Bank of America posts $1.2bn loss in Q4

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Bank of America posts $1.2bn loss in Q4

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01-22-2011, 02:25 AM

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Bank of America posts $1.2bn loss in Q4

The Bank of America has today reported its second consecutive quarterly loss – primarily due to the writedown of its mortgage business, Countrywide. The bank, which is the largest in the US by assets, today disappointed analysts with a fourth quarter net loss of $1.24 billion (£775 million), compared with a $5.2 billion loss a [...]

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