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Financial institution of America (NYSE: BAC) is the second-largest U.S. financial institution after JPMorgan and affords client banking, bank cards, industrial banking, funding banking, gross sales & buying and selling, and wealth administration companies. Trefis particulars the important thing parts of Bank of America’s Revenues in an interactive dashboard, together with our forecast for 2019-2020. Whereas the Wealth Administration enterprise has added $1.7 billion during the last three years (22% of the $7.6 billion added to the highest line over the interval), it’s set so as to add simply $100 million of the $600 million in anticipated income development over 2019-2020. Additional, this enterprise is a key focus space for the financial institution and has seen sizable development during the last 10 years from $7.eight billion in 2008 to $19.three in 2018.
Notably, Financial institution of America’s Client Banking enterprise is the very best contributing phase and is predicted to contribute $38.2 billion (42%) to Financial institution of America’s 2019 revenues of $91.2 billion – which is nearly twice Wealth Administration’s revenues share of 21.5%. You may make modifications to our forecast for particular person income streams within the dashboard to reach at your individual forecast for Financial institution of America’s Revenues.
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