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Bank of America Triples Profits

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Bank of America Triples Profits

Bank of America Triples Profits

A Bank of America logo is seen in New York City, U.S. January 10, 2017.

REUTERS/Stephanie Keith (Reuters) - Bank of America Corp (BAC.N) reported fourth-quarter profit that more than tripled from a year earlier, when it took a $2.9 billion charge related to changes in the U.S. tax law.

Net income applicable to common shareholders rose to $7.04 billion, or 70 cents per share, in the fourth quarter ended Dec.

31 from $2.08 billion, or 20 cents per share, a year earlier.

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