Bank of America profit tops estimates on growing loan book
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(Reuters) - Bank of America Corp reported a better-than-expected rise in quarterly profit on Tuesday, as a growing loan book and cost cuts made up for a drop in revenue in investment banking.The second-biggest U.S. bank benefited from 3 percent growth in consumer loans and 4 percent growth in loans to businesses in the first quarter, allowing it to capture more revenue from higher U.S. interest rates. Revenue rose in two of the lender's four main businesses.The bank has benefited from the..