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FINANCIALS: Bank Of America: Pre-Tax 2%> Consensus, Headlines Solid

FINANCIALS

Bank of America (BAC: A1/A-/AA-) results headlines look solid; CET1 and loan losses both in line, NPLs better, as is pre-tax profit.

  • “*BAC 2Q BASEL 3 ADV. APPROACH CET1 RATIO 13.5%, EST. 13.5%
  • *BAC 2Q PROVISION FOR CREDIT LOSSES $1.51B, EST. $1.5B
  • *BAC 2Q REV. NET OF INTEREST EXPENSE $25.38B, EST. $25.27B
  • *BAC 2Q EQUITIES TRADING REV. EX-DVA $1.94B, EST. $1.73B
  • *BANK OF AMERICA 2Q FICC TRADING REV. EX-DVA $2.74B, EST. $2.8B
  • Non-performers look better than consensus and pre-tax is c.2% better, as well.

Conf call is 1330 (London time) at: https://investor.bankofamerica.com/events-and-presentations/events/detail/20240716-q2-2024-bank-of-america-earnings-conference-call#register

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