Rupee Marginally Weaker Amid Dollar Demand and RBI Intervention 
UK Economy Sees Marginal Growth Amid Tax Hikes and Business Caution 
Investors value green labels — but not always for the right reasons 
Why the Middle East is being left behind by global climate finance plans 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
Treasury Yields Dip as Dollar Gains Amid Fed Speculation 
Bitcoin Hits $100K Milestone Amid Optimism Over Trump Policies 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
JPMorgan Posts Strong Q4 Revenue Growth Amid Market Rally 
Stock Futures Slip as Amazon Tumbles on Weak Outlook, Eyes on Jobs Data 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
U.S. Stock Futures Rise as Trump Takes Office, Corporate Earnings Awaited 
Tech Stocks Rally in Asia-Pacific as Dollar Remains Resilient 
Ferrari Group to Launch IPO in Amsterdam, Targets Over $1 Billion Valuation 
UK Markets Face Rising Volatility as Hedge Funds Target Pound and Gilts 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Bank of America (BofA) exceeded expectations in its Q4 2024 earnings, driving shares up 2% in premarket trading. The bank reported earnings per share (EPS) of 82 cents, outperforming the 77-cent consensus estimate.
Total revenue, net of interest expenses, reached $25.3 billion, slightly ahead of the projected $25.13 billion. Net interest income (NII) stood at $14.36 billion, surpassing analysts’ forecasts of $14.12 billion. On a fully taxable equivalent (FTE) basis, NII reached $14.51 billion, topping the $14.34 billion projection.
Key performance metrics also outshined expectations. The return on average equity hit 9.37%, above the forecasted 8.75%, while the return on average assets was 0.8%, exceeding the 0.74% estimate. Additionally, the return on average tangible common equity reached 12.6%, beating the 11.9% forecast.
BofA’s CEO Brian Moynihan highlighted the bank's strong finish to 2024, noting growth in deposits and loans alongside increases in all revenue sources. He emphasized the bank's robust capital and liquidity position, which enabled $21 billion in shareholder returns during the year. Moynihan expressed confidence in the bank's momentum heading into 2025.
With better-than-expected results and strong financial metrics, Bank of America continues to demonstrate its resilience and growth potential, cementing its position as a key player in the financial sector.
