April 18 (Reuters) - Bank of America Corp's profit rose in the first quarter as it earned more from
customers' interest payments while the Federal Reserve raised
borrowing costs.
The company's net income applicable to common shareholders
rose to $7.66 billion, or 94 cents per share, for the three
months ended March 31, the second-largest U.S. lender reported
on Tuesday. That compares with $6.6 billion, or 80 cents per
share, a year earlier.
(Reporting by Manya Saini and Niket Nishant in Bengaluru and
Saeed Azhar in New York; Additional reporting by Siddarth S;
Editing by Lananh Nguyen and Shounak Dasgupta)
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