Bank of America, one of the largest lenders in the United States, registers results better than analysts' expectations in the first quarter of the year. The group announces a net profit of 4,85 billion (3,47 billion in the same period of the previous year). Net of €500 million allocated to preferred shareholders, earnings distributable to ordinary shares amounted to €4,35 billion, up 44,4% from €3,015 billion in Q2016 XNUMX
Revenues grow to 22,2 billion (+7%). The increase in interest rates in the United States was reflected in the interest margin which grew by 5% for BofA to 11,1 billion. The US bank has registered provisions for non-performing loans for 835 million, down 16%, in addition to write-downs of 934 million (-13%). BofA also shows an improvement in capital ratios with a Cet1 of 11% (10,8% at the end of 2016).
On the other hand, the results of the investment bank were lower than expected Goldman Sachs: In the first quarter, earnings per share amounted to $5,15 on revenues (up) of $8,03 billion. Analysts had forecast EPS of $5,31 on revenues of $8,37 billion.
