BoFA CEO says economic recovery progressing well.
Global Banking News - 29 April 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
The CEO of Bank of America Corp (NYSE: BAC), Brian Moynihan, has said that economic recovery is fully underway.
Citing the bank's contribution of USD150bn in credit in the first quarter of 2010, Moynihan said he is convinced that the economic recovery is fully underway. The bank earlier claimed that the credit issue was the biggest by any bank in the US in the first quarter.
The CEO said, 'Now more than ever, I am confident that our economic recovery is fully underway. Bank of America contributed to this recovery in the first quarter by extending almost USD150bn in credit across both the consumer and commercial sectors, driving economic activity in the U.S. significantly.'
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