Without assuming the smoothness, monotonicity and boundedness of the activation functions, some novel criteria on the existence and global exponential stability of equilibrium point for delayed bidirectional associative memory (BAM) neural networks are established by applying the Liapunov functional methods and matrix-algebraic techniques. It is shown that the new conditions presented in terms of a nonsingular M matrix described by the networks parameters, the connection matrix and the Lipschitz constant of the activation functions, are not only simple and practical, but also easier to check and less conservative than those imposed by similar results in recent literature.