BUZZ-Bank of America shares slide despite Q4 profit boost

U.S.-based Bank of America BAC.N saw its shares slip by 0.62% to $46.8 in premarket trading, despite reporting a jump in quarterly profits driven by a boom in trading activity

CEO Brian Moynihan highlighted every revenue source saw an increase, with growth in deposits and loans outpacing the industry, setting up a strong outlook for 2025

Bank's net income rose to $6.7 bln, up from $3.1 bln the previous year, beating analysts' expectations compiled by LSEG.

BofA stock gained 30.5% in 2024, underperforming rivals JPMorgan JPM.N, Wells Fargo WFC.N and Citigroup C.N as well as the KBW Bank Index .BKX

(Reporting by Vedant Vinayak Vichare in Bengaluru)

((vedant.vinayakvichare@thomsonreuters.com))