Bank of America profits rise despite charges

Bank of America today said first-quarter net income rose 11%, helped by growth in consumer lending, credit cards, investment and brokerage fees.

The financial giant said net profit rose to $2.68bn (€2.24bn) from $2.42bn (€2.03bn), and that revenue rose 7% to $9.69bn (€8.13bn) compared to the first three months of last year.