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Bank of America profit rises on investment banking boost

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Bank of America profit rises on investment banking boost

Jan 16, 2025 3:53 AM

Jan 16 (Reuters) - Bank of America ( BAC ) reported

higher profit on Thursday as its investment bankers capitalized

on resurgence in dealmaking in the fourth quarter.

The second-largest U.S. lender's net income rose to $6.7

billion, or 82 cents per share, it said on Thursday. That

compares with $3.1 billion, or 35 cents per share, a year

earlier.

(Reporting by Arasu Kannagi Basil in Bengaluru and Saeed Azhar

in New York, Editing by Lananh Nguyen and Anil D'Silva)

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