Top 10 Banks in the World 2018

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9. Bank of America

Bank of America has headquarters in Charlotte, North Carolina.


Image: flickr.com/photos/wonderlane/

It is the second largest bank in the United States by Assets which has a strong customer base. Bank of America is a multinational bank with a presence in United States of America, Canada, Asia Pacific, Europe, Middle East, Africa and Latin America.

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The bank also has 9% stake in the China Construction Bank with almost 3 billion USD value. The bank is also famous by its name “BofA”. The bank was ranked 11 by Forbes Magazine Global 2000 in 2016. The bank holds almost one-tenth of the total deposit in America which makes it one of the “Big Four” Banks of United States. The firm operates in all the states as well as other 40 countries in the world. It serves more than 45 million customers worldwide and has more than 4,500 banking centers enabling relations with many small and big businesses. With more than 15,000 ATMs globally, the bank has highly penetrated the network.  Services and products like Corporate banking, insurance, wealth management, mortgage loans, private banking, etc. can be availed from the bank. The firm has two prime divisions, Bank of America Home Loans and Bank of America Merrill Lynch with three subsidiaries, viz., Merrill Lynch, Merrill Edge and U.S. Trust. Capital ratio is maintained at 11.8% by the firm. The firm also involves itself into philanthropic economic activities as a part of its Civil and Social Service Responsibility. The United States workforce has more than 50% women working in the bank, even in high positions, the ration is nearly 50%.

Revenue (in Billions of USD): 87.34

Net Profit (in Billions of USD): 18.23

Assets (in Billions of USD): 2281.23



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