crisis

What was the approximate loss in deposits for the banking industry between April 2022 and 2023?

• 2 trillion dollars

• 200 million dollars

• 1 trillion dollars

• 500 billion dollars