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The bank of America is the number one bank in terms of assets. According to the report of 2010, its asset is $2,340,667,014. The bank is also recognized as largest US commercial bank by deposit and the second largest bank by market capitalization. Mr. Kenneth d. Lewis is the present C.E.O and President of the Bank of America who command to serve the client to an army of over 280,000 officials throughout the world. CHARLOTTE, North Carolina is recognized as the home to bank of America. The central bank of an America is Federal Reserve Bank. So, the Bank of America performs the function under the recommendation of the Federal Reserve Bank. According to the report prepared on August 2009 on deposits, the bank of America holds 12.2%of all U.S deposits. The Bank of America is recognized as one of the Big Four Banks of the United States, along with Citigroup, JP Morgan chase and Wells Fargo — its main competitors.
The banks serve the clients in more than 150 countries and have relationship with 99% of the US. To promote an environmentally-friendly business, it has committed to provide $20 over next 10 years. It has reached the various locations of globe to provide its services. It has employed over 205,000 employers for its better performance. The bank is serving about 53 million consumers across the USA through the network of 6000 retail outlets and by providing the facility of 18000 ATM in different places. It also provides the online banking system over 29 million active users. The main businesses of Bank of America Corp include consumer, corporate, investment banking, and investment and wealth management.
The bank of America offers the full range of retail banking services such as checking and savings accounts, deposits, credit and debit cards, consumer and auto loans, mortgage loans and refinancing solutions, pension plans and insurance solutions to their individual clients. Bank of America offers tailored corporate banking services, encompassing asset-based financing and asset management, wealth and investment management and advisory services, equities, foreign exchange and futures management, industrial leasing solutions, merchant services, supervision and consulting on mergers and acquisitions to its corporate and institutional clients. Bank of America has been engaged in the financing of many public and public-private initiatives and projects in the spheres of education, health care, sports, natural resources management, environmental care, non-for-profit organizations, etc in cooperation with governments and other state institutions around the world.
The bank of America mainly supports the small and medium sized enterprises. So, for the development in the small and medium sized enterprises, the bank of America offer the variety of business banking solution including business accounts, debit and credit cards, payments and money transfer assistance, business consulting, tax advisory and project financing services, online business suite, market planning, electronic commerce strategies and loans for healthcare practitioners.
The banks serve the clients in more than 150 countries and have relationship with 99% of the US. To promote an environmentally-friendly business, it has committed to provide $20 over next 10 years. It has reached the various locations of globe to provide its services. It has employed over 205,000 employers for its better performance. The bank is serving about 53 million consumers across the USA through the network of 6000 retail outlets and by providing the facility of 18000 ATM in different places. It also provides the online banking system over 29 million active users. The main businesses of Bank of America Corp include consumer, corporate, investment banking, and investment and wealth management.
The bank of America offers the full range of retail banking services such as checking and savings accounts, deposits, credit and debit cards, consumer and auto loans, mortgage loans and refinancing solutions, pension plans and insurance solutions to their individual clients. Bank of America offers tailored corporate banking services, encompassing asset-based financing and asset management, wealth and investment management and advisory services, equities, foreign exchange and futures management, industrial leasing solutions, merchant services, supervision and consulting on mergers and acquisitions to its corporate and institutional clients. Bank of America has been engaged in the financing of many public and public-private initiatives and projects in the spheres of education, health care, sports, natural resources management, environmental care, non-for-profit organizations, etc in cooperation with governments and other state institutions around the world.
The bank of America mainly supports the small and medium sized enterprises. So, for the development in the small and medium sized enterprises, the bank of America offer the variety of business banking solution including business accounts, debit and credit cards, payments and money transfer assistance, business consulting, tax advisory and project financing services, online business suite, market planning, electronic commerce strategies and loans for healthcare practitioners.
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