Bank of America Corp. doesn’t expect Donald Trump’s election to jolt the U.S. economy next year, but its corporate customers are enthusiastic and already seeking funds to expand, according to Chief Executive Officer Brian Moynihan.

Mid-sized companies “are friskier, they’re more active,” Moynihan, 57, said in an interview with Bloomberg Television’s David Westin for broadcast Thursday. Recently, some have been drawing down credit lines to invest in operations, he said. “They feel better about the prospects of the regulatory environment and their businesses. They feel better about the possibility of final demand.”

Moynihan, who runs the second-largest U.S. lender, said it may take a while for Trump’s initiatives as president to play out in the economy, which already was benefiting from rising consumer spending. The bank has forecast about 2 percent growth next year, he said -- up from the 1.6 percent that economists estimate for 2016.

Eoin Treacy's view

Friskier clients must be a welcome development for banks because it will be easier to sell them new products. It’s been a long time since it a banking CEO has been able to say that. Additionally the banking sector could be one of the greatest beneficiaries of deregulation, lower taxes and fiscal stimulus. 

Bank of America and Citigroup were at the epicentre of risk when the subprime crisis erupted. They were among the strongest candidates to experience the lengthy Type-3 base formations we expect following a crash and true to form Bank of America traded below $20 for 8 years. It has now broken out. 

Citigroup moved to a new closing high this week and may now be in the process of completing its base.