Bank of America’s lending business gets jolt off higher rates

BANK OF AMERICA reported a net of Net income of $7.2 billion in the third quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI
BANK OF AMERICA reported a net income of $7.2 billion in the third quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI
NEW YORK - Bank of America Corp. got another boost from rising interest rates in the third quarter. The firm’s lending business produced the most interest income since 2011 and its net interest margin climbed to 2.42 percent, better than analysts estimated. That helped propel profit to a record. The results follow similar good news…
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