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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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Lists ranking Bank of America
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