Before the US stock market on Wednesday,Bank of AmericaFinancial results for the third quarter were announced.

According to the data, net revenue for the third quarter was 22.8 billion US dollars, compared to 20.3 billion US dollars in the same period last year, an increase of 12% over the previous year.

Net interest income for the third quarter was $11.1 billion, up 10% year over year. Non-interest income was $11.7 billion, up 14% year over year.

As asset quality improved this quarter, $1.1 billion in credit loss reserves were released during the quarter. The net bad debt cancellation rate is close to a 50-year history low.

Net profit for the third quarter was 7.7 billion US dollars, compared to 4.9 billion US dollars in the same period last year, an increase of 58% over the previous year. Earnings per diluted share were $0.85 compared to $0.51 in the same period last year.

The business sector's average loan and lease balance in the third quarter increased $14 billion month-on-month to $903 billion, but increased by $1.8 billion quarter-on-quarter. Excluding the Paycheck Protection Program (Paycheck Protection Program), loan balances increased by $21 billion month-on-month.

Average deposits increased by US$247 billion to US$1.9 trillion, an increase of 15%.

The common stock tier 1 capital ratio (CET1) reached 11.1%.

As of press release, the stock is up nearly 3% before the market.