Bank of America Facts
American global financial services company
- Bank of America is the largest bank holding company in the United States of America and is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargo - its main competitors.
- Bank of America is the fourth largest bank in US by market capitalization, second largest bank holding company in the United States by assets.
- The bank has clients in over 150 countries.
- They have relationship with 99% of US Fortune 500 and 83% of Fortune Global 500 companies.
- As of 2010, Bank of America is the fifth largest company in the US in terms of total revenue. It's the second largest non-Oil company in the US.
- In 2010, Forbes listed Bank of America as the 3rd biggest company in the world.
- Bank of America's acquisition of Merrill Lynch in 2008 made it the world's largest wealth manager
- As of August 2009, Bank of America holds 12.2% of all US deposits.
- Kenneth D Lewis is the largest individual shareholder of Bank of America holding more than 2 million shares.
- Bank of America began in 1904 when Italian American Amadeo Giannini founded the "Bank of Italy" in San Francisco
- In 1922, Giannini established Bank of America and Italy in Italy by buying Banca dell'Italia Meridionale, the latter established in 1918.
- On March 7, 1927, Giannini consolidated his Bank of Italy (101 branches) with the newly formed Liberty Bank of America (175 branches). The result was the Bank of Italy National Trust & Savings Association with capital of $30 Billion, and resources of $115 Billion.
- In 1928, A. P. Giannini merged with Bank of America, Los Angeles and consolidated it with his other bank holdings to create what would become the largest banking institution in the country. He renamed the Bank of Italy on November 3, 1930, calling it Bank of America.
- BoA provided finance to some of the large public works during the Great Depression of the 1930s such as the building of the Golden Gate Bridge and the Hoover Dam
- During those time the bank released ads that said, 'Banked dollars are dynamos' and promoted public to start a California 'Back to Good Times' account at any of its bank or any bank.
- It acquired the 153-year old US Trust expanding its private banking business and got ultra high net worth clients.
- The Bank of America Tower in New York City is the first high-rise tower in the history to be designed to qualify for platinum status as per US Green Building LEED certification system for its environmental features.