Wed, 18 Jul 2012 15:39:16 GMT
Bank of America reports $2.5 billion profit
On Wednesday, July 18, the bank of America, the second biggest U.S. bank,
posted its second quarter report with $2.5 billion earnings. A cost-cutting
plan, introduced a year earlier, helped the bank's fundamentals improve. Expenses
dropped to $17 billion, or by 35 per cent, while the number of employees declined more
than 12,000, what is the first phase of bank's cost cutting plan. Soon after
the data