SWOT Analysis of Bank of America

Opportunities

1. Bank of America has opportunity to increase market share by product development and markets penetration in the domestic markets by acquisitions.
2. Increase clients base by expanding globally through the joint ventures, acquisitions, and mergers.
3. Bank of America has the opportunities to offer innovative products and services.
4. Increasing trend towards the internet banking is also a good opportunity to introduce online banking in different countries of the world.
5. Diversification towards the non-banking services.
6. Increasing customers’ wealth and trend in the direction of the investment after the financial crises 2007-2010.
7. Additional consolidation in the banking sector.

Threats

1. 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.
2. Bank of America has strong competitors in the industry such as JP Morgan Chase, Citigroup and Wells Fargo.
3. Banks are facing serious losses and miserable profits, mainly if the government gets approved away with financial and other improvement efforts.
4. Facing strong competition to sustain its market share.
5. Facing strong political instability and regulation and tariffs in various countries of the world.
6. The playing out of banks’ exposure to anxious assets.
7. New regulations and policies may shock financial firms’ business forms.
8. The call for constant hard work to improve risk oversight and governance, particularly at the board level.