Bank of America (BAC) is the best investment option today. BAC is one of the largest leading bank companies in America, and one of the world’s largest holding bank companies in terms of assets and total revenue. Bank of America offers numerous financial and non-financial services in the areas of Global Consumer and Small Business Banking, Global Corporate and Investment Banking, and Global Wealth and Investment Management. The company has strong presence in the U.S., as well as other 40 foreign countries, and serves over 57 million consumers and small business clients. Bank of America is a good option to be considered for investing. Those wanting to make their money grow should act as soon as possible.
During 2011, Bank of America continued offering quality service to clients. BAC provided more loans, capital and access to domestic and foreign markets. BAC’s structure and operational costs were reduced from 2010-2011, and significant costs savings are expected in 2012. Trading was strong in the first half of 2011; not as strong in the second half, especially the third quarter; however, there was a recovery during the fourth quarter. Trading has been strong throughout this year’s first quarter. In 2012, BAC will continue to place its efforts raising capital and liquidity, driving the core business and managing costs and risks.
Bank of American like other banking sectors was affected by the 2008-2009 crises. BAC has taken care of its assets since the financial crisis. BAC is heading back to position itself as one of the leading banks in America. It is just a matter of time before BAC starts on the right road to make the profits that it was making before the crisis. This signifies that the price of the stocks owned by this company is much lower in the present than what they would really be. Thus, in the present time, this indicates a great opportunity to buy. When the company returns to its profit levels, then one might expect that the prices of its stocks should reach the same levels it had before the crisis. That should be a few times more than what the stocks are currently trading.
In the most recent conference call, Bank of America’s CEO talks about BAC’s financial conditions and financing statements. After six acquisitions during the mid-2000s and the economic crisis, BAC has set on a course to simplify the firm and lower future risks. BAC’s transformation comprises the selling of non-core assets and investing in strategic areas that allow the company to grow. The company’s capital and liquidity remains at record levels despite the downgrades experienced in the fall of 2011. There was a 20% increase in loans in 2011 than in the previous year. A $1 billion incremental goal was also met.
BAC is a wise investment to consider. BAC is currently making many advances on the products offered. BAC operates the nation’s largest talking ATM network. This is one of BAC’s strategies to maintain current costumers, as well as for attracting new ones. This assures that BAC will continue to pour money into its assets. This is beneficial for the bank and for the stock prices. BAC offers services to consumers, large corporations and small to mid-size businesses in a full range of banking and financial products, domestic and foreign.
As of April 19, 2012, bank of America reported a net income of 653 million, or $0.03 per diluted share, for the first quarter of 2012, which is lower than the $2.0 billion made in the fourth quarter of 2011. The impact to this result was a pre-tax negative valuation adjustment of $4.8 billion. Apart from this adjustment, BAC seems to be improving and performing fairly well. Global excess liquidity increased to a record $406 billion. The largest improvement to BAC’s earnings in the first quarter of 2012 came from global business which increased significantly due to improved customer flow. BAC extended approximately $102 billion in credit during the first quarter of 2012.
Bank of America made important progress during the first quarter of 2012. During the first quarter of 2012, BAC granted $102 billion in credit; the firm raised $159 billion in capital for clients; the company created approximately $1.6 billion in small business loans; BAC hired 100 small business bankers, raising the total number of bankers to more than 700; the company added more than 200 financial advisors, bringing the number of financial advisors to approximately 17,500; the number of mobile banking consumers rose 39%; the number of credit card accounts opened in the U.S. was up to 19%. Bank of America Merrill Lynch (BAML) ranked number 1 as most Innovative Investment Bank of the Year in North America, and mumber one in net investment banking fees, globally.