Bank of america | US bank | Bank in america | bank

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.

J.P Morgan is one of the oldest and best reputed financial bank in the world. This bank is located in the heartland of the COLUMBUS, OHIO. They have served the banking services in more than 60 countries. It is a leader in financial services with assets of $2,135,796,000 and the largest market capitalization and third largest deposit base U.S. banking institution behind Wells Fargo and Bank of America. The president, C.E.O and chairman of managing board of JP Morgan chase and Company of America is Mr. James L. Dimon. As of the end of 2009, the hedge fund unit of JP Morgan Chase is the largest hedge fund in the United States with $53.5 billion in assets. Formed in 2000, when Chase Manhattan Corporation merged with JP Morgan and Co, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and governmental clients. The company’s main businesses include investment and private and corporate banking, asset and wealth management, insurance services, as well as treasury and securities services.

The JP Morgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions. The Chase brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking. The activities performed by the company are oriented towards their clients. The company also produces the best products and delivers it at the lowest possible cost. The bank have employed over 220,000 employees for its better performance in serving million of consumers in USA and globally. JP Morgan Chase is one of the Big Four Banks in the United States, along with Bank Of America, Citigroup and Wells Fargo.

It provides the facilities of everyday banking such as checking and deposit account management, credit and debit card issuance, ATM services and channels for online and telephone banking, consumer, education and home lending solutions, mortgage and auto loans to the individual clients of this bank, whereas the clients of the company from the higher walk of life may take advantage of specially-tailored asset and private wealth management solutions and investment advisory services. The corporate clients of the company may choose from a set of corporate banking services, including market analysis, corporate investment risk management, corporate lending, while the firm’s Treasury & Securities Division offers a set of treasury services including global trade assistance, core cash and liquidity management, import and export advisory, and investment consulting. Through partnerships with some of the biggest lenders and charities in the world, JP Morgan has financed a significant number of public projects in the spheres of education, sports, health care, environment, science, and technologies.

JP Morgan also supports the small and middle sized enterprises. So, for the support in small and middle sized enterprises, the financial experts of JP Morgan offer a set of integrated banking services, including leasing solutions for the purchase of materials and equipment, business crediting and real estate financing, financial support for business projects, and market advisory services.

Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998. Citigroup Inc. has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide through a network of about 16,000 home based and international offices. Citigroup is the third largest bank holding company in the US with $2,002,213,000 assets. It’s headquarter is in New York. It has succeeded to establish its branches in different parts of the world. It has spreads in the place like Australia, Bangladesh, Indonesia, Puerto Reco,Jamaica, Zambia(in Africa),Austria, United Arab emirates, Poland and of course in its own country New York. Citi is established in different brands including Citi bank, Citi Financial, CitiMortgage and Smith Barney. Its largest shareholders include funds from the Middle East and Singapore. The citigroup offers insurance,credit card and investment products to its clients. Their online services division is among the most successful in the field, claiming about 15 million users. The citigroup provides the facilities of the automated teller machine,credit cards and automated banking card.Citigroup is one of the Big Four Banks in the United States, along with Bank of America, JP Morgan Chase and Wells Fargo.

Citi group have two major branches. They are Citicorp and Citi Holdings.
a. Citi Corp:It fulfills the banking needs of the institutional clients ,provides the transaction services, securities and fund management, market making solutions, underwriting and corporation loans and so on.
b. Citi Holdings:This branch of citigroup is now engaged in brokerage and asset management.

Citi’s financial experts are pleased to offer the full range of retail banking services, including checking and savings accounts, an online banking channel and a call center available 24/7; the full range of credit and debit cards, including credit cards for small businesses, financial need analysis, individual retirement accounts, investment and private banking services, personal, student and auto loans, mortgage loans, and commercial real estate loans to their individuals clients. Citi Group’s investment banking division provides financial advisory and capital raising services to corporations, financial and state institutions, as well as mergers and acquisitions supervision and advisory, restructuring solutions, and equity management. Citi’s corporate banking business provides cash and foreign exchange management, trade finance and custody clearing and loans to large international corporations. The group’s commercial banking unit caters for the banking needs of small and medium sized enterprises, providing them with a wide range of financial services including working capital management, commercial lending, foreign exchange and currency hedging services, market investments, etc.