Tuesday, February 27, 2024
HomenetnetWhy Goldman Sachs is worried about Bank of America

Why Goldman Sachs is worried about Bank of America

Most U.S. banks came out of the recent stress tests looking pretty good, with one notable exception: Bank of America.

The second-largest bank in terms of deposits passed the test but left some analysts wondering just how strong its cash position is at least compared to its competitors.

Goldman Sachs expressed its concerns over BofA in a note Friday:

With the exception of BAC, all of the banks in our coverage universe appear well positioned to receive approval for their capital asks, assuming their requests are in-line with our estimates. For BAC, we believe the company may have to resubmit its capital request, although the math suggests this is very close.

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