Continuing the "Business Analysis" series, after exploring "The world's leading online payment platform" - PayPal ($PYPL), this week, Viet Hustler will take you to the giant in the financial sector - Bank of America. As one of the largest banks in the United States, Bank of America has a global operating network, providing diverse financial products and services to individual and business customers. This article will delve into analyzing the business model as well as the current situation of Bank of America, thereby giving readers a more comprehensive view of this financial corporation.
Established in 1874, Bank of America Corporation (BofA) is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is in the group of 4 “too big to fail” of the US financial system, serving about 10% of total US bank deposits, directly competing with JPMorgan Chase, Citigroup, and Wells Fargo.
Bank of America maintains the No. 2 position, by both assets and market cap
