Bank of America Profits Soar Amid Dealmaking Resurgence

Bank of America experienced a substantial profit increase in the fourth quarter, driven by a resurgence in dealmaking activities. The bank reported a net income of $6.7 billion, equating to 82 cents per share, a significant rise from $3.1 billion or 35 cents per share in the previous year.

Bank of America reported a significant increase in profits for the fourth quarter, attributed to a revival in dealmaking by its investment banking segment.

The financial giant, holding the position of the second-largest lender in the United States, recorded a net income of $6.7 billion, translating to 82 cents per share.

This marks a considerable jump from the $3.1 billion or 35 cents per share it reported during the same period last year.

(With inputs from agencies.)