Bank of America Corp (BAC)

[ECole]

Important Q2 Earnings Highlights

- LAS expenses or legacy asset servicing expenses excluding litigation are down by nearly 800 million on a quarterly basis 
- Global banking revenues showed continues strength.
- Importantly customer activity remained strong with loans led by commercial loans up $10 billion.
- Time-to-required funding increased to 32 months.
- Remain on track to achieve $1.5 billion of new BAC quarterly savings by the fourth quarter of 2013.
- U.S consumer credit card retail spend for average active account is up 9% from the Q2 a year ago.

Earnings Transcript here
http://www.earningsimpact.com/Transcript/82144/BAC/Bank-of-America-Corporation---Q2-2013-Earnings-Call