Bloomberg Surveillance Big Bank Earnings and Greenland in Focus
Jan 14, 2026
Gerard Cassidy, Head of U.S. Bank Equity Strategy at RBC Capital Markets, delves into the latest bank earnings, highlighting industry consolidation and record profitability since the financial crisis. He also discusses the dynamics of loan growth and deposit competition. Meanwhile, Nathalie Tocci, a foreign policy expert, offers insights into Europe’s quest for geopolitical autonomy and critiques its responses to U.S. pressures, particularly regarding the Greenland dispute. Together, they explore the shifting financial and political landscapes shaping our world.
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Big Banks Are Fewer And More Profitable
- US banking consolidation left a much smaller number of bigger, more profitable banks than decades ago.
- Gerard Cassidy says higher efficiency and stronger capital make the industry record-profitable on an annualized basis.
Portland Fires Damaged Businesses But No Injuries
- Gerard Cassidy describes recent fires in Portland, Maine, noting four businesses were lost but no injuries occurred.
- He says the affected businesses will rebuild and the lobster shack he recommended survived.
Loan Growth Is Picking Up Fast
- Loan growth accelerated sharply from near 0% to about 5–6% according to recent H8 data cited by Gerard Cassidy.
- Cassidy warns deposits remain plentiful now but could face more competition if loan growth persists into next year.
