FleetBoston profits up 10 percent

BOSTON — FleetBoston Financial Corp., the eighth largest U.S. bank holding company, posted a 10-percent rise in operating earnings. Fleet, which has operations ranging from commercial banking to a discount brokerage, reported operating earnings of $782 million, or 84 cents a diluted share. That compares with profits of $711 million, or 74 cents a share, a year ago. Including the gains related to the sale of certain deposits and loans and merger-related expenses, the company posted net income of $841 million, or 90 cents a share.