“Strong capital markets results provided an important counterbalance to the COVID-19-related impacts on our Consumer business,” Chief Executive Officer Brian Moynihan said, calling the quarter “the most tumultuous period since the Great Depression”. Net interest income (NII), a key measure of how much banks can make from their lending activities, has, however, been pressured by the pandemic as the U.S. Federal Reserve slashed interest rates to near-zero levels. Bank of America’s NII fell 11% to $10.8 billion.
