BofA increased net profit by one third in the second quarter

In the second quarter, Bank of America increased its net profit by 33.3% in annual terms to 6 billion 800 million dollars. In earnings per share, profit was 63 cents, while experts had expected the figure at 57 cents. Revenues of the bank amounted to 22 billion 600 million dollars, decreasing by 1%. Analysts had expected revenue at the level of 22 billion 300 million dollars. Net interest income increased by 6%. Income from trading operations with shares increased by 17%, from operations with securities with fixed income decreased by 2%. The revenue of the division working with private clients increased by 8%, the business of state management and investment - by 1%. At the same time, the revenue of global banking business decreased by 2% with profit growth of 16%. The bank recorded an increase in the volume of deposits on the balance sheet by 3%, in the volume of the loan portfolio - by 5%.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong
Message: