NEW YORK (AP) — Bank of America’s second quarter profit more than doubled from a year earlier, as the consumer banking giant was able to move more loans onto the “good” side of its balance sheet as the pandemic wanes.
BofA is the latest of the big Wall Street banks to report stronger profits this quarter, largely due to the improving economy and fewer borrowers being delinquent on their loans. But like other banks, BofA saw a decline in interest income and revenues from a year earlier because of lower interest rates.
