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Bank of America and Financial Analysis

Bank of America is a leading US financial institution dedicated to serving individual consumers, large corporations, and small and medium-sized enterprises with a broad range of banking, investment, and management products and services. It provides easy-to-use online products and services and is listed on the New York Stock Exchange (Bank of America 1). The Bank employs environmental, social, and governance leadership approach to deliver better financial lives across the US and about 35 other countries. Bank of America is globally recognized in corporate and investment banking, wealth management, and trading.

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Financial Analysis

The current banking industry is in a better place than where it was after the financial crisis of 2008. The total assets globally increased to about one hundred and twenty-four trillion in 2018 (Spokeviciute et al., 2019). The increased investments have necessitated major banks, such as Bank of America, to release new features to retain current customers and attract new ones. One of the Bank’s mission statements is to attend to its customers with courtesy and efficiency while contributing to all shareholders’ growth and the stability of the economies where it operates. The Bank aims at optimizing the growth of the Bank through standard development plans and interactions. Additionally, the new banks have invented new banking technologies breaking into the scene; existing banks are competing to improve their customer services or merge with them.

An analysis of the Strengths, Weaknesses, Opportunities, and Threats (SWOT) is essential when planning the Bank’s future. The SWOT analysis will help the Bank build on strength by identifying areas that the Bank performs well. The stability of the organization is a critical success factor that will give the organization its competitive advantage. The Bank aims at minimizing its weakness in the coming years. Identifying these characteristics and minimizing these weaknesses will help deal with the issues before they get out of hand. The SWOT analysis will help the Bank identify opportunities to increase the cash flow in the next five years. Stabilizing the threats that could be problematic, such as competitor’s new advertising campaigns, new government policy, or changes to the market, is essential.

The Bank has the talent pool with the proper diversity it needs to operate. The Bank has designed specific policies and programs to enhance employee retention, promotion, and inclusion of individuals from different cultures. The process of planning is an ongoing practice in the Bank. It focused on identifying the leadership and managerial talents while including its strategic vision to perform the tasks. The Bank has established plans for retaining and developing while recruiting individuals who can develop those skills necessary. Maintaining a succession plan has promoted a healthy working environment and shared responsibility that requires a strong partnership among stakeholders.

The Bank has adopted a refined pricing strategy that is expected to increase its revenue. Anticipated rise of approximately 7 to 14% will encourage performance throughout the organization, and deepen relationships with valuable corporate clients (Spokeviciute et al., 230). The regulatory changes have a fundamental resolve for banks to teach the changes. Throughout the region, banking markets have squeezing profitability, especially troubled loans and slower economic growth. The competition centered on interest rates has become more intense as banks seek ways to regain their momentum. The banks have adjusted to the extreme competition. Having come from a regulated system, banks have generally neglected pricing as a strategic tool. They will, therefore, have to hire relationship managers to strengthen governance systems that have traditionally performed the tasks.

The company can improve its financial outcomes by growing marketing efforts and relying upon compact sales culture. The firm can use a variety of promotional techniques to gain market and create a strong sales culture. The creation of awareness and next purchase is necessary for the firm’s achievement and continual growth. Marketing efforts coupled with a strong sales culture symbolize that the firm can launch a conversation with stakeholders and their customers about the services they provide. Regulations such as the emergency stabilization act of 2008 authorized the federal government to bail out banks that were on the verge of bankruptcy due to their investments in the fouled mortgage (Spokeviciute et al. 228). The regulation has placed a requirement on banks by placing them under direct cash flow scrutiny from the government until their solvency is declared and requiring them to debt ratio.

The bank mergers show that, on average, there are reductions in merging firm’s sales while the overall profit of the new firm increases. The earnings for mergers increase because of increased efficiency and market power. For globalization, firm-level panel data for 2002–2009 showed that foreign-owned enterprises presented an increase in growth rates than their respective equivalents. Notably, the local traders also experienced increased growth than more prominent foreign traders, whereas giant exporters grew faster than their smaller counterparts (Spokeviciute et al. 229). Global trade has a positive role in increasing growth observed for firms of all sizes and age groups.

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The Bank’s statement reflects its desire toward becoming the lead competitor in the financial services industry globally. The report affirms the Bank’s desire to maximize the benefits of stakeholders around the world. The firms’ mission has ensured that intentional resolutions are in line with the clients’ needs for accessing beneficial financial services. Ethics and compliance affect all the stakeholders in a given business, and the Bank is no exception. The Bank’s issues are constant lapses in the ethical culture and accusations of interest in quick returns and ignoring appropriate products.

Works Cited

Bank of America. Company overview. 2021. Web.

Spokeviciute, L., et al. “Do financial crises cleanse the banking industry? Evidence from US commercial bank exits.” Journal of Banking & Finance, vol. 99, 2019, pp. 222-236,

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