Bank of America
RANK
36
A booming year for banks boosted Bank of America, which saw its stock surge nearly 40% over the course of 2021 as it racked up $22 billion in profit. Rising asset-management and brokerage fees helped grow the bank’s wealth management division’s revenue 16%, to $5.6 billion. Mergers and acquisitions were also fruitful in 2021, especially in the auto industry, where BofA advised on more deals by value than any other bank—$16.4 billion. The bank has been able to keep finances steady in a rocky 2022 by tapping into reserves built up during the pandemic to protect against loan defaults.
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Company Information
As of 2/1/2023
Country
U.S.
Headquarters
Charlotte, N.C.
Industry
Megabanks
CEO
Brian T. Moynihan
Website
Company Type
Public
Ticker
BAC
Revenues ($M)
$115,053
Profits ($M)
$27,528
Market Value ($M)
$270,691
Employees
216,823
Figures are for fiscal year ended Dec. 31, 2022. Market value as of Jan. 20, 2023. Sources: Bloomberg; S&P Global.
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%
Bank of America Rank History
Historical Data
| Year | Revenues ($M) | Profits ($M) | Assets ($M) | Total Stockholder Equity ($M) |
|---|---|---|---|---|
| 2021 | $93,753-17.5% | $17,894-34.8% | $2,819,627 | $272,924 |
| 2020 | $113,5892.7% | $27,430-2.5% | $2,434,079 | $264,810 |
| 2019 | $110,58410.3% | $28,14754.4% | $2,354,507 | $265,325 |
| 2018 | $100,2647% | $18,2321.8% | $2,281,234 | $267,146 |
| 2017 | $93,6620.7% | $17,90612.7% | $2,187,702 | $266,840 |
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