BofA’s interest income declines even after Fed rate hikes

Laura J. Keller

07/18/2017

BANK OF AMERICA CORP. posted a second quarter decline in interest income despite speculation that the bank would heavily profit from rising federal interest rates. / BLOOMBERG FILE PHOTO/RON ANTONELLI

NEW YORK - Bank of America Corp.’s expected bonanza from rising interest rates has stalled. The lender, viewed as the most sensitive to rate changes among United States banks, reported a surprise drop in net interest income in the second quarter, after a 7 percent jump in the first three months of the year. Its…

Register to keep reading or subscribe today and receive unlimited access.
Already a Subscriber?

If you have already logged in and are still seeing this message, please refresh the page as your browser is caching the old content.

Want to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.