Bank of America 2012 Annual Report Download - page 6

4 Bank of America 2012 Annual Report
It comes down to one customer,
one client, one interaction at a time.
It comes down to delivering what
our customers need and doing it
fl awlessly over and over again.
It comes down to better connecting as a team and working
together to deliver one company. Throughout this report,
we will share some stories that exemplify how we deliver for
our shareholders through the power of our connections with
our customers, our clients, and the communities we serve.
Delivering one company
Looking across every customer group we serve — whether
a retail customer, an individual investor client, or a large
corporate client — you can see how the work to deliver one
company and the relationship strategy we’ve put in place
are driving results.
For people, we’re delivering products and capabilities our
customers want in a targeted way that takes into account
each customer’s relationship and preferences. One particu-
lary exciting area is the growth we see in online and mobile
banking. The number of mobile banking customers increased
by 30 percent during the year to more than 12 million
customers, and we are averaging about 10,000 new mobile
subscribers a day.
We also increased our specialized sales force of mortgage
loan offi cers, small business bankers and fi nancial solutions
advisors to nearly 6,200 — providing customers improved
access to specialists. As a result, deposits continue to grow
and retail mortgage production was up more than 40 per-
cent in the fourth quarter of 2012 from a year ago.
Small business loan originations increased 28 percent to
$8.7 billion for the year, refl ecting our focus on supporting
this key segment of the U.S. economy. Our preferred client
growth was strong, with brokerage assets in Merrill Edge®
up 14 percent from a year ago. Wealth management revenue,
earnings and pretax margin were also at record levels for
the year. Both Merrill Lynch and U.S. Trust had strong,
increased client fl ows, meaning clients are doing more
business with us.
For companies, we are connecting them with our expertise
and capabilities so they can do more and get the solutions
they need. Loan growth expanded; commercial loans were up
nearly 12 percent from a year ago. Investment banking fees
are strong and we maintained our No. 2 global market share
position for the third consecutive year.
Whether it’s closing a deal in Asia or clearing
a trade in New York, our team of professionals
brings expertise and integrity to every
relationship and every transaction.