Annual Reports & Proxy Statements :: Bank of America Corporation BAC

The International Bank for Reconstruction and Development and the International Development Association are two of the five institutions of the World Bank Group . Each institution publishes its own annual report, all of which are available online. Looking back on 2021, it was another year in which Covid-19 dominated the headlines. Yet there were signs of recovery and ING continued to perform well https://www.bookstime.com/ and create value for our stakeholders. In particular we focused on data-driven digitalisation to create a differentiating customer experience, on being financially healthy, a safe, secure and compliant bank, and on sustainability, which is at the heart of what we do. Cost of funds refers to the interest rate paid by financial institutions for the funds that they deploy in their business.

• On this page you will find the annual reports of Credit Suisse AG and the Credit Suisse AG , as well as our Sustainability Report available for download.
• The FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection; makes large and complex financial institutions resolvable; and manages receiverships.
• The International Bank for Reconstruction and Development and the International Development Association are two of the five institutions of the World Bank Group .
• One way banks try to overcome interest rate risk is through fee income for products and services.

The bank then lends funds out at a much higher rate, profiting from the difference in interest rates. We exit the second year of the pandemic rooted in markets with strong growth prospects. We have the right strategy, business model and ambition to deliver on this potential. We have shown a resilient financial performance in 2021 and have set out clear actions to achieve a RoTE of 10 per cent by 2024. Our Sustainability agenda and thought and action leadership remains a key priority as the world continues to face significant environmental and climate challenges. We are determined to deliver on our plans – to reach net zero in our operations by 2025 and in our financed emissions by 2050.

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The Summary of Deposits is the annual survey of branch office deposits as of June 30 for all FDIC-insured institutions, including insured U.S. branches of foreign banks. All institutions with branch offices are required to submit the survey; institutions with only a main office are exempt.

• For example, Figure 2 shows total interest income of bank of America in 2017, the green line, got up to 57.5 billion dollars which is from loans, investments and cash positions.
• The app allows clients to talk to their relationship managers via text or calls, as well as authorising investment transactions.
• Call Report data are also used by the public, state banking authorities, researchers, bank rating agencies, and the academic community.
• Our Sustainable Finance capabilities are not only making a difference where it matters the most, but also representing a growing source of income.
• The Board is committed to operating within the 13 to 14 per cent CET1 ratio range and we are very clear that capital not needed to fund growth will be returned to shareholders.
• Learn about the FDIC’s mission, leadership, history, career opportunities, and more.

For example, if cash flow of a bank shows negative net cash flow, this can speculate that this bank has some problems in operating or managing. Excessive liability may cause this situation, which means that bank may be facing liquid risk. It contains an overview of our tax contribution bank financial statements country by country as well as our broader approach to tax including our UK tax strategy. Our illustrative disclosures for banks are based on a fictitious banking group involved in a range of general banking activities, which is not a first-time adopter of IFRS Standards.

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For a bank, revenue is the total of the net-interest income and non-interest income. Most countries have a central bank, where most national banks will store their money and profits. Deposits from a bank in a central bank are considered assets, similar to cash and equivalents for a regular company. It also expects to receive a small interest payment, using the central bank’s prime rate. Being a community bank means being open and transparent to the communities Central Bank serves. Keeping you informed about our bank’s financial strength is Central to us – and Central to you.

The long-term fundamentals of the markets in which we operate have not changed. These markets, notably China and other markets in Asia, will drive future global economic growth over the coming decades. We are confident we have the right strategy to capture the opportunities that will arise from those trends, and we can see evidence that it is working. Our performance in the second half of 2021, and into this year, gives us confidence that we are on track to achieve our strategic and financial objectives. We saw a return to income growth, which we believe signals the start of a sustainable recovery, and we finished the year with good business momentum in Financial Markets, Trade and Wealth Management.

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Members of the Board attended a number of subsidiary board and committee meetings and held virtual Board-workforce engagement sessions across our regions during the course of the year. The Board hopes to be able to once again engage colleagues in person during 2022 as part of its market visits. The Group is highly liquid and well capitalised with a Common Equity Tier 1 (‘CET1’) ratio of 14.1 per cent. The Board has recommended a final dividend of 9 cents per share, or $277 million, with the full year dividend an increase of one third from 2020.

