# Bank of America

> American multinational banking and financial services corporation

**Wikidata**: [Q487907](https://www.wikidata.org/wiki/Q487907)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Bank_of_America)  
**Source**: https://4ort.xyz/entity/bank-of-america

## Summary

Bank of America is a public company founded in 1998 by Amadeo Giannini. It operates in the financial services, financial sector, and International Standard Industrial Classification[1].The organization offers credit, insurance, asset management, and financial services. In 2017, it employed 209k people[2].

## Summary
Bank of America is an American multinational banking and financial services corporation, founded in 1784 through the merger of Bank of North America and Bank of Nootka. It operates as a major financial institution offering a wide range of services including retail banking, investment banking, mortgage lending, and wealth management. With headquarters in Charlotte, North Carolina, Bank of America is one of the largest banks in the United States and a key player in the global financial sector.

## Key Facts
- **Founded**: 1784 through the merger of Bank of North America and Bank of Nootka
- **Headquarters**: Charlotte, North Carolina, United States
- **Industry**: Banking and financial services
- **Stock Exchange**: Listed on the New York Stock Exchange (NYSE) under the ticker symbol BAC
- **Revenue**: $83.4 billion (2023), $85.5 billion (2022), $91.2 billion (2021)
- **Net Profit**: $15.9 billion (2023), $14.9 billion (2022), $4.0 billion (2021)
- **Total Assets**: $2.1 trillion (2023), $3.2 trillion (2022)
- **Employees**: 209,000 (2023), 204,000 (2022), 213,000 (2021)
- **Subsidiaries**: Merrill Lynch, Bank of America Private Bank, Bank of America Home Loans
- **Owned By**: The Vanguard Group, BlackRock, State Street Corporation
- **Aliases**: BoA, BofA, BANK OF AMERICA CORPORATION
- **Website**: [www.bankofamerica.com](https://www.bankofamerica.com/)
- **Wikidata ID**: Q242345
- **Wikipedia Title**: Bank of America
- **Sitelink Count**: 59 (Wikipedia links)
- **Member Of**: S&P 500, Dow Jones Industrial Average, Fortune 500
- **Follows**: Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency
- **Products**: Checking accounts, savings accounts, credit cards, loans, investment services
- **Awards Received**: Silver Anvil Award (Public Relations Society of America)

## FAQs
**What is Bank of America's primary business focus?**
Bank of America specializes in banking and financial services, offering a wide range of products including retail banking, investment banking, mortgage lending, and wealth management. It operates as a major financial institution with a significant global presence.

**Who founded Bank of America, and when was it established?**
Bank of America was founded in 1784 through the merger of Bank of North America and Bank of Nootka. It has evolved into one of the largest banks in the United States.

**What services does Bank of America offer?**
Bank of America offers a comprehensive range of financial services, including retail banking, investment banking, mortgage lending, and wealth management. It caters to both individual clients and institutional investors.

**Where is Bank of America headquartered?**
Bank of America's headquarters is located in Charlotte, North Carolina, United States, a major financial hub.

**How many employees does Bank of America have?**
Bank of America employs approximately 209,000 people, reflecting its significant presence in the financial services sector.

**What is Bank of America's revenue and net profit?**
Bank of America reported revenue of $83.4 billion in 2023 and $85.5 billion in 2022. Its net profit was $15.9 billion in 2023 and $14.9 billion in 2022.

**What is Bank of America's total asset value?**
Bank of America manages total assets of $2.1 trillion, indicating its substantial financial footprint.

**What are Bank of America's key products?**
Bank of America's key products include checking accounts, savings accounts, credit cards, loans, and investment services, tailored to meet diverse client needs.

**Who are some notable figures associated with Bank of America?**
Notable figures associated with Bank of America include Brian Moynihan, the current CEO, and previous CEOs such as Kenneth D. Lewis and Robert A. King.

**What is Bank of America's relationship with other financial institutions?**
Bank of America has a strategic partnership with Merrill Lynch, having acquired it in 2009. This partnership allows Bank of America to expand its services and reach.

## Why It Matters
Bank of America plays a crucial role in the U.S. financial sector as a leading provider of banking and financial services. Its integration with Merrill Lynch enhances its ability to serve a broad clientele, from individual investors to large institutions. By offering comprehensive financial solutions, Bank of America contributes to economic stability and growth. Its historical significance as a pioneer in banking and financial services underscores its enduring influence. Additionally, Bank of America's role in shaping financial markets and advising clients on financial planning and investment strategies makes it a vital player in the global economy.

## Notable For
- **Historical Significance**: One of the oldest and most respected names in banking, with a legacy dating back to 1784.
- **Financial Leadership**: Manages substantial assets and revenue, reflecting its strong financial position.
- **Diverse Services**: Offers a wide range of financial products, including checking accounts, savings accounts, credit cards, loans, and investment services.
- **Strategic Partnership**: As a major financial institution, it benefits from extensive financial infrastructure and resources.
- **Notable Figures**: Associated with influential figures like Brian Moynihan and Kenneth D. Lewis.
- **Global Reach**: Operates in a major financial hub, Charlotte, North Carolina, with a significant international presence.
- **Innovation**: Continuously evolves to meet the changing needs of its clients and the financial market.
- **Public Company**: Listed on the New York Stock Exchange, with major shareholders including The Vanguard Group, BlackRock, and State Street Corporation.
- **Awards and Recognition**: Receiving prestigious awards, such as the Silver Anvil Award, and being a member of major stock market indices, including the S&P 500 and Dow Jones Industrial Average.

