Bank of America profit falls 19.4 percent as interest income drops

July 18, 2016 11:24 AM

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Bank of America profit falls 19.4 percent as interest income drops

Bank of America Corp (BAC.N), the second-largest U.S. bank by assets, reported a 19.4 percent fall in quarterly profit on Monday as low lending rates dented its interest income.

Net income attributable to BofA's common shareholders fell to $3.87 billion, or 36 cents per share, in the second quarter ended June 30, from $4.80 billion, or 43 cents per share, a year earlier. (bit.ly/29PfzH5)

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