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BofA Bolstered By Blockbuster FICC Haul, Solid NII
Last week's big bank results suggested America's largest financial institutions fared well in the first quarter, and even benefited from the dynamics which bedeviled some smaller players.
On Tuesday, Bank of America underscored the point, reporting a 25% rise in net interest income and trading results that handily topped estimates.
NII was $14.6 billion in Q1, ahead of the bank's guide from last quarter. Sequentially, NII slipped, as lower deposits and two fewer accrual days offset higher rate
