Bank of America quarterly profit falls 4%
[NEW YORK] Bank of America Corp posted a 4.1 per cent fall in quarterly profit on Wednesday, as lower interest rates crimped the second-biggest US lender's ability to earn more from loans.
Net income applicable to common shareholders fell to US$6.75 billion, or 74 cents per share, in the fourth quarter ended Dec 31 from $US7.04 billion, or 70 cents per share, a year earlier.
Revenue, net of interest expense, fell slightly to US$22.35 billion.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover