The Bank of America Corporation, the second-largest bank in the US , has announced that it lost US $2.24 billion in the third quarter of this year, mainly due to increases in loan losses. According to the bank, the losses are equal to 26 cents per share, worste than most economic analysts had forecast. In the same period a year earlier, Bank of America had gained $ 704 million, or fifteen cents per share. The bank's CEO, Ken Lewis, said in a statement that "[...] credit costs remain high, and that is our major financial challenge going forward. However, we are heartened by early positive signs, such as the levelling of delinquencies among our credit card numbers."
The Bank of America Corporation, the second-largest bank in the United States , has announced that it lost US $2.24 billion in the third quarter of this year, mainly due to increases in loan losses. Bank of America logo. According to the bank, the losses are equal to 26 cents per share, worse than most economic analysts had forecast. In the same period a year earlier, Bank of America had gained $ 704 million, or fifteen cents per share. The bank's CEO, Ken Lewis, said in a statement that "[...] credit costs remain high, and that is our major financial challenge going forward. However, we are heartened by early positive signs, such as the leveling of delinquencies among our credit card numbers."
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US
United States
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$2.24 billion in the third quarter of this year, mainly due to increases in loan losses. According to the bank, the losses are equal to 26 cents per share, worste than most economic analysts had forecast. In the same period a year earlier, Bank of America had gained $
$2.24 billion in the third quarter of this year, mainly due to increases in loan losses. Bank of America logo. According to the bank, the losses are equal to 26 cents per share, worse than most economic analysts had forecast. In the same period a year earlier, Bank of America had gained $
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levelling
leveling