Bank of America quarterly profit drops 43 per cent
Wednesday, 16 July 2014
Bank of America Corp (BAC.N), the second largest US bank by assets, reported a 43 drop in second-quarter profit as mortgage revenue fell and litigation costs increased. Earnings attributable to shareholders fell to $2.04 billion, or 19 cents per share, in the three months ended June 30 from $3.58 billion, or 32 cent per share, a year earlier, according to Reuters.