The bank`s average deposit balances have reached USD 1 trillion, gaining 4 percent from theyear-ago period and 2 percent from Q4 2010. Tangible book value per share has grown to USD 13.21 in Q1 2011, up from USD 12.98 at the end of 2010 and USD 11.70 in Q1 2010.
Bank of America has recorded a USD 23 billion decrease in risk-weighted assets and the global excess liquidity has increased to USD 50 billion from the end of 2010 to USD 386 billion at 31March 2011.
The provision for credit losses has decreased by 61 percent, as compared to Q1 2010 while the allowance for loan and lease losses to annualized net charge-off coverage ratio have improved in Q1 2011 to 1.63 times, as compared to 1.56 times in Q4 2010 and 1.07 times in Q1 2010.
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