Bank of America posts higher than expected quarterly profit
Underscoring its confidence in the US economy, the bank releases $800m set aside to cover coronavirus-driven loan losses
19 January 2021 - 16:38
Bengaluru — Bank of America posted a drop in fourth-quarter profit on Tuesday that still topped Wall Street expectations and pointed to signs of an economic recovery as the pace of consumer spending gathers steam.
Underscoring its confidence in the economy, the bank joined peers JPMorgan Chase and Citigroup in releasing some of the cash it had set aside to cover coronavirus-driven loan losses. It released $800m...
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