BAC

Bank of America Corporation

Halal Rating :
Uncomfortable
See Details
Last Price $40.01 Last updated:
Market Cap $302.8b
7D Change 0.05%
1 Year Change 0.05%

Company Overview

Industries
  • Finance
  • Major Banks
  • Finance and Insurance
  • Commercial Banking
Exchange NYSE
Next Earnings Date Jan. 12, 2024

The Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. Founded in San Francisco, Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. It is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States. It services approximately 10 percent of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

Use of Interest

Reporting Date Total Revenue Total Operating Expense Interest Income Interest Expense Interest Income Ratio Interest Expense Ratio
March 31, 2024 $25.82b $44.92b $36.28b $22.25b 140.54% 49.54%
Dec. 31, 2023 $21.96b $25.88b $35.63b $21.68b 162.25% 83.77%
Sept. 30, 2023 $25.17b $39.7b $33.62b $19.25b 133.60% 48.48%

Company Impact

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Justification for our Halal Rating

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