Bank of America Corp. is keeping its guidance unchanged for expenses and net interest income for the second half of the year.
“We haven’t given up the fight,” Chief Financial Officer Alastair Borthwick said at a conference hosted by Barclays Plc Monday. “The key will be for us to drive organic growth and maintain expense discipline.”
Still, Borthwick said it’s going to be harder to keep NII at current levels. “I think that’s why we’re so focused on expense discipline,” he said. “At the same time, we’re pretty good at this.” At the same time, loan growth has slowed at Bank of America, according to Borthwick, with commercial borrowing and card spending down as consumers and corporations take on less debt.
Borthwick also hinted that the two biggest drivers to earnings and NII are the markets and trading business.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Fortunes for Mega- and Small-Cap Stocks Poised to Flip, Bank of America SaysThe wind is about to shift for the US stock market, if history is any guide, says Bank of America Corp.
Lire la suite »
Bank of America says Q3 investment banking fees down 30%-35% for sectorNEW YORK (Reuters) - Investment banking fees are down 30% to 35% in the third quarter from a year earlier for the sector, but Bank of America will fare ...
Lire la suite »
New safety guidance sets up corporate self-regulation of GMOsHealth Canada and the Canadian Food Inspection Agency both recently updated their guidance on regulating genetically engineered foods and seeds.
Lire la suite »
Kiermaier lifts Blue Jays over Royals 5-2; Toronto keeps pace in wild-card huntTORONTO — Kevin Kiermaier's seventh-inning home run lifted the Blue Jays over the Kansas City Royals 5-2 on Sunday as Toronto kept pace in the American League's wild-card chase.
Lire la suite »
Kiermaier lifts Blue Jays over Royals 5-2; Toronto keeps pace in wild-card huntTORONTO — Kevin Kiermaier's seventh-inning home run lifted the Blue Jays over the Kansas City Royals 5-2 on Sunday as Toronto kept pace in the American League's wild-card chase.
Lire la suite »
Kiermaier lifts Blue Jays over Royals 5-2; Toronto keeps pace in wild-card huntTORONTO — Kevin Kiermaier's seventh-inning home run lifted the Blue Jays over the Kansas City Royals 5-2 on Sunday as Toronto kept pace in the American League's wild-card chase.
Lire la suite »