Bank of America: Trading Surge Amid Net Income Drop

Bank of America Reports Decrease in Net Income Amid Trading Revenue Growth

NEW YORK – Bank of America Corporation has witnessed a sharp decline in its net income, dropping to $3.1 billion in the fourth quarter from $7.1 billion in the corresponding period last year. Despite the downturn, propelled by one-off charges amounting to $3.7 billion, the banking giant outperformed market expectations with an adjusted earnings per share of 70 cents. The initial stock response saw a near 3% fall, yet optimism remains as the company projects a bounce back in Net Interest Income (NII) bolstered by notable loan growth.