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33 - Bank of America

Banc of America is a large global bank with a presence in over 150 countries. It has been operating in India since 1964 and currently has 5 branches. The bank aims to provide excellent service and be the world's most admired company. It has four main divisions in India covering corporate banking, investment banking, private equity, and business process outsourcing. Banc of America offers internship and job opportunities for Indian students, with a focus on areas like relationship banking, treasury, and equity research.

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Saurabh Sinha
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40 views2 pages

33 - Bank of America

Banc of America is a large global bank with a presence in over 150 countries. It has been operating in India since 1964 and currently has 5 branches. The bank aims to provide excellent service and be the world's most admired company. It has four main divisions in India covering corporate banking, investment banking, private equity, and business process outsourcing. Banc of America offers internship and job opportunities for Indian students, with a focus on areas like relationship banking, treasury, and equity research.

Uploaded by

Saurabh Sinha
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Anurag Singh 5anurags, 6710 Company Profile: Banc of America

Mission To provide better service and become the worlds most admired company

Key Statistics First Indian branch opened in 1964 in Bombay, currently 5 branches Total asset base: $1.6 billion Among top 5 corporations worldwide in terms of earnings (2004) 2nd largest retail bank in US, and among top 10 in the world Extensive global presence with offices in 31 countries serving clients in more than 150 countries, and approximately 6,400 associates in major business centers in the Americas, Asia and Europe. Named Bank of the Year in the U.S. for the second consecutive year by The Banker (9/04). 3rd in lead investment banking relationships in 2004 (independent research firm). Ranked #1 among MegaBanks in Fortune magazines Worlds Most Admired Companies By Industry List (3/05).

Banc of America: Indian Structure 4 Divisions Corporate Bank: It provides Trade services, Import/Export financing, Institutional banking, Risk Management tools, Fund management and Investment services Banc of America Securities India Pvt. Ltd Banc of America Equity Partners: Provides development capital to companies in high growth industries Continuum Solutions: To manage the off-shoring of back-end processes to India 4 Lines of Business Global Markets Group: Advisory services for Mergers and Acquisitions

Client management group: Provides credit and lending services to clients Portfolio management group: Debt and equity research services Global treasury management: Helps client manage their cash flows

Financial Standing The profits in 2004 were 64.17 Cr as compared to the figure of 86.6 Cr in 2002. In terms of profitability, it is the world's fifth most profitable company. India accounts for 24 % of total exposure in the Asia-Pacific region. Summers & Beyond 1 person selected each year Last years project was on Relationship Management, which basically dealt with equity research. WAC, Excel and first year accounting principles were all that were needed for the project. Freedom to do the project on your own pace No PPO Stipend offered (last year): 15K + Air travel + Free lunch 5 PGP-3s who are currently working as regular employees of Banc of America. Good profile and good package. Hiring is done mainly for relationship banking, treasury or equity research Scope for foreign placement. They have offices in NY and other big financial centers

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