Profits at Bank of America’s Irish arm surge

Profits at the European subsidiary of Bank of America, the US investment bank, more than doubled last year to more than $1.8 billion on the back of surging interest rates and continued strong lending activity.

Newly filed accounts for Bank of America Europe, which is headquartered in Dublin and employs more than 1,200 people here, show the investment bank made an operating profit of $1.84 billion in 2023, which is a considerable jump on the ...