NEW YORK - Bank of America's (NYSE: BAC) CEO forecasts that the largest bank in the united States could begin to earn 35-40 billion dollars of before-tax income each year, once the bank has made its recovery from the financial crisis. CEO Brian Moynihan stated in an investor conference that the bank was finished acquiring other companies as it had in the past. He stated that once the distracting process of integrating these acquisitions into the firm was over, BAC could start paying 30% of its earnings in dividends.This came as good news to investors. Bank of America was up over 4% in late afternoon trading.
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