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BofA’s Best Quarter Of The Year Not Actually That Great

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11% drop in profitability and all—was BofA’s second in the black of 2014, so that's something!

Chief Executive Officer Brian T. Moynihan, 55, said last month that declines in trading revenue and low interest rates hurt fourth-quarter results. It was the lender’s second profitable quarter of the year as costs from mortgage disputes and investigations into foreign-exchange manipulation weighed on results….

Higher activity in rates and foreign-exchange trading in December was overwhelmed by difficult credit markets during the month, Bank of America Chief Financial Officer Bruce Thompson told reporters and analysts today.

BofA Profit Drops 11% as Fixed-Income Trading Revenue Slumps [Bloomberg]

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