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Bank Of America Corp  (BAC)
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    Sector  Financial    Industry Money Center Banks
 
 

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Bank Of America Corp announced forth quarter 2016 operating income of $13691 millions



Company displayed pleasant results in the forth quarter 2016. Revenues were at $22.16 billions higher by 19.72 % year on year and increased by 2.41 % quarter on quarter, while earnings per share more than doubled by 143.01 % to $0.52, sequentially earnings grew by 26.09 %.


Bank Of America Corp told that it's good performance came from several different businesses, Asset Management +38.94%, Global Banking +2.39%, Commercial or Investment +0.4%, while following sections logged decrease in revenues Consumer Banking -8.97%, Global Markets -1.57%, Other 653.85%.

With rising profits in Global Markets and Commercial or Investment sections, and oblivious to shrinking profits in Asset Management and Global Banking segment. Net income of $6,039 millions in the forth quarter 2016 increased by 123.42 % from net earnings of $2,703 millions reported in the forth quarter 2016 a year ago. Bank Of America Corp also emphasized it's improving profit margins, where net margin rose to 27.26% in forth quarter 2016, and operating margin edged up to 61.79%.

Continuing with Bank Of America Corp's forth quarter 2016 report, company pointed out increase in: Tier1 Capital Ratio 12.90 up 0 %, Total Capital Ratio 15.80 up 0 %.
Explaining results, Money Center Banks company told, that it saw rise in: Leverage Ratio 8.50 gain by 0.6 %.
The Money Center Banks company, also marked largest decline in Efficiency Ratio and further contraction in Nonperforming Assets Ratio. Looking into financial results for the fiscal year 2016, Bank Of America Corp reported Revenues of $83.70 billions and net income of $17.91 billions.

Money Center Banks Company explained also, that Income per share increased by 14.5 % to $1.50 per share from $1.31 in the previous fiscal year, while Revenues increased by 1.45 % from $82.51 billions a year ago.
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