Bank of America

Bank of America (BofA; NYSE: BAC) is a diversified global financial institution. BofA’s retail banking operations serve ~69 million consumers and small business clients (2023). It generated net interest income (NII) of USD 56.9 billion and non-interest income of USD 41.7 billion in 2023. 

BofA operates under four primary business segments: 1) Consumer Banking (~59% of total NII in 2023), which comprises retail and preferred banking operations; 2) Global Wealth & Investment Management, which operates through Merrill Wealth Management and Bank of America Private Bank; 3) Global Banking, which encompasses Global Corporate Banking, Global Investment Banking, Global Commercial Banking, and Business Banking divisions; and 4) Global Markets, which offers sales, trading, and research services to institutional clients. 

BofA generates ~87% of its total revenue in the US. The bank aims to achieve net-zero emissions by 2050.