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Thursday, June 1, 2017

Bank of America CEO talks down second-quarter expectations

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Bank of America CEO talks down second-quarter expectationsSpeaking at an industry conference, Moynihan said trading revenues are on track to be some 10 percent to 12 percent lower than the second quarter of 2016 because last year’s quarter was especially strong. Revenues will also be hurt by lower-than-anticipated interest rates and the fact that the bank closed the sale of its UK credit card business a month ahead of schedule, reducing net interest income for the quarter. Bank of America shares were down 2.4 percent in mid-morning trading.

June 01, 2017 at 12:24AM

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