Bank of America: Q4 net income down 21%

(CercleFinance.com) - Bank of America has reported net income that is down 21% at 5.
5 billion dollars for Q4 2020, or 59 cents per share, which is actually above the consensus.

Revenues net of interest costs declined 10% to 20.1 billion dollars, with net interest income down 16% due to lower interest rates, although credit loss provisions fell to 53 million dollars, due to !reserve releases.

The financial institution based in Charlotte, North Carolina, also boasts a 76 basis point improvement in its CET1 solvency ratio to 11.9% and a tangible NAV per share that is up 6% to 20.60 dollars.


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