
Goldman Sachs CEO stated that the company will continue to grow its dividend and noted that the US economy is in reasonable shape. He also mentioned that investment banking activity has improved, with strategic activity being meaningfully better. Additionally, equity capital markets activity is up, although the IPO market is below expectations. The CEO highlighted that the firm is running a larger capital buffer than usual. Meanwhile, Bank of America CEO Brian Moynihan reported that credit quality is fine and loan balances for small businesses are stable. He also noted that middle market investment banking is growing at a double-digit pace and that the bank can continue its stock buyback program. Moynihan mentioned that if their capital increases by 10%, it could prevent them from making $160 billion in loans. He also acknowledged Warren Buffett's role in stabilizing the company. Bank of America sees investment banking revenue of nearly $1.2B in Q3 and expects Q3 trading revenue to be up in the low single-digit percentage range compared to last year.
$BAC Bank of America's CEO has recently affirmed the bank's commitment to continuing its stock buyback program https://t.co/qU34a5z3Gr
BANK OF AMERICA CEO SAYS “WE CAN’T ASK, WE WOULDN’T ASK” WHEN QUESTIONED IF HE HAS ASKED BUFFETT WHY HE IS SELLING BANK’S SHARES $BAC
⚠ BANK OF AMERICA CEO SAYS CAN CONTINUE STOCK BUYBACKS **BANK OF AMERICA CEO SAYS IF OUR CAPITAL GOES UP BY 10%, IT STOPS US FROM MAKING $160 BILLION LOANS WE COULD OTHERWISE MAKE **BANK OF AMERICA CEO SAYS WARREN BUFFETT HAS BEEN A GREAT INVESTOR, STABILIZED OUR COMPANY…