Bank of America

Strengths-

(1) Bank of America is one of the largest banking corporations in the world, and second largest bank in the United States, which also means they have an extremely large customer base.

(2) Bank of America is with both S&P 500 index and DJIA

(3) Bank of America is one of the biggest non-oil companies in the United States.

(4) Bank of America has made banking more convenient with online banking, mobile banking, and multiple banking centers easily assessable to customers.

(5) Bank of America is also known for its strong service and product innovation.

(6) Bank of America, being one of the largest banks in the world, provides services to over 150 countries worldwide with strong ties to the vast majority of the fortune 500 companies.

(7) Bank of America is a one stop shop for business opportunities such as personal banking, business banking, home loans and auto loans, lines of credit, investments, and retirements.

(8) Over 290,000 employees across the world

Bank of America has become one of the world’s largest financial institutions taking lead in several businesses. They operate in all of the United States and in more than 40 countries holding top position in the world across fixed income, rates, equities, currencies and mortgages.

Weaknesses-

(1) Bank of America has numerous clients across the globe but only makes just about 10% of its revenue internationally while making the other 90% in the United States.

(2) Bank of America has many customers worldwide but with many customers come problems. Bank of America has faced multiple lawsuits from customers for withholding information and charging excessive overdraft fees etc.

(3) Bank of America also faced a lawsuit against the Justice Department with allegation that investors were defrauded by the Bank of America Corporation.

(4) Bank of America has also face trouble within its own organizations. There has been a lot of controversy over the gender bias and racism preventing current and former employees fair opportunities to succeed within the corporation. Such troubles has made the corporation face lawsuits within as well.

(5) Bank of America has been criticized by its customers for raising its interest rates. The majority of its customers without payment problems began to see that their interest rates skyrocketed up to 28% and began to raise even more questions when leaders within the organization declined to explain the reasoning behind it.

(6) Bank of America is considered to have weak asset position.

(7) Due to so many lawsuits Bank of America has to give away a lot of its assets losing out to J.P. Morgan as the top