BAC 1Q dampened by low rates

April 15, 2015 11:37 AM

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Bank of America said its first-quarter results, including a $1.3 billion decline in revenue, were dampened slightly due to the impact of lower interest rates on its debt portfolios.

The Charlotte, N.C., bank posted net income for the three months ended in March of $3.4 billion, or 27 cents per share. Revenue, net of interest expense, declined $1.3 billion over last year's first quarter to $21.4 billion.

Also read: Deutsche Bank Posts Unexpected Profit on Lower Overhaul Costs

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