Profile: Bank of America (BAC)

July 23, 2021 | Many of the readers of The Institutional Risk Analyst ask why we hate Bank of America (NYSE:BAC) CEO Brian Moynihan so. In fact, we love Brian as much as we adore all bank lawyers. Our criticism arises because the financial performance of the depository founded by A. P. Giannini as the Bank of Italy in 1904 is truly awful, as we discuss below. BAC is the worst performing bank in the top-five US commercial banks and often underperforms the average for Peer Group 1. We don’t make up BAC’s numbers. IOHO, Moynihan and the entire board of directors of BAC ought to be walked out of the building.

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