Strong second quarter for US banks
NEWS
Bank of America (BoA), Citigroup, JP Morgan, State Street and Merrill Lynch all recorded strong figures for the second quarter versus the same period last year.
At BoA, revenues from capital markets and advisory services reached $2.12 billion, up 39% on the second quarter of 2005. Net income increased 57% to $504 million.
BoA benefited from positive sales and trading results in liquid products – which encompasses FX – credit products and structured products. This was due to previous investments
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