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Bank of America profit rises 7.3%

Tuesday, October 18, 2016 - 05:50
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Revenue from fixed-income trading was better than predicted. CEO Moynihan has also been cutting costs while contending with persistently low interest rates.

New York

Bank of America Corp, the second-biggest US lender by assets, said third-quarter profit rose 7.3 per cent, beating analysts' estimates, as revenue from fixed-income trading was better than predicted and expenses fell.

Net income climbed to US$4.96 billion, or 41 cents a

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