Bank of America (US)
Bank
of America is one of the two biggest financial institutions in the US,
offering a broad range of banking and general financial services for
individuals and corporations. However it is best known as the country's
leading retail bank, the clear #1 by customer deposits, and now also the leader in
credit card lending and small business banking. As a result of a new deal
to acquire struggling mortgage lender Countrywide Financial it is likely
to
become the #1 in home loans as well by the end of 2008. A bold merger with
rival NationsBank at the end of
the 1990s established it as the country's first truly national bank, with
a presence stretching from coast to coast. Since then, the group has
consolidated its presence and extended its footprint into a broader range of financial services through
a series of bold acquisitions like that of Countrywide. Other major purchases have included FleetBoston
in 2004, credit card giant MBNA in 2006, and wealth manager US Trust and
retail bank LaSalle in 2007. Click here to find out
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Competitors: see Financial & Insurance Sector for other companies
Subscribers may access the following website links:
Bank of America
website
|
MBNA |
US Trust |
|
Countrywide Financial |
Columbia Management |
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