Bank of America Corporation is a multinational banking and financial services corporation. It has four divisions: Consumer Banking, Global Banking, Global Wealth and Investment Management and Global Markets.
Consumer Banking, the largest division in the company, provides financial services to consumers and small businesses including, banking, investments and lending products including business loans, mortgages, and credit cards. It provides for investing online through its electronic trading platform, Merrill Edge.
The Global Banking division provides banking services, including investment banking and lending products to businesses. It includes the businesses of global corporate banking, global commercial banking, business banking, and global investment banking.
The Global Wealth and Investment Management (GWIM) division manages investment assets of institutions and individuals. GWIM has five primary lines of business: premier banking and investments (including Bank of America Investment Services, Inc.), The Private Bank, Family Wealth Advisors, and Bank of America Specialist.
The Global Markets division offers services to institutional clients, including trading in financial securities. The division provides research and other services such as market maker and risk management using derivatives.
Consumer Banking, the largest division in the company, provides financial services to consumers and small businesses including, banking, investments and lending products including business loans, mortgages, and credit cards. It provides for investing online through its electronic trading platform, Merrill Edge.
The Global Banking division provides banking services, including investment banking and lending products to businesses. It includes the businesses of global corporate banking, global commercial banking, business banking, and global investment banking.
The Global Wealth and Investment Management (GWIM) division manages investment assets of institutions and individuals. GWIM has five primary lines of business: premier banking and investments (including Bank of America Investment Services, Inc.), The Private Bank, Family Wealth Advisors, and Bank of America Specialist.
The Global Markets division offers services to institutional clients, including trading in financial securities. The division provides research and other services such as market maker and risk management using derivatives.
Company Growth (employees)
Bank of America was founded in 1904 and is headquartered in Charlotte, US
Key People at Bank of America
Brian Moynihan
Chairman of the Board & Chief Executive Officer
Paul Donofrio
Chief Financial Officer
Thomas Montag
Chief Operating Officer
Anne Finucane
Vice Chairman
David Leitch
Global General Counsel
Andrea Smith
Global Head of Human Resources
Thong Nguyen
President of Retail Banking & Co-head of Consumer Banking
Sheri Bronstein
Global Human Resources Executive
Geoffrey Greener
Chief Risk Officer
Christine Katziff
Corporate General Auditor
Terry Laughlin
Vice Chairman
Dean Athanasia
President
Catherine Bessant
Chief Operations and Technology Officer
Bruce Thompson
Vice Chairman
Bank of America Office Locations
Bank of America has offices in Charlotte, Buenos Aires, Sydney, Nassau and in 268 other locations
Charlotte, US (HQ)
100 N Tryon St
Charlotte, US (HQ)
100 North Tryon Street
Bank of America Data and Metrics
Bank of America Financial Metrics
Bank of America's revenue was reported to be $24.9 b in Q1, 2017
USD
Revenue (Q1, 2017) | 24.9 b |
Gross profit (Q1, 2017) | 22.2 b |
Gross profit margin (Q1, 2017), % | 89% |
Net income (Q1, 2017) | 4.9 b |
EBIT (Q1, 2017) | 11.1 b |
Market capitalization (25-Jul-2017) | 267.2 b |
Cash (31-Mar-2017) | 168 b |
Bank of America's current market capitalization is $267.2 b.
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Revenue | 101.7 b | 95.2 b | 93.1 b | 93.7 b |
Revenue growth, % | (6%) | (2%) | 1% | |
Cost of goods sold | 12.8 b | 10.9 b | 10.5 b | 10 b |
Gross profit | 88.9 b | 84.2 b | 82.5 b | 83.7 b |
Gross profit Margin, % | 87% | 89% | 89% | 89% |
Sales and marketing expense | 1.7 b | |||
R&D expense | 3 b | |||
Operating expense total | 69.2 b | 75.1 b | 57.2 b | 55 b |
EBIT | 42.3 b | 40 b | 39.3 b | 41.1 b |
EBIT margin, % | 42% | 42% | 42% | 44% |
Interest income | 39.3 b | 41.1 b | ||
Pre tax profit | 16.2 b | 6.9 b | 22.2 b | 25.2 b |
