Bank of America
Bank of America was founded in 1904 and is headquartered in Charlotte, US
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Key People/Management at Bank of America
Brian Moynihan
Chairman of the Board, Chief Executive Officer
Dean Athanasia
President, Preferred and Small Business Co-Head, Consumer
Catherine Bessant
Chief Operations and Technology Officer
Sheri Bronstein
Global Human Resources Executive
Paul Donofrio
CFO
Anne Finucane
Vice Chairman
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Bank of America Office Locations
Bank of America has offices in Shelton, Charleston, Gaithersburg, Oxnard and in 280 other locations
Charlotte, US (HQ)
100 N Tryon St
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Bank of America Financials and Metrics
Bank of America Financials
Bank of America's revenue was reported to be $100.26 b in FY, 2017 which is a 7% increase from the previous period.
| USD | |
|---|---|
Revenue (Q1, 2018) | 27.1 b |
Gross profit (Q1, 2018) | 23.1 b |
Gross profit margin (Q1, 2018), % | 85.3% |
Net income (Q1, 2018) | 6.9 b |
Market capitalization (22-Jun-2018) | 293.9 b |
Closing share price (22-Jun-2018) | 29 |
Cash (31-Mar-2018) | 204.2 b |
EV | 360 b |
Bank of America's current market capitalization is $293.9 b.
Annual
Quarterly
| USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 25.4 b | 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 | 26 b | 25.3 b | 27.1 b |
Cost of goods sold | 2.9 b | 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 | 3.2 b | 3.5 b | 4 b |
Gross profit | 22.6 b | 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 | 22.8 b | 21.8 b | 23.1 b |
Gross profit Margin, % | 89% | 88% | 89% | 89% | 89% | 89% | 89% | 89% | 90% | 89% | 88% | 86% | 85% |
Annual
| USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|
Cash | 138.6 b | 159.4 b | 147.7 b | 157.4 b |
PP&E | 10 b | 9.5 b | 9.1 b | 9.2 b |
Goodwill | 69.8 b | 69.8 b | 69 b | 69 b |
Total Assets | 2.1 t | 2.1 t | 2.2 t | 2.3 t |
Quarterly
| USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | 152 b | 153 b | 129 b | 163 b | 164 b | 170 b | 180 b | 171 b | 143 b | 168 b | 159 b | 172.4 b | 204.2 b |
PP&E | 10.4 b | 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 | 8.9 b | 9 b | 9.4 b |
Goodwill | 69.8 b | 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 | 69 b | 69 b | 69 b |
Total Assets | 2.2 t | 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 | 2.3 t | 2.3 t | 2.3 t |
Annual
| USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
|---|---|---|---|---|
Net Income | 4.8 b | 15.9 b | 17.9 b | 18.2 b |
Depreciation and Amortization | 2.5 b | 2.4 b | 2.2 b | 2.1 b |
Cash From Operating Activities | 26.7 b | 27.7 b | 18.3 b | 10.4 b |
Cash From Investing Activities | (4.2 b) | (55 b) | (63.1 b) | (52 b) |
Quarterly
| USD | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Income | (276 m) | 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 | 10.1 b | 15.7 b | 6.9 b |
Depreciation and Amortization | 629 m | 1.3 b | 1.9 b | 608 m | 1.2 b | 1.8 b | 566 m | 1.5 b | 1.7 b | 534 m | 1.1 b | 1.9 b | |
Cash From Operating Activities | 22.7 b | 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) | (3 b) | 17.5 b | 40.4 b |
Cash From Investing Activities | (29.4 b) | (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) | (24.2 b) | (40 b) | (22.8 b) |
| USD | Y, 2018 |
|---|---|
EV/CFO | 8.9 x |
Debt/Equity | 1 x |
Debt/Assets | 0.1 x |
Financial Leverage | 8.7 x |
Bank of America Operating Metrics
Bank of America's Total Loans was reported to be $934.1b in Q1, 2018.
| FY, 2012 | FY, 2013 | FY, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | FY, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | FY, 2017 | Q1, 2018 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mobile Banking Users | 14.40 m | 16.54 m | 18.71 m | 19.60 m | 20.23 m | 21.31 m | 21.65 m | 22.22 m | 22.90 m | 23.57 m | 24.24 m | 24.80 m | ||||
Total Loans | $898.77 b | $918.64 b | $898.70 b | $867.17 b | $876.18 b | $877.43 b | $876.79 b | $892.98 b | $899.67 b | $900.59 b | $900.43 b | $914.14 b | $914.72 b | $918.13 b | $936.75 b | $934.08 b |
Non-performing Loans | $23.56 b | $17.77 b | $12.63 b | $12.10 b | $11.57 b | $10.34 b | $9.84 b | $9.28 b | $8.80 b | $8.74 b | $8.08 b | $7.64 b | $7.13 b | $6.87 b | $6.76 b | $6.69 b |
Countries | 35 | 35 | 35 |
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 | |
| BAC Canada Finance Company | ||
| BAC North America Holding Company | ||
| BA Continuum Costa Rica | ||
| BA Continuum India Private Limited | ||
| BA Continuum Singapore International Holdings Private Limited | ||
| BA Credit Card Funding |
Bank of America Revenue Breakdown
Bank of America revenue breakdown by business segment: 17.9% from Global Markets, 22.5% from Global Banking, 20.9% from Global Wealth & Investment Management and 38.8% from Consumer Banking
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Bank of America Online and Social Media Presence
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Bank of America News and Updates
June 21, 2018
Bank of America Executive: Why ‘Failing Fast, Often’ Doesn’t Always Apply
“We’re in the business of other people’s money,” said Cathy Bessant, COO & CTO of Bank of America. It’s for this reason that the company pursues incremental, well-executed innovation rather than the “fail fast, often” model employed by much of Silicon …
June 15, 2018
Bank of America picks ex Macron adviser Mourad to run investment banking for France - sources
LONDON/PARIS, June 15 (Reuters) - Bank of America
has hired Morgan Stanley veteran Bernard Mourad, who recently
worked as an adviser to French President Emmanuel Macron, as its
new head of corporate and investment banking for France, three
sources familiar with the matter told Reuters.
June 12, 2018
U.S. SEC charges Bank of America subsidiary $15mln for RMBS trader lapses
WASHINGTON, June 12 (Reuters) - The Securities and Exchange
Commission on Tuesday said Bank of America subsidiary Merrill
Lynch, Pierce, Fenner & Smith Inc. will pay $15 million to
settle charges that staff misled clients into overpaying for
Residential Mortgage Backed Securities (RMBS).
June 12, 2018
Bank of America executive sees consumer unit's efficiency ratio flat to down
(Reuters) - Bank of America Corp's co-head of consumer and business banking said on Tuesday he expects the consumer banking unit's efficiency ratio to remain flat or improve further as it cuts more costs tied to moving physical checks and cash.
June 12, 2018
Bank of America exec sees consumer unit's efficiency ratio flat to down
June 12 (Reuters) - Bank of America Corp's co-head
of consumer and business banking said on Tuesday he expects the
consumer banking unit's efficiency ratio to remain flat or
improve further as it cuts more costs tied to moving physical
checks and cash.
June 07, 2018
Bank of America raises planned Paris job moves before Brexit: sources
LONDON (Reuters) - Bank of America is looking to move more jobs than originally envisaged to its new Paris office, in what is expected to be one of the biggest such shifts from London ahead of Brexit, two sources familiar with the matter said.
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