Bank of America 2001 Annual Report Download - page 22

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20
The Bank of America Commercial segment is focused on
delivering innovative solutions through three primary
businesses: Commercial Banking, Real Estate Banking
and Business Credit. Our competitive advantage is our
ability to serve our clients’ evolving needs through
a broad range of products and services, delivered by
dedicated financial experts.
The Commercial segment provides total financial solutions
for clients ranging from entrepreneurs, multinational compa-
nies, real estate developers and home builders, to municipali-
ties and not-for-profits.
We leverage the power of our company to provide comprehen-
sive solutions for our clients, from working capital requirements to
long- and short-term debt and access to capital markets. We also
draw upon the expertise of our Premier and Private bankers to
provide personal wealth management services.
We serve more than 30% of all middle-market companies
operating within and immediately surrounding our 21-state
and District of Columbia franchise footprint. That gives us a
tremendous base for expanding existing relationships and
acquiring new clients. In addition, we estimate that more than
half of the companies we serve operate in more than one
state, giving the coast-to-coast Bank of America franchise a
strong competitive advantage.
In 2001, we combined three historically distinct busi-
nesses – Commercial Banking, Real Estate Banking and
Business Credit – to form the Commercial segment. This
allows us to build on the unique successes of each of the
businesses and create powerful, comprehensive solutions to
help our clients and their companies succeed.
In 2001, the Commercial segment generated $4.1 billion in
revenue and realized $1.1 billion in net income. Loans totaled
$69 billion and deposits totaled $24 billion.
>Opportunities
>Ability to expand our Treasury Management
advisory capabilities
>Ability to leverage our client base to build
investment banking business
>Ability to grow personal and institutional
investment services and asset management
>Recent Achievements
>Increased investment banking income by
a compounded annual growth rate of 16%
since 1999
>Achieved consistent, incremental year-over-
year growth in fee income
>Improved margins through increased
pricing discipline
>Strategies
>Acquire new relationships
>Expand existing relationships
>Improve quality of service
>Reduce volatility of earnings
Serving the Commercial Markets >