Bank of America’s Investment-Banking Unit on Track for 15% Revenue Growth
The bank’s sales and trading revenue totaled about $5 billion in the first quarter of last year.
Photographer: Andrew Harrer/Bloomberg
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Bank of America Corp.’s investment-banking unit is on track to report first-quarter revenue growth of as much as 15% from a year earlier, with sales and trading flat, Chief Financial Officer Alastair Borthwick said.
Improved capital-market activity should translate into revenue growth of 10% to 15%, Borthwick said Wednesday at an RBC Capital Markets conference in New York. Bank of America’s markets unit also is looking to match what was close to a record a year ago, he said.