Arab Today, arab today bank of america achieves net income of 4bn in q2
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Bank of America achieves net income of $4bn in Q2

Arab Today, arab today

Arab Today, arab today Bank of America achieves net income of $4bn in Q2

New York - QNA

A cost-cutting programme and better conditions in capital markets helped Bank of America achieve a second-quarter profit of 4 billion dollars, the company said. The quarterly profit was 63-per-cent higher than the same period in 2012. The bank’s revenue grew to 22.9 billion dollars, a 3-per-cent gain, led by higher net interest income. The second-largest US bank said deposit balances were up 4 per cent companywide from the year-ago quarter to 1.1 trillion dollars. The cost-cutting programme reduced the payroll at Bank of America from 275,000 employees a year ago to 257,000.  

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