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Loan Growth, Low Costs, Lower Tax Drove Bank of America’s Q3 2018

Andrew Brunton
Loan Growth, Low Costs, Lower Tax Drove Bank of America’s Q3 2018

On October 15, Bank of America (BAC) reported overwhelmingly positive third-quarter results. Its top and bottom lines not only beat analysts’ expectations but also marked significant YoY (year-over-year) improvement. The second-largest US bank after JPMorgan Chase (JPM), BAC benefited from higher spreads, loan growth, cost controls, and lower taxes.