Bank of America: Q4 EPS down over 50%

(CercleFinance.com) - Bank of America reports net income that is down 56% y-o-y to $3.
1bn for Q4 2023, or 35 cents per share, while adjusted EPS reached 70 cents.

Net interest income fell by 10% to $22bn (-4% excluding the cessation impact of the Bloomberg Short Term Bank Yield Index), including a 5% reduction in net interest income, in particular due to higher deposit costs.

The banking group's non-interest expenses rose by 14% to $17.7bn, but excluding the FDIC (Federal Deposit Insurance Corporation) special assessment, they increased by only 1%.


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