Bank of America quarterly profit falls 4%

Bank of America Corp posted a 4.1% fall in quarterly profit on Wednesday, as lower interest rates crimped the second-biggest U.S. lender's ability to earn more from loans.

Net income applicable to common shareholders fell to $6.75 billion, or 74 cents per share, in the fourth quarter ended Dec 31 from $7.04 billion, or 70 cents per share, a year earlier.

Revenue, net of interest expense, fell slightly to $22.35 billion.