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Well Positioned to Deliver Consistent Results

Regarded as one of the world’s leading financial institutions, Bank of America serves individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services. 

Our decade-long focus on Responsible Growth allows us to be a source of stability for our customers and clients during challenging times, to continue supporting the communities in which we work and live, and to deliver more consistent results for our shareholders throughout a well-understood risk framework. By asking What would you like the power to do?, we are continually seeking to deepen client relationships and create shared success with the communities in which we operate.

Total Cumulative Shareholder Return

December 31st Bank of America Corporation S&P 500 KBW Bank Sector Index
2020 $88.0 $118.0 $90.0
2021 $132.0 $152.0 $124.0
2022 $101.0 $125.0 $98.0
2023 $106.0 $157.0 $97.0
2024 $141.0 $197.0 $133.0
2025 $205.0 $196.0 $196.0

This graph and table compare the yearly change in the Corporation’s total cumulative shareholder return on its common stock with (i) the Standard & Poor’s 500 Index, and (ii) the KBW Bank Sector Index for the years ended December 31, 2020 through 2025. It is assumed that an initial investment of $100 is made at the end of 2020 and all dividends are reinvested during the years indicated.

Leading U.S. & Global Footprint

Leading Customer Capabilities

#1

In U.S. consumer deposits

4Q25 FFIEC Call Reports
$1.3T

Consumer deposits (combined Consumer and GWIM businesses)

~70M

Consumer and small business clients

59M

Verified digital users

Leading Global Capabilities

#1

Best Global Bank for Cash Management

Global Finance, 2025
$0.7T

Commercial loans

96%

of the U.S. Fortune 1,000; and 78% of the Global Fortune 500 served by Global Banking businesses

4.8M

CashPro® App payments

in 1Q26

For complete information regarding our financials, see our SEC Filings

Driving Responsible Growth

Our strategy focuses on Responsible Growth. It allows us to sustainably drive the economy while managing risk and providing a return to our clients and our business. We are not only helping to create jobs but also develop communities, foster economic mobility, and address society’s biggest challenges around the world.

Our Goal

To achieve sustainable growth through serving our clients and reinvesting back into our team, our capabilities, our client experience, our communities, and our shareholders.


Grow and Win in the Market — No Excuses

Over the last few years, deposits across our eight lines of business experienced positive growth as a result of deepening client relationships and developing new relationships. This growth in client deposits funds our loan growth across all of our businesses.

Grow with our Customer-Focused Strategy

Across our eight lines of business, we serve three customer groups: people, companies, and institutional investors. Our business model allows us to simplify our operations and ensure we are doing the most for our customers and clients while optimizing our balance sheet to perform efficiently and comply with regulations.

Grow Within our Risk Framework

Managing inherent risks well is fundamental to our business, and we have implemented the most effective risk-management practices across our businesses to manage them in a responsible manner that serves our clients, shareholders, and communities, and helps the economy grow.

Grow in a Sustainable Manner

We ensure sustainable Responsible Growth by driving operational success and actively sharing our success with our communities, as well as creating a great place to work for our teammates.

Serving the Best Client Care in the Industry

Through our eight lines of business, we work with consumers and companies large and small, helping them navigate through every stage of their financial lives by providing insights, ideas, and award-winning research to help drive the economy forward.

Retail

Our Retail business provides U.S. consumers with a full range of financial products and services, as well as access to our award-winning digital banking capabilities and a robust retail banking network.

Preferred

Our Preferred business provides personalized solutions, valuable rewards, and advice and guidance for clients with more complex banking, borrowing, and investing needs through a nationwide financial center network and award-winning digital capabilities. We also serve entrepreneurs and small businesses by providing them with cash management, lending, and investment solutions.

Net Income ($B)

Year Amount
2018 $12.1
2019 $13.0
2020 $6.5
2021 $11.9
2022 $12.5
2023 $11.6
2024 $10.8
2025 $12.2

Consumer Banking FY 2025

28%

ROAAC1

52%

Efficiency Ratio2

1 ROAAC defined as return on average allocated capital.

2 Fully Taxable Equivalent (FTE) basis.

For complete information regarding our financials, see our SEC Filings

Merrill Wealth Management 

Merrill offers straightforward investment advice and financial guidance to help clients create personalized, goal-based strategies.

Bank of America Private Bank

The Private Bank provides sophisticated planning and financial solutions to help families manage substantial wealth – now, and for future generations.

Net Income ($B)

Year Amount
2018 $4.0
2019 $4.3
2020 $3.1
2021 $4.3
2022 $4.7
2023 $3.9
2024 $4.3
2025 $4.7

GWIM FY 2025

24%

ROAAC1

75%

Efficiency Ratio2

1 ROAAC defined as return on average allocated capital.

2 Fully Taxable Equivalent (FTE) basis.

For complete information regarding our financials, see our SEC Filings

Business Banking

Business Banking delivers integrated financial guidance and solutions to small and mid-sized U.S. companies. These offerings include credit, deposits and treasury, merchant services, trade, and foreign exchange.

Global Commercial Banking

Global Commercial Banking brings clients the full capabilities of our company paired with local service. We serve middle-market companies across all industries, providing various treasury, lending, leasing, financial guidance, and debt and equity underwriting services.

Global Corporate & Investment Banking

Global Corporate & Investment Banking provides access to a full suite of treasury, lending, leasing, advisory, and debt and equity underwriting services for large corporations across all industries, as well as various municipalities and government agencies.

Net Income ($B)

Year Amount
2018 $8.3
2019 $8.1
2020 $3.5
2021 $9.8
2022 $7.8
2023 $10.1
2024 $8.0
2025 $7.8

Global Banking FY 2025

15%

ROAAC1

52%

Efficiency Ratio2

1 ROAAC defined as return on average allocated capital.

2 Fully Taxable Equivalent (FTE) basis.

For complete information regarding our financials, see our SEC Filings

Global Markets

Global Markets provides a broad range of services across the world’s debt, equity, commodity, and foreign exchange markets, serving institutional investor clients, including hedge funds, asset managers, pension funds, and others. These services include award-winning liquidity and hedging strategies, invaluable insights, and access to one of the world's leading research platforms.

Net Income ($B)

Year Amount
2018 $4.0
2019 $3.5
2020 $5.3
2021 $4.6
2022 $4.2
2023 $4.7
2024 $5.6
2025 $6.1

Global Markets FY 2025

13%

ROAAC1

64%

Efficiency Ratio2

1 ROAAC defined as return on average allocated capital.

2 Fully Taxable Equivalent (FTE) basis.

For complete information regarding our financials, see our SEC Filings

Delivering for Our Communities

By investing in the strength of the communities in which we operate, we help to ensure that our business is sustainable while improving people’s lives today and into the future, especially in the moments that matter most.

Creating Economic Opportunity

We’re committed to expanding pathways to help our clients, teammates, and communities build stronger financial futures.

In Action

Building Genuine Connections with Our People

Being a great place to work means investing in the people who serve our clients. That’s why we provide strong pay and competitive benefits to help our employees grow and care for their families. We continually set industry standards for employee support and demonstrate our commitment by investing in programs and initiatives designed to enhance employee wellness and long-term growth.

In Action

Following Responsible Business Practices

Our business is built on a solid foundation of responsible business practices, and we hold ourselves accountable to these standards through an unwavering client focus, disciplined risk management, and strong corporate governance.

In Action

Leadership

Responsible Growth Driven by Skilled Leaders

Our leadership team strives to make our company a great place to work for our employees and is committed to following our tenets of Responsible Growth to deepen relationships with our clients and create shared success with the communities we serve.

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