U.S. Bancorp (MEX:USB)

MXN 690 0 (0%) Market Cap: 1.10 Til Enterprise Value: 1.10 Til PE Ratio: 13.86 PB Ratio: 1.34 GF Score: 61/100

U.S. Bancorp at RBC Global Financial Institutions Conference Transcript

Mar 11, 2020 / 02:00PM GMT

Release Date Price: MXN843

Transcript

Gerard S. Cassidy;Timothy A. Welsh<

RBC Capital Markets, Research Division - MD, Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst

Good morning, everyone. This is Gerard Cassidy. Welcome to the 2020 RBC Capital Markets Global Financial Institutions Conference. Our fireside chat right now is with U.S. Bancorp. Joining us from U.S. Bancorp is Terry Dolan, Vice Chairman and Chief Financial Officer. Also with us is Tim Welsh, Vice Chairman Consumer and Business Banking. As many of you know, U.S. Bancorp is headquartered, of course, in Minneapolis. It has a market cap of about $55 billion and total assets of just under $500 billion. When you look at the deposits, they are about $362 billion and a loan portfolio of around $300 billion.

As many of you know, it's one of our most profitable banks in the country and last year, they put up a return on asset number of 152 basis points and a return on average common equity of just under 15%. With that, I'm going to turn it over to Tim, who will speak, followed by Terry, and then if there's time, we'll have some questions. Tim?

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