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Breakingviews: BofA grinds out good Q4

Wednesday, January 15, 2014 - 02:57

Jan. 15 - Chief executive Brian Moynihan is riding safely, thanks to a strong showing by Merrill Lynch, an improving loan book and low taxes.

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So Bank of America had a pretty darn good quarter it's not necessarily as brilliant as it might look but it is pretty that you can you say there on a roll. Yeah absolutely Utica -- even in the -- the coldest -- thus it. On pretax pre provision earnings of Corning's because it. That she bested by X. Wells Fargo JPMorgan at least on how much have done and producing -- going up as a big problem out of banking industry that all the banks to see this. Gradual drop off in business expenses and -- for the B of -- seemed real stable this quarter. It's actually beaten analysts' expectations on boats. And censorship and it's important -- them and says -- chief executive Brian Moran and has much to cheer about however when you instantly when you peel back a little bit easier very low tax at around 10% 10% which if you put down 630% and treatment -- -- -- right. Said he sent their tonic to get it drops compass that points treatments have -- so okay which it's below their cost cap political capital but it's. Don't get -- a couple of issues in the and they had it's 2.3 billion charge to put it that way fool them. Animal -- which is most -- is so. Could affect point three billion sounds relatively small it does -- these days -- -- what you know of the sort of quarterly run rate for JPMorgan -- to forget the -- that such a moguls or had a fed itself to ask as BofA. The question isn't known as how -- this will be with the government to be which it will pay. Thirteen million some rumors them or some of the extrapolation should I say listen for a seven billion. Right objective I went to console but so they have -- -- think they've got they got a lot of hustle to -- that no involvement in getting any loan loss provisions of the clawing back yet they -- they should double. A billion dollars and that was I was back into the business that I sent that also helped them but I think vote with them. -- Maryland's doing. Watch the old something that is to and burning pilgrim wealth management unit you're stressed to him in the US stock market -- -- -- -- you think that it's 46% -- pretax margins -- full -- -- about 25 -- in the -- just. So you compare that moment standing which is just -- and 20% now. And they're doing pretty well -- Brian looks pretty safe in his seat for now. That's ups and it's just -- there's always a Christian with B of a stock has doubled last year it's up it's up for now fifty separate policy it's its second I need some moments -- All right on its way ahead of its -- chip universal bank in your point is there honor roll but it cost us -- Now I'm not at Heathrow full percent of the -- which seems a panel Ryan if you think they did that now. -- -- -- -- And next we don't quite know what's happening to -- anymore -- -- -- -- Featuring just below it seems about right with -- movement -- -- behind is trading just by the rockets got it thank you -- and will be back with more bank earnings this week. With breaking news.

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Breakingviews: BofA grinds out good Q4

Wednesday, January 15, 2014 - 02:57