Bank of America broker Loss in 7 Days Second Quarter

stockmarket
The Bank of America Corp. Broker suffer a loss in 7 days during the second quarter, one of which lost U.S. $ 54 million, ending a perfect achievement in profit in the first 3 months of this year.

The bank’s brokerage profit in 57 trading days or 89% from the second quarter, down compared with the same period last year with a profit every day.

BoA based in Charlotte, North Carolina, said it was on Thursday (Friday pm) in a report to the regulator. The company is the second-largest U.S. lender after JPMorgan Chase & Co.

Chief Executive Officer Brian T. Moynihan, 53, boost trade to still achieve a profit as the cost of bad subprime mortgage division accumulate after buying Countrywide Financial Corp. In 2008.

Global markets division, overseen by co-Chief Operating Officer Thomas K. Montag, it helps the bank recorded a 63% increase in second quarterly revenue to U.S. $ 4.01 billion.

Advantage in the global markets division that does not include any adjustments that jumped 57% to U.S. $ 935 million, the bank said last month.

The increase in equity trading simply remove the 12% decline in revenue from fixed income, foreign exchange and commodity sales and trading.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>