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20.07.2019 21:03:00

Bank of America Keeps This Amazing 4.5-Year Streak Alive

Ten years ago, Bank of America (NYSE: BAC) was one of the more infamous brands on Wall Street. Yet a decade on from the financial crisis, the company has become one of the best-managed banks in the country.As evidence, the bank just posted a stronger-than-expected quarter, even in a challenging environment for banks. With expectations of slowing growth and potential Fed interest rate cuts, long-term interest rates have fallen, which has squeezed banks' margins.In fact, I had previously thought that the current environment could end Bank of America's streak of positive operating leverage. However, BofA managed to extend this streak to its 18th consecutive quarter. Here's how the company did it and why it's important.Continue reading
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