Bank of America: quarterly EPS more than halved
Net interest income fell by 10% to $22 billion (-4% excluding the cessation impact of the Bloomberg Short Term Bank Yield Index), including a 5% reduction in net interest income due in particular to higher deposit costs.
The banking group's non-interest expenses rose by 14% to $17.7 billion, but excluding the FDIC (Federal Deposit Insurance Corporation) special assessment, they increased by only 1%.
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