Minus 18 percent: Bank of America earned less – n-tv.de NEWS

 Economy
 

 Thursday, April 14, 2016

 
 
 

 
 The bottom line is a surplus of more than two billion dollars. Nevertheless, the result of Wall Street triggers little joy. The second largest bank in the United States must accept a severe drop in profits.
 

 
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The Bank of America (BoA) has due to a weak bond and equity trading in the first three months of the year, significantly less worthy than a year ago. The surplus fell compared to the same period by 18 percent to 2.22 billion dollars as the second largest US money house told

The weak first quarter can be, according to industry insiders attributed to various reasons. Had Among other oil price decline, concerns about the Chinese economy and the impact of US interest rate turnaround the business of major bank charged. The three factors rattled the financial markets at the beginning vigorously what came to feel the commerical many banks:

With a quarterly result of 2.2 billion dollars, the Bank of America cut much worse than US leader JP Morgan. In the weightier rival’s net profit fell in the first quarter by just under seven percent to 5.52 billion US dollars.

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The Bank of America has numerous clients in the oil and gas industry. Especially in connection with the fall in oil prices – draw its causes the entire commodity sector affected – had to provide against a considerable extent the bank: The provisions of the Institute of bad loans rose by 30 percent to $ 997 million

In. major bond trading, foreign exchange and commodities broke revenue is 17.5 percent. JP Morgan had pulled slightly better in the bond sector with a decline of 13 percent from the affair. During the day, analysts get more figures from the US banking industry: A few hours after BoA ​​US money house Wells Fargo plans to submit his interim report

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  Source: n-tv.de
 

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