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2. Financial Review
Marc Oken
Chief Financial Officer

3. 2004 Financial Results
Dollars in billions, except per share data
2004 2003
Revenue $49.6 $38.6
Expense 27.0 20.2
Provision 2.8 2.8
Net Income $14.1 $10.8
EPS 3.69 3.57
Return on Equity 16.8 % 22.0 %
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4. Business Segment Results
2004 vs. 2003 - Dollars in millions
Net Earnings Revenue Return on
Income Growth Growth Equity
Global Consumer
& Small Business $6,548 14.8% 28.3% 19.9%
Global Business &
Financial Services 2,833 92.6 48.8 15.3
Global Capital Markets
& Investment Banking 1,950 8.7 8.6 19.5
Global Wealth &
Investment Management 1,584 28.4 46.8 20.2
Total Company $14,143 30.8% 28.7% 16.8%
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5. Global Consumer & Small Business Banking Highlights
• Improvement in Banking Center Customer Delight to 71%
• Organic deposit growth of 11%
• Grew net new checking accounts by 2.1 million and
net new savings accounts by 2.6 million
• Managed card outstandings up 16%
• Sales playbook in Northeast results in 125% improvement in
sales growth
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6. Global Business & Financial Services Highlights
• Growth in targeted clients of 7%
• Deepened existing relationships, revenue per client up 3%
• Strengthened efficiency ratio to 40%
• Strong risk management
• Loan growth of $7 billion, double-digit growth in:
– Commercial Real Estate
– Dealer Financial Services
– Retail Finance
– Asia
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7. Global Capital Markets & Investment Banking Highlights
• Trading revenue up 7%
• Named best North American cash management and payments
provider
• Leading industry positions
– Top foreign exchange bank and derivatives provider
– Lead arranger of syndicated loans
– Top three in asset-backed and mortgage-backed securities
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8. Global Wealth & Investment Management Highlights
• Added 670 Premier Banking Client Managers
• Customer Delight improved to 56% in Private and Premier Banking
• Columbia Funds broadly improved performance standings
• Initiatives in place to more fully penetrate Bank of America customer
base
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9. Fleet Transition Highlights
• Introduced Bank of America brand to the Northeast
• Added 184,000 net new consumer checking accounts and 196,000
net new savings accounts
• Improved sales per FTE levels
• Converted 121,000 former Fleet consumer clients to Premier Banking
• Customer delight rose throughout 2004
• Cross-footprint lobby and ATM activity steadily increased
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10. 2005 First Quarter Results
Dollars in billions, except per share data
1Q2005 1Q2004
Revenue $14.2 $9.7
Expense 7.1 5.4
Provision 0.6 0.6
Net Income $4.7 $2.7
EPS 1.14 .91
Return on Equity 19.3 % 22.2 %
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11. First Quarter Highlights
1Q2005 vs. 4Q2004
• Retail deposits up annualized 13%
• Commercial loans up annualized 7%
• Consumer loans up annualized 7%
• Record trading
• Best credit quality in years
• Efficiency ratio below 50%
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12. Operating Earnings Per Share
GR
12. 6 % CA
$3.80
$3.57
$2.95
$2.36 $2.47
2000 2001 2002 2003 2004
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13. Attractive Dividend Growth
$1.70
th
d grow
alize
annu
13%
$0.07
1977 2004
• 27 consecutive years of dividend increases
• 13% annualized dividend growth rate since 1977
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14. Total Shareholder Return in 2004
S&P 500 Index 10.8%
S&P Financial Index 10.9%
Bank of America 21.4%
Wachovia 16.8%
US Bancorp 10.4%
JP Morgan Chase 10.0%
Wells Fargo 8.9%
Citigroup 2.7%
0% 5% 10% 15% 20% 25%
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15. Total Return to Shareholders
Ended 12/31/04
Annualized Total Shareholder Return
1 YEAR 3 YEAR 5 YEAR 10 YEAR
21% 21%
19% 19%
18%
12%
11%
10%
BAC
BAC
BAC
BAC
7%
5%
4%
-2%
Bank of America Large Cap Peers S&P 500 Index
(1) Average annual total return to shareholders equals average annual growth rate of stock plus dividends (reinvested quarterly)
15 (2) Large cap peers include Citigroup, JP Morgan, US Bancorp, Wachovia, Wells Fargo and Fifth Third.

16. Most Profitable Companies in the World
Dollars in billions
Company 2004 Earnings
1. ExxonMobil $25.3
2. Royal Dutch Shell 17.6
3. Citigroup 17.1
4. General Electric 16.6
5. Bank of America 14.1
6. BP PLC 14.0
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17. Financial Recognition
S&P Dividend Aristocrats
BusinessWeek 50
Fortune Most Admired
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