Bank of America 2007 Annual Report Download - page 32

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Global Consumer & Small Business
Banking (GCSBB) has about 59 million
consumer and mass-market small
business relationships across America.
Eighty-one percent of U.S. residents live
in Bank of America’s retail franchise,
which covers 32 states and the District
of Columbia. In addition, four out of five
of the nation’s mass-market small
businesses — home-based enterprises,
sole proprietorships and smaller manufac-
turing and distribution firms — operate
in communities served by Bank of America.
These consumers, entrepreneurs and
businesses can access products and
services through more than 6,100 banking
centers, more than 18,500 ATMs and the
nation’s leading online banking, online
bill-pay and mobile banking services, as
well as through a world-class sales force
and call centers.
Bank of America is the leading provider
of checking and savings accounts and
credit and debit cards. It is a leading
originator of direct-to-consumer mortgages
and home equity loans and has a top
merchant card processing service. Since
the businesses are tightly integrated,
services may be adapted to meet the needs
of consumers and businesses of any size.
The Small Business Banking organization
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;
the Online Banking division is responsible
for Online Business Suite, including
Easy Online Payroll™; and thousands of
banking centers provide cash, night drops,
merchant tellers and, in many locations,
small business specialists.
30 Bank of America 2007
Global Consumer & Small Business Banking
SIZE, SCALE, A DIVERSE REVENUE MIX AND THE ABILITY
TO EXECUTE HAVE NEVER BEEN MORE IMPORTANT.
A LEADER
IN OUR
MARKETS
Revenue
(in billions, fully taxable-equivalent basis)
Net Income
(in billions)
’05 ’06 ’07
$28.4
$44.9 $47.7
’05 ’06 ’07
$7.0
$11.4 $9.4
Insights Innovations Opportunities
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