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Bank of America Corp

BofA asks Fed to clarify stress test results

NEW YORK: Bank of America Corp (BofA) said on Monday it had begun a dialogue with the Federal Reserve to understand...

Published 04 Jul, 2023 05:07am

Markets

First Republic Bank deposits tumble more than $100bn as it explores options

First Republic Bank shares sank more than 20% after the closing bell on Monday as it said deposits plunged by more...

Published 25 Apr, 2023 11:54am

Markets

Dow leads Wall St losses as Goldman, J&J results disappoint

NEW YORK: The Dow led declines among US stock indexes on Tuesday after quarterly updates from Goldman Sachs and...

Published 19 Apr, 2023 06:36am

Business & Finance

BofA profit beats estimates as higher rates bolster interest income

Bank of America Corp reported a bigger-than-expected fourth-quarter profit on Friday, helped by a surge in net...

Published 13 Jan, 2023 06:36pm

Markets

US banks get ready for shrinking profits and recession

NEW YORK: US banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile...

Published 10 Jan, 2023 12:01pm

Markets

Wall Street jumps as BoA results spark rally

NEW YORK: Wall Street’s main indexes jumped on Monday as Bank of America led a rally among lenders after reporting...

Published 18 Oct, 2022 06:02am

Business & Finance

Bank of America profit drops on loan-loss reserve build

Bank of America Corp joined other big U.S. banks in reporting a 9% drop in third-quarter profit on Monday as it set...

Published 17 Oct, 2022 04:39pm

Markets

Easing rate-hike bets, bank earnings lift Wall Street

NEW YORK: US stock indexes rose on Monday after earnings from big banks beat expectations for profit, extending last...

Published 19 Jul, 2022 06:00am

Markets

Bank of America beats profit estimates on strength in consumer lending

Bank of America Corp reported a smaller-than-expected 13% fall in first-quarter profit on Monday, as strong growth...

Published 18 Apr, 2022 05:32pm

World

Supply chain problems crimp profit at Buffett's Berkshire Hathaway

NEW YORK: Warren Buffett's Berkshire Hathaway Inc said on Saturday that global supply chain disruptions kept a lid ...

Published 07 Nov, 2021 05:39am

Business & Finance

Bank of America to seek approval for securities firm in China

Bank of America Corp is planning to file an application to set up a securities firm in China as part of its strategy...

Published 01 Nov, 2021 08:11pm

Business & Finance

Bank of America profit beats on strength across businesses

NEW YORK: Bank of America Corp beat estimates for third-quarter profit on Thursday, boosted by strong growth across...

Published 18 Oct, 2021 04:42am

Business & Finance

Bank of America to raise US minimum hourly wage to $25 by 2025

Bank of America in March last year raised its minimum wage to $20 per hour and since 2010, its minimum hourly wage will have increased by more than 121%, it said.
JPMorgan Chase & Co, the biggest US bank, had said three years ago that it would increase minimum pay by about 10% to between $15 and $18 per hour in more than 100 cities.

Published 18 May, 2021 09:10pm

Business & Finance

Bank of America profit more than doubles on reserve release boost

The second-largest US bank by assets unlocked $2.7 billion from its reserves and unveiled a $25 billion stock repurchase plan, betting on a swift economic recovery driven by rapid vaccinations.
Consumer banking revenue at the bank, however, fell 12% to $8.1 billion in the quarter ended March. Net interest income, a key measure of how much the bank can make from lending, fell 16% to $10.2 billion in the quarter.

Published 15 Apr, 2021 04:13pm

Markets

Nasdaq futures fall nearly 2pc as bond yields spike

Futures off: Dow 0.06%, S&P 0.57%, Nasdaq 1.76%.
Nasdaq 100 e-minis were down 230 points, or 1.76%, S&P 500 e-minis were down 22.5 points, or 0.57%, and Dow e-minis were down 18 points, or 0.06%.

Published 12 Mar, 2021 05:38pm

Business & Finance

Morgan Stanley profit races past estimates as trading shines

High trading volumes during the quarter, stemming from the US elections and the release of coronavirus vaccines.
Morgan Stanley's equity underwriting revenue soared 81% from a year earlier, driven by high profile IPOs and follow-on offerings as clients continued to access capital markets.

Published 20 Jan, 2021 08:40pm

Business & Finance

Big US banks hunger for loans, capital relief as deposits pile up

JPMorgan Chase & Co, Bank of America Corp and Citigroup took in more than $1 trillion in deposits last year, compared with a $92 billion increase in 2019.
Big banks will not shun deposits due to the dynamic, executives said, because doing so could hurt their franchises.

Published 20 Jan, 2021 06:52pm

Business & Finance

Bank of America profit beats estimates on trading strength

Net income applicable to common shareholders fell to $5.21 billion, or 59 cents per share, for the quarter ended Dec. 31 from $6.75 billion, or 74 cents per share.
Reported a 13% fall in consumer banking revenue to $8.2 billion,

Published 19 Jan, 2021 06:00pm

Business & Finance

Bank of America wades into digital financial planning space

Life Plan, a new functionality on Bank of America's website and app, allows customers to set multiple goals like buying a home.
Planning is no longer an activity that's born out of how much money you have.

Published 06 Oct, 2020 01:50am

Business & Finance

Banks eye layoffs as short-term crisis ends, long-term costs emerge

Compared with April projections, bank economists and executives expect the US economy to take longer to recover.
No question, layoffs (will) come across the board for all the banks," said Barry Schwartz, chief investment officer at Toronto-based Baskin Wealth Management.

