Company

Bank of America

Official Name: Bank of America Corporation

Headquarters: Charlotte, NC, United States

Founded: 1998

Employees: 208,000

CEO: Mr. Brian Thomas Moynihan

show_chart NYSE: BAC -4.26%

Market Cap

$350.84 Billion

USD as of April 1, 2022

history Market Cap History

Company Description

The Bank of America Corporation, abbreviated as BofA, is a multinational investment bank and financial services company headquartered in Charlotte, North Carolina, with more than 200,000 employees. Tracing its origins to 1784, Bank of America has become an American leader in consumer banking with more than 4,600 branches and 15,900 ATMs. Bank of America also operates in corporate and investment banking, wealth management, and investment management.

Bank of America market capitalization evolution

Evolution of Bank of America Corporation market cap in the past 5 years

Market capitalizations are calculated from the opening stock price at the beginning of each month.

history Market Cap History of Bank of America Corporation

Detailed Description

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.

Wikipedia Introduction

The Bank of America Corporation (simply referred to as Bank of America; often abbreviated as BofA or BoA) is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco and took its present form when NationsBank of Charlotte acquired it in 1998. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the eighth-largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to the U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headquartered in San Francisco, California, Giannini acquired Banca d'America e d'Italia (Bank of America and Italy) in 1922. The passage of landmark federal banking legislation facilitated a rapid growth in the 1950s, quickly establishing a prominent market share. After suffering a significant loss after the 1998 Russian bond default, BankAmerica, as it was then known, was acquired by the Charlotte-based NationsBank for US$62 billion. Following what was then the largest bank acquisition in history, the Bank of America Corporation was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively (since renamed BofA Securities). Both Bank of America and Merrill Lynch Wealth Management retain large market shares in their respective offerings. The investment bank is considered within the "Bulge Bracket" as the third largest investment bank in the world, as of 2018. Its wealth management side manages US$1.081 trillion in assets under management (AUM) as the second largest wealth manager in the world, after UBS. In commercial banking, Bank of America operates—but does not necessarily maintain retail branches—in all 50 states of the United States, the District of Columbia and more than 40 other countries. Its commercial banking footprint encapsulates 46 million consu…

Source: Wikipedia, retrieved on April 4, 2022, 2:43 p.m.

Stocks & Indices

Bank of America Corporation has the following listings and related stock indices.


Stock: NYSE: BAC

Stock: BMV: BAC

Stock: Bovespa: BOAC34

Stock: BVS: BACCL

Stock: BVS: BAC

Stock: FSX: NCB

Stock: NYSE: BAC.PR.O

Stock: NYSE: BAC.PR.P

Stock: NYSE: BML.PR.L

Stock: NYSE: BAC-B

Stock: NYSE: BAC-E

Stock: NYSE: BAC-K

Stock: NYSE: BAC-L

Stock: NYSE: BAC-M

Stock: NYSE: BAC-N

Stock: NYSE: BML-G

Stock: NYSE: BML-H

Stock: NYSE: BML-J

Stock: NYSE: BML-L

Stock: NYSE: MER-K

Stock: OTC: BACRP

Stock: XETR: NCB

Product & Services

Consumer banking, corporate banking, insurance, investment banking, mortgage loans, private banking, private equity, wealth management, credit cards

Key People

Founder(s): Amadeo Giannini (Bank America) Hugh Mc Coll (Nations Bank)

Brian Moynihan (Chairman and CEO) Anne Finucane (Co-Vice Chairman) Bruce Thompson (Co-Vice Chairman)

Financials

Revenue: US$89.11 billion (2021)

Operating income: US$33.98 billion (2021)

Net income: US$30.56 billion (2021)


Total assets: US$3.085 trillion (2021)

Total equity: US$273.757 billion (2021)

Details

Headquarters:

Bank of America Corporate Center

100 North Tryon Street

Charlotte, NC 28255

United States

Phone: 704-386-5681