Opportunities
- Bank of America has opportunity to increase market share by product development and markets penetration in the domestic markets by acquisitions.
- Increase clients base by expanding globally through the joint ventures, acquisitions, and mergers.
- Bank of America has the opportunities to offer innovative products and services.
- Increasing trend towards the internet banking is also a good opportunity to introduce online banking in different countries of the world.
- Diversification towards the non-banking services.
- Increasing customers’ wealth and trend in the direction of the investment after the financial crises 2007-2010.
- Additional consolidation in the banking sector.
Threats
- This industry may be on the restore, but its revival could be slowed down by heavy-handed regulation and more hurting in the housing market.
- Bank of America has strong competitors in the industry such as JP Morgan Chase, Citigroup and Wells Fargo.
- Banks are facing serious losses and miserable profits, mainly if the government gets approved away with financial and other improvement efforts.
- Facing strong competition to sustain its market share.
- Facing strong political instability and regulation and tariffs in various countries of the world.
- The playing out of banks’ exposure to anxious assets.
- New regulations and policies may shock financial firms’ business forms.
- The call for constant hard work to improve risk oversight and governance, particularly at the board level.
Pages: 1 2