Bank of America 2005 Annual Report Download - page 31

How We Grow: Our Businesses
Bank of America serves more than 38 million consumer and small
business relationships in the nation’s
fastest-growing and most diverse com-
munities. Sales, service and fulfillment
are provided through more than 5,800
banking centers and nearly 17,000 ATMs
in 29 states and the District of Colum-
bia. We also offer our customers the
leading online banking service in the
United States, with more active online
bill payers than all competing banks
combined, as well as a 24-hour telephone
banking service that earns high ratings
for speedy and easy self-service. With
product and sales teams coordinating
closely within these various distribution
channels, Bank of America has grown
to become the nation’s largest provider
of checking and savings services, the
No. 1 credit and debit card provider
(effective with completion of the MBNA
merger on Jan. 1, 2006), the No. 1 small
business lender, the leading home equity
lender and the fifth-largest originator of
consumer mortgages.
Global Consumer and Small Business Banking
(in billions)
Global Business and Financial Services
Global Wealth and Investment Manage- ment delivers comprehensive financial
solutions to more than 2 million individ-
ual and institutional clients worldwide.
It includes Premier Banking and Invest-
ments, which delivers financial solutions
through full-service banking and invest-
ment products to affluent clients; The
Private Bank of Bank of America, which
provides investment, trust and integrated
banking, and lending services to wealthy
clients; and Family Wealth Advisors at
The Private Bank, which serves the com-
plex financial needs of the very wealthy. It
also includes Columbia Management, one
of the world’s largest asset managers and
the provider of proprietary asset manage-
ment products to retail and institutional
investors. It is among the 10 largest U.S.
wealth managers (ranked by private
banking assets under management in
accounts of $1 million or more as of June
30, 2005), the 10 largest U.S. mutual fund
managers, and the five largest global
money market fund managers by assets
under management as of Dec. 31, 2005.
Global Wealth and Investment Management
Global Capital Markets and Invest- ment Banking is an integrated cor-
porate and investment bank that provides
issuer clients with innovative, comprehen-
sive capital-raising solutions and advi-
sory services, as well as traditional bank
deposit and loan products, cash man-
agement and payment services. Inves-
tor clients are served through equity
and debt research, secondary trading
capabilities and financing activities in
fixed income and equity markets. Clients
benefit from extensive derivative and
other risk-management products. Through
offices in more than 27 countries, it serves
domestic and international corpora-
tions, including most of the Fortune 500,
institutional clients, financial institutions
and government entities. Many of our
services are provided through our U.S.
and UK subsidiaries, Banc of America
Securities LLC and Banc of America
Securities Limited.
Global Capital Markets and Investment Banking
*Fully taxable-equivalent basis
30 Bank of America 2005
Global Business and Financial Services serves midsize domestic and interna-
tional business clients of Bank of America.
The unit, combined in 2006 with Global
Capital Markets and Investment Bank-
ing to form the new Global Corporate and
Investment Banking unit, provides in-
novative financial services, specialized
industry expertise and local delivery
through a global team of client manag-
ers and a diverse mix of market-leading
businesses, including Global Treasury
Services, Middle Market Banking, Com-
mercial Real Estate Banking, Dealer Fi-
nancial Services, Business Banking, Leas-
ing and Business Capital. It also includes
our businesses in Latin America. Bank of
America is the predominant middle mar-
ket bank in the United States, providing
financial solutions such as capital mar-
kets, investment banking and traditional
banking services. We also are the No. 1
global treasury services provider, the lead-
ing bank-owned asset-based lender and
the leading provider of financial services
to commercial real estate businesses.
(in billions)
Revenue*
$19.6
$25.2
’03
$28.9
’04 ’05
Net Income
$5.3
$6.0
$7.2
’03 ’04 ’05
Revenue*
$5.9
$9.3
$11.2
’03 ’04 ’05
$2.1
$3.8
Net Income
$4.6
’03 ’04 ’05
Revenue*
$4.0
$5.9
$7.4
’03 ’04 ’05
Net Income
$1.2
$1.6
$2.4
’03 ’04 ’05
(in billions)
Revenue*
$9.0
$8.4
$9.0
’03 ’04 ’05
Net Income
$1.9
$1.8 $1.7
’03 ’04 ’05
(in billions)