Bank of America Corporation
4.05 %
11.73 %
Yet to be announced
Company Overview
Bank of America Corporation provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products. Its Global Banking segment provides lending products, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending. The company was founded in 1784 and is based in Charlotte, North Carolina.
Revenue Sources
FailAs a traditional bank, Bank of America's core business model relies heavily on interest-based lending and borrowing. The company's primary revenue streams come from interest income on loans, credit cards, and other lending products, which are considered haram activities in Islamic finance.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| March 31, 2025 | $27.37b | $19.62b | $14.44b | $19.62b | 52.78% | 100.00% |
| Dec. 31, 2024 | $25.35b | $21.62b | $14.36b | $21.62b | 56.65% | 100.00% |
| Sept. 30, 2024 | $25.34b | $23.52b | $13.97b | $23.52b | 55.11% | 100.00% |
| June 30, 2024 | $25.38b | $23.15b | $13.7b | $23.15b | 53.99% | 100.00% |
Based on the financial data from the last four quarters, both interest income and interest expense represent a significant portion of Bank of America's operations. The interest income consistently accounts for over 50% of total revenue, while interest expense makes up a substantial portion of total expenses. This indicates that interest-based activities are central to the company's business model.
Operational Ethics
PassWhile Bank of America operates globally, there is no clear evidence of significant ongoing associations with entities involved in human rights violations that would constitute a failure of this criterion.
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