. >>> which bank will come out on top this earnings season gerard cassidy start with you who are youut and most concerned about >> kelly, excited about the big banks, strong consumer deposits. 15 years since investors had to look at the right side of the balance sheet. these core consumer deposits are the funding of the balance sheets that gives banks big margins and big spreads which we saw in 2022, and will continue to see in 2023 so bank of america is one. some of the regional banks, fifththird, jpmorgan as well the companies that have really strong consumer franchises leading to higher profitability in 2023. >> and then the flip side? who are you a little more bracing for? >> yep no a good question. i would say got to be careful about capital markets. we all know 2022 was a terrible year for investment banking. we don't think it springs right back here in the first part of '23, and i think as long as the ecm markets continue to remain under pressure as well as advisory, meaning morgan stanley and goldman could struggle first part of the year. >> rallying today, for what it's wort

. >> gerard cassidy is with us from tucker anthony. dive into the press releases and the propaganda are fortress moynihan, but just as a basic idea, digital logins are 3 billion, digital sales grew 8%. it represented 49% of total sales. two, 3, 5 years from now, are all of these banks digital enterprises? >> bank of america has been the leader in pushing the digital channel, better than anyone else, and even j.p. morgan in our opinion, but we are always going to have the multichannel approach. i don't think you are going to see branches ever disappear, but the amount of business is going to the digital channel will continue to grow. you are right. you are going to see companies like bank of america and j.p. morgan chase continue to drive profitability and product through the digital channel because it is convenient to consumers and also for businesses, but more profitable towards the bank. >> bank of america is up by 1.2 5%. j.p. morgan members -- numbers are a. investment comes -- j.p. morgan numbers are out. overall revenue is just a

rbc capital markets' managing director gerard cassidy, he's got an outperform on bank of america and jpmorgan, and our friend keith fitz if gerald of the fits if gerald group. -- fitzgerald group. gerard, give me your grade for the banks that have reported so far because, on the surface, they all beat estimates. dig deeper for our viewers. >> well, liz, what we saw in this quarter which we were anticipating considering that the fed has moved so aggressively in raising short-term interest rates was higher net interest margins which led to much stronger net interest revenue growth. so when you look at how they beat their numbers, generally the banks that reported today reported better than expected -- income growth, partially offset by -- [audio difficulty] slightly below nonif interest income or fee income growth. and as you might imagine, the fee income business was impacted by the investment banking business which, of course, was very weak mt. quarter. but overall, the results that came in benefited from better loan growth and better margins which led to this stronger net interest in