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"We're going to get a big bump in NII," Brian Moynihan said,
referring to net interest income, a closely watched measure of
how much money banks make from lending. "We'll grow revenue
faster."
Bank of America, the nation's second-biggest lender, stands to
benefit from rising interest rates because it can charge more
for customer loans. The Federal Reserve has delivered
back-to-back 75-basis-point rate hikes, and contracts in futures
markets tied to Fed expectations predict a third increase of
that magnitude.
(Reporting by Lananh Nguyen and Saeed Azhar; additional
reporting from Manya Saini; editing by Chris Reese)
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