Bank of America reported lower-than-expected revenue and earnings, compounded by a $1.2 billion federal fine levied against the company. The bank's results were further pressured by weak fixed-income trading performance and significant settlement costs. Despite these challenges, the company has set a target of at least 8% growth in net interest income (NII) by 2027, supported by the expansion of loans and deposits.
The bank eyes long-term NII expansion through loan growth by 2027, offsetting current headwinds in fixed-income trading and elevated settlement costs.
Read the full storyBank of America missed revenue and earnings estimates as the federal government imposed a $1.2 billion regulatory fine on the banking giant.
