Current location:Stellar Space news portal > entertainment
Bank of America's Q1 profits fall 18% on higher expenses, charge
Stellar Space news portal2024-04-30 08:18:37【entertainment】7People 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.
Address of this article:http://www.afischerphasedrives.com/content-76e599357.html
Very good!(71111)
Related articles
- Songs of celebration hail anniversary
- Aston Villa beats Arsenal 2
- Xiong'an emerges as high
- London Book Fair director calls for more cultural exchange
- Israeli airstrike kills 14 in Gaza's refugee camp
- New Yorkers wrap up Lunar New Year celebrations with big parades
- Feature: Students in Myanmar studying Chinese celebrate Spring Festival
- Tourism flourishes as Kashgar gears for Spring Festival gala
- British and Irish officials meet as tensions rise over what to do with asylum seekers
- 'Saturday Night Live': Caitlin Clark makes surprise cameo
Popular articles
Recommended
50 migrants reported missing and 9 rescued after their boat overturns off Spanish Atlantic island
Tourism flourishes as Kashgar gears for Spring Festival gala
Terrifying map reveals route Iran's strike force of 100 kamikaze drones will take to hit Israel
'Wearing garden on the head' in Fujian attracts visitors
Syrian, Russian forces destroy 'terrorist' strongholds in N. Syria
Joel Cauchi: New details emerge about Bondi Junction knifeman that killed six
Inside the China Online Audiovisual Annual Gala
'Wearing garden on the head' in Fujian attracts visitors
Links
- Foreign journalists visit exhibition on Chinese civilization
- Innovative greening manifests China's environmental preservation drive
- Union settles extended strike with Pittsburgh newspaper, while journalists, other unions remain out
- Hangzhou Asiad legacy integrates into local people's daily lives
- Civil War viewers are left stunned by Jesse Plemons 'dead
- TOWIE's Ella Rae Wise puts on a leggy display in tiny black hotpants with an ab
- A political prisoner in Belarus smuggles out account of beatings after writing on toilet paper
- National cultural parks enshrining Chinese ethos
- RHOM star Alexia Nepola's husband Todd files for DIVORCE after two years
- Savoring dream life in Tibet with a coffee van