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The Bank of America broadcasted the results of their fourth quarter earnings for 2016. The banks have made a net income of $4.7 billion; this makes a golden year for banks after the presidential elections. BofA’s peers such as JP Morgan Chase & Co. and Wells Fargo & Co. are also expected to release their Q4 2016 earnings today, Friday the 13th.

The Bank of America sees a very good year for consumer banking last 2016; their loans were up $20.1 billion and deposits were at $55 billion. The bank’s brokerage assets increased 18 percent; for their innovating platform for mobile, the company saw a tremendous increase of active users reaching a total of 21.6 million in numbers which were a total increase of 16 percent. Lastly from the bank’s consumer banking, their total credit card and debit card spending went up by 6%.

According to CEO Brian Moynihan, “We had strong results in 2016 because our strategy is working. We are lending more and seeing historically low charge-offs, which is what responsible growth is all about. Revenue was up modestly, but EPS grew by 15% as we continued to manage our expenses and create operating leverage. With strong leadership positions in our businesses against a backdrop of rising interest rates, we are well-positioned to continue to grow and deliver for our shareholders in 2017.”

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BofA’s Q4 16 In The Global Scene

On the global banking scope, the Bank of America’s loans were at $15.6 billion while deposits, on the other hand, were at $10.3 billion. The return on average allocated capital or ROAAC saw a positive 2016 with an increase of a total of 17 percent; while the bank’s total corporation investment banking fees were at $1.2 billion. For the bank’s global wealth and investment management, BofA’s global total client balance saw a jump of an estimated $50.5 billion to more than $2.5 trillion, while loans were at $9.1 billion. The pretax margin also had a good run garnering an improvement of 23 percent, while the long-term asset under management or AUM is at $18.9 billion.

Leaning on the global markets, the bank’s sales and trading revenues of $2.8 billion including negative net debt valuation adjustment (DVA) of $101 million. While excluding the net DVA, sales and trading all-in-all had a tremendous 2016 with revenues increasing to 11 percent, fixed income is also up by 12 percent, and the equities also soared up to 7 percent.

In summary, Bank of America’s Q4 2016 is as excellent as analyst reported, the net income growing to $4.7 billion, EPS of $0.40, while the increases in planned common stock purchased for the first-half of the year is up from $1.8 billion to a whopping $4.3 billion.

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