Merrill Lynch, the wealth management division of Bank of America, has reported net earnings of US$967 million for the second quarter of 2013, a 2.1% decrease compared to US$988 million for the same period previous year.
The firm’s revenue was US$6.61 billion for the quarter, an increase of 9% compared to US6.06 billion for the same period last year.
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At 30 June 2013, the total assets stood at US$572.9 billion, compared to US$602.9 billion for the period ended 31 December 2012.
For the six months ended 30 June 2013, Merrill Lynch has reported net earnings of US$760 million, compared to net loss of US$618 million for the corresponding period a year ago.
The company’s year-to-date revenue was increased by 17.7% to US$12.76 billion, compared to US$10.84 billion for the same period last year.
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