Bank of America Posts Record Profit
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Three of the biggest U.S. banks, led by Bank of America Corp., reported record quarterly profits on Tuesday as consumers and companies borrowed more and credit quality improved.
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Exxon Mobil Corp. Thursday reported the biggest annual profit on record for a U.S. corporation - earning more than $75,000 every minute of 2006 on the back of record oil prices.
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Bank of America Corp , the second-largest U.S. bank, on Thursday said third-quarter profit fell 32 percent, a steeper decline than expected, hurt by mounting credit losses and the impact of volatile markets on its investment banking unit.
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UBS , the world's largest wealth manager, reported record full-year profits as its wealth management and investment banking units boomed, hiked its dividend and unveiled a 16 billion Swiss franc ($12.77 billion) share buyback.
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The biggest U.S. bank said it pulled in record second-quarter revenues, boosted by strength in overseas operations.
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Wells Fargo & Co.  and U.S.  Bancorp  recorded higher second-quarter profits, leading  a batch of bank earnings on Tuesday, as higher fees offset  pressure on lending margins from rising interest rates.
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Goldman Sachs reported profit of $3.2 billion, setting a record amid growing concern over falling stock prices and an imploding subprime mortgage market.
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Bank of America, the third large money-center bank to report earnings this week, said its net income fell 32 percent in the third quarter to $3.70 billion. The decline was less than the 57 percent plunge in profits at Citigroup. But the results were far worse than the 2 percent rise in earnings posted by [...].
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The No. 5 U.S. bank said third-quarter profit rose 14 percent, helped by increased lending to consumers and a decline in bad loans.
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Bank of America Corp., the nation&#39;s third-largest bank by assets, said Thursday that its third-quarter profit climbed 29 percent on the strength of increased lending and fees from consumer banking resulting from the FleetBoston acquisition.
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Bank of America Corp. on Thursday posted third-quarter profits of $3.76 billion, or 91 cents per share, a penny ahead of Wall Street&#39;s expectations.
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Bank of America Corp. , the No. 3 U.S. bank, on Tuesday said fourth-quarter profit rose 41 percent, helped by growth in consumer banking fees and its purchase of FleetBoston Financial Corp.
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Bank of America Corp. , the nation's largest retail bank, reported yesterday that third-quarter earnings plummeted 32 percent because of problems in mortgage and credit markets. But analysts said the bank's woes are unlikely to have an effect on consumers or businesses in Massachusetts, a market the bank dominates.
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Citigroup Inc., the nation's largest financial institution, reported record quarterly earnings on Thursday and said it was working to resolve outstanding legal and regulatory issues.
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Goldman Sachs Group Inc. , the  largest investment bank by market value, said on Tuesday that  its quarterly profit rose 93 percent on investment gains,  banking fees and strong trading results.
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TORONTO - Bank of Nova Scotia reported a record annual profit of $2.93 billion Tuesday, an increase of more than $400 million, or 18 per cent, over 2003.
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American Express Co., the fourth- largest US credit-card issuer, said quarterly profit climbed 14 percent to a record as customers spent more on travel and carried larger loan balances.