Why Oppenheimer Remains Bullish on Banks Despite Lower Rates

The transcript discusses the impact of rate cuts on bank earnings, highlighting that despite lower rates, banks are expected to maintain high single-digit earnings growth due to their strong profitability and share buybacks. It contrasts investor preferences for companies like Visa and MasterCard over traditional banks like Citibank, despite the latter's significant earnings. The discussion also covers the substantial capital returns approved for banks, emphasizing their real cash earnings. The overall message is that banks remain a strong investment choice even in a rate-cutting environment.

Why might investors prefer companies like Visa and MasterCard over Citibank?

What does the comparison of Citibank's earnings to those of Visa and MasterCard suggest about its profitability?