On July 18, 2022, Bank of America reported Q2 revenue of $22.7 billion (an increase of 6% year-over-year) on diluted earnings per common share (Diluted EPS) of $0.73.
Summary: Bank of America’s Q2 2022 revenue increased by 6% compared to the same period in 2021. The bank’s average loans & lease balances and average deposits were $1 trillion and $2 trillion, respectively. The bank had a Common Equity Tier 1 (CET1) ratio of 10.5% and remained above the regulatory minimum of 9.1%. The bank had a $523 million provision for credit losses in the quarter, up $2.1 billion from the previous year given a net reserve release of $48 million vs a $2.2 billion release in Q2 2021.
Bank of America had four reportable operating segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, and Global Markets.
Guidance: No guidance is provided for Q3 2022 and full-year 2022.
United States of America
United States of America
United States of America
United States of America
China
United States of America
United States of America
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