Sunday 30, January 2011 by

Net loss of $1.2 billion for Bank of America

Bank of America has reported a net loss of $1.2 billion, or $0.16 per diluted share, for the fourth quarter of 2010, including the previously announced goodwill impairment charge of $2 billion in the Home Loans and Insurance segment. Excluding the goodwill impairment charge, the company earned $756 million, or $0.04 per share, excluding the goodwill impairment charge from certain financial measures represents a non-GAAP measure.

Features & Analyses

Commercial Banking Banking—creatively disrupted

Sanjeev Kumar, Group CEO, M Holdings Limited, discusses how Bank M became a top bank in Tanzania and why it is now taking its offering… read more