Bank of America earns 20,869 million through September, up 31.5%

Bank of America earns 20,869 million through September, up 31.5%



Bank of America earned 20,869 million dollars in the first nine months of the year, 31.5% more than in the same period of the previous year, benefited by the rise in interest rates and the tax reform in the United States.

The entity, in a statement, today announced a net profit per share of $ 1.91 until September, compared to $ 1.36 a year ago.

The banking group, the second in the US by volume of assets, it invoiced 68,511 million dollars in the first nine months of 2018, 2.4% more than in 2017, when it had entered 66,916 million.

In the third quarter, figures to which the markets were paying more attention today, Bank of America obtained a net profit of 7.167 billion dollars, 32.1% more than in the same period of the previous year.

Per share, the Charlotte-based entity (North Carolina) earned 66 cents, compared to 46 cents at the time.

The group's turnover amounted to 22,777 million dollars between July and September, a year-on-year increase of 4.3%.

The bank's accounts benefited from the rise in interest rates, which the Federal Reserve (Fed) rose again in September, the eighth increase since it began acting on that line at the end of 2015.

In addition, like other large American companies, Bank of America continues to benefit from the corporate tax cut approved last year by the Donald Trump Administration.

According to the bank, the results of the third quarter are the highest before taxes in the history of the entity.

The president and CEO, Brian Moynihan, highlighted in a note the positive trajectory of Bank of America for fifteen consecutive quarters and attributed it to the continued growth of deposits, to a solid loan business and to an important discipline in spending.

The profits of the bank were above the analysts' expectations, but one hour after the opening of Wall Street, its shares fell a clear 2.43% in the New York market.

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