Bank of America hopes for loan growth bounce after muted quarter


Bank of America Corp posted a smaller-than-expected drop in fourth-quarter profit on Tuesday and said it was hopeful of achieving growth in loans this year as the economy recovers.

Loan portfolios have been quashed by the pandemic over the past year and the United States' second-largest bank reported a 2% fall in loans and 6% fall in credit card spending for the quarter. Underscoring its confidence in the economy, the bank joined peers JPMorgan Chase & Co and Citigroup Inc in releasing $828 million from its reserves to cover bad.....

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