Bank Of America CFO Said Adding A Million Credit Cards Per Quarter; Said Loan Growth Has Been A Little Disappointing
Portfolio Pulse from Charles Gross
Bank of America's CFO has stated that the bank is adding a million credit cards per quarter, but also expressed disappointment over the bank's loan growth.
September 20, 2023 | 11:42 am
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NEUTRAL IMPACT
Bank of America's credit card growth is strong, but loan growth is underperforming, which could impact the bank's revenue and profitability.
The strong growth in credit cards indicates a potential increase in consumer spending, which could boost Bank of America's revenue. However, the disappointing loan growth could indicate a slowdown in business or personal borrowing, which could negatively impact the bank's revenue and profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100