Unless otherwise noted, business segment revenue, net of interest expense, is on an FTE basis.Consumer and Business Banking (CBB)
|Three Months Ended||Year Ended|
|(Dollars in millions)||December 31 2013||December 312012||December 31 2013||December 312012|
|Total revenue, net of interest expense, FTE basis||$||7,497||$||7,401||$||29,867||$||29,790|
|Provision for credit losses||427||1,078||3,107||4,148|
|Return on average allocated capital 1, 2||26.03||%||—||%||21.98||%||—||%|
|Return on average economic capital 1, 2||—||23.46||—||23.12|
- Average deposit balances for the quarter of $528.8 billion increased $44.7 billion, or 9 percent, from the year-ago quarter. The increase was driven by growth in liquid products in the current low-rate environment and the $20 billion average impact of deposit transfers primarily from Global Wealth and Investment Management (GWIM). The average rate paid on deposits declined to 8 basis points in the fourth quarter of 2013 from 16 basis points in the year-ago quarter, due to pricing discipline and a shift in the mix of deposits.
- The number of active mobile banking customers increased 20 percent from the year-ago quarter to 14.4 million.
- Total Corporate U.S. Consumer Credit Card (including balances in GWIM) retail spending per average active account increased 6 percent from the fourth quarter of 2012.
- Total Corporate U.S. Consumer Credit Card net credit loss rate for the fourth quarter of 2013 was 3.19 percent, the lowest since the first quarter of 2006.
- Return on average allocated capital increased to 26.03 percent in the fourth quarter of 2013 from 23.55 percent in the third quarter of 2013.