U.S. banking giants boosted their profits in the fourth quarter, buoyed by increasing demand from borrowers that could bode well for lenders’ future earnings.

Bank of America’s average loans grew 8% from a year earlier, and its net interest income – or the difference between what it earns from loans and pays out in deposits – surged to a record $15.9 billion, it reported on Wednesday. At rival JPMorgan Chase, averaged loans climbed 9%. Loan growth is closely viewed by investors as a positive indicator for banks’ businesses.

 

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