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BOA Q2 profit more than doubles to US$5.3b

Results helped by steep drop in litigation costs
Friday, July 17, 2015 - 05:50
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BIG WILD CARD: The rise in long-term rates in the quarter allowed the bank to adjust how it amortised certain residential mortgage-backed securities.

New York

BANK of America, seeking to get on with the business of banking after legal and mortgage troubles, said on Wednesday that its second-quarter profit more than doubled from a year ago, easily surpassing analysts' expectations.

Still, analysts cautioned that while the

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