BoA revenues dwarf merger partner’s
The bank’s annual report reveals Bank of America made $549 million from trading-related revenue for foreign exchange last year -- dwarfing Fleet’s 2003 FX revenue of $71 million.
"The growth in our overall trading reflects the strength of our debt sales and trading platform, which capitalised on the tightening of credit spreads and stronger distribution capabilities in the investor market," said BoA in the report.
Together, the two banks’ combined revenues of $620 million place it eighth on FX
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