Bank of America made a $4.6 billion profit between April 1, 2015 and June 30, 2015. Investors are finally getting a glimpse of what Bank of America’s profit engine looks like without lawyer fees, judgments, and settlements clouding the picture. This time last year, in contrast, Bank of America only provided a $2 billion profit after all expenses were taken into consideration.
The company’s Common Equity Tier 1 Capital Ratio remained at 10.3%, unchanged over the past few quarters. This will likely put Bank of America on the path to meaningful dividend growth in the years ahead, as it’s finally past the point of having to use profits to shore up the capital base.