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Bank of America | Better than expected profit, lower provisions

(New York) Bank of America posted better-than-expected earnings in the third quarter, with the establishment notably setting aside far less money to cover potential defaults by its customers affected by the coronavirus pandemic than in the previous quarter.

Posted Oct 14, 2020 at 7:17 am

Agence France-Presse

Net income fell 16% to $ 4.9 billion, but per share, excluding special items, it was 51 cents, more than the 49 cents analysts expect. Sales are at $ 20.33 billion, slightly below the projected 20.81 billion, the statement released Wednesday.

Written by Rahis

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