U.S. Large-Cap Banks: Bank Brief BANTER – A dozen quick takes from this week

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U.S. Large-Cap Banks: Bank Brief BANTER – A dozen quick takes from this week

Equity Research

12 June 2026

U.S. Large-Cap Banks

Bank Brief BANTER – A dozen quick

takes from this week

This week, 2Q updates pointed to higher NII/loans/fees, U.S. Large-Cap Banks

positive operating leverage, generally stable asset quality POSITIVE

(though eyeing inflation/oil) and continued share buyback. U.S. Large-Cap Banks

Jason M. Goldberg, CFA

Banks highlighted AI benefits while downplaying near-term +1 212 526 8580

(pricing) and longer-term (stablecoin/smart cash) deposit jason.goldberg@barclays.com

BCI, US

concerns. Brian Morton, CFA

+1 212 526 2163

This week featured a webcasted conference with many of our Large-Cap Banks. Below we brian.morton@barclays.com

highlight a dozen key takeaways, along with other notable headlines. BCI, US

John Hotchkiss III

1) Macro resilience persists. +1 212 526 2687

The general view of bank managements was that sentiment and behavior from both corporate john.hotchkissiii@barclays.com

and consumer customers is positive. Corporates have become very resilient in dealing with BCI, US

disruptions (COVID, tariffs, supply chain, Middle East, elevated oil, inflation). Higher energy/food Matthew Kesselhaut

prices are weighing on the lower-end consumer but most banks are not seeing any real +1 212 526 0181

deterioration. matthew.kesselhaut@barclays.com

2) Net interest income trending in-line to better than expectations.

Inna Blyakher

PNC, KEY, STT and USB talked up near-term net interest income expectations, while BAC, BNY, C, +1 212 526 3904

CFG, FITB, HBAN, NTRS, TFC, WFC and ZION reiterated their outlooks. Only RF made a cautious inna.blyakher@barclays.com

comment (sees 2Q26 NIM in mid‑3.60% range vs. guide of mid- to high-3.60% prior and 3.67% in BCI, US