““In 2010, we had 285,000 people. Today we have 212,000 people. The numbers of customers are larger. The numbers of interactions are through the roof. The size of the loan book is bigger. The size of the deposit book is almost 3X bigger…Hugely bigger company, but with 30% fewer people. That was all by applying technology.””
One of the long points I made for $BAC is they will cut employee cost… The erstwhile pundit of this board was arguing $BAC is doomed, they are not earnings this much on assets, yada, yada, yada…
In the last 10 years $BAC 200%, and in the last 5 years it 88% excluding dividends…