Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small- and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets segments. The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. As of July 22, 2019, this segment served 66 million consumer and small business clients with approximately 4,300 retail financial centers; 16,600 ATMs; and digital banking. The GWIM segment offers investment management, brokerage, banking, and trust and retirement products; and wealth management solutions targeted to high net worth and ultra high net worth clients, as well as customized solutions to meet clients' wealth structuring, investment management, and trust and banking needs, including specialty asset management services. The Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management, foreign exchange, fixed-income, and mortgage-related products. Bank of America Corporation was founded in 1874 and is headquartered in Charlotte, North Carolina.
Bank of America Corporation
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The Bank of America (BoA) announced its quarterly performance results for the fourth quarter on Wednesday. The company cited its repurchase of shares and a sharp increase in trading revenue to have contributed to the better than expected profit in the recent quarter. The bank revealed to have made $7 billion in profit in Q4 that marked a...
Following the surge in Bitcoin, Altcoins were reported moving in its steps and printed upward rallies in the past week. But the buyers of Ripple’s XRP remained silent. As of Tuesday, however, the bull run has begun in XRP/USD. The long-held resistance at $0.3000 has been sustainably broken, with the third-largest cryptocurrency by market...
The 3,000 level in S&P 500 has long been dubbed the critical resistance that is to be sustainably broken for a strong, potentially long-term bullish pattern to be established in the market. The upward rally on Tuesday has tested the level, however, the breakout wasn’t sustainable with the market immediately falling back to the 2,995 l...
Bank of America (NYSE:BAC) shares fell during yesterday’s session, closing at $17.11.
Release of quarterly earnings report may lead to short-term profit taking