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Buoyant consumer banking propels Bank of America profits

Digital asset research launches at Bank of America
In the fourth quarter Bank of America’s net income increased slightly to $7.1bn from $7.0bn in the same period last year

Buoyant consumer banking activity drove Bank of America’s profits up sharply in the third quarter.

The US bank’s profits swelled nearly $3bn over the last year, climbing to around $7.7bn in the last three months.

More to follow.