Bank of America bullish after profit beat

Better prospects: A Bank of America branch at the Manhattan borough of New York City. The bank posted a 12% decline in first-quarter profit from a year earlier, a decline that was much less than the ones its rivals had reported the previous week. — Reuters

WASHINGTON: Bank of America Corp provided a bullish outlook after reporting a smaller-than expected 13% fall in first-quarter profit on Monday, as growth in consumer lending overshadowed a decline in global dealmaking.

Chief executive Brian Moynihan said Bank of America customers had spent at the highest level ever recorded for the first quarter, representing a double-digit percentage increase from a year ago.