-Bank of America's profit rose in the third quarter as it joined rivals in earning more from interest payments by its customers, while investment banking and trading fared better than expected.
Meanwhile, lenders have seen their interest income swell as they had more room to charge customers higher rates on loans after the Federal Reserve raised borrowing costs in its fight against inflation.Lending giants JPMorgan Chase, Citigroup and Wells Fargo also reported a surge in NII on Friday and raised their forecasts for the key metric.
Charlie Munger is a fraction as wealthy as Warren Buffett. He'd be worth over $10 billion if he kept all of his Berkshire Hathaway stock. 'Money destroys families': Kevin O'Leary shares his hard-and-fast rule about lending cash to loved ones — here are 3 paths to financial freedom Posthaste: Cooling housing market could spur Bank of Canada to cut rates sooner, says economistNational Bank of Canada and another financial stock look like a great value at current prices. The post Now Is the Time to Buy These Financial Stocks appeared first on The Motley Fool Canada.