Higher interest rates, loans lift Bank of America profits

Higher interest rates, loans lift Bank of America profitsBank of America reported a jump in first-quarter earnings Monday on strong performance in key businesses thanks in part to a lift from higher interest rates. Like other large banks, Bank of America enjoyed a lift from higher interest rates, which enables financial institutions to score increased profits from the margin between its deposits and loans. Bank of America's global markets business experienced similar trends to other large banks that reported last week, with equity trading surging higher and offsetting weakness in fixed income and currency trading.


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