Sunday, March 2, 2014

Bank of America set for growth, CEO says during Chandler stop

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As the economy perks up and the housing market recovers, executives at the nation’s biggest banks are spending more time looking through the windshield rather than glancing backward in the mirror.

Problems from the financial crisis, recession and mortgage meltdown are beginning to recede in the distance, and bankers are paying more attention to growth opportunities on the horizon ahead.

The costs and risks tied to bad loans are “winding down,” said Brian Moynihan, the 54-year-old chief executive officer at Bank of America, during a recent stop in the Valley, where he visited local facilities. “What dominates the company over the next couple of years is the core business.”

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