Bank of America: beats consensus in Q4.

(CercleFinance.com) - Bank of America has announced Q4 2016 net income that is up 43% at 4.
7 billion dollars, meaning EPS of 0.40 dollar, i.e. two cents above the consensus.
Amongst other things, this increase reflects a 2% increase in revenues to 20 billion dollars, driven by a 6% increase in net interest income, related to higher interest rates and increased loans and deposits.

In terms of expenses, credit loss provisions for Charlotte Group (North Carolina) declined slightly to 774 million dollars, while non-interest expenses were reduced by 6% to 13.2 billion dollars.

Confident in its "leading positions in its activities in the face of an environment of rising interest rates", Bank of America has decided to step up its share buyback program in H1 2017, raising it from 2.5 billion dollars to 4.3 billion dollars.

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