A Bank's Core Competitiveness: The Importance of Deposits on the Balance Sheet
BAC Bank Of America Corp
$54.32 +1.32%
View chart & analysis → - 1A bank's true moat lies in the deposit aspect of its balance sheet.
- 2Bank of America reported that 92% of checking account customers used them as primary accounts during the second quarter.
- 3SoFi Technologies recorded a deposit growth rate of 1,585% from mid-year of this year to June 30, 2026.
So what's the key point?
92% of Bank of America customers use their accounts for primary transactions. SoFi Technologies saw its deposits increase by 1,585%.
Source The Motley Fool +1 · View original ↗
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