NEW YORK ( Trefis) -- Bank of America (BAC) reported one of its better quarterly performances since the economic recession of 2008, with second-quarter earnings of just under $2.5 billion for the period.
An improving credit environment combined with the bank's focused efforts on cutting down costs helped offset lower revenue from the overall slowdown in global markets the last three months.
Investors, however, raised the red flag yet again over the bank's troubled mortgage portfolio, leading to a decline of more than 11% in Bank of America's share price within days of its earnings announcement.
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