Bank of America recorded a net attributable profit of $ 5,272 million between July and September 2019, representing a 21.3% decrease compared to the same period of 2018, after accounting for a negative impact of 2,100 in the third quarter million dollars for depreciation.
Last July, Bank of America reported that it terminated its alliance in the payment services segment with First Data, which had a negative impact on its third quarter accounts of $ 2.1 billion. Without taking this charge into account, the entity’s net profit would have reached a record of 7.5 billion dollars.
The turnover of the largest US bank by volume of deposits in the third quarter reached 22,807 million dollars, 0.4% more than in the same period of the previous year, with a 1% increase in interest income, up to 12,187 million dollars, but a decrease of 0.4% in the rest of concepts, up to 10.620 million dollars.
Thus, in the first nine months of the year Bank of America obtained a net attributable profit of US $ 19,250 million, which represents a 2% drop compared to the same period of 2018.
The entity’s revenues between January and September totaled 68,895 million dollars, 0.8% more, with a 3% growth in net interest income, up to 36,751 million dollars and a 1.6% fall from the rest of income, up to 32,144 million dollars.
“In a moderately growing economy, we have focused on managing those things that are controllable”, said Brian Moynihan, president and CEO of Bank of America.
K. Tovar
Source: Economiahoy
