Bank of America

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.

Company Growth (employees)
Type
Public
HQ
Charlotte, US
Founded
1904
Size (employees)
208,000 (est)
Bank of America was founded in 1904 and is headquartered in Charlotte, US

Key People at Bank of America

Brian Moynihan

Brian Moynihan

Chairman of the Board & Chief Executive Officer
Paul Donofrio

Paul Donofrio

Chief Financial Officer
Thomas Montag

Thomas Montag

Chief Operating Officer
Anne Finucane

Anne Finucane

Vice Chairman
David Leitch

David Leitch

Global General Counsel
Andrea Smith

Andrea Smith

Global Head of Human Resources
Thong Nguyen

Thong Nguyen

President of Retail Banking & Co-head of Consumer Banking
Sheri Bronstein

Sheri Bronstein

Global Human Resources Executive
Geoffrey Greener

Geoffrey Greener

Chief Risk Officer
Christine Katziff

Christine Katziff

Corporate General Auditor
Terry Laughlin

Terry Laughlin

Vice Chairman
Dean Athanasia

Dean Athanasia

President
Catherine Bessant

Catherine Bessant

Chief Operations and Technology Officer
Bruce Thompson

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
Show all (273)

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.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

101.7 b95.2 b93.1 b93.7 b

Revenue growth, %

(6%)(2%)1%

Cost of goods sold

12.8 b10.9 b10.5 b10 b

Gross profit

88.9 b84.2 b82.5 b83.7 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 b75.1 b57.2 b55 b

EBIT

42.3 b40 b39.3 b41.1 b

EBIT margin, %

42%42%42%44%

Interest income

39.3 b41.1 b

Pre tax profit

16.2 b6.9 b22.2 b25.2 b

Income tax expense

4.7 b2 b6.3 b7.2 b

Net Income

11.4 b4.8 b15.9 b17.9 b
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

24.7 b23.8 b23.7 b24.8 b23.2 b22 b22.9 b24 b24.9 b

Cost of goods sold

2.9 b2.6 b2.5 b2.6 b2.5 b2.5 b2.5 b2.4 b2.7 b

Gross profit

21.7 b21.2 b21.2 b22.1 b20.7 b19.5 b20.4 b21.6 b22.2 b

Gross profit Margin, %

88%89%89%89%89%89%89%90%89%

Sales and marketing expense

450 m446 m440 m445 m445 m419 m414 m410 m332 m

R&D expense

761 m754 m852 m715 m731 m838 m717 m685 m794 m

Operating expense total

1.2 b1.2 b1.3 b1.2 b1.2 b1.3 b1.1 b1.1 b1.1 b

EBIT

10 b10.2 b9.5 b10.5 b9.5 b9.2 b9.2 b10.2 b11.1 b

EBIT margin, %

41%43%40%42%41%42%40%42%44%

Pre tax profit

2.8 b431 m4.7 b7.5 b6.1 b3.7 b5.9 b7.3 b6.6 b

Income tax expense

504 m663 m1.4 b2.2 b1.6 b1 b1.7 b2.3 b1.7 b

Net Income

2 b1.8 b3.4 b8.7 b13.2 b2.7 b6.9 b13.2 b4.9 b
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

131.3 b138.6 b159.4 b147.7 b

PP&E

10.5 b10 b9.5 b9.1 b

Goodwill

69.8 b69.8 b69.8 b69 b

Total Assets

2.1 t2.1 t2.1 t2.2 t

Accounts Payable

398 k

Total Debt

295.7 b274.3 b264.9 b240.8 b

Total Liabilities

1.9 t

Retained Earnings

72.5 b75 b88.6 b101.9 b

Total Equity

256.2 b266.8 b

Debt to Equity Ratio

1 x0.9 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x0.1 x

Financial Leverage

8.4 x8.2 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

153 b129 b163 b164 b170 b180 b171 b143 b168 b

PP&E

10.1 b10 b9.8 b9.7 b9.6 b9.4 b9.2 b9.1 b9.3 b

Goodwill

69.8 b69.8 b69.8 b69.8 b69.8 b69.8 b69.7 b69.7 b69 b

Total Assets

2.2 t2.1 t2.1 t2.2 t2.2 t2.2 t2.2 t2.2 t2.3 t

Accounts Payable

1.1 t1.1 t1.2 t1.2 t1.2 t1.2 t1.2 t1.2 t1.3 t

Retained Earnings

73.8 b72.8 b77.5 b81.9 b85.5 b90.3 b93.6 b98.3 b105 b

Total Equity

237 b239 b250 b252 b256 b263 b267 b270 b268 b

Financial Leverage

9.2 x8.9 x8.6 x8.5 x8.4 x8.3 x8.2 x8.1 x8.4 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

11.4 b4.8 b15.9 b17.9 b

Depreciation and Amortization

730 m

Cash From Operating Activities

92.8 b26.7 b27.7 b18.3 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 b33 b

Interest Paid

12.9 b11.1 b10.6 b10.5 b

Income Taxes Paid

1.6 b2.6 b2.3 b1.6 b
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

2 b1.8 b3.4 b8.7 b13.2 b2.7 b6.9 b13.2 b4.9 b

Depreciation and Amortization

235 m234 m213 m212 m207 m187 m186 m181 m162 m

Cash From Operating Activities

27.5 b27.1 b(4.7 b)(12.6 b)22.3 b10.8 b26.1 b26.7 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 b3.5 b38.5 b56.3 b42.4 b29.4 b14 b17.8 b46.3 b
USDY, 2017

Revenue/Employee

119.7 k

Financial Leverage

8.4 x

Bank of America Operating Metrics

Y, 2012Y, 2013Y, 2014Y, 2015

Mobile Banking Users

12 m14.4 m16.5 m18.7 m

    Bank of America Acquisitions / Subsidiaries

    Acquired CompanyDateDeal Size
    Merrill LynchJanuary 01, 2009
    Countrywide Financial CorporationJuly 01, 2008
    MBNAJuly 30, 2005
    National ProcessingJuly 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

    Bank of America Online and Social Media Presence

    Bank of America Company Life and Culture

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