SWOT Analysis of Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations.  It is the largest bank holding company in the United States, by assets, and the second largest bank by market capitalization. The company serves clients in more than 150 countries and has a relationship with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500. The SWOT Analysis of the company is given below:

Strengths

1. Bank of America has great brand image, superior customer service and high customer satisfaction.
2. It has diversified variety of financial services and products along with strong internet banking presence.
3. Bank of America is the biggest bank holding corporation in the U.S. by assets, and the second biggest bank company by market capitalization.
4. Bank of America is a part of both DJIA and S&P 500 index.
5. Bank of America has a strong global presence. Due to various acquisitions, mergers, and joint ventures the institution has a strong position and presence in domestic market.
6. Small Business Banking and Global Consumer is the biggest division in the corporation, and the company mainly deals with credit card issuance and consumer banking.
7. Bank of America is the second biggest non-oil company in the United States.
8. In 2008, it acquired Merrill Lynch and became the globe’s largest wealth manager and main company in the investment banking business.
9. As of August 2009, Bank of America grasped 12.2 percent of all United States deposits.
10. In 2010, Bank of America was considered as fifth largest corporation in the U.S. by total revenue.
11. Bank of America is listed as the third largest corporation in the globe by Forbes 2010.

Weaknesses

1. Bank of America has clients base over 150 countries but generates 90 percent of its sales in its national market and just 10% internationally.
2. Mismanagement of Federal Bailout and management dilemmas result in the resign of its six directors and formation of a regulatory collision office.
3. Bank of America is criticized by its customers for raising the interest rates.  
4. The bank has been criticized for allegedly snatching three properties that were not below their ownership or rights, actually because of incorrect addresses on their authorized documents.