Strong loan growth in the fourth quarter and a return to "basic banking" helped BankAmerica Corp. increase its 1994 net income by 11% over 1993's, to $2.1 billion.

The bank said Wednesday that net income for the fourth quarter rose to $591 million, compared with $496 million in the same period of 1993. The showing was up over this year's third quarter as well, by 8%.

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