Bloomberg Bank of America Corp.’s (BofA) profit slid 52% as it joined rivals in preparing for an onslaught of consumer defaults spurred by pandemic’s economic fallout. Profit at the consumer-banking unit plunged 98% as the coronavirus shuttered much of the US economy and caused tens of millions of Americans to lose their jobs. The company allocated $5.1 billion for loan ...

Bloomberg Bank Indonesia lowered its key interest rate for a second straight month to bolster economic growth, and signalled further easing will depend on inflation and how the recovery from the coronavirus pandemic unfolds. The central bank cut its seven-day reverse repurchase rate by 25 basis points to 4%, the lowest since the current rate system was adopted in 2016, ...

Bloomberg DNB ASA, Norway’s biggest bank, delivered second-quarter earnings that beat even the most optimistic estimates as impairments proved less dire than feared. The Oslo-based lender’s net income reached 4.77 billion kroner ($508 million) in the three months through June. Impairments fell 63% from the first quarter, DNB said. Thomas Eskildsen, an analyst at Handelsbanken, said trading and commission income ...