Bank of America: beats consensus in Q4

(CercleFinance.com) - Bank of America has reported Q4 2017 net profit of 2.
4 billion dollars, or 20 cents per share.

However, excluding the US tax reform EPS reached 47 cents, three cents higher than the consensus.

The bank's revenues increased 2% to 20.4 billion dollars, with net interest income up 11% due to higher interest rates and growth in loans and deposits.

The banking group from Charlotte, North Carolina recorded higher credit loss provisions of 1 billion dollars, up from 774 million dollars a year earlier, although non-interest expenses fell by 1% to 13.3 billion dollars.


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