Bank of America
Bank of America is currently the second largest banking institution in the U.S., serving more than 10% of all American bank deposits. The financial services holding company and investment bank’s other areas of focus are commercial banking and wealth management. Over the years, BofA has pledged to help combat climate change and recently announced it would mobilize $1 trillion by 2030 for environmental and sustainability causes, in hopes of further accelerating the transition to a low-carbon economy.
Callaghan O'Hare—Bloomberg via Getty Images
Company Information
As of 4/4/23
Country
U.S.
Headquarters
Charlotte
Industry
Commercial Banks
CEO
Brian T. Moynihan
Website
Company Type
Public
Ticker
BAC
Revenues ($M)
$11,053
Profits ($M)
$27,528
Market Value ($M)
$222,540
Employees
216,823
Figures are for fiscal year ended Dec. 31, 2022. Market value as of March 17, 2023. Sources: S&P Global; Bloomberg.
Best Companies
Rank last year
29
Years on list
5
Employees (as of March 2023)
171,057
Job openings (as of March 2023)
6,579
Year founded
1904
Benefits
100% health coverage
no
Subsidized childcare
yes
Compressed work weeks
yes
Option to work remotely
yes
Minimum requirement in-office attendance (days per week)
3
Percentage of health care premiums covered
82
Mental health coverage
yes
Free mental health sessions (per year)
unlimited
Free backup childcare time off (days)
up to 50
Maximum $ amount covered for fertility services
unlimited
Fully paid maternal leave (days)
80
Fully paid paternal leave (days)
80
Fully paid adoptive leave (days)
80
Maternal leave in addition to regular time off (days)
80
Paid days off for volunteering
yes
Diversity
% Women
53%
% Minorities
-
% African-American/Black
14%
% Asian
13%
% Caucasian/White
51%
% Hispanic/Latino
19%
% Native American/Alaska Native
-
% Native Hawaiian/Pacific Islander
-
% Two or more races
2%
% Unknown ethnicity
-
America's Most Innovative Companies
Sector
Financials
Culture rank
75
Process rank
101
Product rank
15
World's Most Admired Companies
Sector
Financials
Industry
Megabanks
Current All-Star Rank
37
Previous All-Star Rank
39
Industry Rank
5
Previous Industry Rank
1
Overall Score
6.42
Innovation
5
People Management
4
Use of Corporate Assets
5
Social Responsibility
5
Quality of Management
6
Financial Soundness
4
Long-Term Investment Value
5
Quality of Products/Services
4
Global Competitiveness
10
Key Financials (Last Fiscal Year)
$ millions
% change
Revenues ($M)
$93,851
0.1%
Profits ($M)
$31,978
78.7%
Assets ($M)
$3,169,495
-
Total Stockholder Equity ($M)
$270,066
-
Profit Ratios
Profit as % of Revenues
34.1%
Profits as % of Assets
1%
Profits as % of Stockholder Equity
11.8%
Earnings Per Share (Last Fiscal Year)
Earnings Per Share ($)
357
EPS % Change (from 2020)
90.9%
EPS % Change (5 year annual rate)
18.9%
EPS % Change (10 year annual rate)
80%
Total Return
Total Return to Investors (2021)
49.5%
Total Return to Investors (5 year, annualized)
17.5%
Total Return to Investors (10 year, annualized)
24.9%
Change the World
Impact Segment
Economic Opportunity/Financial Inclusion
Sector
Financials
Prior Year Rank
15
