The US bank posted revenues of US$22.3 billion in the fourth quarter of 2019 in a ‘steadily’ growing economy marked by ‘solid’ client activity, according to chairman and CEO Brian Moynihan (pictured).

Bank of America reported quarterly earnings of US$7 billion, or US$0.74 per diluted share, compared to US$7.3 billion, or US0.70 in the prior year quarter. Net income in the global markets business unit, at US$574m, increased by 13% compared to the 4Q2018 while revenues, at US$3.4 billion, increased six percent, driven by sales and trading. Sales and trading revenues stood at US$2.8 billion, including net debit valuation adjustments (DVA) losses of US$86m. Excluding net DVA, sales and trading

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