Bank of Amer­ica re­sults lifted by Trump tax cuts

The Daily Telegraph - Business - - Business -

Bank of Amer­ica be­came the lat­est US bank to hail the “Trump bump”, with its net prof­its hav­ing soared 30pc in the first quar­ter. BoA said its net in­ter­est in­come was up 5pc in the pe­riod, help­ing push its to­tal rev­enue up 4pc to $23.1bn (£16.1bn). It fol­lows up­dates from Cit­i­group and JP Mor­gan Chase last week in which they said tax re­forms were be­gin­ning to boost per­for­mances.

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