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BofA's profit rises on higher interest rates, loan growth
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APRIL 16, 2018 / Reuters Staff

(Reuters) - Bank of America (BAC.N) reported a 34 percent rise in first-quarter profit on Monday as it benefited from higher interest rates and loan growth.

The second-largest U.S. bank by assets said net income attributable to shareholders rose to a record $6.49 billion in the three months ended March 31 from $4.84 billion a year earlier. Earnings per share rose to 62 cents from 45 cents.

Analysts on average had expected 59 cents per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.

Total revenue, net of interest expense, rose about 4 percent to $23.28 billion.

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