India, Oct. 14 -- Shares of Bank of America Corp. were losing around 6 percent in the pre-market activity on the NYSE after the banking major reported Wednesday lower third-quarter earnings, hurt by a $1.2 billion fine imposed by the U.S. Department of the Treasury on anti-money laundering issues.
Revenues, however, increased with higher net interest income and growth in consumer Banking as well as Global Wealth and Investment Management revenues.
Chair and CEO Brian Moynihan, stated, "The team delivered organic growth, deepening client relationships and adding new ones. While investment banking and sales and trading revenues were lower, commercial lending grew in every client segment. Our momentum, reflected in growth in client deposits,...