Bank of America CFO Alastair Borthwick said first-quarter results were strong ‘despite a challenging economic environment with market and banking sector volatility’
also reaped windfalls from higher interest payments in the first quarter, while setting aside billions of dollars to prepare for a worsening economy.
Deposits at BofA fell 2 per cent to $1.05-trillion in the first quarter, compared with the fourth quarter.Traders in fixed income, currencies and commodities stayed in high demand, bringing in $3.5-billion in revenue for BofA, up 27 per cent from a year earlier.
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