Page 6 - Bank Of America

India Inc raises a record green capital of $19 billion in 2021

India Inc has raised a record USD 19 billion in green capital in 2021, led by Wall Street major Bank of America, which is only a fraction of the USD 1 trillion that global corporations raised in green financing in the year. While corporate India raised USD 19 billion in green capital in 2021, Bank of America participated in USD 15.65 billion. Globally, the Wall Street major was part of a fourth of the USD 1-trillion green funding drive, helping mop up USD 250 billion, the bank said. In the country, it was part of the eight deals/issuers worth USD 15.65 billion, which included loans, M&As, debt capital and equity capital market funding, it added. It can be noted that BofA had in April 2021 set a target of helping mobilise USD 1.5 trillion in sustainable financing by 2030 and also announced its exit from funding carbon-based companies. Comparative numbers are not available as the lender has not been categorising fund-raise differently. The biggest domestic issuer was the USD ...

With Citi deal, life has come full circle for Axis Bank's Amitabh Chaudhry

In all likelihood, he would have worn a broad grin; and asked them to get behind their desks. A confirmed workaholic, Axis Bank's boss is not known to suffer fools gladly

Ukraine war lifts default risk for world's fragile economies

Worries over whether Russia would deliver on its interest payments this month are leading investors to consider who else is at risk of failing to pay

Ukraine crisis: Fund managers now see equity bear market in 2008-like gloom

This is the takeaway of the latest Bank of America Corporation monthly global fund manager survey conducted in the week through March 10

BofA revises Nifty target from 19,100 to 17,000 citing rate hike risks

Note says market valuation shrinks if it is above long-term averages before the start of the hike cycle

Goldman Sachs predicts Fed will raise rates five times this year

Bank of America Corp. now predicts seven rate hikes in 2022 and BNP Paribas SA forecasts six, while JPMorgan Chase & Co. and Deutsche Bank AG see five

Nifty to hover around 19,100 by December 2022, says Bank of America

India is expected to incur a capital expenditure of $395 billion towards de-carbonisation from 2020-2030

BofA expects 8.2% GDP growth for India in FY23 with more downside risks

The biggest risk to the projection is a derailed consumption demand that has been the main growth driver in the past many years, said the Bank of America Securities India house economists

India's GDP to grow 8.2% in FY23, RBI to hike rates by 100 bps: BofA

The low vaccination rates and the emergence of the Omicron variant were flagged as factors by the brokerage that are creating 'considerable uncertainty' for India's growth

BofA fund manager survey least bullish since Oct 2020, cash at 12-mth high

Finds investors are increasingly worried about global growth expectations, stagflation and China

US banks beat profit estimates on economic rebound, deals bonanza

JPMorgan Chase & Co, Citigroup, Wells Fargo & Co and Bank of America Corp reported a combined profit of $28.7 billion for the third quarter, beating analyst estimates

Bank of America-backed ACRE buys 32% stake in Jayaswal Neco Industries

The ARC is backed by other global distressed funds and investors like Davidson Kem­pner Capital Manageme­nt, Oaktree Capital and Ares SSG

Investors turn bearish on global economy though positioning upbeat: BofA

Rare disconnect between asset prices, fundamentals; liquidity conditions viewed as best since before 2008 crisis

Bank of America taps new CFO, promotes three women to top roles

Alastair Borthwick, president of global commercial banking, will replace CFO Paul Donofrio next quarter, the company said Friday in an internal memo.

The cost of saving global economy: $834 million an hour for 18 months

"Stimulus has caused immense inflation of Wall Street assets," wrote strategists led by Michael Hartnett

The cost of saving global economy: $834 million an hour for 18 months

"Stimulus has caused immense inflation of Wall Street assets," wrote strategists led by Michael Hartnett

Bank of America 2Q profit more than doubles to $9.22 bn, tops forecast

Bank of America 2Q profit more than doubles, tops forecast Bank of America Corp. said Wednesday that second-quarter net income more than doubled to USD9.22 billion from USD3.53 billion a year ago. The Charlotte, North Carolina-based bank said it had earnings of USD1.03 per share for the quarter ended June 30, up from 37 cents in the year-ago quarter. The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share. The nation's second-largest bank posted revenue of USD22.62 billion in the period. Its revenue net of interest expense was USD21.47 billion, missing Street forecasts. Four analysts surveyed by Zacks expected USD21.77 billion. Year-ago revenue was USD22.33 billion. Bank of America shares have increased 32per cent since the beginning of the year, while the S&P 500 index has risen 16per cent. The stock has climbed 65per cent in the last 12 months.

BankAm's i-bankers continue to pull off deals for India Inc amid Covid-19

BankAm topped Dealogic's league tables for equities at $2.8 billion in deals (followed by ICICI Securities at $2.4 billion and JP Morgan, or JPM, at $2.4 billion) for FY21

Wall Street banks hike shareholder payouts after Fed gives the green light

Morgan Stanley, JPMorgan, Bank of America, Goldman Sachs and Wells Fargo said they were hiking their capital payouts after the US Federal Reserve gave them a clean bill of health

Bank of America profit more than doubles on reserve release boost

The second-largest U.S. bank by assets unlocked $2.7 billion from its reserves