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Bank Of America Research Paper

503 Words3 Pages

In this paper I chose Bank of America Corporation as my investment banking house. Bank of America is one of the largest multinational financial and banking service companies. Bank of America offers a large array of banking services. Some of the services include banking investments, mortgages, trading, cards and brokerages. Bank of America is operating in 40 countries across the world. Bank of America is largest bank in United States. According to the 2010 annual report the bank has more than $150.450 billion revenue and the net income is $2.238 billion. This is easily the largest employer in the banking sector as well with more than 286,951 employees in 2010. The bank is quite healthy as the total asset are worth more than $2.265 trillion, with equity just $231.444 billion. …show more content…

According to the Forbs and Fortune 500, BOA is third best organization working in the banking sector in the world. The share of banks in the local deposit market is more than 12.2% too. The BOA holding includes the prestigious institutions like Merrill Lynch too, which it acquired in 2008. BOA was founded in 1904 by Amadeo Giannini as Bank of Italy. This humble organization in San Francisco with aim of providing banking services to immigrants. In 1906 during the San Francisco was struck with earthquake. The fire burnt the building of organization, but the bank started working soon after with the funds in the vaults that survived. The start of the banking sector was quite simple. The first office of BOA was quite humble as there were only two makeshift tables being created by the barrels. The bank grew and in 1918 the bank changed name as Bank of America and Italy. The next chapter in BOA history happened in 1927 when it became the largest institute after consolidation with Liberty bank of Los

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