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Bank Of America Executive Summary

945 Words4 Pages

Bank of America is known for a well know bank but also known for their stocks. If you located in Georgia you would at least one or two banks in one city. If you were to google this bank they are known for catering to their customer. To ensure they have access to every portion of the bank. This past year the company’s growth has had an increase. In November 2017 the revenue increases to $3.9bln. In the previous years, the banks revenue has been troubling to see any performance. They haven’t been growth this high in years. The year 2017 was a huge change for the company. It has been a rick for stockholder invest to the company’s past. This decrease has been according since the year 2015. Today, the bank revenue is higher than ever but the question …show more content…

The world’s renowned financial institution Bank of America has a full range of financial products/ services from asset management to investing & banking, to address the growing and changing needs of the customers” ( Bhasin, 2018). Bank of America strategy is to focus more on their customer to drive their revenue. “It uses selective targeting strategy to target the particular set of customer segments and mobilize maximum business out them through cross-selling and up-selling” ( Bhasin, 2018).
“Bank of America accounting practices has developed an entire line of financing products dedicated exclusively for the accounting industry which include capital for practice mergers and acquisitions, office improvements and expansion, business debt consolidation, equipment financing, lines of credit, partnership buy-ins, commercial real estate and standalone consulting fees” (CPA Financing Interview with Bank of America Practice Solutions, 2014).
“The financial statements have been prepared under the historical cost convention, as modified to include certain assets and liabilities at fair value. The Company does not maintain historical cost information on items at fair value as this is not relevant to the operation of the business” (Annual Report and Financial Statements, 2018). The company key ratios are based on probability, growth, cash flow, financial health, and efficiency …show more content…

1). The market share of the banks have been shrinking due to emergence of non-bank mortgage lenders in the United States of America which is attributed to the new banking regulations with tight capital requirements, enhanced scrutiny of banks and heft penalties for the defaulters (Nuiry, 2016: Nov.

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