Bank of America Earns 3.1 Billion USD in Second Quarter

Bank of America Corporation today $ 3200000000 $ 3,100,000,000 compared to net income a year ago, has reported second quarter 2010 net income. Earnings after preferred dividends of $ 0.27 per diluted share in the second quarter compared to $ 0.33 in 2009.

Result of low credit costs due to the fourth quarter for even advanced drove the company as non-core asset sales of the central business area and the presence of the direct financial services, the provision of the contributions focus on the disposal, to reinforce to customers. These positive achievements are partly low transaction accounts, offset by lower mortgage banking income and incentive compensation payments to certain year-end UK payroll tax and increased costs.

"Our quarterly results, our strategy, our three main customer groups around to align the progress we - consumers, businesses and institutional investors - and the financial institution of these customers, clarity, a wide relationship building I want us to create, show transparency, and them in difficult times help you manage , "Chief Executive Officer and President Brian Moynihan said. "We profits through and the credit quality of our capital base has been developed even faster than expected rise. We, the world's most complete financial franchise is our strategy execution and to our customers and shareholders over the long term adding value focused."

Second Quarter Business Highlights

* Bank of America's global franchise and leverage continued to increase the number of referrals. Merrill Lynch approximately 80,000 credit and deposit products to customers in the second quarter, up from 60 000 and 35 000 in the first quarter of 2010 was delivered in all of 2009. Global Asset and Investment Management businesses and the company's commercial and corporate advice in the first quarter of 2010 increased 24 percent.

* Bank of America, Merrill Lynch, the U.S. net investment banking revenue over 13 percent market share, with Dealogic second quarter 2010 league tables, according to well No. 1 ranked global investment global leveraged loan No. 1, No. 1 grade corporate debt, and a number one global syndicated loans.

* Average retail deposit balances from the $ 649,600,000,000 a year ago, paced the Merrill Lynch Global Asset Management with strong organic growth was 3 percent increase.