Bank Of America- Case Study
Case Study Brief
Introduction:
The Bank of America was formed in 1998 after the merger of California based Bank of America and the Nations Bank of North Carolina. At the end of the 20th century the bank stood as the second largest bank in the American market with close to 4500 branches operating in 21 states. Most of these branches were located in high growth markets of the south and west coast. Globally, it employed 1, 40,000 employees across 190 nations, over $8 billon in revenues, $360 billion in deposits and some $600 billon in assets.
However the markets had been consolidating for sometime with the total number of banks in America having reduced to 7000 from an figure of 14000 first recorded in 1985. Intense competition characterized the market and the challenge for national banks was to be able to localize product and service offerings for their customers.
Financial services had traditionally been looked upon as commodities by banks and lack of experimentation......
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Approximate Word Count: 1133
Approximate Pages: 5 (250 words per double-spaced page)
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