May 29, 2018 / 2:25 PM / 5 months ago

Bank of America exec sees mixed signals on business loan demand

NEW YORK, May 29 (Reuters) - Bank of America Corp’s head of global corporate banking said the pipeline of new loans is better than it was in sluggish 2017, but that it is too soon to predict lending demand for the year.

Alastair Borthwick, speaking on Tuesday at an investor conference, said the outlook for loan demand is clouded by the fact that companies have extra income because of lower U.S. tax rates. However, he described companies as “more optimistic about the economy,” which he said tends to bode well for loan growth. (Reporting by David Henry in New York; Editing by Meredith Mazzilli)

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