Bank of America 2005 Annual Report Download - page 4
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To our shareholders:
n 2005, your company demonstrated its ability to grow in a number of ways.
We accelerated growth by attracting, retaining and deepening more customer
relationships in the markets we serve. We launched a number of initiatives that will
create value by integrating our capabilities across the company. We completed our
FleetBoston Financial merger transition in the Northeast, exceeding what we promised in
almost every category. We became the fi rst U.S. bank to invest directly in a major Chinese bank.
And, our acquisition of MBNA Corp. closed on Jan. 1, 2006, making Bank of America the top
provider of debit and credit cards in the United States.
Our view is that there are many paths to growth, and the best companies pursue
multiple strategies as market conditions change and opportunities arise. I will discuss our most
important paths to growth in this letter. I invite you to read more about the work we’re doing
KENNETH D. LEWIS
CHAIRMAN, CHIEF EXECUTIVE OFFICER AND PRESIDENT
I
Bank of America 2005 3