With steady growth in the economy, lower provisions, improving asset quality, and an increase in customer base, things are finally looking up for Bank of America (BAC). Further, the banking major recently renewed its $25 billion share buyback program, indicating that it is earning more money. The move follows Bank of America’s $10 billion worth of share buybacks in Q3.   In response to its $10 billion share buyback, Bank of America’s CEO, Brian Moynihan, stated that its third quarter’s “level of profits” and “excess capital” have helped boost shareholders’ returns through higher dividends and share repurchases. Interestingly, Bank of America delivered a net income of $7.7 billion in Q3.
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Bank of America (NYSE:BAC)
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