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Bank of America Q2 profits drop as higher interest rates slow down lending

16 July 2024
in USA
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Bank of America Q2 profits drop as higher interest rates slow down lending
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The Bank of America reported a drop in profits for the second quarter as higher interest rates led to a slowdown in lending activity. The bank’s net income fell by 19% to $7.3 billion, with revenue also declining by 4% to $22.6 billion. Despite the decrease in profits, the bank remains optimistic about its future performance.

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Tags: AmericaBankdropHigherinterestlendingprofitsRatesSlow
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