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Bank Of America Has Strong Fourth Quarter
(Reuters) - Bank of America Corp (BAC.N) reported better-than-expected fourth-quarter profit as higher interest income and loan growth eclipsed declines in revenue from investment banking and bond trading, sending its shares up 3 percent.
Loans to consumers rose 4 percent, while those to businesses rose 2 percent, the bank said.
Total net interest income - the difference between what a lender earns on loans and pays on deposits - rose 7.3 percent to $12.3 billion.
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