Bank of America CEO Brian Moynihan announced that the bank's investment banking revenue is expected to rise by at least 25% year-over-year this quarter, with sales and trading likely to hit new records. Moynihan revealed at a financial services conference that fourth-quarter investment banking revenue could surpass $1.4 billion, slightly below analysts' $1.5 billion forecast, marking a 27% growth. Sales and trading are projected to see mid-to-high single-digit growth, with market income anticipated to increase by 8.2% to $4.06 billion.
Additionally, the bank expects net interest income to continue its upward trend, aiming for the $14.3 billion target set earlier this year. Moynihan expressed confidence in seeing sequential growth each quarter next year.
