Low rates bruise Bank of America profits into 2020

Bank of America Corp got stung by lower interest rates in the fourth quarter, sending its profit down 4%, a trend that management expects to continue this year. The Charlotte, North Carolina-based lender is especially vulnerable to rate movements because of the composition of its balance sheet. As the Federal Reserve cut rates three times […]

Citigroup earnings beat expectations on 49% fixed-income trading surge

Citigroup reported Tuesday quarterly results that easily beat analyst expectations, driven by strong fixed-income trading revenues along with growing sales from the bank’s consumer business. Here’s what the banking giant reported vs. what Wall Street analysts expected: Earnings: $1.90 per share vs. $1.84 per share expected by Refinitiv Revenue: $18.378 billion vs. Refinitiv forecast of […]