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How Technology Spending Is Helping Bank of America

How Technology Spending Is Helping Bank of America

Bank of America’s (BAC) spending has increased at a far slower pace than its revenues in recent quarters. BAC’s non-interest expenses declined 1.0% to $13.9 billion in the first quarter with an efficiency ratio of 60.0%, which was better than the industry average. The bank’s spending has increased in technology to garner better operating efficiency, penetration, and improved margins.