Zions Bancorporation ZION ROTCE + P/TBV + Management Earnings Call Commentary.

 

Ryan Richards, CFO: "The forward curve as of March 31st assumed no rate changes over the next 12 months. If that plays out, we estimate net interest income growth of about 7%-8%, which would exceed our guide." "We've also taken note of the Basel III endgame proposal, as others have noted in this earnings cycle. There's some good things in that proposal for us and others in terms of what it would imply about RWA moving forward."

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Harris Simmons, CEO, Q1 2026 earnings call: "People are looking for savings through technology. I came across just our headcount back in 2008. Now, that was 18 years ago. There's nothing magic about the year except that our headcount is down 20%. Back then, we were about a $54 billion company. You have to inflation-adjust that. But even with that, it's about a 25% improvement in productivity per $1 of real assets. AI is becoming a part of that. My view is AI, it's a new shiny object, but a lot of different technologies have led to improvement in productivity over the years. I think this has the promise of accelerating it somewhat."