October 17, 2022
(Reuters) - Bank of America Corp joined other big U.S. banks in reporting a drop in third-quarter profit on Monday as it set aside funds to cover soured loans from a potential deterioration in the U.S. economy.
Net profit applicable to common shareholders was $6.6 billion, or 81 cents a share, for the quarter ended Sept. 30, compared with $7.3 billion, or 85 cents a share, a year earlier.
By Mehnaz Yasmin and Manya Saini in Bengaluru and Saeed Azhar and Lananh Nguyen in New York
Editing by Anil D'Silva
October 17, 2022
