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Bank of America CEO says credit quality strong; no impact from Omicron variant - Metro US

Bank of America CEO says credit quality strong; no impact from Omicron variant

Brian T. Moynihan, chairman & CEO of Bank of America, testifies before a House Financial Services Committee hearing on Capitol Hill in Washington

NEW YORK (Reuters) – Bank of America Chief Executive Brian Moynihan said on Tuesday that the bank hadn’t seen any impact on consumer spending from the spread of the Omicron variant of the coronavirus, and credit quality among borrowers remained strong.

“We haven’t seen any impact in December at all from the virus,” he said in an interview with CNBC. “Credit quality is very strong, especially on the consumer side, and, given what we see, it should stay strong.”

(Reporting by Matt Scuffham; Editing by Sonya Hepinstall)

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