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Typically, bank earnings calls aren't the most exciting events.
It's a chance for analysts to ask why a certain number wasn't higher or lower, or what *insert some obscure regulation* will mean for the future of the bank's balance sheet.
Citigroup CEO Mike Corbat and chief financial officer Mark Mason had to field a barrage of pointed questions from analysts. That included asking about the status of Corbat's succession plan, steps the bank took prior to the $400 million fine it faced from regulators, and Citi's strategy for cleaning up its risk, compliance, and infrastructure issues.
Smaller banks have been at a disadvantage compared to the biggest players. And the coronavirus pandemic has accelerated those pressures as customers have avoided physical branches, the lifeblood of local banks. Shannen Balogh and Reed Alexander have a great look at what the financial institutions are doing to evolve. Read more here.
