Web www.software-risk.co.uk

Bank of America in contrast to Citigroup has beaten the expectations of Wall Street analysts.

Second-quarter net income rose by 12%. Credit cards and gains on investment are cited as the the big gains.

Net income rose to $4.3bn ($3.85bn) or $1.06 per share (93 cents).

Revenue grew 7% to $14.2bn ($13.2bn).

Bank of America is currently acquiring the MBNA credit card business.

Net interest income grew 1% to $7.84. A growing loan portfolio and deposit levels offset a flatter yield curve.

Related Articles
Bank of America Extends Online Security
Time Warner Pays $2.4bn To Settle AOL Dispute
Clients Withdraw $5.7bn from Amvescap
Verizon Posts 18% Increase With Wireless Help
Hyperion Q4 and Year End Results 2005
Home Federal Bancorp Results
Wachovia Posts Stellar Results
Intel Quarterly $9.2bn Record Revenue

Similar Areas

Finance Items

Banking Items

Management Items

Corporate Finance Items

Investment Banking Items

Selected Books

Keywords

Bank of America

quarterly results

bank results

banking revenue

Wall Street analysts

Credit Cards

MBNA

loan portfolio

deposit levels