Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul>
<li>Truist Financial Corporation's second quarter results for 2025 reflect both positive developments and challenges that point to a nuanced investment thesis.</li>
<li>The company reported a net income of $1.2 billion, or $0.90 per share, inclusive of restructuring charges and losses from securities sales.</li>
<li>Notably, loan balances increased by 3.3%, supported by growth across consumer and wholesale segments, indicating solid expansion in lending activities.</li>
</ul>


Truist Financial Corporation's second quarter results for 2025 reflect both positive developments and challenges that point to a nuanced investment thesis.
The company reported a net income of $1.2 billion, or $0.90 per share, inclusive of restructuring charges and losses from securities sales.
Notably, loan balances increased by 3.3%, supported by growth across consumer and wholesale segments, indicating solid expansion in lending activities.


Truist Financial Corporation: An Insight Into Its Sustained Loan Growth

<ul>
<li>Truist Financial Corporation's first quarter 2025 results present a mixed picture of both challenges and opportunities.</li>
<li>The company's net income available to common shareholders stood at $1.2 billion, translating to $0.87 per share.</li>
<li>This performance highlights Truist's resilience amidst a volatile market environment characterized by economic uncertainty and shifting yield curves.</li>
</ul>


Truist Financial Corporation's first quarter 2025 results present a mixed picture of both challenges and opportunities.
The company's net income available to common shareholders stood at $1.2 billion, translating to $0.87 per share.
This performance highlights Truist's resilience amidst a volatile market environment characterized by economic uncertainty and shifting yield curves.


Truist Financial Is Executing Bold Cost Cuts & Capital Moves But Is It Enough?

<ul>
<li>Truist Financial Corporation's fourth-quarter 2024 earnings reflect a company navigating both opportunities and challenges in a dynamic financial landscape.</li>
<li>The company reported net income available to common shareholders of $1.2 billion, or $0.91 per share, and achieved full-year GAAP net income of $4.5 billion, or $3.36 per share.</li>
<li>On an adjusted basis, net income was higher, standing at $5 billion or $3.69 per share.</li>
</ul>


Truist Financial Corporation's fourth-quarter 2024 earnings reflect a company navigating both opportunities and challenges in a dynamic financial landscape.
The company reported net income available to common shareholders of $1.2 billion, or $0.91 per share, and achieved full-year GAAP net income of $4.5 billion, or $3.36 per share.
On an adjusted basis, net income was higher, standing at $5 billion or $3.69 per share.


Truist Financial Corporation: 7 Major Game-Changers Impacting Its 2025 Performance & Beyond!

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<ul>
<li>US banks show continued strength and the overall economy, from the weekly balance sheet data and the CP market</li>
<li>Total loans continue to accelerate in most recent week to 5.4% and loan loss reserves show almost no growth, for many weeks</li>
<li>CP growth rate is less, but it remains high at 26% and this is a good sign of industrial demand for working capital</li>
</ul>


US banks show continued strength and the overall economy, from the weekly balance sheet data and the CP market
Total loans continue to accelerate in most recent week to 5.4% and loan loss reserves show almost no growth, for many weeks
CP growth rate is less, but it remains high at 26% and this is a good sign of industrial demand for working capital


US Banks - Further Accelerating Loans 5.4% YoY, Benign 0.56% LLR YoY, Credit Conditions Very Good

<ul>
<li>New high frequency data from the Fed in its weekly H8 series for US banks, shows loan growth at 5.22% YoY in week 12 November</li>
<li>There has not been a higher rate in a long time, since mid FY23 where the data is distorted from a low base effect in FY22</li>
<li>Steepening slope of weekly loan growth together with no real rise in loan loss allowance, gives a strong view of US credit metrics, demand</li>
</ul>


New high frequency data from the Fed in its weekly H8 series for US banks, shows loan growth at 5.22% YoY in week 12 November
There has not been a higher rate in a long time, since mid FY23 where the data is distorted from a low base effect in FY22
Steepening slope of weekly loan growth together with no real rise in loan loss allowance, gives a strong view of US credit metrics, demand


US Banks - New HFD Shows Loans Accelerating Further at 5.22% YoY, Highest Pace in 2 Years

United States

Truist Financial Corporation provides financial services. The Company offers wide range of services including retail, small business and commercial banking, asset management, capital markets, commercial real estate, corporate and institutional banking, insurance, mortgage, payments, and specialized lending and wealth management solutions.

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Truist Financial (TFC US)

Truist Financial Corporation: An Insight Into Its Sustained Loan Growth

Truist Financial Corporation's second quarter results for 2025 reflect both positive developments and challenges that point to a nuanced investment...

Baptista Research

Truist Financial Is Executing Bold Cost Cuts & Capital Moves But Is It Enough?

Truist Financial Corporation's first quarter 2025 results present a mixed picture of both challenges and opportunities.The company's net income...

Baptista Research

Truist Financial Corporation: 7 Major Game-Changers Impacting Its 2025 Performance & Beyond!

Truist Financial Corporation's fourth-quarter 2024 earnings reflect a company navigating both opportunities and challenges in a dynamic financial...

Baptista Research

US Banks - Further Accelerating Loans 5.4% YoY, Benign 0.56% LLR YoY, Credit Conditions Very Good

US banks show continued strength in weekly balance sheets, accelerating loan growth at 5.43% YoY with only 0.56% YoY growth in loan loss reserves....

Daniel Tabbush

US Banks - New HFD Shows Loans Accelerating Further at 5.22% YoY, Highest Pace in 2 Years

New weekly data from the Fed shows loans accelerating for US banks and with loan loss reserves still stable, suggesting strong credit market, overall.

Daniel Tabbush

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