Archive for Bank of America

Strong Citi and BoA results continue bank resurgence

Both Citi and BoA reported betterthanexpected results in the second quarter following the examples of JP Morgan Chase and Goldman Sachs.

Citigroup profits rise Bank of America’s fall

Bank of America posted lower profits on Friday and Citibank relied on a oneoff gain to turn a profit following strong showings from their peers which have driven stocks higher.

Paulson says he was right to threaten to oust BoA chief Lewis

Hank Paulson the former US Treasury Secretary says he was right to threaten to oust Bank of America chief executive Ken Lewis.

Paulson to defend BoA threats

Hank Paulson the former US Treasury Secretary will today defend as “appropriate” his threat to oust Bank of America chief executive Ken Lewis if he had scuttled a planned merger with Merrill Lynch on the grounds of risks posed to financial stability.

Private banks ‘must restructure to survive’ after asset base falls 16.7pc

Private banks must radically restructure in order to survive say experts after research shows the sector’s asset base fell 16.7pc during 2008.

Bank of America faces anger over huge retention bonuses

Statefunded Bank of America has been accused of handing multimilliondollar retention bonuses to former Merrill Lynch investment bankers in order to keep top talent.