Bank of America: Q3 results above expectations
(CercleFinance.com) - Bank of America has reported Q3 2018 net income that is up 32% at 7.
2 billion dollars.
EPS rose 43% to 66 cents, four cents above the consensus.
Net banking income rose by 4% to 22.8 billion dollars, with a 6% increase in net interest income, thanks to higher interest rates and growth in loans and deposits.
The bank's results also benefited from a 118 million dollar reduction in credit loss provisions to 716 million dollars and a 2% decline in non-interest expenses to 13.1 billion dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2 billion dollars.
EPS rose 43% to 66 cents, four cents above the consensus.
Net banking income rose by 4% to 22.8 billion dollars, with a 6% increase in net interest income, thanks to higher interest rates and growth in loans and deposits.
The bank's results also benefited from a 118 million dollar reduction in credit loss provisions to 716 million dollars and a 2% decline in non-interest expenses to 13.1 billion dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.