Now is a smart time to own banks, said CLSA's bank analyst, Mike Mayo, on Wednesday.
"As simple as ABC, and the A is for asset quality, which remains very strong," said Mayo. "The B is for balance sheets, which is stronger than they've been in a couple decades, and the C is for consistency. Banks are to have much more consistency in their earnings results."
Mayo also added the letter V for volatility as there will be some ahead with Greece, regulations, earnings and capital markets.