(Finance) – Bank of America recorded quarterly profit fall of 48.5% with $3.6 billion set aside by the bank for potential loan losses linked to the coronavirus pandemic.
Net income which applies to common shareholders rose to $3.54 billion (40 cents per share) in the first quarter which ended on March 31, from $6.87 billion (70 cents per share), a year earlier.
Analysts expected a profit of 44 cents per share.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
