Bank of America 2013 Annual Report Download - page 4

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The results are on vivid display throughout these pages…from a brewery in
Brooklyn to a lumberyard in Los Angeles…from the second-largest mergers
and acquisitions deal in history to supporting a company bringing clean water
to the developing world…the stories here demonstrate the power of building
relationships, the power of meeting our clients in the markets where they
operate and connecting them to the resources they need.
For people, customers benefi t from our focus on helping them achieve their
goals. Deposits and total client balances both are at record levels as clients are
bringing more of their business to us. For the year, we issued nearly 4 million
new credit cards and helped 365,000 customers purchase or refi nance a home.
Our wealth management business had a banner year with record revenue,
pretax margin and net income.
For companies, they understand the value in our relationship approach and see
it as a competitive differentiator. For the year, we extended $10.7 billion in credit to
small business clients — an increase of 24 percent over last year. We also had
strong commercial loan growth and our global banking loan fl ows have been growing
for six consecutive quarters. Most notably, our investment banking team has had a
consistent No. 2 global ranking for the past several years — and in the fourth
quarter of 2013 we surpassed the competition to become No. 1. We advised on half
of the top 20 deals of last year, including Verizon, HJ Heinz and Silver Lake/Dell.
For institutional investors, we have the size, scale and global markets
capabilities important to these clients. And, we have the No. 1 research fi rm in the
world, for the third straight year. Our sales and trading platform is strong and
had $13.1 billion in revenue for the year — an 11 percent increase from last year.
$1.4
$11.4
$4.2
’11 ’12 ’13
Net income
(in billions, full year)
$644.5
$700.1
$605.4
’11 ’12 ’13
Capital
raised
for clients
(in billions, full year)
ATM with Teller Assist
This next-generation banking offering combines the
technology and convenience of an ATM with the human
touch of a teller. Customers have access to a range of
services during extended hours to address their daily
banking needs, and it provides convenience, control and
fl exibility over how, when and where they bank.
Exact change at the ATM
New technology allows our customers
to get exactly what they need, straight
out of the machine.
Life’s better when we’re connected