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Noninterest Income:
On average, non-interest income accounts for nearly 40 per cent of operating
income
driven by declines in sales and trading results as well as mortgage banking
Higher income from mortgage banking and investment and brokerage services was
more than offset by lower equity investment income, reduced gains on sales of debt
securities, a decline in sales and trading revenue, and investment banking fees
(https://www.sec.gov/Archives/edgar/data/70858/000007085815000008/bac-
12312014x10k.htm, page 22).
Noninterest income decreased 11.7% percent from a year ago to $9.1 billion.
Excluding the impact of the adoption of FVA in the current period, and net DVA and
equity investment income in both periods, noninterest income was down 10 percent
from the year-ago quarter, driven by declines in sales and trading results as well as
mortgage banking(H). This was partially offset by higher card income and higher
investment and brokerage services income.
As Bank of America revenues and assets have fallen by 11.7% and 5.9%,
respectively, since 2011 despite a focused cross-selling strategy that is reviving the
