Bank of America takes $84 million hit from toxic energy loan

- By Alessandro Aimone
- @aimoneale
- 16 Apr 2019

Bank of America swallowed an $84 million loss in the first quarter after writing off an exposure to a large energy company.

The troubled account pushed both net charge-offs and provisions for credit losses (PCL) higher on the quarter and year-on-year.

Net charge-offs in the commercial loan portfolio hit $156 million, up from $120 million at end-2018 and $81 million the year-ago quarter.

PCLs

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info@risk.net to find out more.

You are currently unable to copy this content. Please contact info@risk.net to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@risk.net