[ad_1]
Bank of America also reported a three-day slowdown in inflation on Wednesday as growth in debt continued to elude US second-largest lenders.
The bank from Charlotte has been struggling to raise interest rates since the Federal Reserve reduced interest rates to almost zero and financial and financial incentives have reduced lending interest.
Total debt in the second quarter fell by 12%, driven by a 30% reduction in its global corporate-owned businesses.
Revenues dropped by 4 percent from the same period last year to $ 21.5bn, less than the $ 21.8bn expected by experts, according to FactSet figures.
Profits were raised by $ 2.2bn in repaying the loans released, reflecting the economic downturn. This reduces costs as well as a 12% increase in usage.
Overall, a bank from Charlotte recorded $ 9.2bn, or $ 1.03 per share, compared to $ 3.5bn, or 37 cents per share at the same time last year. Researchers surveyed by FactSet expect a profit of 77 cents to share.
Shares in Bank of America fell more than 2% to $ 39.01 during the pre-trading period.
[ad_2]
Source link
