Bank of America: a Company Analysis

Bank of America Corporation:

A Company Analysis

Chasity Thomas

2012 Fall Semester

December 05, 2012

Company Profile

Company Introduction

Bank of America is an American based company and was founded in North Carolina when North Carolina National Bank began a series of acquisitions that eventually acquired thousands of banks. (1)

Company Nationality/Origin

Bank of America Corporation is a multinational bank and financial institution that has its headquarters in Charlotte, North Carolina. The company is the second largest bank holding company in the United States through its assets, the fifth largest company in the United States through revenue, and in 2010 Forbes listed it as the third biggest company in the world. Bank of America reaches customers through 5,800 branches and 18,00 ATMs, and reaches approximately 20 million online users. Bank of America is also located in more than 150 countries. (2)

Company Markets

In the banking industry commercial banks serve as intermediaries for people saving and borrowing money. Bank of America is a part of the money center banks industry. (3) They offer a safekeeping department that provides a broad range of custody and securities clearing services, which frees their customers from the details of daily securities management while providing protection for the securities on deposit in the safekeeping account. Bank of America also has leasing offers and financial solutions for energy projects in markets such as distributed generation and demand-side management. They also offer a wholesale banknote service that facilitates the import and export of U.S. dollars and other foreign currencies for financial institutions. (4) Bank of America also allows its customers both banking and savings accounts, CDs, credit and debit cards, heath saving account, IRAs, and mortgage options.

Company Revenues and Profits

In 2011 Bank of America had revenue of 93.8 billion dollars, which had a negative .03% of what was expected...