Bank of America, the second-largest U.S. bank by assets, reported a 19.4 percent fall in quarterly profit on Monday as low lending rates dented its interest income; however the results exceeded the forecasts of experts. According to Business Insider, profit of the North Carolina-based bank totaled $4.23 billion, or 36 cents per share, including 6 cents per share after write-downs, related to the revaluation of the fair value of the assets of the Bank of America. In the same period of 2015, profit totaled $5.13 billion, or 45 cents per share. Analysts had earlier forecasted that BofA profit would total 33 cents per share. Revenue in the second quarter of 2016 decreased to $20.4 billion from $21.96 billion for the same period in 2015. Adjusted revenue totaled $20.6 billion.

 

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