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Cost Cuts Boost BofA's Profit

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Cost Cuts Boost BofA's Profit
AIRED:
Bank of America did what the other three biggest lenders have done: posting double-digit gains in income that easily beat analysts forecasts. Helping pump up profits: cost cutting and big increases in investment banking revenue and net interest income. The bank sees costs related to bad mortgages and foreclosures coming down faster than it had previously predicted. And it set aside less money for potentially bad loans.moreless
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