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BofA Gets Boost From Loans as Clients Start Borrowing Again

  • Loan balances up as bank’s traders miss analysts’ expectations
  • New CFO touts ‘strong organic growth’ as the economy expands
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Bank of America 4Q Trading Revenue Misses Estimates
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Bank of America Corp. saw loan growth return with consumers and businesses beginning to take on debt again, while the company’s traders missed analysts’ expectations.

Average loan balances were up 1% in the fourth quarter from a year earlier, the bank said in a statement Wednesday. Lending has been a key focus for investors after demand remained weak for much of 2021, which is normally a bad sign for banks, but executives attributed depressed borrowing demand to companies and individual customers being flush with stimulus cash.