Friday, July 16, 2010

Bank of America, Citi Fall as Loan Books, Interest Shrink

from Bloomberg
by David Mildenberg and Bradley Keoun

Bank of America Corp. and Citigroup Inc. fell in New York trading after profit reports showed their loan books shrinking, a sign volatile markets and a stalling U.S. economy may be keeping borrowers away.

Bank of America, based in Charlotte, North Carolina, declined 8.3 percent, the most in more than a year, in New York Stock Exchange composite trading at 11:33 a.m. New York-based Citigroup fell 3.7 percent.

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