Bank of America topped profit expectations due to increased revenues from its consumer business in the second quarter of 2019, but had an underwhelming three months in investment banking. This performance mirrored that of its Wall Street rivals.
The US bank reported net profits of $7.3bn, up 8% on the same period the previous year – a figure that was well ahead of analyst predictions of $6.8bn. Group revenues were $23.1bn, broadly in line with expectations and up 2% on the previous year.
