Bank of America - Statistics & Facts

Bank of America - Statistics & Facts

Statistics and facts on Bank of America

The history of Bank of America can be traced back to 1904, when it was known as Bank of Italy. At that time, the feature which distinguished the Bank of Italy from other American banks was that it offered financial services to immigrants arriving in the United States and not only wealthiest American citizens. The bank was renamed to the Bank of America in 1998, after its acquisition by Nations bank, the largest bank acquisition in history at that time. The subsequent aggressive campaign of acquisitions that followed, transformed Bank of America from a regional player to a national giant.

Bank of America is headquartered in Charlotte, North California. It is one of the most valuable banking brands globally and one of the leading banks in terms of assets, market capitalization or value of managed merger and acquisition deals. It was the fourth largest employer in the banking sector in the United States in 2016, with employment figure exceeding 145 thousand people.

The total assets of the Bank of America amounted to approximately 2.19 trillion U.S. dollars in 2016. In the same year, the bank reported net income of 17.91 billion U.S. dollars. Approximately 72 percent of the bank revenue was generated in the United States.

In 2016, there were more than 323.3 million people living in the United States and in spring of the same year, 23.19 million American citizens used Bank of America as their primary bank.

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