Banks are facing a tough environment of tepid loan demand and low interest rates. So it doesn’t take much to stand out.
Bank of America has so far seen the biggest share-price boost from earnings among the megabanks, jumping more than 3% on Thursday morning after reporting third-quarter results. Like its peers, total loans grew a bit from the prior quarter, and it generated lots of fees from Wall Street investment banking. But Bank of America also managed to generate year-over-year double-digit revenue growth while keeping expenses flat.