The Business Times
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Bank of America Corp

Banking & Finance

Wall Street banks cut more than 5,000 jobs even as they notch record profits

The banks’ willingness to trim headcount shows they are eyeing AI to help them do more with less

The bank reported a net income of US$8.6 billion, or US$1.11 per share, in the three months ended March 31, compared with US$7.4 billion, or 89 US cents per share, in the year earlier.
Banking & Finance

Bank of America profit rises as trading shines

Sales and trading revenue rose 13% to US$6.4 billion in the first quarter

JPMorgan analysts forecast that America’s biggest banks will issue about US$35 billion in bonds this quarter.
Banking & Finance

Big US banks set to temper bond sales after strong 2026 debut

Sales will occur after the six firms release first-quarter results

Executives from three firms, including Goldman Sachs, say the plan “reduces the likelihood of abrupt and destabilising clearing fund reallocations during periods of market stress”.
Banking & Finance

Goldman, BOA, Citadel clash with retail brokers over options clearing

Three firms back controversial plan to revamp how member-funded default pots are tallied up

The Reit will feature South-east Asian assets of JD Property, Swiss investment firm Partners Group Holding and Hillhouse-backed EZA Hill Property Management.
Property

JD.com-backed group picks banks for IPO of Singapore Reit: sources

The listing, which could raise about S$1 billion, may take place as soon as this year

Bank of America is one of the last big US banks to make a formal commitment to private credit.
Banking & Finance

Bank of America commits US$25 billion of its own cash to private credit deals

Some lenders have formed partnerships with asset managers in order to get deeper into the market

Wall Street’s year-end rewards are notoriously volatile as the industry cycles through booms and busts.
Banking & Finance

Goldman, JPMorgan and Bank of America boost banker, trader bonus pools by at least 10%

The payouts reflect a strong year for the US largest banks

Lawmakers have taken aim at card interest rates, often hovering above 20% in recent years, as one way to relieve some financial pressures on consumers.
Banking & Finance

Bank of America, Citigroup weigh new cards with 10% rate

Some bank executives have publicly said that they agree with Trump’s focus on affordability

Last week, BOA beat estimates for fourth-quarter profit, as its traders capitalised on volatile markets, and it brought in higher income from interest payments.
International

Bank of America to award stock worth US$1 billion to non-executive employees

It marks the ninth straight year of employee awards at the second-largest US bank

Its shares climbed over 25 per cent in 2025, beating the broader S&P 500 index, but lagging rivals JPMorgan Chase and Wells Fargo.
Banking & Finance

Bank of America profit climbs as trading surges in volatile markets

Its sales and trading revenue rose 10% to US$4.5 billion in Q4

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