Bank of America

American multinational banking and financial services corporation
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inception
1923
November 3, 1930
alias
Bank of America Corporation
BoA
BofA
total assets
2,144,000,000,000 United States dollar
point in time
2015
total liabilities
1,888,000,000,000 United States dollar
total revenue
83,416,000,000 United States dollar
point in time
2015
net profit
15,888,000,000 United States dollar
point in time
2015
market capitalization
232,000,000,000 United States dollar
point in time
2017
parent organization
No Value
headquarters location
employees
2017AprilJulyOctober2018204k206k208k
204,000
point in time
2018
209,000
point in time
2017
IPv4 routing prefix
171.128.0.0/10
start time
February 1, 1995
171.192.0.0/13
start time
February 1, 1995
171.200.0.0/14
start time
February 1, 1995
171.204.0.0/15
start time
February 1, 1995
171.206.0.0/16
start time
February 1, 1995
located at street address
100 North Tryon Street, Charlotte, NC, 28255 (english)
official website
language of work or name
media
ISIN
US0605051046
MAC Address Block Large ID
00D076
common equity tier 1 capital ratio (CETI)
11.6 percent
point in time
December 31, 2018
Commons category
Bank of America
Wikipedia creation date
10/23/2003
Wikipedia incoming links count
Wikipedia opening text
The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company headquartered in Charlotte, North Carolina, with central hubs in New York City, London, Hong Kong, Minneapolis, and Toronto. Founded in San Francisco, Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. It is the second largest banking institution in the United States, after JPMorgan Chase. As a part of the Big Four, it services approximately 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, and JPMorgan Chase. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided Italian immigrants who faced service discrimination various banking options. 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 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[update]. 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 consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs). The bank's large market share, business activities, and economic impact has led to numerous lawsuits and investigations regarding both mortgages and financial disclosures dating back to the 2008 financial crisis. Its corporate practices of servicing the middle class and wider banking community has yielded a substantial market share since the early 20th century. As of August 2018[update], Bank of America has a $313.5 billion market capitalization, making it the 13th largest company in the world. As the sixth largest American public company, it garnered $102.98 billion in sales as of June 2018[update]. Bank of America was ranked #24 on the 2018 Fortune 500 rankings of the largest United States corporations by total revenue. Bank of America was named the "World's Best Bank" by the Euromoney Institutional Investor in their 2018 Awards for Excellence.
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BOFAUS3N
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number of subscribers
506,798
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