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Bank of America Releases COVID Stash, Doubles Profits

Research and Markets
·1-min read

Dublin, April 21, 2021 (GLOBE NEWSWIRE) -- ResearchAndMarkets.com published a new article on the banking industry "Bank of America Releases COVID Stash, Doubles Profits"

With the pandemic economic crisis fading, Bank of America said it had released $2.7 billion of the cash it had socked away last year for possible losses. The move doubled its first-quarter profits - from $4.01 billion in 2020 to $8.05 billion.

Consumers’ increasing use of digital banking was a key driver of the bank’s growth; active digital banking users hit 40.3 million, up 3 percent in the first quarter. The company added that digital sales were nearly half, 49 percent, of all “consumer banking sales.” This continued growth included an outsized 2.6 billion digital logins in the first quarter of 2021.

The article on ResearchAndMarkets.com contains a selection of reports on banking such as:

  • Global Fintech Evolution 2020 Report

  • Global Regtech Buyer's Guide 2021

  • Review of e-Commerce Best Practices All Over the World 2020 - Market Analysis and Trends, Rating, 200+ Best Practices

To see the full article and a list of related reports on the market, visit "Bank of America Releases COVID Stash, Doubles Profits"

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