Table of Contents:
Impressive financial results
Bank of America closed the fourth quarter of 2024 with a net profit of 6.7 billion dollars, a significant increase compared to 3.1 billion in the same period of 2023. This result led quarterly revenues to grow by 15%, reaching 25.3 billion dollars. Earnings per share rose to $0.82, showing a substantial improvement compared to $0.35 in the fourth quarter of the previous year
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Sustained growth in all sectors
The growth in net interest income showed an increase of 3%, reaching 14.4 billion dollars. Every business sector has contributed positively to revenue growth, with deposits and loans registering the most significant increases. The strength of capital and cash allowed the bank to return 21 billion dollars to shareholders in 2024, a sign of confidence in the financial stability of
the institution.
Prospects for the future
Brian Moynihan, president and CEO of Bank of America, expressed satisfaction with the results obtained, stating that this momentum well prepares 2025 for the bank. He thanked his team for another great year and emphasized the importance of leading the company in a solid economic environment. Expectations for the future are optimistic, with the bank ready to take advantage of growth opportunities in the market
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Global economic context
The global economic environment presents challenges and opportunities. The British giant BP has announced the reduction of 4,700 internal jobs and 3,000 among subcontractors to improve competitiveness. In addition, the Eurozone recorded an increase in its trade balance surplus, with assets of 16.4 billion euros, exceeding analysts’ expectations. European stock exchanges closed higher, following Wall Street gains, while Chinese stock exchanges showed slower progress.
