BofA has ways to go to hit $53B cost target this year

Updated at 1:16 p.m.

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BANK OF AMERICA posted a $2.37 billion net income for the fourth quarter. / BLOOMBERG FILE PHOTO/DAVIS TURNER
BANK OF AMERICA posted a $2.37 billion net income for the fourth quarter. / BLOOMBERG FILE PHOTO/DAVIS TURNER
NEW YORK - Bank of America Corp. once excited investors by pledging steep cost cuts by the end of this year. It still has a ways to go. The lender showed promise on revenue growth, as net interest income jumped to the highest in more than five years and revenue from trading and investment banking both…

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