Bank of America is a large corporate entity with a global presence. The purpose of this discussion is to explore the company's operations in the United States and the United Kingdom. This discussion will identify the full range of products Bank of America offers both in the United States and the United Kingdom. In addition the paper will describe the company's market, structure and competitive environment. Let's begin our discussion by taking a look at Bank of America's Domestic and UK Operations.
Bank of America in the U.S. And the UK
According to Multexinvestor Bank of America became a corporation in 1968. Bank of America is headquartered in Charlotte, North Carolina.
Bank of America currently has facilities throughout the country in states that include; Virginia, North Carolina, the District of Columbia, Florida, New Mexico, Nevada and Arizona. (BAC Full Description) The company operates in several locations in the United Kingdom including London, Bank of America is one of the largest financial institutions in world and serves millions of customers a day in the United States. Although the company operates in the United King its operations are on a much smaller scale. In fact most of the company's profits are made domestically.
The Graph above depicts Domestic and International performance in the year 2002. As you can see from the graph, Bank of America's net income from domestic operations makeup the largest amount. While the portion of Net income gained from operations in Europe make up only a small percentage for the company.
The graph below depicts the United Kingdom's exposure exceeding one percent of total assets.
Structure
Multex explains that the company's domestic and global operations consist of four segments which include; asset management, commercial and consumer banking, equity investment and global corporate investment banking. (BAC Full Description) The company's structure exists in this way so that the needs of various clients can be met. For instance, the needs and desires of a corporation can differ greatly for the need of personal consumers. The corporation may need access to capital markets while the personal consumer may only need a checking account. This four way structure ensures that the needs of both types of client are met.
Range of Products and Services
The company has a plethora of services that it offers in the United States...
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