Tuesday's Earnings Report: US Banks Beat Estimates As Higher Interest Rates, Fees Offer Profit Boost - Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS), Charles Schwab (NYSE:SCHW)

Tuesday's Earnings Report: US Banks Beat Estimates As Higher Interest Rates, Fees Offer Profit Boost - Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS), Charles Schwab (NYSE:SCHW)

The quarterly figures of major US banks are mixed. While Bank of America is increasing earnings, Morgan Stanley's M&A business is weighing on earnings.

Bank of America profit up on boost from interest income

Bank of America's profit rose nearly 20% in the second quarter as it earned more from customers' loan payments, while its investment banking business fared better than expected.

Bank of America profit surges 19% on higher interest income

Net income jumped to $7.4bn as revenue, net of interest expense, increased 11% to $25.2bn

Profits At Bank Of America Surge 19% As Interest Income Rises

(CTN News) – A 19% increase in net interest income drove Bank of America’s second-quarter net profit up 19% from the year before. In the three months to June 30, the lender’s net profit soared to $7.4 billion, or $0.88 per diluted share, while revenue increased by 11 percent to $25.2 billion. The lender reported […]

Page 1: The second-largest US financial house was able to increase its profits by a fifth. According to the Group CEO, a growing customer base also contributed to this. The share is up on the pre-market.