The Bank of America Corporation is commonly referred to
as what?
A: Bank of America.
What is the Bank of America Corporation?
A: It is an American multinational investment bank and financial services
holding company.
Where is it headquartered?
A: In Charlotte, North Carolina.
Where was the bank founded?
A: San Francisco.
Who acquired it in 1998?
A: NationsBank of Charlotte.
It is the second-largest banking institution in what?
A: The United States, after JPMorgan Chase.
Where does it rank in size in the world?
A: The eighth-largest bank.
It serves approximately what percentage of all American
bank deposits?
A: 10.73%, in direct competition with JPMorgan Chase, Citigroup, and Wells
Fargo.
Its primary financial services revolve around what?
A: Commercial banking, wealth management, and investment banking.
One branch of its history stretches back to what?
A: The U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904.
It provided various banking options to whom?
A: Italian immigrants who faced service discrimination.
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 how much?
A: US$62 billion.
It was then the largest bank acquisition in what?
A: History.
Through a series of mergers and acquisitions, it built
upon its commercial banking business by establishing what?
A: Merrill Lynch for wealth management and Bank of America Merrill Lynch for
investment banking in 2008 and 2009, respectively .
Its wealth management side manages how much in assets
under management (AUM) as the second largest wealth manager in the world?
A: US$1.081 trillion.
In commercial banking where does Bank of America
operate—but does not necessarily maintain retail branches?
A: In all 50 states of the United States, the District of Columbia and more
than 40 other countries.
Its commercial banking footprint encapsulates how many
consumer and small business relationships?
A: 46 million.
The bank's large market share, business activities, and
economic impact has led to numerous what?
A: Lawsuits and investigations regarding both mortgages and financial
disclosures dating back to the 2008 financial crisis.
As of August 2018, Bank of America has a $313.5 billion
market capitalization, making it what?
A: The 13th largest company in the world.
As the sixth largest American public company, it
garnered how much in sales as of June 2018?
A: $102.98 billion.
Bank of America was ranked where on the 2020 Fortune
500 rankings of the largest US corporations by total revenue?
A: #25.
Likewise, Bank of America was also ranked #8 on what?
A: The 2020 Global 2000 rankings done by Forbes.
Bank of America was named the "World's Best Bank" by
whom in 2018?
A: The Euromoney Institutional Investor in their 2018 Awards for Excellence.
