Bank of America's Profits Lifted by Tax Law, Rising Interest Rates

Bank of America's Profits Lifted by Tax Law, Rising Interest Rates


Bank of America Corp. said Monday that a boost from the U.S. tax law and continued rising interest rates helped push first-quarter profit higher, extending the string of better-than-expected results from the nation’s biggest banks.

Quarterly profit at the Charlotte, N.C.-based bank was $6.92 billion, compared with $5.34 billion a year ago. Per-share earnings were 62 cents; analysts had expected 59 cents per share.

First-quarter…



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