Bank Of America Q2 Provision For Credit Losses $1.125B vs $523M YoY
Portfolio Pulse from Bill Haddad
Bank of America has reported a Q2 provision for credit losses of $1.125 billion, up from $523 million year-over-year.
July 18, 2023 | 10:47 am
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Bank of America's provision for credit losses in Q2 has more than doubled compared to the same period last year.
The significant increase in provision for credit losses indicates a higher expectation of defaults, which could negatively impact Bank of America's profitability and hence its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100