A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019.
BofA's investment banking and trading units managed to outperform Wall Street expectations as they reported higher revenue, bucking an industry-wide slump.
Total investment banking fees rose 2% to $1.2 billion, while sales and trading revenue was up 8% to $4.4 billion in the third quarter.
BofA's net interest income (NII) rose 4% in the third quarter to $14.4 billion.
BofA's revenue, net of interest expense, increased 3% in the quarter to $25.2 billion.
Persons:
Carlo Allegri, Brian Moynihan, BofA, Wells, Manya Saini, Nupur Ananad, Saeed Azhar, Lananh Nguyen, Anil D'Silva
Organizations:
of America, REUTERS, Bank of America, Federal Reserve, Lending, JPMorgan Chase, Citigroup, Thomson
Locations:
Manhattan, New York City , New York, U.S, NII, Bengaluru, Nupur, New York