New york – Bank regarding The usa posted a good 12% decline in very first-one-fourth profits regarding a-year earlier, a drop which had been much less as compared to of these its opponents got reported the last month. The country’s 2nd-prominent lender was aided because of the higher net appeal money and extremely modest contact with Russian property.

The lending company did not have to set away far fund so it quarter to pay for possible losses as well, in contrast to JPMorgan Chase and you can Citigroup, who had to set away currency to afford threat of an economic downturn and their exposures so you’re able to Russia

The new Charlotte, New york-depending bank told you it earned income regarding $7.step 1 mil, otherwise 80 cents a portion, compared with a return away from $8.05 mil, otherwise 86 cents a percentage, in the same months annually prior to. The outcomes were a lot better than what experts got determined, according to FactSet.

If you are BofA’s earnings fell such as the almost every other large five Wall Street lender s this quarter, their abilities had been helped of the a number of situations that aided brand new bank do better than simply the competitors.

BofA’s individual financial division, new bank’s prominent company from the cash and you may winnings, together with aided increase results. (mais…)