Bank of America Term Paper

Pages: 5 (1434 words)  ·  Bibliography Sources: ≈ 7  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

Mini Check Cards- allows customers to place their check cards on their key chains for easy access.

Shortened Mortgage loan application process- this service utilizes the companies banking network to link customers to specific products so that they can reduce the amount of time that it requires to be approved for a mortgage.

Core Bond- this service was created for institutions and corporations "that lowers the cost of capital for corporate issuers and reduces costs for investors looking to purchase a portfolio of corporate bonds." (Bank of America Annual Report)

Incorporation of Six Sigma tools and skills- this adaptation has led the company to higher standards and management processes. It has also led to an increase in customer satisfaction. (Bank of America Annual Report)


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As we asserted earlier Bank of America is among one of the largest financial institutions in the entire world. For this reason it possesses the largest share of the market domestically. The annual report explains that the various products and services and products that the company provides have aided it in gaining a substantial portion of the market share. The report asserts that the market share increased from 2.4% to 4.1% in domestically in equity related securities. (Bank of America Annual Report) In addition, the company's market share tripled in the area of convertible securities. The company's domestic market share for M&A transactions also increased from 2.9% to 5.2%. (Bank of America Annual Report)

The company's market in the UK is apparent but not as established as in the United States. Understandably, the company established its reputation in the United States first and only time will tell how the market in the United Kingdom will respond to the company in the long run. However, the United Kingdom has great potential because it shares in the beliefs and values of the domestic market.

Term Paper on Bank of America Is a Assignment

The market that the company serves is broad and made up of people from all walks of life. In the United States and the United Kingdom the company aims to find financial solutions that will fit the needs of their clients. For instance, for the younger market in both countries Bank of America has provided student accounts, online bill paying and mini check cards. These are all things that are attractive to a younger generation of consumers. On the small business and corporate level the company's market also spans a wide range from individuals that own mom and pop stores-to multimillion dollar conglomerates facing hostile takeovers. The fact that the Bank's market covers such a broad range of people contributes to the company's ability to lead the market domestically.


The company's domestic competition includes Wachovia, and Chase Manhattan Bank. In recent months Wachovia merged with First Union and will be attempting to gain a greater portion of the market share. Competition in the United Kingdom includes the Banks of Wales, Bank of Ireland, Bank of Scotland, Citibank UK and Bradford Bingley International. Most of these banks offer comparable services and are well respected within the UK.


The purpose of this discussion was to explore the company's operations in the United States and the United Kingdom. We found that the company operates in many states domestically and in certain areas of the UK. This discussion also identified the full range of products Bank of America offers both in the United States and the United Kingdom. We found that the company offers such products and services as digital check imaging and personal checking accounts. In addition, the paper described the company's structure, market, and competitive environment. We found that the company is divided into four segments, is the market leader and competes with several banks domestically and in the United Kingdom.


All Graphs and the list on page four came from the annual report listed below.

BAC Full Description. 2003. MultexInvestor. June 12, 2003

BAC Officers and Directors List. 2003. MultexInvestor. June 12, 2003.

Bank of America Annual Report. 2002.Bank of America. June 12, 2003

Bank of America Investment Fact Book. 2003. June 12, 2003

Bank of America.

Key Developments. 2003. MultexInvestor. June 12, 2003. [END OF PREVIEW] . . . READ MORE

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How to Cite "Bank of America" Term Paper in a Bibliography:

APA Style

Bank of America.  (2003, June 15).  Retrieved September 23, 2020, from

MLA Format

"Bank of America."  15 June 2003.  Web.  23 September 2020. <>.

Chicago Style

"Bank of America."  June 15, 2003.  Accessed September 23, 2020.