Hallo!
Die Gewinne der Bank of America sind im 4. Quartal 2000 um 27% eingebrochen. Die Aktie legt dennoch aktuell um rund 3% zu.
Hierzu folgender Artikel:
Bank of America Reports Profit Drop
Tuesday January 16 8:48 AM ET
CHARLOTTE, N.C. (Reuters) - Bank of America Corp., one of the top U.S. banks, said on Tuesday its fourth-quarter profits dropped 27 percent, as it warned they would in December, because of loan and investment losses.
The Charlotte, N.C.-based bank, which has some 4,400 branches in 21 states, earned $1.39 billion, or 85 cents a share in the quarter, compared with $1.90 billion, or $1.10 a share in the year-ago quarter.
The 1999 results include a $213 million charge related to the merger of BankAmerica and NationsBank, and the 2000 quarterly results included a gain from the sale of a factoring unit, the bank said in a statement.
Wall Street had expected Bank of America to earn 86 cents a share, according to market research firm First Call/Thomson Financial, which tracks analysts' estimates.
Its stock closed at $49-1/16 a share on Friday on the New York Stock Exchange, midway between its 52-week high of $60-14/16 and low of $36-6/16. The stock market was closed on Monday for the Martin Luther King Jr. holiday.
Bank of America warned last month it would miss analysts' fourth-quarter earnings forecasts because of some $1.2 billion in uncollectible debt and slack investment and trading gains.
U.S. banks have growing numbers of bad loans on their books after a string of interest rate increases by the Federal Reserve dampened economic growth and put pressure on some large corporate borrowers. At the same time, a stock market slump hurt banks' investment portfolios in the fourth quarter as well as businesses like trading and managing stock offerings.
The bank said its nonperforming assets, or loans with potential repayment problems, rose to $5.5 billion at the end of the fourth quarter, or 1.39 percent of loans, leases and foreclosed properties, compared with $3.2 billion a year earlier, or 0.86 percent. The bank's provisions for credit losses in the fourth quarter jumped to $1.21 billion compared with $350 million in the year ago quarter.
Its net interest income rose 5 percent to $4.79 billion while noninterest income fell 8 percent to $3.30 billion in the fourth quarter. Declines in equity investment gains, mortgage servicing, investment banking and trading revenue
hurt noninterest income in the fourth quarter, the bank said.
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