Bank of America Q4 numbers are in

Bank of America announced its 2021 Q4 financial results before the opening bell on Wall Street on Wednesday.

World’s 2^nd largest bank reported total revenue of $22.06 billion, falling short of analyst estimate of $22.18 billion.

Earnings per share at $0.82 a share in the previous quarter, above analyst forecast of $0.77 a share.

Chairman and CEO, Brian Moynihan commented on the latest results: “Our fourth-quarter results were driven by strong organic growth, record levels of digital engagement, and an improving economy. We grew loans by $51 billion and added $100 billion of deposits during the quarter, further strengthening our position as the leader in retail deposits.”

“We earned a record $32 billion in 2021, with every business line solidly contributing. In Consumer, we added millions of new credit card accounts and nearly a million net new checking accounts as we continued to demonstrate the value we provide through our physical and digital capabilities. Wealth Management had record client flows and the strongest client acquisition numbers since before the pandemic. Investment Banking had its best year ever and Global Markets had its highest sales and trading revenue in a decade, led by record Equities performance as we invested in the business.”

“We also continued to support our communities, helping them address some of society’s biggest challenges, including the environment, the pandemic, racial equality and economic opportunity. I want to thank our talented teammates across the globe for all their work over the past year,” he added.

Bank of America chart (1Y)

Share price of Bank of America little changed during the trading day on Wednesday. The stock is up by 45% in the past year at $46.58 per share.

Bank of America is the 20^th largest company in the world and with a total market cap of $383.21 billion.

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Sources: Bank of America, TradingView, CompaniesMarketCap