Retail Banking

Holly O'Neill headshot
Holly O'Neill

For millions of people across the U.S., Retail Banking is their gateway to Bank of America. Two out of every three new Bank of America consumer clients begin their banking experience in Retail Banking.

We strive to be the world’s best digital bank, backed by a network of thousands of financial centers across the country. Our award-winning digital banking solutions empower our clients to securely manage their money anytime, anywhere. Under the leadership of Holly O’Neill, our diverse and talented team — 20,000 teammates strong — partners with clients through every milestone and phase of life to budget, save, spend and borrow toward their goals.

We meet each one of our 34.7 million clients where they are on their personal journey to financial health and security. And we empower them with the products, services and educational resources they need to build the financial life they’ve always dreamed of.

Together, we champion a healthy and secure financial future for all. Our teammates are why, for decades, millions of people have trusted us with their financial health and security. That’s a privilege and responsibility we’ll never take for granted.
 

Continued organic growth

as of April 16, 2024

  • We serve 69 million consumer and small business clients.
  • Approximately 3,800 financial centers and 15,000 ATMs in the U.S. 
  • Added 242,000 net new checking accounts 
  • Client experience remains high at 87.9%
  • Revenue of $10.2B (billion)
  • Record investment assets at $456B, up 29% YoY (year-over-year)
  • Ending loans of $315B, up 3% YoY (includes margins receivable)
  • Average balance per checking account, up 23% vs pre-pandemic levels
  • Average balance per savings account, up 11% vs pre-pandemic levels
  • Client balances are above $1.6T (trillion) up 1 % YoY

Retail Banking

For millions of people across the U.S., Retail Banking is their gateway to Bank of America. Two out of every three new Bank of America consumer clients begin their banking experience in Retail Banking.

We strive to be the world’s best digital bank, backed by a network of thousands of financial centers across the country. Our award-winning digital banking solutions empower our clients to securely manage their money anytime, anywhere. Under the leadership of Holly O’Neill, our diverse and talented team — 20,000 teammates strong — partners with clients through every milestone and phase of life to budget, save, spend and borrow toward their goals.

We meet each one of our 34.7 million clients where they are on their personal journey to financial health and security. And we empower them with the products, services and educational resources they need to build the financial life they’ve always dreamed of.

Together, we champion a healthy and secure financial future for all. Our teammates are why, for decades, millions of people have trusted us with their financial health and security. That’s a privilege and responsibility we’ll never take for granted.
 

Holly O'Neill headshot
Holly O'Neill

Continued organic growth

as of April 16, 2024

  • We serve 69 million consumer and small business clients.
  • Approximately 3,800 financial centers and 15,000 ATMs in the U.S. 
  • Added 242,000 net new checking accounts 
  • Client experience remains high at 87.9%
  • Revenue of $10.2B (billion)
  • Record investment assets at $456B, up 29% YoY (year-over-year)
  • Ending loans of $315B, up 3% YoY (includes margins receivable)
  • Average balance per checking account, up 23% vs pre-pandemic levels
  • Average balance per savings account, up 11% vs pre-pandemic levels
  • Client balances are above $1.6T (trillion) up 1 % YoY

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