1133 ET - Bank of America stuck to a familiar formula when calculating its loan loss reserves. The bank's provision for credit losses of $1.5 billion in 1Q25 was flat with provisions from 4Q24. Executives on an earnings call said as they have in prior quarters, they came to their figure using a model involving blue chip economic indicators which they feel is more independent. Using those indicators as a baseline, they also planned for four scenarios - three of which were downside scenarios. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
April 15, 2025 11:33 ET (15:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.