Apr
06

U.S. Bank Earnings to Rally After Ugly First Quarter, Mayo Says

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U.S. bank earnings should improve through the rest of this year and next after an “ugly” first quarter, said Mike Mayo, a CLSA Ltd. analyst.

“This is one of the few quarters this decade with negative earnings and negative revenue growth year-over-year,” Mayo said Wednesday in an interview on Bloomberg Television. “That is the bad news. The good news is the resiliency of the banking industry. Credit quality remains good, capital is higher, risk is down. As ugly as the first quarter is, we think the comparisons get better through the rest of 2016 and 2017.”…

U.S. Bank Earnings to Rally After Ugly First Quarter, Mayo Says

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