Page 23 - Bank of America E Teaching Note

Issue 3

ISSUE 3: Finance

“Bank of America is well managed”, said Warren Buffet.

2013

Turover $85 billion

Second non-oil company after Wal-Mart

Capitalisation One of the largest in the world

General & Administrative $50 billion

Expenditure

Net Income £11 billion

Primary Competitors Citigroup

Goldman Sachs

JP Morgan Chase

Morgan Stanley

Wells Fargo