Bank of America reports quarterly profit

April 15, 2015 11:21 AM

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Bank of America reports quarterly profit

(Reuters) - Bank of America Corp, the No. 2 U.S. bank by assets, reported a first-quarter profit of $2.98 billion, compared with a surprise loss a year earlier when it took a charge of $6 billion for litigation expenses.

BofA reported net income attributable to common shareholders of 27 cents per share for the quarter ended March 31, compared with a loss of 5 cents per share a year earlier.

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