NEW YORK (Bloomberg) - Bank of America Corp., the nation's second-biggest bank, expects writedowns to increase and "weak" earnings through the first quarter of next year.

"You certainly can assume results will again be quite disappointing," said CEO Kenneth Lewis in a presentation to investors in New York yesterday.

"At this point, the final writedowns of CDOs (collateralised debt obligation) are unknowable, but we expect to be profitable in the fourth quarter."