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Germany’s Federal Financial Supervisory Authority (BaFin) has penalized multinational investment bank Bank of America (BofA).
Germany’s financial watchdog has fined BofA $5.28 million for late reporting of voting notices. Reuters report.
in the meantime, financial king Bank of America’s net income fell 13% to $6.1 billion in the second quarter of 2022, we previously reported.
Bank of America posted net income of $7.1 billion at the end of the first quarter of this year.
Investment bank earnings per share also fell to $0.73 in the second quarter of 2022. This he was down 9% from $0.80.
Additionally, data released by Bank of America showed net interest income jumped 22% to $12.4 billion in the last quarter.
On the contrary, Global and Consumer Banking, Global Wealth and Investment Management, and Banks in Global Markets businesses each declined.
BofA posted an 11.7% decline in net income compared to the first quarter in its global banking business.
Net income for this category was $1.5 billion.
Meanwhile, BofA’s Global Wealth and Investment Management business posted a 9% decline in net income. The business generated $1.2 billion in the last quarter, off from $1.1 billion in the first quarter.
Additionally, BofA’s Global Markets generated $1 billion in the second quarter of 2022. That’s down from his $1.6 billion recorded in the first quarter.
Germany’s Federal Financial Supervisory Authority (BaFin) has penalized multinational investment bank Bank of America (BofA).
Germany’s financial watchdog has fined BofA $5.28 million for late reporting of voting notices. Reuters report.
in the meantime, financial king Bank of America’s net income fell 13% to $6.1 billion in the second quarter of 2022, we previously reported.
Bank of America posted net income of $7.1 billion at the end of the first quarter of this year.
Investment bank earnings per share also fell to $0.73 in the second quarter of 2022. This he was down 9% from $0.80.
Additionally, data released by Bank of America showed net interest income jumped 22% to $12.4 billion in the last quarter.
On the contrary, Global and Consumer Banking, Global Wealth and Investment Management, and Banks in Global Markets businesses each declined.
BofA posted an 11.7% decline in net income compared to the first quarter in its global banking business.
Net income for this category was $1.5 billion.
Meanwhile, BofA’s Global Wealth and Investment Management business posted a 9% decline in net income. The business generated $1.2 billion in the last quarter, off from $1.1 billion in the first quarter.
Additionally, BofA’s Global Markets generated $1 billion in the second quarter of 2022. That’s down from his $1.6 billion recorded in the first quarter.
