Current location:opinions >>
Bank of America's Q1 profits fall 18% on higher expenses, charge
opinions45733People have gathered around
IntroductionNEW YORK (AP) — Bank of America said its first-quarter profits fell 18%, as the bank dealt with risi ...
NEW YORK (AP) — Bank of America said its first-quarter profits fell 18%, as the bank dealt with rising expenses due to the impact of higher interest rates. But the results beat analysts’ estimates.
The Charlotte, North Carolina-based bank posted a profit of $6.67 billion, or 76 cents per share, compared with $8.2 billion, or 94 cents a share, in the same period a year earlier. BofA had to make a one-time $700 million payment to the Federal Deposit Insurance Corp. to help the agency replenish the deposit insurance fund.
Excluding that one-time charge, the bank earned 83 cents per share.
Bank of America has been dealing with the effects of higher interest rates on its loan and investment portfolio for the past year. The bank bought a sizable number of bonds during the pandemic when rates were low, and those bonds have lost value as interest rates have risen.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“International Iterations news portal”。http://www.videocameralive.com/html-54f399601.html
Related articles
Conservative states challenge federal rule on treatment of transgender students
opinionsAt least five Republican state attorneys general are challenging a federal regulation that seeks to ...
【opinions】
Read moreEintracht Frankfurt uses option to buy PSG striker Hugo Ekitiké following loan move
opinionsFRANKFURT, Germany (AP) — Eintracht Frankfurt is activating an option to buy striker Hugo Ekitiké, w ...
【opinions】
Read moreAP Week in Pictures: Europe and Africa
opinionsApril 19-25, 2024French police evict migrants from a makeshift camp in Paris ahead of the Olympics, ...
【opinions】
Read more
Popular articles
- Map reveals where headless torso and further human remains have been found by locals in Salford
- Music Review: St. Vincent's art
- Chelsea receive welcome boost as Cole Palmer trains with his team
- What to expect in New York's special congressional election
- Arizona rancher accused of fatal shooting will not be retried, prosecutors say
- AP Week in Pictures: Europe and Africa
Latest articles
Bruins, Hurricanes, Canucks and Avalanche look to advance to second round of the NHL playoffs
Kenya Airways accuses Congo military of holding its staff since last week over cargo issues
Jensen Ackles to play Justin Hartley's brother in CBS series Tracker
Mining giant BHP Billiton makes $39 billion bid for Anglo American to expand copper operations
Chinese ballet to illuminate Dutch stadium
Reese Witherspoon, 48, beams beside mini
LINKS
- GLOBALink
- Art Reshapes Rural Scene in SW China Village
- Children Visit Beijing Auto Museum During Winter Vacation
- Economic Keywords at 2024 'Two Sessions'
- Chinese Tourists Flock to Savor Trendy Immersive Experiences
- China to Further Enhance Medical Treatment for Critical Pregnant Women
- Rural Tourism Sees Robust Growth
- Temporary Teaching Sites Start Classes in Jishishan
- Laba Festival Gathering for Migrant Children in Xi'an
- Strawberries Sweeten Life for Villagers in E China's Anhui