Bank of America Corp. is the largest financial services company in the world, largest bank by assets, second largest commercial bank by deposits, and third largest by market capitalization in the United States. Also, Bank of America is the number one underwriter of global high yield debt, the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions
Bank of America has also invested in opening new branches in India, particularly Mumbai. Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. On September 15, 2008, Bank of America announced its intentions to purchase Merrill Lynch & Co., Inc. in an all-stock deal worth approximately $ 50 billion, about 86% of the Bank of America stock price at close. This acquisition will make Bank of America the largest financial services company in the world.
Headquarters:
Charlotte, USA
Founded:
1928
Web:
www.bankofamerica.com
ID: 130
Business and Financial News
The European Central Bank injects €442 billion into banking system - 25.06.2009 The European Central Bank (ECB) allotted €442 billion to banks for 12 months, the biggest amount it has ever given in a single auction. The amount was more than most economists had expected.
More credit card rules could hurt Visa and MasterCard - 23.06.2009 Visa Inc and MasterCard Inc, the world's largest payment networks, could face lower revenue and pressure on their stock prices amid a push for increased U.S. regulation of credit cards.
Top 100 banks saved from bankruptcy - 23.06.2009 Since October 1, 2008, Russian banks have repaid $50 billion worth of loan payments, Finance Minister Alexei Kudrin said at a banking conference in Moscow today.
Bank of America Corp. is the largest financial services company in the world, largest bank by assets, second largest commercial bank by deposits, and third largest by market capitalization in the United States. Also, Bank of America is the number one underwriter of global high yield debt, the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions