Bank of America (BAC) performed very well in 2017. Many seeking alpha articles have discussed its top line performance in detail and I will only briefly summarise the results, focusing instead on what others have missed.

Bank of America has been a story of a sustained improvement in performance, both in absolute terms and relative to its peer group. The trend of historic underperformance versus its peers ended in 2017 and its underlying key financial metrics started to converge to that of its peer group. This has been recognised by the market and Bank of America saw strong stock price performance in 2017.

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