Bank of America says Q3 investment banking fees down 30%-35% for sector

NEW YORK, Sept 11 - Investment banking fees are down 30% to 35% in the third quarter from a year earlier for the sector, but Bank of America will fare better than that average, its chief financial officer said on Monday.

"We'll do slightly better than that," Alastair Borthwick told the Barclays Financial Services Conference, referring to investment banking fees for the industry. He also said income at the bank's global markets business should rise in the low, single-digit range from a year earlier. BofA in July posted strong gains for investment banking in the second quarter with net income surging 76% to $2.7 billion.Reporting by Saeed Azhar and Pritam Biswas; editing by Jonathan Oatis and Deepa Babington

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bank of America says Q3 investment banking fees down 30%-35% for sectorNEW YORK (Reuters) - Investment banking fees are down 30% to 35% in the third quarter from a year earlier for the sector, but Bank of America will fare ...
La source: SaltWire Network - 🏆 45. / 63 Lire la suite »

Fortunes for Mega- and Small-Cap Stocks Poised to Flip, Bank of America SaysThe wind is about to shift for the US stock market, if history is any guide, says Bank of America Corp.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »