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BofA News

09 Jan 2019

BofA sees double-digit Correction in indices in first half

It didn't offer a Sensex target though.

Finance Minitry

06 Jan 2017

Finance Minister to target fiscal deficit of 3.5% of GDP in FY18: BofA-ML

The ensuing budget is likely to fix a fiscal deficit target of 3.5 percent of GDP in 2017-18, relaxing the 3 percent target earlier in order to support growth, says a report.

10 Aug 2016

HSBC, BofA apply blockchain to trade finance, seek more partners

HSBC and Bank of America Merrill Lynch said on Wednesday they had created the world`s first application using blockchain technology to simplify one of the most cumbersome aspects of trade finance.

28 Mar 2016

Inflation seen at 5% in March; RBI to cut rates by 25%: BofA

India's retail inflation for March is expected to be around 5 per cent and the Reserve Bank is likely to cut its key rate by 25 basis points each at its policy reviews on April 5 as well as in August, says a report

22 Mar 2016

RBI to cut rates by 0.25% on April 5, 0.50% in FY17: BofA-ML

Reserve Bank is likely to go for a 50 basis points rate cut next fiscal year and out of this 25 bps cut may be affected in the policy review meet next month amid slackening economic recovery, says a report.

20 Oct 2015

TRAI call drop norms to hurt telcos earnings by 5%: BofA-ML

Terming the telecom watchdog's policy to compensate users for call drops difficult to implement, Bank of America Merill Lynch today said it expects a hit of up to 5 percent in the pre-tax profits for listed majors Bharti and Idea Cellular.

04 Oct 2015

RBI likely to go for final 0.25% rate cut in Feb: BofA-ML

According to the global financial services firm, inflation is likely to meet RBI's under 6 per cent January 2016 mandate following which the central bank is likely to go for a final 25 bps rate cut in February.

Bank of America

22 Sep 2015

Bank of America vote allows Moynihan to stay chairman

Bank of America chief executive Brian Moynihan will keep his chairman post after a majority of shareholders backed the appointment Tuesday, outvoting critics who wanted to split the posts.

03 Jul 2015

Grexit may stall FPI inflows into India: BofA

"Our Europe economists think this will make Grexit that much more difficult to avoid. Although India's exposure to Greece is negligible, in our view, contagion, if any, could travel through markets.

Securities and Exchange Commission

28 Apr 2015

SEC probes Bank of America over customer funds: Source

The Securities and Exchange Commission is investigating Bank of America to see whether it broke rules by speculating with its customers` funds, a person close to the matter said Tuesday.

Bank of America

27 Apr 2015

BofA raises oil price forecasts for 2016

Bank of America Merrill Lynch has revised upward its oil price forecasts for 2016, but said it remained bearish amid oversupply, weak demand from emerging markets, a return of US shale production and expectations of a deal on Iran.

Bank of America

15 Apr 2015

Bank of America profit beats expectations as legal expenses fall

Bank of America Corp, the No. 2 U.S. bank by assets, posted a first-quarter profit, narrowly beating analysts` estimates, as legal costs fell steeply and the bank earned more from mortgage lending and investment and brokerage services.

Bank of America

15 Jan 2015

Bank of America earnings fall despite lower expenses

BofA`s earnings for the fourth quarter came in at $3.1 billion, down 11.3 percent from the year-ago level.

03 Dec 2014

BofA chief meets PM Modi; promises to expand operations in India

The bank, a release said, will "expand its banking activities in India, and would expand its presence in capital markets, particularly in infrastructure and energy sector investment".

19 Nov 2014

India headed for capex revival, $360 bn in orders - BofA

Bank of America Merrill Lynch expects capex revival for India.

29 Oct 2014

Unearthing black money can add $30 bn to FX reserves: BofA

The unearthing of capital flight of "black" money Indians have allegedly stashed away in Swiss banks could add USD 30 billion to the country's forex reserves, says a Bank of America Merrill Lynch report.

Bank of America

15 Oct 2014

Bank of America moves past worst legal costs, posts loss

Since 2010, the second-largest U.S. bank has agreed to pay at least $70 billion to resolve disputes linked to home loans, mortgage bonds and other problems stemming from before and during the crisis.

Bank of America

21 Aug 2014

Bank of America agrees to record $17 bn deal over mortgage fraud

Bank of America agreed Thursday to a record nearly USD 17 billion deal with US justice authorities to settle accusations over dodgy mortgage securities it issued ahead of the 2008 financial crisis.

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