NEW YORK - BANK of America on Monday said it had net profit of US$4.2 billion (S$6.3 billion) in the first quarter, nearly triple that of a year ago, on record revenue of $36 billion.

The robust earnings were boosted by Bank of America's acquisition of Wall Street investment bank Merrill Lynch, which contributed more than $3 billion to the government-rescued bank's bottom line.

Bank of America, the largest US bank by assets, said it had paid $402 million in dividends to the US government. -- AFP