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Bank of America up after exec touts better-than-expected deposit trend

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** Shares of Bank of America BAC.N climb 1.7% to $34.18

** At a conference, BAC's president of preferred banking, Aron Levine, says deposit trends were better than expected so far compared to pre-pandemic levels

** Deposits, a crucial source of funding for lenders, have been under the scanner in the last several months as banks struggle to keep customers from fleeing to other high-yielding alternatives

** On average, BAC clients had 24% more in their checking accounts and 16% more in their savings accounts than in 2019, Levine said

** YTD, BAC stock has dipped 0.2% as of their last close

Reporting by Niket Nishant in Bengaluru


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