Brian Moynihan, CEO, Financial institution of AmericaScott Mlyn | CNBCBank of America CEO Brian Moynihan mentioned Wednesday the lender's prospects
Brian Moynihan, CEO, Financial institution of America
Scott Mlyn | CNBC
Bank of America CEO Brian Moynihan mentioned Wednesday the lender’s prospects spent about 5.5% extra this 12 months over 2018, a bullish signal for the U.S. economic system.
“Individuals are spending, and that is excellent news for the U.S. economic system,” Moynihan instructed CNBC’s Wilfred Frost on “Squawk Alley.” “That helps maintain this lengthy, lengthy development session we have had.”
Moynihan mentioned the info comes from greater than $Three trillion in Financial institution of America card transactions, checks and ATM withdrawals.
Earlier Wednesday, Moynihan instructed analysts at a convention that fourth-quarter buying and selling income is anticipated to climb 7% to eight% from a 12 months earlier, and that funding banking income was headed 3% to 4% larger.
Financial institution of America shares have surged 37% this 12 months amid a broad rebound in financial institution shares.