Bank of America, the second-largest U.S. bank by assets, reported a 14 percent fall in quarterly profit as revenue from fixed-income trading fell.
Bond trading revenue plunged 21 percent to $1.5 billion.
BofA, like much of Wall Street, was hit by a sharp spike in market volatility in December that discouraged many investors from taking positions.
JPMorgan Chase reported a decline of 14 percent in quarterly bond trading revenue on Wednesday.
Total revenue fell 13 percent to $18.73 billion, excluding accounting adjustments.
BofA's shares were down nearly 3 percent in premarket trading on Thursday. (Get the latest quote here.)
Net income attributable to common shareholders fell to $2.74 billion, or 25 cents per share, in the fourth quarter from $3.18 billion, or 29 cents per share, a year earlier.
The bank had adjusted earnings of 32 cents per share, according to calculations by Thomson Reuters I/B/E/S.