Bank of America (BAC) 2026 RBC Capital Markets Global Financial Institutions Conference summary

Business strategy and growth opportunities

• Eight business lines are overseen by co-presidents, focusing on strategy, execution, and collaboration across consumer, wealth management, and global markets.

• Key growth areas include expanding the $5.5 trillion wealth business, leveraging business banking from small to global corporate, and integrating investment banking with high net worth clients.

• Consumer banking aims to drive deposit growth through digital and physical channels, with a targeted 5% growth rate in credit cards over the medium term.

• Wealth management seeks to capture more assets from existing clients and expand through referrals and workplace benefits, targeting 4%-5% net new asset growth.

• International and payments platforms are expected to contribute $4 billion in additional revenue in the medium term.

Consumer and business trends

• Consumer spending remains robust at a 5% year-over-year rate, with higher growth in entertainment and travel.

• Evidence of a K-shaped economy is present, with higher wage and spending growth at the upper end, but credit quality remains strong across all segments.

• Deposits are still above pre-COVID levels, and asset quality is stable.

• Corporate lending is strong, led by commercial banking, with positive activity from business clients.

Competitive advantages and platform integration

• Local market leadership is emphasized, with senior leaders acting as market presidents to drive growth and collaboration.

• Technology and scale are key differentiators, with $13 billion annual tech spend and $4 billion on new initiatives.

• Integrated digital platforms like Erica and CashPro support both consumer and corporate clients, handling billions of transactions.

• Wealth management combines multiple platforms, making it difficult for competitors to replicate.

• International operations span 45 countries and 140 currencies, supporting global client needs.