Consumer and Business Banking (CBB)
|Three Months Ended||Year Ended|
|(Dollars in millions)||December 31 2012||December 312011||December 31 2012||December 312011|
|Total revenue, net of interest expense, FTE basis||$||7,204||$||7,606||$||29,023||$||32,880|
|Provision for credit losses||963||1,297||3,941||3,490|
|Return on average equity||10.48||%||9.30||%||9.92||%||14.07||%|
|Return on average economic capital 1||23.94||22.08||23.01||33.52|
|At December 31, 2012||
|Client brokerage assets||$||75,946||$||66,576|
- Average deposit balances increased $26.6 billion from the year-ago quarter, driven by growth in liquid products in a low-rate environment. The average rate paid on deposits declined 5 basis points to 16 basis points in the fourth quarter of 2012 from the year-ago quarter due to pricing discipline and a shift in the mix of deposits.
- During the fourth quarter of 2012, purchase volumes per average active credit card account rose 7 percent from the year ago quarter; the number of BankAmericard Cash Rewards cards increased by nearly 24 percent in the fourth quarter of 2012 to a total of 2.1 million cards since the product was launched in the third quarter of 2011.