There is also a corresponding interest-related income, or expense item, and the yield for the time period. The improvements in external conditions, however, are not guaranteed and substantial uncertainties persist, in particular regarding geopolitical tensions and the evolution of inflation and interest rates. As such, we are fully committed to taking the operational actions outlined above to underpin attainment of double-digit RoTE. The macro-economic environment remains important to the delivery of our financial ambitions. By the end of 2021 falling rates over the last two years have driven a greater than $2 billion reduction in net interest income which we have been working hard to replace. With the interest-rate cycle showing signs of turning, and given our positive gearing to US-dollar rates, we should recover this lost income.

IsDB-OCR – Annual Financial Statements 2017

Learn about the FDIC’s mission, leadership, history, career opportunities, and more. The World Bank helps countries achieve progress toward their development goals and protect hard-earned gains through a unique combination of financing, expertise, and convening power. The COVID-19 coronavirus pandemic continues to impact companies in different ways depending on the industry and economic environment in which they trade. In essence, this allowance can be viewed as a pool of capital specifically set aside to absorb estimated loan losses.

• In particular we focused on data-driven digitalisation to create a differentiating customer experience, on being financially healthy, a safe, secure and compliant bank, and on sustainability, which is at the heart of what we do.
• Overall, our results show evidence of resilience, with performance improving against a difficult backdrop.
• In Bill’s report the actions we are targeting are outlined, which includes active management of the Group’s capital, with a target to return in excess of $5 billion in the next three years.
• The Bank’s annual report is combined with the annual report of the Group and includes the consolidated and parent company financial statements of the Bank.
• Annual reports also include financial statements and a review of institutional aspects of the Bank.

Income statement can reflect the profitability of a bank helping bank to predict the future profit. It also provides a reference for manager and investor to understand the operating results and investment efficiency. In addition, it can reflect that profit distribution and profit growth is reasonable or not. If growth ratio between two business cycles is too much different, this bank is facing management risk. If profit distribution between deposit and loan has a large difference, this bank has more possibility to face interest rate risk.

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Maturity gap is a measurement of interest rate risk for risk-sensitive assets and liabilities. A term deposit is a type of financial account where money is locked up for some period of time in return for above average interest payments on those amounts. Net interest income totaled $44.6 billion for 2017 and is the income earned once expenses have been taken out of interest income. Again, net interest income is mostly comprised of the spread between interest earned from loans and the interest paid out to depositors. The bottom of the table shows the interest expense and the interest rate paid to depositors on their interest-bearing accounts. You are continuing to another website that Bank of America doesn’t own or operate.

A summary of our risk profile, its interaction with the Group’s risk appetite, and risk management. A report aligning to the Task Force on Climate-related Financial Disclosures recommendations in this, the fifth year of disclosure.

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I am confident that, with the actions we have outlined to continue driving and indeed accelerating our strategic priorities, we will create long-term and sustainable value for our stakeholders. We recently announced several changes to our Board Committee composition, details of which can be found in the Directors’ report on pages 90 to 191. During the year, we refocused our Brand, Values and Conduct Committee to Culture and Sustainability. This Committee, chaired by Jasmine Whitbread, has been actively involved in supporting the Board and the business in relation to our net zero approach. The Board was also heavily involved in the key decisions ahead of endorsing the Group’s net zero white paper, published in October ahead of COP 26. While the Board has been unable to meet in a number of key markets in person this year, we have stayed engaged virtually.

We have also announced a share buy-back programme and will shortly start purchasing and then cancelling up to $750 million of ordinary shares. The FDIC provides a wealth of resources for consumers, bankers, analysts, and other stakeholders. Browse our collection of financial education materials, data tools, documentation of laws and regulations, information on important initiatives, and more. Institutions identified as G-SIIs are required to disclose, annually, the values of the indicators used for determining the G-SII status and capital requirements.