Bank of America Kendra Emery BAC December 6 th 2005 History of the Company Amadeo Peter Giannini began banking in San Francisco with the Bank of Italy The Bank catered to small farmers mostly of Italian descent. Bank of America grew as California grew
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Bank of America
December 6th 2005
History of the Company
Teams through the 2008 Games in Beijing, China.
-Has given $230 billion the past 5 years for community development efforts nationwide
-Goal for the next 10 years is $750 billion
Three Cayman Islands companies that invested in the Italian dairy and juice conglomerate Parmalat SpA have sued Bank of America claiming the bank was involved in a fraud that resulted in losses of nearly $1 billion.
Bank of America to cut online stock trade fees
Bank of America retail brokerage unit said on December 1st that it was cutting online stock-trading fees for customers by up to 75 percent, to as low as $5 a trade
Cayman Island Firms Sue Bank of America
Don't be afraid of the big bad banks
Analysts research on Bank of America’s potential, says there are plenty of reasons for the big banking business, and their stock, to thrive.
-More than 175,000 associates providing financial products,
services, ideas, and solutions to customers in all 50 states
-Have relationships with 97% of the fortune 500 companies in U.S.
-Relationships with 82% of the fortune 500 companies worldwide
-strengthened their diversity and ability to cross sell
-largest proprietary ATM network in the nation
-Company has reported losses in the equity investment department
-Must increase productivity in other areas
-Will have 40 million active credit card accounts
-Becoming the Wal-Mart of banking with one stop shopping
-6 million new clients
-In the 26 out of the 30 fastest growing metro areas in the country, Bank of America has the largest market share
-Volatility of exchange rates, market rates, and foreign economies
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