Bank of America SWOT Analysis, Competitors & USP

Published by MBA Skool Team, Last Updated: April 26, 2020

SWOT analysis of Bank of America analyses the brand by its strengths, weaknesses, opportunities & threats. In Bank of America SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.

SWOT Analysis is a proven management framework which enables a brand like Bank of America to benchmark its business & performance as compared to the competitors. Bank of America is one of the leading brands in the banking & financial services sector.

The article below lists the Bank of America SWOT (Strengths, Weaknesses, Opportunities, Threats), top Bank of America competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).

About Bank of America

Bank of America Overview
Parent Company

Bank of America Corporation

Category

Banking

Sector

Banking & Financial Services

Tagline/ Slogan

Bank of Opportunity

USP

Bank of America Corporation is an American global financial services company, the largest bank holding company in the United States

Bank of America STP
Segmentation

Enterprise and Individuals who are seeking financial help and advice

Target Market

Large enteprises and rich individual investors

Positioning

A bank which provides an opportunity to all its customers

SWOT Analysis of Bank of America

For Bank of America, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Let us start the Bank of America SWOT Analysis:

Bank of America Strengths

The strengths of Bank of America looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Bank of America :

1.Bank of America has a strong brand name and good financial position
2.Bank of America is one of the largest bank in the American market
3.Stable and growing banking sector in US
4.Excellent service and product innovation providedby Bank of America to its customers
5.Over 285,000 employee across the world
6.Bank of America serves clients in more than 150 countries and has a relationship with 99% of the U.S fortune 500 companies

Bank of America Weaknesses

The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Bank of America SWOT Analysis:

1.Consumer credit controversies affected the brand image
2.Wikileaks controversy hurt the business operations of Bank of America


Bank of America Opportunities

The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Bank of America SWOT Analysis:

1.Expansion in other countries can be a huge opportunity for Bank of America
2.Diversifying portfolios for customers

3.Growing credit card value for the consumers
4.Mergers acquisiitions and JVs


Bank of America Threats

The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Bank of America are as mentioned:

1.Changing govt regulations and financial crisis like recessions
2.Competition from other banks can reduce Bank of America's market share

Bank of America Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 8 competitors of Bank of America:

1. BNP Paribas
2. Citibank
3. China Construction Bank
4. Deutsche Bank
5. HSBC
6. National Australia Bank
7. Standard Chartered Bank
8. RBS (Royal Bank of Scotland)


This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to Bank of America. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.

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