Bank of America CEO says had best quarter, 1H of earnings in company's history
Chairman and CEO Brian Moynihan said: "Our commitment to responsible growth resulted in the best quarter and first-half year of earnings in our company's history. In the second quarter, we generated $7.3 billion in earnings and delivered $7.9 billion back to shareholders. Our return on assets was over 120basis points and our return on equity was well above the firm's cost of capital. Our view of the economy reflects the activity by the one-in-two American households we serve, which points to a steadily growing economy. We see solid consumer activity across the board, with spending by Bank of America consumers up five percent this quarter over the second quarter of last year."