Financials Brian Moynihan

More

  • *Fourth-qtr EPS $0.29 vs. est. Bank of America said on Tuesday its provision for credit losses in global banking increased by $264 million in the quarter ended Dec. 31, mainly due to higher energy-related charge-offs and reserve increases for energy exposure. The bank has $21.3 billion in energy-related loans, representing about 2 percent of total loans, Chief...

  • Reflecting this, Bank of America's provision for credit losses in global banking increased by $264 million in the quarter ended Dec. 31, mainly due to higher energy-related charge-offs and reserve increases for energy exposure. BofA said its net income attributable to common shareholders rose to $3.01 billion, or 28 cents per share, in the quarter, from $2.74...

  • BofA, the No. 2 U.S. bank by assets, said its net income attributable to common shareholders rose to $3.01 billion, or 28 cents per share, in the three months ended Dec. 31, from $2.74 billion, or 25 cents per share, a year earlier. BofA, whose shares were up 1.6 percent in premarket trading, has been hit by high legal costs since the financial crisis, undermining many of the...

  • NEW YORK, Dec 9- Citigroup Inc will take a $300 million "repositioning charge" in the fourth quarter to "resize infrastructure and capacity" throughout its businesses, Chief Financial Officer John Gerspach said on Wednesday. Citi will also add $300 million to $400 million in loan reserves from the third quarter for energy loans, based on the expectation that oil...

  • NEW YORK, Oct 14- Bank of America Corp said its wealth management business' income plunged 19 percent in the third quarter, underscoring how stock market selloffs can torpedo even an area that banks see as relatively safe and stable. The lower revenue helped cut net income in the bank's wealth and investment management unit, which includes its Merrill Lynch...

  • Of the three big U.S. banks that have reported quarterly results so far, only Wells Fargo& Co, the biggest mortgage lender, managed a rise in revenue and income from interests on loans- and that thanks mostly to its strategy of leveraging its hefty balance sheet to buy loans. JPMorgan Chase& Co and Bank of America Inc reported a fall on both measures as low interest...

  • Oct 14- Bank of America Corp reported a profit for the third quarter, compared with a year-earlier loss, as Chief Executive Brian Moynihan's cost-cutting efforts helped the bank mitigate the impact of weak revenue in three of its four main businesses. BofA has been slashing billions of dollars in costs in its commercial lending, investment banking and wealth...

  • Oct 14- Bank of America Corp reported a profit for the third quarter as Chief Executive Brian Moynihan's cost-cutting efforts helped the bank offset the impact of weak revenue in three of its four main businesses. BofA has been slashing billions of dollars in costs in its commercial lending, investment banking and wealth management businesses as overnight...

  • Bank of America earnings beat as legal costs drop Wednesday, 14 Oct 2015 | 8:35 AM ET
    Bank of America

    Bank of America earnings topped expectations, reversing a year-earlier loss related to a settlement with the government over mortgages.

  • Oct 14- Bank of America Corp reported a quarterly profit, compared with a year-earlier loss, as Chief Executive Brian Moynihan's cost-cutting efforts helped the bank put the problems stemming from the financial crisis further behind it. Moynihan, who took the top job at BofA in 2010, shook up the bank's management in July, replacing Chief Financial Officer...

  • UPDATE 1-BofA posts quarterly profit as expenses fall Wednesday, 14 Oct 2015 | 7:19 AM ET

    Oct 14- Bank of America Corp reported a quarterly profit, compared with a year-earlier loss due to a multi-billion dollar settlement with the U.S. government over mortgages. BofA, which has paid more than $70 billion in legal expenses since 2008, said its legal costs fell for the third straight quarter, dropping to $231 million from $6 billion a year earlier.

  • UPDATE 1-BofA to cut "a couple of hundred" jobs - WSJ Tuesday, 29 Sep 2015 | 1:35 PM ET

    Sept 29- Bank of America Corp is planning "a couple of hundred" job cuts at its global banking and markets unit, the Wall Street Journal reported. Bank of America, which had about 216,700 full-time employees as of June 30, declined to comment on the report. Bank of America's third-quarter trading revenue may fall between 5 percent and 6 percent due to weakness in its...

  • BofA to cut "a couple of hundred" jobs - WSJ Tuesday, 29 Sep 2015 | 11:35 AM ET

    Sept 29- Bank of America Corp is planning "a couple of hundred" job cuts at its global banking and markets unit, the Wall Street Journal reported. Bank of America, which had about 216,700 full-time employees as of June 30, could not be immediately reached for comment. Bank of America's third-quarter trading revenue may fall between 5 percent and 6 percent due to...

  • BOSTON, Sept 22- An executive for State Street Global Advisors said it voted to let Bank of America Chief Executive Brian Moynihan keep his additional title of chairman, votes that helped him retain the role at the bank's shareholder meeting held earlier on Tuesday. Rakhi Kumar, head of corporate governance for State Street Corp's asset management arm, said in an...

  • BOSTON/ NEW YORK, Sept 22- Bank of America Corp shareholders voted to allow Chief Executive Brian Moynihan to remain as chairman, handing a victory to a CEO who has been slowly turning the bank around since the financial crisis. "Shareholders sent a message to the board that they are not happy," said Mike Mayo, a veteran banking analyst at CLSA Americas.

  • Mike Mayo: Sell Bank of America Tuesday, 22 Sep 2015 | 12:36 PM ET
    Mike Mayo: Sell Bank of America

    CLSA bank analyst Mike Mayo, reacts to the shareholder decision to keep together the role of CEO and chairman role at Bank of America

  • BofA's Moynihan: Good to have support Tuesday, 22 Sep 2015 | 11:38 AM ET
    BofA shareholders let Moynihan keep CEO, chairman roles

    CNBC's Kayla Tausche reports on Bank of America's vote to allow Brian Moynihan to keep both chairman and CEO roles.

  • BOSTON/ NEW YORK, Sept 22- Bank of America Corp shareholders voted to allow Chief Executive Brian Moynihan to remain chairman of the bank after a group of investors had sought to strip him of that title. Bank of America won this vote, but overall independent chairmen are becoming more common, according to executive search firm Spencer Stuart. Twenty-eight percent...

  • Sept 22- Bank of America shareholders voted Tuesday to allow CEO Brian Moynihan to keep his chairmanship.

  • Sept 22- The Canada Pension Plan Investment Board said on Tuesday it has voted to strip Bank of America Corp Chief Executive Officer Brian Moynihan of his chairman's title, the biggest shareholder so far to declare its intentions in a closely watched corporate governance contest. The Canada Pension Plan Investment Board controls 103 million shares of the...