Gerard Cassidy, head of U.S. bank equity strategy and bank analyst at RBC Capital Markets, joins ‘Squawk on the Street’ to discuss bank stocks. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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LEARN MORE ABOUT: Bank Failures
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In recent news, two community banks failed in the U.S this week, causing concerns about the stability of the banking industry. However, it is important to note that these incidents are not indicative of the state of the overall banking industry. In fact, RBC Capital Markets, one of the leading investment banks in North America, continues to thrive despite the current economic climate.
RBC Capital Markets is the investment banking subsidiary of Royal Bank of Canada, one of the largest banks in North America. With a strong focus on corporate and investment banking, RBC Capital Markets has established itself as a prominent player in the industry. The bank has consistently shown impressive performance in its financial results, despite economic difficulties in recent years.
One of the reasons for RBC Capital Markets’ success is its strong risk management strategy. The bank has a conservative approach to its business operations, which has allowed it to weather the storms of economic uncertainty. Additionally, RBC Capital Markets has a diversified revenue stream, with a focus on long-term relationships with clients. This has allowed the bank to sustain growth even during periods of market volatility.
RBC Capital Markets is also committed to social responsibility and sustainability. The bank’s corporate social responsibility initiatives focus on environmental sustainability, community involvement, and diversity and inclusion. The bank has set ambitious targets to reduce its environmental impact, and aims to reach net-zero emissions by 2050.
Furthermore, the bank has a strong commitment to diversity and inclusion, with a focus on creating an inclusive workplace and supporting the development and advancement of women and other underrepresented groups. The bank’s efforts in this area have been recognized with numerous awards and recognition.
In conclusion, while two community bank failures this week may have caused concerns about the banking industry, it is important to remember that these incidents are not indicative of the overall strength of the industry. RBC Capital Markets, one of the leading investment banks in North America, continues to thrive due to its strong risk management strategy, diversified revenue stream, and commitment to social responsibility and sustainability. The banking industry, while facing challenges, is ultimately resilient and adaptable, and is poised to continue to contribute to economic growth and development.
Right, and I'm sure US Bank acquiring Union Bank has no correlation with this entire debacle.
I bought lots of Chevron, Verizon, and Wells Fargo.
Your 1 of the few who actually tells the truth,this isnt an issue for normal people so thanks for not being a fear monger
Long Banks for 100 % returns
This is coming from RBC. Canada has a major housing bubble AND high inflation. Average income is 54k. Detached "middle class" homes are selling for around $1.2 million and up. You might get a townhouse for around 750k. An old beat up bungalow from the 70s in the suburbs will run about 600k. Wonder why the central bank paused rate hikes? There's a huge gap between wage growth and the growth in the cost of housing, and it's not going to be closed by increasing wages. That only leaves two other options: a generation of renters, or a nasty drop in property value to come back down to Earth. Pop….
The negative impact of SVB and SI debacles has been reflected in the regional bank ETF (KRE) which has witnessed a decline of over 20%. This event has triggered contagion effects, dragging the entire market lower. However, historically speaking, a localized and narrow contagion of this nature presents an opportune time to invest in strong, financially stable companies with substantial cash reserves on their balance sheets.
If they admit there's a problem, more people panic, and there will be more bank runs. They'll deny it until they can't. There was no problem in 2008 either….
I’ve trading mostly for the past 2 years thanks to Mr John for his services. BTC is just not an asset for also a very tangible investment that can increase a trader’s profits portfolio immensely by steady funding buying and selling of the above mentioned.
Well then . . what ARE these bank failures representative of?
Can this country pay all the debt.?
If this was not representative of the industry at large why would they bailout the banks?
better draw out your money soon ….
Banks are so last millenium. Bitcoin is safe on your own computer.
OMG BANKS GOING DOWN BLAH BLAH BLAH.
But yet all the big CEO's and buffett are quietly buying lol. These fuqing clowns don't know shyyyt lol
devil on his shoulder is picture perfect
Friday is a great day for banks to file chapter 11 and lock up peoples money. Hopefully there are more banks to do a piggy bank with others people money, how easy and fast ??? The market needs to clean itself up by getting rid off bad banks.
Fed buying lower value banks bonds for 100% value prices
25% Fed interest rates stop inflation not be happening