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Bank of America Global Overview

1. Bank of America is the largest financial institution in the US, with nearly $2.2 trillion in assets, operating over 5,800 banking centers and 17,000+ ATMs. Notable accomplishments include inventing the first bank credit card in 1975 and acquiring Security Pacific Corporation, which made it the largest bank in the nation. 2. The bank has heavily invested in corporate and investment banking, locating key operations in Charlotte and New York City with over $600 million invested. 3. Internationally, Bank of America has strengthened partnership ties with three major Indian IT companies, and wholly owns a subsidiary in Hyderabad, India, which performs some back office operations.

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122 views16 pages

Bank of America Global Overview

1. Bank of America is the largest financial institution in the US, with nearly $2.2 trillion in assets, operating over 5,800 banking centers and 17,000+ ATMs. Notable accomplishments include inventing the first bank credit card in 1975 and acquiring Security Pacific Corporation, which made it the largest bank in the nation. 2. The bank has heavily invested in corporate and investment banking, locating key operations in Charlotte and New York City with over $600 million invested. 3. Internationally, Bank of America has strengthened partnership ties with three major Indian IT companies, and wholly owns a subsidiary in Hyderabad, India, which performs some back office operations.

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laxmee262
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© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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By:

Jyoshna
Hemanth varma
Hima deepthi
John
Arjun
karthik
INTRODUCTION
Bank of America
Type: Public

Founded: Charlotte, North Carolina (1874)

Head quarter: 100 North Tryon Street, Charlotte, North Carolina

Area Served: Worldwide

Key people: Charles O.Holliday (Chairman)


Brian Moynihan (President & CEO)
Continue….
• Financial services company
• Largest bank holding company in US
• Serves clients in more than 150 countries
• 3rd best company in the world(Forbes)
• As of 2010, Bank of America is the 5th largest
company in the United States by total
revenue,
• Bank of America generates 90% of its
revenues in its domestic market
Financial summary year ending December, 2009

Sales: $150,450 Mn
Income growth: 56.6%
Revenue: $150.45bn
Paid up capital : $231,444 mn
Bank of America is the second largest in market
Capitalization $128.23 bn
Industry and product offering
• Banking
• Financial services
• Investment services

Products
• Finance and insurance
• Retail ,commercial and private banking
• Investment banking
• Private equity , mortgages , and credit cards
Global operations
• Bank of America has many branches in Asia,
Europe, Middle east, Latin America and
Caribbean.
• Huge customer base • Weak wholesale banking
• Diversified range of operations
banking and non banking • Not as nimble as small
financial services regional operators
• Innovation in products • The company has lost the
and services ability to compete head to
• Convenience head in an environment
• Brand recognition where it lacks a size
advantage
• Strong internet banking
• Expansion in • Financial economic
international markets turmoil .
• Further consolidation in • Due to globalization
the banking industry more and more banks are
• Merill lynch acquisition entering the US markets
• Countrywide home loans • Increase in restrictions in
acquisition capital market and
government regulations
When did it venture into India
• First Indian branch of the bank of America was
started in the year 1960 in Hyderabad.
• Later it started four more branch's by the year
1999 in Mumbai, Gurgaon, Newdelhi.
Objectives of venturing in to India
• To setup the back office operations
• To set up the software development projects
• To tap the huge potential in terms of human
intellect In India
• To increase its operations to loan process
account managing etc
Comment on mode of entry
• Risks: it is a cumbersome process ,involves
huge process must case all the said routes to
enter
• Involves huge costs in setting up to the
infrastructure
• Consumes lot of time in framing the policies in
accordance with rules and regulations laid
Benefits:
though involves huge costs and consumers lot of
time it paves an avenue for setting the
business in the environment
Awareness about the FDI policies and helps in
future for further growth
PEST factors
• Political factors
• Environmental factors
• Social factors
• Technological factors
1. Charlotte-based Bank of America Corp., the nation's largest financial
institution as measured by

 Deposits $991,611mn

 Controls nearly $2,223,299 mn in assets

 Operates nearly 5,800 banking centers

 More than 17,000 ATMs in 30 states and the District of Columbia.


Two of its most notable accomplishments were :

 The 1975 invention of the first bank credit card.

 The acquisition of Security Pacific Corporation, which turned the bank into
the largest in the nation.

2. Bank of America has invested heavily into corporate and investment banking.

3. Bank of America also invested over $600 million into its corporate and
investment banking operations, located in Charlotte and New York City.

4. Internationally, Bank of America has strengthened its partnership ties with


three IT companies located in India (Infosys, Tata Consultancy Services (TCS), and
Accenture).

5. Bank of America also has wholly owned subsidiary in Hyderabad, India, The
Continuum Solutions Pvt. Ltd., which performs some low-value added, relatively
expensive back office operations, such as transaction and high-end complex
processing.

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