Bank Of America CEO Says Consumer Deposit Balances Of Bank Of America Remain 30% Higher Than Pre-Pandemic
Portfolio Pulse from Benzinga Newsdesk
During a conference call, the CEO of Bank of America reported that consumer deposit balances are currently 30% higher than they were before the pandemic.
January 12, 2024 | 4:09 pm
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Bank of America's consumer deposit balances have significantly increased, indicating strong consumer liquidity and potential for increased financial stability or growth.
The CEO's statement about higher consumer deposit balances suggests that Bank of America has a robust deposit base, which is a positive indicator of financial health and customer trust. This could lead to increased investor confidence in the short term, potentially driving the stock price up.
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