Earnings of BankAmerica Corp., parent of the world's largest commercial bank, rose 11.2 per cent last year to $336.8 million, it was reported yesterday.
BankAmerica, which owns the Bank of America, earned $302.8 million in 1975.
Per-share earnings were $2.41 last year, up 10 per cent from $2.19 in 1975. The net earnings reflect last year's 2-for-1 stock split.
President A.W. Clausen attributed the increase in earnings to higher leasing revenues, a lower loan loss provision and good cost control.
Inland Steel Co.'s profits increased by 25 per cent last year, the firm reported.
During 1976, earnings were $104 million, or $5.20 a share, compared with $83.3 million, or $4.43 a share, the previous year.
While earnings showed a big improvement, they fell short of the record $148 million posted in 1974.
Chairman Frederick G. Jaicks said the high profit level in 1976 was partly the result of strong recoveries in the automotive and appliance industries.
Sales in 1976 totaled $2.39 billion, a 13 per cent increase over the $2.11 billion the previous year.
Amstar Corp., the country's biggest sugar producer, had lower earnings of $1.13 in its second fiscal quarter ended Dec. 31 compared with $1.45 a year earlier.
Net income was $10.27 million on revenues of $224.89 million compared with $12.2 million a year ago on revenues of $243.79 million.
For the first half, Amstar earned $20.24 million, or $2.23 a share, on revenues of $496.89 million compared with $25.25 million, or $3.02 a share a year earlier on revenues of 600-93 million.
The company attributed the lower earnings to the decline in sugar prices. Cane sugar operations rebounded in the second quarter but the spreckles beet sugar operations continued to be weak.
Amstar's industrial diversification has begun to pay off, president Robert Quittmeyer said. Industrial producers provided 14.8 per cent of net income in the half compared with 11.8 per cent a year earlier.