Income tax expense | 4.7 b | 2 b | 6.3 b | 7.2 b |
Net Income | 11.4 b | 4.8 b | 15.9 b | 17.9 b |
| USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | 24.7 b | 23.8 b | 23.7 b | 24.8 b | 23.2 b | 22 b | 22.9 b | 24 b | 24.9 b |
Cost of goods sold | 2.9 b | 2.6 b | 2.5 b | 2.6 b | 2.5 b | 2.5 b | 2.5 b | 2.4 b | 2.7 b |
Gross profit | 21.7 b | 21.2 b | 21.2 b | 22.1 b | 20.7 b | 19.5 b | 20.4 b | 21.6 b | 22.2 b |
Gross profit Margin, % | 88% | 89% | 89% | 89% | 89% | 89% | 89% | 90% | 89% |
Sales and marketing expense | 450 m | 446 m | 440 m | 445 m | 445 m | 419 m | 414 m | 410 m | 332 m |
R&D expense | 761 m | 754 m | 852 m | 715 m | 731 m | 838 m | 717 m | 685 m | 794 m |
Operating expense total | 1.2 b | 1.2 b | 1.3 b | 1.2 b | 1.2 b | 1.3 b | 1.1 b | 1.1 b | 1.1 b |
EBIT | 10 b | 10.2 b | 9.5 b | 10.5 b | 9.5 b | 9.2 b | 9.2 b | 10.2 b | 11.1 b |
EBIT margin, % | 41% | 43% | 40% | 42% | 41% | 42% | 40% | 42% | 44% |
Pre tax profit | 2.8 b | 431 m | 4.7 b | 7.5 b | 6.1 b | 3.7 b | 5.9 b | 7.3 b | 6.6 b |
Income tax expense | 504 m | 663 m | 1.4 b | 2.2 b | 1.6 b | 1 b | 1.7 b | 2.3 b | 1.7 b |
Net Income | 2 b | 1.8 b | 3.4 b | 8.7 b | 13.2 b | 2.7 b | 6.9 b | 13.2 b | 4.9 b |
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Cash | 131.3 b | 138.6 b | 159.4 b | 147.7 b |
PP&E | 10.5 b | 10 b | 9.5 b | 9.1 b |
Goodwill | 69.8 b | 69.8 b | 69.8 b | 69 b |
Total Assets | 2.1 t | 2.1 t | 2.1 t | 2.2 t |
Accounts Payable | 398 k | |||
Total Debt | 295.7 b | 274.3 b | 264.9 b | 240.8 b |
Total Liabilities | 1.9 t | |||
Retained Earnings | 72.5 b | 75 b | 88.6 b | 101.9 b |
Total Equity | 256.2 b | 266.8 b | ||
Debt to Equity Ratio | 1 x | 0.9 x | ||
Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x |
Financial Leverage | 8.4 x | 8.2 x |
| USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|---|---|---|
Cash | 153 b | 129 b | 163 b | 164 b | 170 b | 180 b | 171 b | 143 b | 168 b |
PP&E | 10.1 b | 10 b | 9.8 b | 9.7 b | 9.6 b | 9.4 b | 9.2 b | 9.1 b | 9.3 b |
Goodwill | 69.8 b | 69.8 b | 69.8 b | 69.8 b | 69.8 b | 69.8 b | 69.7 b | 69.7 b | 69 b |
Total Assets | 2.2 t | 2.1 t | 2.1 t | 2.2 t | 2.2 t | 2.2 t | 2.2 t | 2.2 t | 2.3 t |
Accounts Payable | 1.1 t | 1.1 t | 1.2 t | 1.2 t | 1.2 t | 1.2 t | 1.2 t | 1.2 t | 1.3 t |
Retained Earnings | 73.8 b | 72.8 b | 77.5 b | 81.9 b | 85.5 b | 90.3 b | 93.6 b | 98.3 b | 105 b |
Total Equity | 237 b | 239 b | 250 b | 252 b | 256 b | 263 b | 267 b | 270 b | 268 b |
Financial Leverage | 9.2 x | 8.9 x | 8.6 x | 8.5 x | 8.4 x | 8.3 x | 8.2 x | 8.1 x | 8.4 x |
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Net Income | 11.4 b | 4.8 b | 15.9 b | 17.9 b |
Depreciation and Amortization | 730 m | |||
Cash From Operating Activities | 92.8 b | 26.7 b | 27.7 b | 18.3 b |
Cash From Investing Activities | 25.1 b | (4.2 b) | (55 b) | (63.1 b) |
Dividends Paid | (1.7 b) | (2.3 b) | (3.6 b) | (4.2 b) |
Cash From Financing Activities | (95.4 b) | (12.2 b) | 48.6 b | 33 b |
Interest Paid | 12.9 b | 11.1 b | 10.6 b | 10.5 b |
Income Taxes Paid | 1.6 b | 2.6 b | 2.3 b | 1.6 b |
| USD | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 |
|---|---|---|---|---|---|---|---|---|---|
Net Income | 2 b | 1.8 b | 3.4 b | 8.7 b | 13.2 b | 2.7 b | 6.9 b | 13.2 b | 4.9 b |
Depreciation and Amortization | 235 m | 234 m | 213 m | 212 m | 207 m | 187 m | 186 m | 181 m | 162 m |
Cash From Operating Activities | 27.5 b | 27.1 b | (4.7 b) | (12.6 b) | 22.3 b | 10.8 b | 26.1 b | 26.7 b | (12.8 b) |
Cash From Investing Activities | (43.8 b) | (31.9 b) | (8.6 b) | (18.4 b) | (32.3 b) | (21.4 b) | (30.5 b) | (63 b) | (14 b) |
Dividends Paid | (704 m) | (1.5 b) | (846 m) | (1.8 b) | (2.7 b) | (974 m) | (1.9 b) | (3 b) | (1.3 b) |
Cash From Financing Activities | 37.7 b | 3.5 b | 38.5 b | 56.3 b | 42.4 b | 29.4 b | 14 b | 17.8 b | 46.3 b |
| USD | Y, 2017 |
|---|---|
Revenue/Employee | 119.7 k |
Financial Leverage | 8.4 x |
Bank of America Operating Metrics
Bank of America Acquisitions / Subsidiaries
| Acquired Company | Date | Deal Size |
|---|---|---|
| Merrill Lynch | January 01, 2009 | |
| Countrywide Financial Corporation | July 01, 2008 | |
| MBNA | July 30, 2005 | |
| National Processing | July 13, 2004 |
Bank of America Market Value History
Bank of America Job Categories
Bank of America Median Salaries
Source: 116 public H-1B filings from Bank of America
