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Bank of America quarterly profit falls 4%

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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.

[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

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