Brokerage Bets Pay Off for Banks as Investors Yawn at Profits

Brokerage Bets Pay Off for Banks as Investors Yawn at Profits

Victor J. Blue/Bloomberg

Bank of America posted a net loss in consumer real estate and set aside more money to cover defective mortgages from the financial crisis. Meanwhile, revenue from its wealth division rose 6.6 percent to $4.42 billion, or 19 percent of the bank’s total revenue.