• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Bank of America sees profit fall on mortgage settlement

15/10/2014
Reading Time: 1 min read
0
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

Bank of America has reported a big drop in profits due to a multi-billion dollar settlement with US authorities.

Net profit for the three months to the end of September was $168m (£106m), down from $2.5bn a year earlier. Total revenue was $21.4bn.

The huge drop in profits was due to a previously announced $5.3bn mortgage-related settlement with the Department of Justice and other federal agencies.

Most areas of the business improved profitability compared with a year ago.

“We saw solid customer and client activity and improved profitability in most of our businesses relative to the year-ago quarter,” said the bank’s chief executive Brian Moynihan.

The bank’s property business posted a loss of $5.2bn, compared with a loss of $990m a year earlier.

Profits at the asset management arm rose slightly to $813m, while those at the global banking division rose by a quarter to $1.4bn.

The global markets business turned a loss of $875m to a profit of $769m.

On Tuesday, rival JP Morgan reported a profit of $5.6bn for the quarter, while Citigroup posted a $3.4bn profit.

Previous Post

Exporters need long-term financing

Next Post

Inflation hits 16.5 percent

Related Posts

Lucky Ladys Charm Für 400% bonus casino nüsse Ohne Registrierung 2023

21/08/2023

Benefits of Free Online Slots

22/06/2023

22/06/2023

You are enjoying the Casino Free Slots Experience

22/06/2023

22/06/2023

22/06/2023
Next Post

Inflation hits 16.5 percent

Judgement Debt Commission to end public sitting October ending

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2023 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2023 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In