BofA Investment Bankers, Traders Help Earnings Top Estimates

--

The second-largest US bank said that net interest income, a key source of revenue for the company, fell 2.9% to almost $14 billion. Analysts had expected a 3.4% drop for NII, the revenue collected from loan payments minus what depositors are paid. Last week, JPMorgan Chase & Co. and Wells Fargo & Co. both reported earnings that beat analysts’ estimates, with executives pointing to a surge in investment banking and trading boosting results. Both banks said that, despite pressure to net interest income, they expect they are nearing a trough in the closely watched figure.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BofA Investment Bankers, Traders Help Earnings Top Estimates(Bloomberg) -- Bank of America Corp.’s Wall Street operations performed better than expected as the company reaped the benefits of volatile markets while net...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Barclays adds investment bankers in Toronto, Calgary to senior ranksThe British bank is rebuilding its Canadian staff after more than a dozen left last year to join the Canadian arm of Jefferies Financial Group
Source: globeandmail - 🏆 5. / 92 Read more »

'An investment in Workday is an investment in AI': CEO says.Workday (WDAY) CEO Carl Eschenbach joins Asking for a Trend to discuss the HR software company's outlook and different avenues for growth. Eschenbach expects...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »