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It's not really the core banking business in the US - interest is only about 50% of income for large banks. http://money.cnn.com/2017/02/22/investing/atm-overd
by charleslmunger 8y ago
It's not really the core banking business in the US - interest is only about 50% of income for large banks.
http://money.cnn.com/2017/02/22/investing/atm-overdraft-fees-rise/index.html http://money.cnn.com/2017/02/22/investing/atm-overdraft-fees...
And check out page 38 of BoA's annual report:
http://media.corporate-ir.net/media_files/IROL/71/71595/BOAML_AR2017.pdf http://media.corporate-ir.net/media_files/IROL/71/71595/BOAM...
Interest income was $44.7 billion, non interest income (aka fees, trading, and services) was 42.6 billion.
- fauigerzigerk 8y agoLending is still the biggest segment by far and some of the fees and charges are closely related to the lending business. Also, most of the other segments are not exactly what I imagine tech companies will want to do either. In the case of BoA that includes the entire business of the former Merrill Lynch.