Bank of America Corporation

Bank of America Corporation

Bank of America appointed Adam Cady to the position of leader of a financial sponsors group on both American continents. Filip Rensky was named as vice chair of world financial sponsors.

Nearly all major banks topped third-quarter guidance, causing their stock prices to skyrocket. Sticking with giant banks may be the best way to deal with the consequences of a recession.

Bank of America CEO Brian Moynihan said a sharp increase in Federal Reserve interest rates would have a positive impact on the bank's profits in 2023.

On Monday, Bank of America Corp (BofA) representatives announced that its quarterly profit decreased less than expected 9% in view of interest rate growth, which supported the bank’s interest income and compensated a decline in investment banking.

Before the market opens, Bank of America will report on what it was able to accomplish during the third quarter.