Published 28 Aug, 2020 04:17pm

Business & Finance

BofA resolves US disability discrimination claims in mortgage lending

The second largest US bank had adopted the lending policy in January 2010 in response to the global financial crisis.
Bank of America agreed in the settlement to pay $4,000 to compensate each affected loan applicant, with payments expected to total about $300,000, the Justice Department said.

Published 24 Jul, 2020 01:29am

Business & Finance

Bank of America profit more than halves on pandemic woes

Net income applicable to common shareholders fell to $3.28 billion, or 37 cents per share, for the quarter ended June 30 from $7.11 billion.
Strong capital markets results provided an important counterbalance to the COVID-19-related impacts on our Consumer business.

Published 16 Jul, 2020 05:40pm

Business & Finance

Trading, underwriting soften profit plunge for some US banks

Capital markets-centered banks Goldman Sachs Group Inc and Morgan Stanley to report net income declines of 15% to 40% compared with the year-ago period.
Wells Fargo & Co, which does not have a major capital markets business, may even swing to a loss.

Updated 09 Jul, 2020 05:27pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 18	278.55
USD PKR Interbank Buying / Dec 18	278.25
USD to Japanese Yen / Dec 18	153.63
USD to Swiss Franc / Dec 18	0.89
Pound Sterling to USD / Dec 18	1.27
Euro to USD / Dec 18	1.05

Stock	Volume
S&P 500 / Dec 17	6,050.61
Nasdaq / Dec 17	20,109.06
Dow Jones / Dec 17	43,449.90
India Sensex / Dec 18	80,231.76
Tokyo Nikkei / Dec 18	39,081.71
Hang Seng / Dec 18	19,857.31
FTSE 100 / Dec 18	8,222.99
Germany DAX 30 / Dec 18	20,267.35

Item	Value
Gold 10 Grams PKR / Dec 17	241,860
Petrol/Litre / Dec 18	252.10
Crude Oil USD/Barrel / Dec 18	70.43
Karachi Cotton PKR/37.32 KG / Dec 18	17,585
Gold Spot USD/Ounce / Dec 18	2,644.54
Diesel/Litre / Dec 18	255.38

Gainers
Losers
Leaders

Stock	Price
LSE Capital / Dec 18 LSE Capital Limited(LSECL)	6.70 ▲ 1.00 (17.54%)
S.G.Power / Dec 18 S.G. Power Limited(SGPL)	9.17 ▲ 1.00 (12.24%)
Faran Sugar (R) / Dec 18 Faran Sugar Mills Limited (R)(FRSMR)	9.43 ▲ 1.00 (11.86%)
Gulshan Sp. / Dec 18 Gulshan Spinning Mills Limited(GSPM)	4.47 ▲ 0.42 (10.37%)
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	11.06 ▲ 1.01 (10.05%)
Oilboy Energy / Dec 18 Oilboy Energy Limited(OBOY)	11.50 ▲ 1.05 (10.05%)
Suhail Jute / Dec 18 Suhail Jute Mills Limited(SUHJ)	61.55 ▲ 5.60 (10.01%)
Attock Cement / Dec 18 Attock Cement Pakistan Limited(ACPL)	259.27 ▲ 23.57 (10.00%)
AL-Ghazi Tractors / Dec 18 Al-Ghazi Tractors Limited(AGTL)	564.23 ▲ 51.29 (10.00%)

Stock	Price
National Bank / Dec 18 National Bank of Pakistan(NBP)	66.38 ▼ -7.38 (-10.01%)
First Imrooz Mod. / Dec 18 First Imrooz Modaraba(FIMM)	180.01 ▼ -19.99 (-10.00%)
Imperial Limited / Dec 18 Imperial Limited(IML)	20.16 ▼ -2.24 (-10.00%)
J.A.Textile / Dec 18 J.A. Textile Mills Limited(JATM)	44.37 ▼ -4.93 (-10.00%)
Macter Int. Ltd / Dec 18 Macter International Limited(MACTER)	331.40 ▼ -36.82 (-10.00%)
Mari Petroleum / Dec 18 Mari Petroleum Company Limited(MARI)	728.78 ▼ -80.98 (-10.00%)
Synthetic Prod / Dec 18 Synthetic Products Enterprises Limited(SPEL)	45.89 ▼ -5.10 (-10.00%)
Biafo Ind. / Dec 18 Biafo Industries Limited(BIFO)	198.85 ▼ -22.08 (-9.99%)
Bilal Fibres / Dec 18 Bilal Fibres Limited(BILF)	12.61 ▼ -1.40 (-9.99%)

Stock	Volume
WorldCall Telecom / Dec 18 Worldcall Telecom Limited(WTL)	151,921,663 ▼ -0.15
Pak Elektron / Dec 18 Pak Elektron Limited(PAEL)	107,502,606 ▲ 0.34
Cnergyico PK / Dec 18 Cnergyico PK Limited(CNERGY)	67,234,901 ▼ -0.51
B.O.Punjab / Dec 18 The Bank of Punjab(BOP)	60,136,151 ▲ 0.13
Pak Refinery / Dec 18 Pakistan Refinery Limited(PRL)	55,973,468 ▼ -1.00
K-Electric Ltd. / Dec 18 K-Electric Limited(KEL)	46,669,770 ▼ -0.33
Sui South Gas / Dec 18 Sui Southern Gas Company Limited(SSGC)	42,923,281 ▲ 1.67
PIA Holding Co.Ltd / Dec 18 PIA Holding Company Limited(PIAHCLA)	36,897,118 ▼ -0.46
Aisha Steel Mill / Dec 18 Aisha Steel Mills Limited(ASL)	36,858,206 ▲ 1.01

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