Categories: SWOT Analysis

SWOT Analysis of Bank of America

&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;left&semi;margin&colon;0px 0px 0px 0&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<p align&equals;"justify">Bank of America is one of the world&&num;8217&semi;s largest financial institutions&comma; serving individual consumers&comma; small- and middle-market businesses and large corporations&period;&&num;160&semi; It is the largest bank holding company in the United States&comma; by assets&comma; and the second largest bank by market capitalization&period; The company serves clients in more than 150 countries and has a relationship with 99&percnt; of the U&period;S&period; Fortune 500 companies and 83&percnt; of the Fortune Global 500&period; The SWOT Analysis of the company is given below&colon; <&sol;p>&NewLine;<h3>&&num;160&semi;<&sol;h3>&NewLine;<h3>Strengths<&sol;h3>&NewLine;<p> &&num;160&semi;<&sol;p>&NewLine;<ol>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America has great brand image&comma; superior customer service and high customer satisfaction&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">It has diversified variety of financial services and products along with strong internet banking presence&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America is the biggest bank holding corporation in the U&period;S&period; by assets&comma; and the second biggest bank company by market capitalization&period; <&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America is a part of both DJIA and S&amp&semi;P 500 index&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America has a strong global presence&period; Due to various acquisitions&comma; mergers&comma; and joint ventures the institution has a strong position and presence in domestic market&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Small Business Banking and Global Consumer is the biggest division in the corporation&comma; and the company mainly deals with credit card issuance and consumer banking&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America is the second biggest non-oil company in the United States&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">In 2008&comma; it acquired Merrill Lynch and became the globe&&num;8217&semi;s largest wealth manager and main company in the investment banking business&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">As of August 2009&comma; Bank of America grasped 12&period;2 percent of all United States deposits&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">In 2010&comma; Bank of America was considered as fifth largest corporation in the U&period;S&period; by total revenue&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America is listed as the third largest corporation in the globe by Forbes 2010&period; <&sol;div>&NewLine;<&sol;li>&NewLine;<&sol;ol>&NewLine;<h3>&&num;160&semi;<&sol;h3>&NewLine;<h3>&&num;160&semi;<&sol;h3>&NewLine;<h3>Weaknesses<&sol;h3>&NewLine;<p> &&num;160&semi;<&sol;p>&NewLine;<ol>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America has clients base over 150 countries but generates 90 percent of its sales in its national market and just 10&percnt; internationally&period;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Mismanagement of Federal Bailout and management dilemmas result in the resign of its six directors and formation of a regulatory collision office&period; <&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">Bank of America is criticized by its customers for raising the interest rates&period;&&num;160&semi;&&num;160&semi;&NewLine;<&sol;div>&NewLine;<&sol;li>&NewLine;<li>&NewLine;<div align&equals;"justify">The bank has been criticized for allegedly snatching three properties that were not below their ownership or rights&comma; actually because of incorrect addresses on their authorized documents&period;&NewLine;<&sol;div>&NewLine;<h3>&&num;160&semi;<&sol;h3>&NewLine;<h3>&&num;160&semi;<&sol;h3>&NewLine;<&sol;li>&NewLine;<&sol;ol>&NewLine;<p>&&num;160&semi;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad2" id&equals;"quads-ad2" style&equals;"float&colon;none&semi;margin&colon;0px 0 0px 0&semi;text-align&colon;center&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;

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