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Bank of America quarterly profit increases 58% on higher interest income

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The profit of Bank of America Corp. in the third quarter rose 58%, suggesting that banks’ lending activities are starting to improve after a pandemic crisis.

America’s second-largest bank earned $ 7.69 billion, up from $ 4.88 billion a year earlier. Earnings per share of 85 cents exceeded the 71 cents expected by analysts polled by FactSet.

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