Bank of America beats, but analysts want to know when real growth is coming

Bank of America Corp. on Monday reported first-quarter earnings that beat analyst expectations, yet didn’t impress many analysts.

The second-largest U.S. bank by assets BAC, -0.45% said it continued to trim expenses, pushing a key efficiency ratio to 60%, the lowest in five years. And the bank’s profit surged to $6.92 billion, compared to $5.34 billion a year ago, helped in part by lower taxes: $1.48 billion versus $1.98 billion a year ago.

But on a call with analysts, bank management fielded several questions about when real growth, not just accounting strategies, would help boost profits.

Read: Tax cuts were supposed to juice the economy, but banks aren’t seeing it

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