BofA Posts $3.4B Fourth-Quarter Profit
Bank of America brought in $3.4 billion in profits last quarter, beating out the previous quarter’s $2.5 billion and the previous year’s $732 million. The bank says it’s entering the new year with one of the strongest balance sheets in its history, largely the result of cost-cutting and declining credit losses. Provisions for credit losses have fallen from $2.2 billion to $336 million over the past year.
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