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Bank of America’s CFO says no sign of recession, credit deterioration
2022.06.13 17:31
FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri/File Photo
NEW YORK (Reuters) – Bank of America Corp (NYSE:BAC)’s Chief Financial Officer Alastair Borthwick said on Monday that there is no sign of recession in the bank’s loan portfolio, which remains on a healthy trajectory.
“There’s this question of what will happen in the future, and there’s what are we seeing right now. And what we’re seeing right now, credit is in great shape,” Borthwick said at a conference hosted by Morgan Stanley (NYSE:MS), when asked about asset quality. He added that sectors like travel and restaurants are still seeing credit quality improvements.
