Bank of America: Q3 earnings up 10%

(CercleFinance.com) - Bank of America reports a 10% increase in Q3 2023 net income to $7.
8bn, i.e. $0.90 per diluted share, up from $7.1bn, or $0.81 per diluted share in Q3 2022.

Net interest income (NII) increased by $614m, or 4%, to $14.4bn, mainly thanks to higher interest rates and loan growth.

The Tier 1 capital ratio (CET1) was 11.9%. This was 29 bp higher than in Q2 2023, and 240 bp above the regulatory minimum.


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