Bank of America, the second largest US bank by assets, fell by 19.4 percent in profit for the second quarter, pressured by higher provisions for credit losses and lower gains from loans.
Net income attributable to holders of common shares of the bank fell 3.87 billion, or $ 0.36 a share, from 4.80 billion, or $ 0.43 per paper, a year earlier.
Provisions for loan losses rose 25 percent to 976 million and net interest income fell 12 percent to 9.2 billion dollars.
Analysts on average expected profit of $ 0.33 per share, according to Thomson Reuters I / B / E / S. It was not immediately clear whether the figures are comparable.
The market had expected Bank of America, led by Chief Executive Brian Moynihan, presented one of the worst results in the sector in the quarter, partly because of its large exposure to the energy industry.
Of the other major US banks that have released results of the second quarter, earnings from JPMorgan fell 1.6 percent, Citigroup fell 14 percent and Wells Fargo 3.5 percent.
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