Bank of America reported a decline in second-quarter profits due to lower interest income on loans and increased provisions for credit losses. However, a positive forecast for net interest income boosted the bank's shares. Rising interest rates are increasing the cost of deposits, impacting banks' profits. Despite the challenges, CEO Brian Moynihan highlighted the strength of the consumer banking business and profitability in other sectors. The bank earned $6.9 billion in the quarter, slightly down from the previous year. Investment banking fees surged, driven by increased underwriting and advisory activities. Wealth and investment management also saw growth. BofA's shares climbed, outperforming competitors like JPMorgan Chase and Wells Fargo. The bank's positive outlook for net interest income indicates potential growth in the future.