BoA Reports $1.2 Billion Quarterly Loss
Bank of America has reported its second straight quarterly loss, $1.2 billion for the last three months of 2010 after a devaluation of its mortgage business. —JCL The BBC: Bank of America has reported a second straight quarterly loss, driven by a $2bn (£1.25bn) writedown of its mortgage business. The bank announced a net loss of $1.2bn in the last three months of 2010, compared with a $5.2bn loss a year ago. However, last year’s results included a $4bn charge related to the government’s Troubled Asset Relief Program (Tarp). Read more Related Entries January 14, 2011 Great Floods Hit Sri Lanka January 14, 2011 Mudslides Kill 500 in Brazil
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BoA Reports $1.2 Billion Quarterly Loss
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on January 21, 2011. Filed under