{"id":289,"date":"2009-04-23T14:53:08","date_gmt":"2009-04-23T14:53:08","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/?p=289"},"modified":"2009-04-23T14:53:08","modified_gmt":"2009-04-23T14:53:08","slug":"bank-of-america-profits-beat-expectations","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2009\/04\/23\/bank-of-america-profits-beat-expectations\/","title":{"rendered":"Bank of America profits beat expectations"},"content":{"rendered":"<div class=\"left\" style=\"text-align: left;\"><\/div>\n<p>The run of good luck is continuing among US banks as Bank of America is the latest to exceed<\/p>\n<div class=\"left\"><img decoding=\"async\" class=\"alignright\" style=\"float: right;\" src=\"http:\/\/www.financemarkets.co.uk\/images2\/money-2.jpg\" alt=\"\u201dBank\" \/><\/div>\n<p style=\"text-align: left;\">analysts expectations after it made a net profit of $4.24 billion for the three months ending 31 March &#8211; almost triple that of a year ago of $1.21 billion.<\/p>\n<div class=\"left\"><\/div>\n<div class=\"left\"><\/div>\n<p style=\"text-align: left;\">The bank, which is the largest in the US by assets, said revenues rose to a record $36 billion, while earnings were boosted by the bank\u2019s acquisition of Wall Street investment bank Merrill Lynch, completed earlier this year. The acquisition contributed $3.7 billion.<\/p>\n<p style=\"text-align: left;\">Furthermore, its acquisition of Count<\/p>\n<div class=\"left\"><\/div>\n<p style=\"text-align: left;\">rywide Financial Corp. also enhanced income, as mortgage lending and refinancing increased.<\/p>\n<p style=\"text-align: left;\">Bank of America said the two acquisitions had contributed \u201coutstanding performances\u201d and are driving profit at the bank.<\/p>\n<p style=\"text-align: left;\">The results follow those already reported by US banks including Citigroup, JP Morgan Chase and Goldman Sachs, who have all announced better-than-expected first quarter results.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The run of good luck is continuing among US banks as Bank of America is the latest to exceed analysts<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[48],"tags":[],"class_list":["post-289","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=289"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/289\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}