Two colossal banking-firms viz. Bank of America Corp. and Citigroup Inc. have shown signs of healing but will take some extra time to get back to their original vigor amid recession-mired economy.

Citigroup recorded earnings of $4.3 billion for the second quarter, while Bank of America recorded earnings of $3.2 billion on asset sales worth $9.1 billion.

Joe Price, Bank of America CFO said, "There are good tentative signs, but the consumer is still weak."

Earlier this week, J. P. Morgan Chase & Co. and Goldman Sachs Group Inc. beat Wall Street expectations, posting better-than-expected results.

Both, Bank of America and Citigroup posted considerable losses from large commercial lending.

In the second quarter, Bank of America scored 23 percent losses from its nonperforming commercial loans, almost three times higher than losses in the first quarter.

A number of firms are going to post their earnings in the coming week.

Stuart Plesser, an analyst at Standard & Poor's, is of the opinion that regional banks are also likely to be severely hit by the Commercial loans.

Citigroup CFO, John Gerspach said that the company is foreseeing signs of declining credit losses in the second half of 2009.

However, the 9.5 percent joblessness rate in the U. S. has been threatening future loan predictions.

But, Lawrence H. Summers, President Obama's top economic advisor argued that the U. S. banking sector and economy have been recovering.