Bank of America triumphantly ended 2021

Bank of America reported quarterly profit growth of 30 percent, which is better than expected. The profit was driven by the growth of the value of loans and the record volume of mergers and acquisitions in the field of investment banking.

With enough cash and encouraged by rising stock market valuations, big buybacks, companies and financiers closed billion-dollar deals in the fourth quarter, paying $ 850 million in BoA advisory costs, up 55 percent from a year earlier.

Loans grew in the last quarter of last year in all categories except home equity, with average loans and leases, up 3.4 percent from the previous quarter and 3.2 percent from a year ago, the bank said.

It started last year with “green spending” and culminated in a record $ 50 billion in credit growth this (last) quarter. “We notice that these borrowers have a strong capacity to continue borrowing,” the BoA said.

Combined credit and debit card spending rose 22 percent to $ 212 billion in the last quarter of 2021. Overall, earnings rose to $ 6.77 billion, or 82 cents a share, for the last quarter. According to analysts, earnings were expected to be 77 cents per share.

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