Bank of America (BAC) is expected to have recorded impressive trading revenue growth in the fourth quarter of 2020 on rise in market volatility and higher client activity.
Bank of America today announced that it directed more than $13 million in 2020 to Native American communities across the U.S. disproportionately impacted by the coronavirus. The funds included capital investments into Native American Community Development Financial Institutions (CDFIs) and philanthropic grants to nonprofits and institutions focused on meeting health, hunger and jobs-related needs in Native American communities as part of the bank’s overall efforts to advance economic opportunity and racial equality. Bank of America also donated personal protection equipment (PPE) masks, gloves and hand sanitizer to Native American communities last year.
Solid trading performance and decent investment banking performance is expected to have provided support to Bank of America's (BAC) fourth-quarter 2020 results.