Reported 16 days ago
Bank of America reported a significant increase in third-quarter earnings, with profits rising 23% to $8.47 billion, thanks to robust consumer spending and a busy investment banking summer. The bank's net revenue also exceeded expectations, reaching $28.09 billion, and it achieved record net interest income of $15.2 billion. Despite broader economic uncertainties, the bank reported low loan losses and a strong commercial loan portfolio growth of 13% year-on-year, reflecting a healthy financial market environment.
Source: YAHOO