Bank of America : Subsidiary Information Factsheet (BofA Europe DAC Factsheet 2025 ADA
BAC
Published on 06/04/2025 at 17:59
Overview and Structure
Bank of America Europe DAC ("BofA Europe" or the "Company") is a licenced credit institution and Bank of America Corporation's (NYSE:BAC) ("BAC") primary European banking entity. BofA Europe is a wholly owned subsidiary of Bank of America, N.A. ("BANA") and the ultimate parent of the Company is BAC.
The Company provides a range of financial services and forms part of BAC's Global Banking and Global Markets operations in the EMEA region. The Company services corporate clients domiciled in the European Economic Area ("EEA"), UK and Central and Eastern Europe, Middle East and Africa region and institutional clients predominately domiciled in Europe.
BofA Europe's client portfolio comprises large global Corporates and large regional Corporates as well as Financial Institutions, governments and government entities.
As well as providing financial services to clients, the Company also provides support services (employees and infrastructure) to other companies in the BAC group.
S&P: A+ (stable outlook) / A-1; Fitch: AA (stable outlook) / F1+
Authorised by the Central Bank of Ireland and is also supervised as a significant institution under the European Central Bank's ("ECB") Single Supervisory Mechanism ("SSM").
BofA Europe's parent, BANA, is a United States national banking association authorised and regulated by the Office of the Comptroller of the Currency ("OCC") while the Federal Reserve Bank ("FRB") supervises the ultimate parent company (BAC), with the head office for BANA and BAC in Charlotte, North Carolina.
Designated Activity Company ("DAC") incorporated in Ireland (Registered Number: 229165)
Wholly-owned indirect subsidiary of BAC, a regulated United States entity; and direct subsidiary of BANA. An organisational chart showing select major operating subsidiaries of BAC is available at https://http://investor.bankofamerica.com
Two Park Place, Hatch Street, Dublin 2, Ireland
Financial Performance - for the year ended 31 December 2024
Total Revenue, Expenses and Profit
(IFRS in $ millions)1
BofA Europe financial statements for 2024 show
$3,261MM (2023: $3,020MM) of revenue and
$1,329MM profit after tax (2023: $1,447MM).
Profit
Results are derived from the Company's core
Global Banking and Global Markets activities and its Support Services activities.
Revenue
after tax
Expenses
Global Banking and Global Markets contributed
$3,018MM (2023: $2,771MM) in revenue, with the increase driven by net interest income as a result of increasing interest rates, and fee and commission income from higher Investment Banking advisory and loan syndication fees.
The Support Services segment contributed
$243MM (2023: $249MM) to total revenue.
(1) Source: 2024 Financial Statements
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$1,500
$1,329
$3,261
Financial Position - as of 31 December 2024
Balance Sheet
Total Assets and Liabilities
($ billions)1
Capital Adequacy and Leverage metrics
Key Metrics
($ billions)2
$17.6
$4.9
$12.6
$15.5
$61.4
25.23%
13.76%
Total
Assets
Total
Liabilities
(1) Source: 2024 Financial Statements
(2) Source: 2024 Pillar 3 Disclosure - converted from EUR to USD at FX Rate of 1.0389
Market Coverage and Primary Business Activity
Leverage Ratio
CET 1
Capital Ratio
Risk Weighted Assets
CET 1
Capital
Excess Capital Resources
Total Minimum Capital Required
Total Capital Resources
$69.4
$85.5
BofA Europe has the ability to conduct business with international clients and trade throughout Europe
BofA Europe has established branch operations in Amsterdam, Athens, Brussels, Frankfurt, London, Luxembourg, Madrid, Milan, Paris, Stockholm and Zurich.
Global Banking: Global Loan Products, Global Corporate and Investment Banking, Global Payment Solutions, Global Leasing
Board Structure
Global Markets: Mortgages: Asset Backed Securitization Finance, and Commercial Real Estate; Global Rates: Non-Linear and Linear Rates, and Structured Funding Trading; Global Credit; Counterparty Portfolio Management; Global Sustainable Finance Group; Commodities; Global Foreign Exchange and Local Currency Trading; and Global Financing and Futures
Fernando Vicario (Chief Executive Officer)
Jonathan Lee (Chief Financial Officer)
Paul Donofrio (Chair)
Bernard Mensah
Elif Bilgi Zapparoli
Oliver Bussmann
Inès de Dinechin
Sally James
Nick Jordan
Rose McHugh
Additional Information
For further information please contact Investor Relations
Equity Investor Relations: Tel +1 704 386 5681 Email [email protected]
Fixed Income Investor Relations: Tel +1 212 449 6795 Email [email protected]
The information contained in this Factsheet is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities. The financial and other information contained in this Factsheet speaks only as of the particular dates referenced in the information or the dates the information was originally issued. This information may have become out of date as a result of later circumstances or events. None of BofA Europe, or its affiliates undertakes any obligation to, and each disclaims any duty
to, update this information. The information in the factsheet reflects the entity as at 01 April 2025.
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Disclaimer
Bank of America Corporation published this content on June 04, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 04, 2025 at 21:58 UTC.