Bank of America profit beats on lower costs, loan growth
Monday, 15 October 2018 Bank of America Corp reported a better-than-expected rise in quarterly profit on Monday as the second-largest U.S. lender benefited from cost cuts, while higher interest rates and loan growth helped offset weaker bond trading revenue.
According to Reuters, The U.S. banking industry is enjoying the benefits of a growing economy and lower taxes, and three of the largest lenders reported double-digit profit growth on Friday. The results reflected an array of positive business factors for banks. Their net interest margins - the...
Deutsche Bank's bleak third quarter results and revenue forecast overshadowed its assertion on Wednesday that it is on track to return to profit this year, knocking its shares. As Francis Maguire, in..