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Bank of America Fees Suffer: 35% Decrease for Q3

Bank of America has announced that investment banking fees in the third quarter are expected to decrease by approximately 30% to 35% compared to last year.

People walk by Bank of America in Chicago, United States, on October 14, 2022. Photo: Getty Images
People walk by Bank of America in Chicago, United States, on October 14, 2022. Photo: Getty Images

Despite this industry average expected downturn, the bank remains confident that its investment banking fees will not replicate this decline.

During the Barclays Financial Services Conference, Alastair Borthwick, the bank’s CFO, disclosed that Bank of America is expected to generate more revenue through investment banking fees compared to the forecasted dip.

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