Bank of America quarterly profit falls 4 percent
Net income applicable to common shareholders fell to 74 cents per share
FILE PHOTO: A Bank of America building is seen in Los Angeles, California, US, May 6, 2019. REUTERS/Lucy Nicholson
Bank of America Corp posted a 4.1percent fall in quarterly profit on Wednesday, as lower interest rates crimped the second-biggest US lender's ability to earn more from loans.
Net income applicable to common shareholders fell to $6.75billion, or 74 cents per share, in the fourth quarter ended Dec 31 from $7.04 billion, or 70 cents per share, a year earlier.
Revenue, net of interest expense, fell slightly to $22.35 billion.
Keep updated, follow The Business Standard's Google news channel
