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Bank of America posts 47% drop in fee revenue as Wall Street deal slump spreads
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fnlondon.comBank of America's dealmakers followed Wall Street rivals with a sharp decline in investment banking fees during the second quarter, with revenue tumbling by 47% during the period.
While a surge in trading revenue helped offset the decline in dealmaking, the US bank still posted a 32% decline in overall profit to $6.2bn as it also increased provisions for bad loans.
Dealmakers...
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