Page 26 - Bank of America E Case Study

$976 million. Net charge-offs declined 8%, and the net charge-off

ratio declined to 0.40% from 0.44%.

• All said and done, Bank of America reported earnings per share for
$0.46 during the second quarter of 2017, growing by a healthy

12% year over year and outperforming Wall Street expectations
by $0.03 per share.” (14)

Improved core operating performance reflects BofA’s

management's continued effort to streamline the

company's operations through significant investments in

automation and digital capabilities and state of the art

information and data processing systems thereby

developing strong databases and computing platforms.

Moreover, BofA has demonstrated that it knew how to

use new technologies to serve its customers with for
example, Mobile Banking.

“Technology is transforming financial services,

fundamentally changing the relationship people

have with their bank by delivering the best of

high tech and high touch. Mobility, in particular,

is dramatically improving access to financial

services, regardless of income, geography or

technological familiarity.”

Merrill Lynch Private Wealth Advisor Raj Sharma (22)