Press Releases

1/21/14 9:30 am EST

Rising Overvaluations No Bar to Overweighting Equities

1/15/14 7:00 am EST

Fourth-quarter 2013 Results Included

  • Pretax Negative DVA/FVO Adjustments of $0.6 Billion due to Tightening of the Company's Credit Spreads
  • Pretax Litigation Expense of $2.3 Billion
  • Effective Tax Rate of 10.6 Percent

Fourth-quarter 2013 Highlights Compared to Year-ago Quarter

  • Period-end Consolidated Deposit Balances Increased $14 Billion to Record $1.12 Trillion
  • Period-end Loan Balances Increased $20 Billion to $928 Billion
  • Combined Debit and Consumer Credit Card Spending Rose 4.0 Percent to $123 Billion
  • Period-end Commercial Loan Balances Increased $42 Billion to $396 Billion
  • Global Wealth and Investment Management Pretax Margin Increased to 26.6 Percent From 21.1 Percent
  • Record Global Banking Revenue of $4.3 Billion, up 9 Percent
  • Achieved New BAC and Legacy Assets and Servicing 2013 Cost Savings Targets
  • Credit Quality Continued to Improve With Net Charge-offs Down 49 Percent; Ratio at 0.68 Percent
  • Basel 1 Tier 1 Common Capital of $145 Billion, Ratio of 11.19 Percent
  • Basel 3 Tier 1 Common Capital Ratio of 9.96 Percent, up From 9.25 PercentD

Full-year 2013 Highlights Compared to Full-year 2012

  • Nearly $90 Billion in Residential Home Loans and Home Equity Loans Funded in 2013
  • More Than 3.9 Million New Consumer Credit Cards Issued in 2013
  • Record Earnings of $3 Billion in Global Wealth and Investment Management
  • Bank of America Merrill Lynch Gained Market Share and Maintained No. 2 Ranking in Global Investment Banking FeesC
  • Liquidity Remained Strong at $376 Billion; Parent Company Time-to-required Funding Improved to 38 Months From 33 Months
  • Initiated Capital Return to Shareholders Through Repurchase of $3.2 Billion of Common Stock at an Average Price of $13.90 per Share
1/7/14 4:00 am EST

World’s Largest 8K Road Race Will Kick Off the Chicago Running Season With 40,000 Participants