Bank of America's ( BAC) profit surged 47% in the fourth quarter, helped by higher credit card income and deposits.

The Charlotte, N.C.-based lender made $5.26 billion, or $1.16 a share, up from $3.57 billion, or 88 cents a share, a year earlier. Revenue rose 34% to $18.4 billion.

The earnings included charges totaling $244 million, or 3 cents a share, related to merger and restructuring.

Analysts predicted earnings of $1.18 a share, before charges, on $18.1 billion revenue, according to Thomson Financial.

BofA said earnings were driven by growth in card income, particularly from the acquisition of MBNA; service charges from deposit accounts; and "strong growth" in capital markets and investment banking, reflecting recent investments in those areas.

But the bank also said it recorded higher credit costs, in part because of last year's MBNA acquisition.

"Bank of America had another strong year in 2006," said Ken Lewis, BofA's chairman and CEO, in a statement. "Our associates are proving that when you combine listening to customers to understand their needs with our advantages of scale, innovation and execution, it creates a powerful value proposition that wins in the marketplace."

Shares rose 45 cents to $54.10 in premarket trading.

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