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Bank Of America Q4 Profit Beats Estimates

Wednesday, January 15, 2014 - 11:58 AMBank of America - Details
Bank of America's fourth-quarter profit jumped as the nation's second-largest bank bounced back from a big legal settlement last year and beat analysts' profit forecasts by a penny per share. ``We enter this year with one of the strongest balance sheets in our company's history," Chief Financial Officer Bruce Thompson said in a statement. "Capital and liquidity are at record levels, credit losses are at historic lows, our cost savings initiatives are on track and yielding significant savings, and our businesses are seeing good momentum."
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