January 17, 2018 / 12:18 PM / a month ago

BRIEF-Bank Of America Reports Q4 2017 Shr $0.20

Jan 17 (Reuters) - Bank Of America Corp:

* BANK OF AMERICA REPORTS Q4-17 NET INCOME OF $2.4 BILLION, EPS $0.20

* BANK OF AMERICA SAYS Q4-17 RESULTS INCLUDE CHARGE OF $2.9 BILLION, OR $0.27 PER DILUTED SHARE, FOR THE TAX ACT

* BANK OF AMERICA SAYS Q4-17 REVENUE, NET OF INTEREST EXPENSE, INCREASED 2% TO $20.4 BILLION FROM $20.0 BILLION

* BANK OF AMERICA SAYS Q4-17 NET INTEREST INCOME INCREASED $1.2 BILLION, OR 11%, TO $11.5 BILLION

* BANK OF AMERICA SAYS Q4-17 NONINTEREST INCOME DECREASED $724 MILLION, OR 7%, TO $9.0 BILLION

* BANK OF AMERICA SAYS Q4-17 NET CHARGE-OFFS ROSE TO $1.2 BILLION FROM $880 MILLION

* BANK OF AMERICA SAYS Q4-17 PROVISION FOR CREDIT LOSSES ROSE TO $1.0 BILLION FROM $774 MILLION

* QTRLY NONINTEREST EXPENSE DECLINED $139 MILLION, OR 1%, TO $13.3 BILLION‍​

* BANK OF AMERICA - “CLIENT ACTIVITY WAS STRONG ACROSS ALL OF OUR BUSINESSES IN 2017”

* QTRLY ESTIMATED CET1 RATIO UNDER BASEL 3 STANDARDIZED APPROACH ON FULLY PHASED-IN BASIS 11.7 PERCENT VERSUS 12.2 PERCENT IN Q3

* EXCLUDING TAX ACT IMPACT, Q4 SHR $0.47

* Q4 EARNINGS PER SHARE VIEW $0.44, REVENUE VIEW $21.53 BILLION -- THOMSON REUTERS I/B/E/S

* - Q4-17 RESULTS INCLUDED A $379 MILLION TAX BENEFIT FROM THE RESTRUCTURING OF CERTAIN SUBSIDIARIES

* BANK OF AMERICA - EXCLUDING NET DVA, SALES AND TRADING REVENUE DECLINED 9 PERCENT TO $2.7 BILLION IN QUARTER

* BANK OF AMERICA - QTRLY FIXED INCOME, CURRENCIES AND COMMODITIES REVENUE FELL 13 PERCENT, DUE TO LOWER VOLATILITY & CLIENT ACTIVITY ACROSS MACRO PRODUCTS

* BANK OF AMERICA - QTRLY EQUITIES REVENUE WAS FLAT, AS GROWTH IN CLIENT FINANCING ACTIVITIES WAS OFFSET BY A DECLINE IN CASH AND DERIVATIVES TRADING Source text: (bit.ly/2DeKFE3) Further company coverage:

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