The bank reported one of its highest quarters of sales and trading with US structured product volumes reaching record levels in Q1.

Bank of America has reported a net income of US$8.2 billion for the first quarter of 2023 – an increase of 15% year-on-year (YoY). Revenues increased 13% to US$26.3 billion. The global markets business had one of the highest quarters of sales and trading, growing YoY earnings to nearly US$1.7 billion after tax. The sales and trading revenue (ex-debit valuation adjustments – DVA) improved by nine percent YoY to US$5.1 billion, fixed income, currencies, and commodities (FICC) improve

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