Bank of America Q1 Provision For Credit Losses Of $1.3B, Up From $1.1B In Q4
Portfolio Pulse from Benzinga Newsdesk
Bank of America reported a Q1 provision for credit losses of $1.3 billion, an increase from $1.1 billion in Q4, indicating a rise in expected credit losses.
April 16, 2024 | 10:46 am
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Bank of America's Q1 provision for credit losses increased to $1.3 billion from $1.1 billion in Q4, suggesting a potential rise in expected credit losses.
The increase in the provision for credit losses indicates that Bank of America is expecting higher credit losses, which could be a sign of financial stress or deteriorating credit quality among borrowers. This news is likely to concern investors as it may impact the bank's profitability and financial health in the short term.
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