Bank of America's profit rose in the first quarter, as market volatility boosted its trading fees, lifting the shares of the bank up 1.9% before the open.
Market volatility fueled by uncertainty around U.S. President Donald Trump's tariff decision helped BofA rake in 9% higher trading revenue, helped by a 17% jump in equities trading.
Rate cuts by the Federal Reserve last year had helped improve sentiment among borrowers, benefiting banks such as BofA, which had forecast record net interest income in 2025 before Trump unveiled the new tariffs.
Net interest income (NII) — the difference between what banks earn on loans and pay out on deposits — grew 3% to $14.4 billion.
Comments
Post a Comment