Bank of America 4Q profit falls 18% on lower interest rates

Ken Sweet

01/19/2021

Earns Bank of America — BANK OF AMERICA reported fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down the bank. However the bank was able to release more than $800 million from its credit reserves, in a sign that it sees the U.S. economy improving in the coming months. / AP FILE PHOTO/STEVEN SENNE

CHARLOTTE, N.C. (AP) – Bank of America Corp.’s fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down its results. However the bank was able to release more than $800 million from its credit reserves, a sign that it sees the United States economy improving in the coming months. The North…

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