The nation’s No. 2 bank, Bank of America Corp., said Wednesday its profits rose 11%, thanks to more consumer lending, more credit card sales and more fees.

First-quarter income zipped to $2.68 billion from $2.42 billion, a 34 cent per share uptick to $1.83.

Charlotte, N.C.-based Bank of America did not include results of its April 1 purchase of FleetBoston Financial , though it did include a self-imposed, 16 cents-per-share charge stemming from its improper trading allegations.

Combined, BoA and Fleet, the two new partners, settled to pay $515 million in charges to regulators and $160 million in fees for their participation in the mutual fund scandal.

In a statement, Fleet CEO Keith Lewis called his company’s progress "ahead of schedule."

Lending was up 11% for the month, while consumer and commercial banking profit climbed 16%.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.