2 Bank Stocks That Could Be Huge Winners for Patient Investors

The 2022 market downturn has affected nearly all sectors of the stock market, and bank stocks certainly haven't been an exception. Recession fears have led to investor concerns that loan demand could fall and defaults could tick upward.

While these are certainly legitimate concerns, there are also some very attractive opportunities in the banking industry right now. Two in particular that look interesting are Bank of America (NYSE: BAC) and Ally Financial (NYSE: ALLY), both of which are trading at cheap valuations and could grow their profits significantly over the next few years.

The largest bank in the United States by deposits, Bank of America is a massive institution. It has $3.24 trillion in total assets, $2.07 trillion in deposits, and $978 billion in loans. Recent growth has been impressive, with the loan portfolio increasing 10% year over year in the first quarter and deposits up by 13% over the same period.

Source Fool.com