Bank of America investment bankers are likely to get bonuses that are close to 2007 levels as the giant bank tries to stem more defections following its takeover of Merrill Lynch, according to people familiar with the situation.

The expected payouts reflect Merrill's recovery since the securities firm's net loss of $27.6bn (€19.2bn) in 2008, forcing a rescue by the US Government. Through the first three quarters of last year, Merrill churned out profit of $2.2bn, or about one-third of Bank of America's overall earnings of $6.5bn.