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Bank of America: Q4 beats consensus

(CercleFinance.com) - Bank of America has reported Q4 2019 net income that is down 4% at 7 billion dollars, i.
e. 74 cents per share, with EPS still five cents above the consensus.

The financial institution's revenue, net of interest expense, fell 1% to 22.3 billion dollars, with a 3% decrease in net interest income due to lower interest rates, while partly offset by growth in loans and deposits.

"As evidenced by a quarter in which our customer deposits surpassed $1.4 trillion and client balances in our wealth management business topped $3 trillion, we enter 2020 with momentum," said Chairman and CEO Brian Moynihan.

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