News Bank Of America
New York - Bank of America Corporation (BoA) reported losses of more than U.S. $ 5 billion or approximately USD 46 trillion in Fourth-quarter 2009 due to payment of bail (bail out) government at the end of last year.
BoA recorded losses of U.S. $ 5.2 billion or 60 cents per share from U.S. $ 2.4 billion or 48 cents per share in the same period in 2008. However, revenues increased 60 percent to U.S. $ 25.08 billion from U.S. $ 15.68 billion in the previous year.
Outside loan payments taxpayers U.S. $ 4 billion, the company suffered losses only U.S. $ 194 million compared to the previous period which reached U.S. $ 1.8 billion.
Analysts earlier predicted that BoA had lost 43 cents per share and revenue of U.S. $ 27 billion, according to data from Factset Research. Bank of America explained this financial report reflects continued despite the continuing credit risk has fallen from third-quarter 2009.
Interest income fell compared to 2008. However, beyond the interest income increased due to improvement in trade and investment, brokerage services, stock investment, and investment banking. "In 2010, we will be supported by the improved economy, and began stabilizing credit costs, and improving the consumption sector," said Chief Executive Brian Moynihan BoA.
source: TEMPO Interactive
Label: News Bank Of Amerika
