September 10, 2012 / 5:23 PM / 5 years ago

BofA looking to grow loans after divestitures: CFO

(Reuters) - Bank of America Corp (BAC.N) is largely finished with major divestitures and is now looking to grow by adding new loans, Chief Financial Officer Bruce Thompson said Monday.

    The bank has had some success in increasing loans to mid-sized and large companies on an overall basis in the third quarter, Thompson said at an investor conference. “We are pressing hard there,” he said.

    The bank’s consumer lending business is at a point where it can start growing, when excluding $5 billion in discontinued loan products that are running off its books each quarter, Thompson said.

    Reporting By Rick Rothacker in Charlotte, North Carolina; Editing by Leslie Gevirtz

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