April 16, 2018 / 11:03 AM / in 6 months

BRIEF-Bank Of America Reports Qtrly EPS Of $0.62

April 16 (Reuters) - Bank of America Corp:

* BANK OF AMERICA REPORTS RECORD QUARTERLY EARNINGS OF $6.9 BILLION, EPS $0.62

* QTRLY REVENUE, NET OF INTEREST EXPENSE, INCREASED 4% TO $23.1 BILLION

* Q1 EARNINGS PER SHARE VIEW $0.59, REVENUE VIEW $23.07 BILLION — THOMSON REUTERS I/B/E/S

* QTRLY PROVISION FOR CREDIT LOSSES STABLE AT $834 MILLION

* QTRLY NET INTEREST INCOME (NII) INCREASED $550 MILLION, OR 5%, TO $11.6 BILLION

* QTRLY NONINTEREST EXPENSE DECLINED $196 MILLION, OR 1%, TO $13.9 BILLION

* QTRLY NONINTEREST INCOME INCREASED $327 MILLION, OR 3%, TO $11.5 BILLION

* BANK OF AMERICA - “STRONG CLIENT ACTIVITY, COUPLED WITH A GROWING GLOBAL ECONOMY AND SOLID U.S. CONSUMER ACTIVITY, LED TO RECORD QUARTERLY EARNINGS”

* QTRLY NET CHARGE-OFFS DECLINED $23 MILLION TO $911 MILLION

* BANK OF AMERICA QTRLY CET1 RATIO UNDER BASEL 3 STANDARDIZED APPROACH 11.4 PERCENT

* BANK OF AMERICA SAYS “CAREFULLY MANAGED CREDIT COSTS”

* TAX ACT RESULTED IN AN ONGOING REDUCTION TO EFFECTIVE TAX RATE OF ABOUT 9 PERCENTAGE POINTS Source text : (bit.ly/2qCLx19) Further company coverage:

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