 "Bank of America")
Bank of America Corp reported a smaller-than-expected 13% fall in first-quarter profit on Monday, as strong growth in its consumer lending business helped cushion the blow from a slowdown in global deal-making.
The bank reported a 9% rise in consumer banking revenue to $8.8 billion in the quarter ended March.
"First-quarter results were strong despite challenging markets and volatility," Chief Financial Officer Alastair Borthwick said in a statement.
"Net interest income increased by $1.4 billion versus the year-ago quarter supported by strong loan and deposit growth.
Going forward, and with the forward curve expectation of rising interest rates, we anticipate realizing more of the
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