Thursday, 21 September 2017 05:15 GMT

img

Bank of America Quadruples Profits in 2013 Q4

(MENAFN - Qatar News Agency) Bank of America achieved a net profit of $3.44 billion at the final quarter of 2013, the bank said Thursday.



The financial results are around four times more the net profit achieved in the same period of 2012, worth $732 millio



Many analysts suggested that Bank of America was still recovering from the world credit crunch of 200



However last year's results show that the bank have moved passed those troubled time



The bank's improved results are related to the United States' recent economic progress, that enabled many of its citizens to start paying their loans bac



Bank of America had to lay off a large number of employees as a result of the financial crisi



Last year, the number of employees decreased by 9% to 242,100
Bank of America Quadruples Profits in 2013 Q4

More Stories

Newsletter