The second-largest U.S. bank by assets reported a loss of $6.2 billion which is 73 cents per dilutive share, as compared
to $9.2 billion which is $1.03 per share, in the same time frame a year earlier. The economists interviewed by
Refinitiv were anticipating profits at 75 cents per share. The quarter's revenue free of interest expenses, increased
by 6percent up to $22.7 billion, exceeding Wall Street expectations of $22.6 billion. Net interest income
increased 22 percent to $12.4 billion due to higher rates of interest, lower premium amortization and the growth
of loans. Non-interest income declined 9percent in the range of $10.2 billion, which is mainly due to the weaker
financial markets. The bank took a 523 million reserve for losses to credit which included the net reserve in the
amount of 48 million. Non-interest costs increased by 2.2% to $15.3 billion, and comprised of $425 million that
were recognized for certain regulations. The consumer banking division posted net earnings of $2.9 billion, based
on revenues that was $9.1 billion. The record average for deposits increased to over $1 trillion. The total debit.