Bank of America Q1 profits rise as trading fees increase

(Sharecast News) - US banking giant Bank of America said on Tuesday that profits had risen in Q1 as market volatility due to uncertainty surrounding Donald Trump's tariff programme has given trading fees a boost. Bank of America said trading revenues were 9% higher in Q1, with equities trading jumping 17% during the period. Net interest income grew 3% to $14.4bn.

Earnings came to $7.4bn in the three months ended 31 March, up from $6.7bn in the same period a year earlier. On a per share basis, earnings improved by $0.14 to $0.90 each.

Chief executive Brian Moynihan said: "Though we potentially face a changing economy in the future, we believe the disciplined investments we have made for high-quality growth, our diverse set of businesses, and the team's relentless focus on Responsible Growth will remain a source of strength."

As of 1200 BST, Bank of America shares were up 1.99% in pre-market trading at $37.40 each.









Reporting by Iain Gilbert at Sharecast.com