What it does
Bank of America states that it is a bank holding company and financial holding company. Through bank and nonbank subsidiaries in the U.S. and international markets, it provides banking and nonbank financial services. The filing describes four business segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets; remaining operations are reported in All Other. It says its offerings include banking, investing, asset management, and financial and risk-management products and services.
Source: Bank of America Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
How it makes money
The company reports its operations through Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets, with remaining operations recorded in All Other. The segment table below presents the reported revenue mix. The filing characterizes the company’s activities as a diversified range of banking and nonbank financial services and products, serving consumer, business, institutional, corporate, and government clients. It does not provide a further segment-revenue breakdown in the supplied excerpt.
Source: Bank of America Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
Customers and geography
The company says it serves individual consumers; small- and middle-market businesses; institutional investors; large corporations; and governments. It operates through bank and nonbank subsidiaries throughout the U.S. and in international markets. FY2025 U.S. revenue was $97.7 billion, representing 86.4% of revenue. Revenue was $7.6 billion in Europe, Middle East and Africa, $6.0 billion in Asia, and $1.8 billion in Latin America and the Caribbean. The filing also identifies non-U.S. operations as subject to regulation in the jurisdictions in which they operate.
| Region | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| U.S. | $97.7 billion | 86.4% | 5.68% |
| Europe, Middle East and Africa | $7.6 billion | 6.69% | 16.3% |
| Asia | $6.0 billion | 5.31% | 15.8% |
| Latin America and the Caribbean | $1.8 billion | 1.63% | 6.10% |
Source: Bank of America Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
Competition
The filing states that Bank of America operates in a highly competitive environment. It lists competitors including banks, thrifts, credit unions, investment banking and advisory firms, brokerages, investment and insurance companies, mortgage banking companies, credit-card issuers, mutual fund companies, hedge funds, private-equity firms, and e-commerce and other internet-based companies. The company says it competes globally in some cases and regionally or by product in others. It also states that competition involves customer service and convenience, pricing, product range and quality, lending limits, technology, and reputation, experience, and relationships.
Source: Bank of America Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
Key risks
- Market: the company may be adversely affected by financial markets, fiscal, monetary, and regulatory policies, and economic conditions.
- Liquidity: inability to access capital markets, sustained net deposit outflows, or higher borrowing costs could negatively affect liquidity and competitive position.
- Credit: economic or market disruptions and insufficient credit-loss reserves may result in a higher provision for credit losses.
- Business operations: failures or breaches involving operations, information systems, third parties, or the financial-services industry could cause disruption and legal or reputational harm.
- Regulatory, compliance and legal: the company is highly regulated and subject to evolving legislation, regulations, and government-authority settlements, orders, and agreements.
- Reputation: damage to reputation could harm its businesses, including its competitive position and business prospects.
Source: Bank of America Corporation Form 10-K for fiscal 2025, Item 1A — sec.gov
People and operations
At December 31, 2025, the company employed approximately 213,000 people, with 77 percent located in the U.S. The filing states that none of its U.S. employees were subject to a collective bargaining agreement. Compensation and benefits expense was $42.3 billion in 2025, or 61 percent of total noninterest expense. The company says its Board and Compensation and Human Capital Committee oversee human-capital management strategies, programs, initiatives, and practices. Its principal executive offices are in Charlotte, North Carolina. The supplied filing excerpt does not state seasonality.
Source: Bank of America Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov