{
  "id": 14445519,
  "title": "Bank of America misses profit estimates on capital market weakness; books US$1.2 billion charge",
  "url": "https://urgent.news/2026/10/14/bank-of-america-misses-profit-estimates-on-capital-market-weakness",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T12:18:05.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-america-misses-profit-estimates-capital-market-weakness-books-us1-2-billion-charge"
  },
  "original_language": "en",
  "account": null,
  "summary": "Bank of America reported a decline in third-quarter profit, missing estimates due to weakness in its capital markets business. The bank disclosed a US$1.2 billion charge related to a regulatory penalty for failing to report over US$5 billion in suspicious activity to the US government. Shares of BofA fell 4.2 per cent in premarket trading, adding to a 1.9 per cent decline this year. The capital markets momentum has slowed down after a strong first half of the year, with bond market selloffs driving yields to multi-decade highs. BofA's sales and trading revenue fell 5 per cent to US$5.1 billion, while investment banking fees dropped 11 per cent to US$1.8 billion. The bank's profit for the quarter was US$6.9 billion, or 91 cents per share, compared to US$8.3 billion, or US$1.04 per share, a year earlier.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "CNBC Technology",
        "title": "Inflation data, Bank of America's penalty, Apple's new home hub and more in Morning Squawk",
        "url": "https://urgent.news/2026/10/14/inflation-data-bank-of-americas-penalty-apples-new-home-hub-and-more",
        "published": "2026-10-14T12:45:09.000Z"
      },
      {
        "outlet": "Gulf Times Business",
        "title": "Lesha Bank, ChinaAMC Sign MoU to enhance cooperation in investment, capital markets",
        "url": "https://urgent.news/2026/10/14/lesha-bank-chinaamc-sign-mou-to-enhance-cooperation-in-investment",
        "published": "2026-10-14T13:35:00.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Earnings call transcript: Bank of America Q3 2026 misses estimates as stock falls",
        "url": "https://urgent.news/2026/10/14/earnings-call-transcript-bank-of-america-q3-2026-misses-estimates-as",
        "published": "2026-10-14T14:10:39.000Z"
      },
      {
        "outlet": "Fast Company",
        "title": "Bank of America stock falls in the wake of a historic $1.2 billion fine after it failed to report financial crime",
        "url": "https://urgent.news/2026/10/14/bank-of-america-stock-falls-in-the-wake-of-a-historic-1-2-billion",
        "published": "2026-10-14T14:22:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}