Accounts are being liquidated. Bank of America earnings plunge 50%.
Bank of America just reported that their earnings collapsed by -56% YoY, a signal that the US economy and banking sector might not be as healthy as things appear.
Of particular concern was Bank of America reporting a big surge in loan losses - called "charge-offs". These charge-offs surged by over 70% YoY and are now higher than pre-pandemic levels. Especially for credit cards, where the charge-off rates spiked as cash-strapped borrowers struggle to pay their credit card bills.
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.
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Additional stock footage provided by Envato Elements. https://elements.envato.com/
Видео Accounts are being liquidated. Bank of America earnings plunge 50%. канала Reventure Consulting
Of particular concern was Bank of America reporting a big surge in loan losses - called "charge-offs". These charge-offs surged by over 70% YoY and are now higher than pre-pandemic levels. Especially for credit cards, where the charge-off rates spiked as cash-strapped borrowers struggle to pay their credit card bills.
---
REVENTURE APP: https://www.reventure.app
Access Exclusive Data and Videos as a Channel Member: https://www.youtube.com/channel/UCVTQunGrE3p7Oq8Owao5y_Q/join
DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.
Image(s) and/or Footage used under license from Shutterstock.com. https://www.shutterstock.com/
Additional stock footage provided by Envato Elements. https://elements.envato.com/
Видео Accounts are being liquidated. Bank of America earnings plunge 50%. канала Reventure Consulting
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