The laggards of American banking are at last producing unambiguously good results. The challenge for the banks now is to prove they can deliver healthy profits in less than ideal conditions. Bank of America said Monday its first quarter net income rose 30% from a year earlier to a record $6.9 billion. More importantly, its quarterly return on equity hit 10.8%, above the key psychological threshold of 10%. This comes on the heels of Citigroup reporting a decent 9.7% return on equity on Friday.

Source: Wall Street Journal April 16, 2018 14:37 UTC