Bank of America profits rise; bank warns of slowing economy

Associated Press

01/13/2023

Earns Bank of America — A BANK OF AMERICA ATM in Winchester, Mass. The Charlotte, North Carolina-based bank said Friday that it earned a profit of $7.13 billion in the fourth quarter of 2022. / ASSOCIATED PRESS FILE PHOTO ELISE AMENDOLA

NEW YORK (AP) – Bank of America's fourth-quarter profits rose slightly from a year ago, as higher credit costs and potentially bad loans more than offset the bank's sharp rise in interest revenue. The Charlotte, North Carolina-based bank said Friday that it earned a profit of $7.13 billion, or 85 cents a share in the…

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