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Higher Interest Rates Drove BAC’s Consumer Banking Revenues in Q3

Andrew Brunton
Higher Interest Rates Drove BAC’s Consumer Banking Revenues in Q3

In the third quarter, Bank of America’s (BAC) CB (Consumer Banking) segment’s revenues increased 7.0% YoY to $9.4 billion. This increase was driven by a 10.0% increase in net interest income and partially offset by a modest decline in non-interest income.