Bank of America 2006 Annual Report Download - page 32

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Building Opportunities for Growth
Helping Our
Customers in
Many Ways
OUR DIVERSE MIX OF BUSINESSES LETS US GROW SHAREHOLDER
VALUE IN A CHANGING ECONOMIC ENVIRONMENT.
GLOBAL CONSUMER & SMALL BUSINESS BANKING
Global Consumer & Small Business Banking (GCSBB) serves approximately
53 million consumer households in addition to mass-market small businesses
in cities and towns across America. Seventy-six percent of U.S. residents live in
Bank of America’s retail franchise, which covers 30 states and the District of
Columbia. In addition, three-quarters of the nation’s mass-market small bus-
inesses — home-based enterprises, sole proprietorships and smaller manufacturing
and distribution firms — operate in the communities served by Bank of America.
These consumers, entrepreneurs and businesses can easily access all of our ser-
vices through more than 5,700 banking centers, 17,000-plus ATMs and the nation’s
leading online banking and bill-pay service, supported by a world-class telephone
banking team.
Bank of America is the leading provider of checking, savings, credit and debit cards
and home equity lending, with a leading Merchant Services business and a mortgage
business with growing market share. Since our businesses are tightly integrated, we
can adapt all of our services to meet the needs of consumers and businesses of any size
and complexity. The Small Business Banking organization, for example, is responsible
for all products, distribution and marketing related to our innovative capital, credit,
deposit and payment services. A leading credit card operation allows ready access to
capital and credit; Online Banking is responsible for Easy Online Payroll, as well as
our payment and invoicing services; banking centers provide cash, night drops,
merchant tellers and, in many locations, small business specialists.
30 Bank of America 2006
Net
Income
Revenue
$ 24 . 7
$28 . 3
$41 . 7
’04
’05
’06
’04
’05
’06
$ 5 . 8
$ 6 . 9
$11 . 2
(in billions, fully taxable-
equivalent basis)
(in billions)