Bank of America: 39% increase in quarterly EPS – 01/19/2022 at 1:26 p.m.

(CercleFinance.com) – Bank of America reports net profit up 28% to seven billion dollars in the fourth quarter of 2021, i.e. EPS up 39% to 82 cents, thanks to strong operating leverage .

Net interest expense income increased 10% to $22.1 billion, with net interest income up 11% due in part to an increase in deposits, while non-interest expense only increased by 6%.

Provisions for credit losses also improved by $542 million, resulting in a profit of $489 million on this line of business, thanks to improvements in asset quality and the macro economy.

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