NEW YORK (MarketWatch)
Bank of America Corp. on
Thursday posted fourth-quarter profit of $732 million, or 3 cents a share,
compared to $1.99 billion, or 15 cents a share a year ago
Revenue at the firm
was $18.7 billion, compared to $24.9 billion a year ago
Analysts polled by
FactSet Research had expected the company to earn 2 cents a share on revenue of
$21.19 billion
The latest quarter's results included several one-time,
previously disclosed items, including a provision of $2.7 billion related to the
settlements with Fannie Mae with respect to representations and warranties and
compensatory fees; other provision items of $2.5 billion which included a $1.1
billion provision for the Independent Foreclosure Review (IFR) acceleration
agreement, total litigation expense of $900 million and a $500 million provision
for obligations related to mortgage insurance rescissions
The company also took
a hit of $700 million for negative debit valuation adjustments and fair value
option adjustments due to improvement in the company's credit spreads
"Relative
to the year-ago quarter, the results for the fourth quarter of 2012 were driven
by improved credit quality across most major portfolios, increased sales and
trading revenue, increased investment and brokerage income, higher investment
banking fees, partially offset by an increase in consumer real estate losses,
reflecting the Fannie Mae settlements and the provision for the IFR acceleration
agreement," the company explained in a press release
Formación Académica y Profesional
Licenciado Matemáticas (Especialidad Fundamentales) por UCM, MBA Executive, MBA Financial Markets, Project Management Excellence Certified
Financial Markets Services Consulting, IT CIO ACO Grupo Santander, IBM Global Services Principal, Electronic Data System Client Ececutive
Licenciado Matemáticas (Especialidad Fundamentales) por UCM, MBA Executive, MBA Financial Markets, Project Management Excellence Certified
Financial Markets Services Consulting, IT CIO ACO Grupo Santander, IBM Global Services Principal, Electronic Data System Client Ececutive

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The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy. Meanwhile, USA must correct debt and raise the interest rates. Raising the interest rates in the USA and dropping them in Europe, recovers the European domestic demand and EE.UU may return to invest in Europe, with a stronger dollar, without any problem, generating hundreds of thousands of Jobs

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1 comentario:
Las cuentas de Citigroup defraudan al mercado
El grupo Citigroup mejoró su beneficio por acción hasta los 0,69 dólares, frente a los 0,96 dólares esperados. El beneficio del cuarto trimestre subió hasta los 1.200 millones de dólares frente a los 956 del mismo periodo de un año antes. Los ingresos alcanzaron los 18.659 millones de dólares frente a los 18.819 millones esperado
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