Bank of America profit fell 12% in the first quarter

Profits plummeted Bank of Americaby 12 in the first quarter in the first quarterly decline since 2020.

The bank’s profits exceeded $7 billion in the first quarter, compared to $8 billion in the same period a year earlier.

These earnings came in higher than the average forecast of analysts.

The bank recorded an increase in consumer banking income by 9%, while net interest income rose by about $1.4 billion thanks to the strong growth in deposits and loans.

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