Swot Analysis Of Bank Of America

The Merriam Webster dictionary defines the noun “bank” as “an establishment for the custody, loan, exchange, or issue of money, for the extension of credit, and for facilitating the transmission of funds.” In essence it is an institution that serves as a medium of flow of funds between users and savers. A bank is a financial institution that links the flow of funds from savers to users and back. For the purpose of this audit report we will broadly classify banks into two major categories: commercial banks and investment banks.

Competition is quickly encroaching on SunTrust’s territory. The financial crisis helped rivals gain more presence in SunTrust’s core markets through key acquisitions. BB&T bank, one of SunTrust’s main competitors, recently increased its presence with its acquisition of Florida-based BankAtlantic. This acquisition increased BB&T’s deposit market share to 6th in the Miami market. (BB&T Corporate Profile)

Axis Bank Limited which is formerly known as UTI Bank is the third largest bank in India in private sector. It offers the entire spectrum of financial services to customers covering the Large and mid- corporate, MSME, Retail businesses and Agriculture.

Maximising long-term value for its customers, shareholders and its employees is the organisation’s main strategic priority. Commonwealth bank’s strategy is to create long- term value and maintaining competitive advantage by differentiating itself from its competitors.

The largest banking institution in the United States, Bank of America, has been characterized with numerous controversies in the recent past. While the institution only got bigger since the financial crisis and government intervention through bailouts, Bank of America headed towards collapse. In 2011, Bank of America experienced several protests of its branches by various groups like National People's Action, US Uncut and other progressive activists (Jaffe par, 1). These protests were fueled by the groups' anger at Bank of America's tax dodging, huge bonuses that were paid after government bailouts, foreclosures, and other harmful practices. These protests contributed to increased concerns on whether the too-big-to-fail behemoth would really collapse.

Wells Fargo is an American multinational diversified financial services company. The company operates throughout the world. It is one of the largest banks in the US in the state of assets. Moreover, Wells Fargo is the largest market capitalization bank in the US. It takes the second category in the field of deposits, delivery of home mortgage services, and delivery of credit cards. The company has its headquarters in Francisco, California. The company has coverage of more than twenty-four states in the US. In every state, it has established its headquarters that act as distribution and storage regions for the company's products and services. The company offers insurance, banking, mortgage, and consumer financing through the sale and distribution of its networks across the US. The advantages of Wells Fargo Company are widely distributed: they have helped it realize a stable market in the United States and around the globe.

At Bank of America we are looking to deliver what the customer wants. We believe that there are five pillars. They are easy to use, clear, and straight forward banking, friendly and knowledgeable associates in the community, reliable products and services, security and accessibility. These tools will help our customers feel in control of their financial decisions. To make sure that this commitment is communicated we will market through mass media, associates, print ads, and radio. We have also switched the way we will target the customers. The customer will fall into three segments. They are Mass Market, Mass Affluent, and Small business. This will assure that we are delivering the

Bank of America, on the other hand, has spent its time during the post great recession managing its Merrill Lynch purchase. With such a large wealth management force often referred to as the ‘thundering herd’, the Merrill acquisition allows the bank to explore untapped opportunities, as well as making the bank the biggest in the nation bypassing “JPMorgan Chase & Co (JPM.N) and Citigroup Inc (C.N) in size, giving it about $2.7 trillion of assets” (Stempel, 2009). Similar to Morgan Stanley’s plans for its wealth management arm, Bank of America intends on trading the high volatility of traditional investment banking with the stability of the more retail investor focused wealth management. The strategy and benefits are evident, as various Wall Street firms try and reign in more riskier lines of business with more stable ways of income. Additionally, as explained by Halah Touryalai (2012), the advantage of cross selling traditional banking and mortgage products with wealth management clients “can be a very profitable.” The synergies created between both firms could lead to favorable results “as both sides look to tap into one another’s existing client base… sell more products to existing customers. The more products each one of your customers buys from the bank, the more profitable they become for the bank–not to mention it makes it more difficult for a customer to leave” (para. 5). To emphasize, just the size and scope of Bank of America could lead to more attractive

The Bank of Nova Scotia, commonly referred as “Scotiabank,” is one of the largest banks of Canada. It was founded in 1832 in Halifax by local merchants and citizens. They wanted a public bank, owned by shareholders and authorized by the government and that could provide currency for trade transactions. The bank operates in three business lines: personal banking, commercial banking, and wealth management.” Scotiabank trades on the Toronto Stock Exchange as “BNS”. It serves 23 million customers with a team of more than 88,000 employees and assets of $896 billion (as at October 31, 2016) (scotiabank, n.d.)

As a megagiant corporation, Bank of America is often times under more scrutiny than many other organizations. Bank of America has grown considerably in the last few years, and has been the target of the media and government with its aggressive position on acquisitions, mergers, and business strategy. Its upper level executives, therefore, are in the public eye, scrutinized from

In this first section of the Social Media Plan for Wells Fargo, it will discuss the internal and external environments of the company, this will also include a SWOT analysis. Following this analysis, the corporate objectives for social media will be discussed as well as the target market analysis.

The company consistently provides superior customer services to its clients before and after providing investment solutions (Invesco Ltd., 2013).

The bank known as “Hong Leong Bank” or “Bank” is one of the public listed company on Bursa Malaysia. The bank is member of the Hong Leong Group Malaysia which call “the Group”. The group is based headquartered in Malaysia, since 1968 the bank has been invoved by giving financial services in the industry through Hong Leong Finance Berhad and through Dao Heng Bank Ltd. in Hong Kong since 1982 however the Dao Heng Bank Ltd. has been sold to another banking instiuition. The history started its beginning in 1905 located in Kuching, Sarawak, Malaysia under the name of Kwong Lee Mortgage and Remittance Company and then in 1934, incorporated as Kwong Lee Bank Ltd.. In year of 1989, it was renamed under MUI Bank which operating about 35 branches. In January 1994, the Group acquaired MUI Bank

Here are the strengths, weaknesses, opportunities and threats of HSBC, "The World's Local Bank." Strengths-- * International Finance. Since HSBC is a multinational company itself, it is well-qualified to advise other companies on aspects of international business.

HSBC bank is the leading banking service provider in the United Kingdom and is regarded as the largest banking and financial service organisation in the world. The international network of the bank consists of 7500 offices in about 80 countries. The headquarters of the bank is located in London and operates in about 1800 sites. The aim of this paper is to provide critical evaluation of the performance and management of HSBC from last 5 years. Moreover, the SWOT and PEST analysis are used as the qualitative tool for analysing the position and performance of the bank. On the basis of this evaluation, the position and condition of the bank for next 5 years is evaluated.