Bank Of America Analysis

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Bank of America I. Overview Bank of America is considered as one of the world's largest financial institutions. It is among the world's leading wealth management companies with more than $2 trillion under management and is a global leader in corporate and investment banking and trading across a broad range of asset classes. Its clients are individual consumers, government, small- and middle-market businesses, large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. There are approximately 57 million consumers and small business relationships with approximately 5,900 retail banking offices and approximately 18,000 ATMs. About 29 million active clients are using online banking access. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company is operated in more than 40 countries that give more advantage convenient for its clients (Overview, Investor.bankofamerica.com). There are a lot of heavy competitors in banking industry such as BB&T Corporation, KeyCorp, Royal Bank of Canada, Citigroup, JPMorgan Chase, Wells Fargo, etc.…The industries where Bank of America Corporation competes are banks and Credit Unions, financial services, asset management, financial planners and investment advisers, mutual fund management and investment banking(hoovers.com, Bank of America Competitors). II. SWOT Analysis 1. Strengths • Bank of America has built a great brand image with superior customer service which gives its customer high satisfaction • Diversification of variety of financial service and products as well as strong internet banking system give it a major strength in attracting customers • It provides the most convenient access for its clients such as online

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