Summary of key points of Bank of America Investor Day event

1. American Bank has set a series of new goals for its operations, including planning to increase its return on tangible common equity from about 15% to 16%-18% within three to five years, with an efficiency ratio target of about 40%. 2. Investment banking growth: The bank plans to increase its investment banking revenue by achieving a mid-single-digit compound annual growth rate. It hopes to achieve this goal by participating in larger transactions and playing a more significant role in mergers and acquisitions. 3. Trading revenue target: American Bank aims to increase its trading revenue to $27 billion in the next three to five years, and plans to achieve this goal by deepening its foothold in international markets. 4. AI investment and cost savings: The bank is heavily investing in AI - currently allowing investment bankers to use such tools to create project proposals for clients - and expects these investments to bring cost savings in the future. The CEO believes that artificial intelligence will drive a "new round of efficiency improvements." 5. Expanding loans and branches: The bank is sticking to its long-term strategy of expanding its physical branch network in the United States, with the goal of increasing the average loan balance from $196 billion to $225 billion in the medium term. Financial technology may weaken the dominance of large banks in checking accounts. 6. Entering the fund advisory business, aiming to attract high-performance stars to provide alternative assets worth $560 billion for Merrill Lynch clients, preparing for growth when the housing mortgage market recovers, seeking to accumulate $1 trillion in assets in the consumer investment sector, and internal growth is the basis of past performance.