UPDATE 3-Bank of America gives dour economic outlook, profit falls
Bank of America Corp reported a
48.5% drop in first-quarter net income on Wednesday, warning
that it anticipated a recession because of the novel coronavirus
and setting aside an additional $3.6 billion to cover potential
losses.
48.5% drop in first-quarter net income on Wednesday, warning
that it anticipated a recession because of the novel coronavirus
and setting aside an additional $3.6 billion to cover potential
losses.
Posted by Reuters
