Bank of America Corporation

BAC
Sector

Financials

Industry

Banks - Diversified

Market Cap

$360.63B

Employees

213K

Company Overview

Bank of America Corporation is a leading financial holding company offering a wide range of banking, investing, asset management, and risk management products and services to individual consumers, small and medium-sized businesses, institutional investors, large corporations, and governments globally. Its primary revenue streams are net interest income and noninterest income from fees and commissions, investment banking, and global markets activities. The company's competitive advantages include its extensive global network, strong brand recognition, and diversified product offerings.

Filing Highlights

Key insights and themes extracted from this filing

10 Themes

Financial Performance

3 Insights

Net income was $6.9 billion for the three months ended September 30, 2024, compared to $7.8 billion for the same period in 2023. The decrease was primarily due to higher noninterest expense and a higher provision for credit losses.

Total revenue, net of interest expense, was $25.3 billion for the three months ended September 30, 2024, compared to $25.2 billion for the same period in 2023. Noninterest income increased, while net interest income decreased.

Total assets increased to $3.3 trillion at September 30, 2024, from $3.2 trillion at December 31, 2023. This increase was primarily driven by higher trading account assets and securities borrowed or purchased under agreements to resell.

Growth & Strategy

3 Insights

Management Execution

3 Insights

Risk Factors

3 Insights

Competitive Position

3 Insights

Operational Efficiency

3 Insights

Innovation & Technology

3 Insights

Capital Allocation

3 Insights

ESG Initiatives

3 Insights

Market Environment

3 Insights