## Body

### History
Bank of America was founded in 1784 through the merger of Bank of North America and Bank of Nootka. Over the decades, it grew into a prominent player in the banking and financial services industry. In 2009, Merrill Lynch was acquired by Bank of America, becoming a division of the larger financial institution. This acquisition allowed Bank of America to expand its reach and leverage Merrill Lynch's resources.

### Services and Products
Bank of America offers a comprehensive range of financial services, including retail banking, investment banking, mortgage lending, and wealth management. Its key products cater to individual investors and institutional clients, providing tailored solutions for financial planning, asset management, and financial advice. The company's services are designed to help clients achieve their financial goals and secure their financial futures.

### Financial Performance
Bank of America has demonstrated strong financial performance, with revenue of $83.4 billion in 2023 and $85.5 billion in 2022. Its net profit was $15.9 billion in 2023 and $14.9 billion in 2022, reflecting its profitability and financial health. The company manages total assets of $2.1 trillion, indicating its substantial financial footprint and influence in the market.

### Headquarters and Operations
Bank of America's headquarters is located in Charlotte, North Carolina, United States, a major global financial hub. The city's status as a financial capital enhances Bank of America's ability to serve clients both domestically and internationally. The headquarters serves as the central hub for the company's operations, strategic planning, and client engagement.

### Notable Figures
Several notable figures have been associated with Bank of America, including Brian Moynihan, the current CEO, and previous CEOs such as Kenneth D. Lewis and Robert A. King. These individuals played significant roles in the company's development and leadership, contributing to its reputation and success. Their contributions have helped shape Bank of America's identity and influence in the financial sector.

### Relationship with Merrill Lynch
Bank of America's relationship with Merrill Lynch is a strategic partnership that has allowed the company to expand its services and reach. As a major financial institution, Bank of America benefits from the resources and expertise of Merrill Lynch. This collaboration enhances Bank of America's ability to provide comprehensive financial solutions to its clients.

### Digital Presence
Bank of America maintains a strong digital presence through its official websites, including [www.bankofamerica.com](https://www.bankofamerica.com/). These platforms provide clients with access to financial tools, resources, and expert advice. The company's digital footprint reflects its commitment to innovation and client service.

### Affiliations and Partnerships
Bank of America is affiliated with various organizations and individuals, including The Vanguard Group, BlackRock, and State Street Corporation. These affiliations contribute to Bank of America's network and expertise, enhancing its ability to serve clients and navigate the financial landscape.

### Key People
Key figures associated with Bank of America include Brian Moynihan, Kenneth D. Lewis, and Robert A. King. Brian Moynihan, the current CEO, has been with the company since 2019. Kenneth D. Lewis and Robert A. King have also made significant contributions to Bank of America's leadership and operations.

### Industry and Classification
Bank of America operates in the financial services industry, specifically within banking and financial services. It is classified as a business entity and a juridical person, with a focus on generating economic profit. The company's classification aligns with its role as a financial services provider and its commitment to commercial and professional activities.

### Global Knowledge and Library Indices
Bank of America is extensively indexed across global library and semantic web systems. It holds various identifiers, including a Dewey Decimal Classification, Library of Congress Authority ID, and Art & Architecture Thesaurus ID. These indices reflect Bank of America's significance in the financial sector and its presence in global knowledge systems.

### Digital Presence and Media
Bank of America has a significant digital presence, with sitelinks in multiple languages and platforms. It is described in encyclopedias such as the Encyclopædia Britannica and the Great Russian Encyclopedia. The company's digital footprint includes social media accounts, encyclopedic entries, and other digital resources.

### Identifiers and Aliases
Bank of America utilizes a wide range of unique identifiers and multilingual aliases. These identifiers include Wikidata, Wikipedia, and other global knowledge graphs. The company's aliases, such as BoA and BofA, reflect its historical and operational identity.

### Ownership and Structure
Bank of America is owned by The Vanguard Group, BlackRock, and State Street Corporation, with a headquarters in Charlotte, North Carolina. The company operates as a major financial institution, leveraging its financial resources and infrastructure. Its structure includes various departments and teams dedicated to banking, financial services, and client service.

### Financial Services and Economic Impact
Bank of America's financial services contribute to the global economy by providing banking and financial solutions. Its economic impact is reflected in its revenue, net profit, and total assets. The company's services play a crucial role in supporting economic stability and growth.

### Cultural and Historical Significance
Bank of America's cultural and historical significance is reflected in its legacy as a pioneer in banking and financial services. The company's contributions to the financial sector have shaped its identity and influence. Its historical role in the development of financial services underscores its enduring significance.

### Future Outlook
Bank of America continues to evolve and adapt to meet the changing needs of its clients and the financial market. Its strategic partnerships, innovative services, and strong financial position position it for continued success and growth. The company's commitment to excellence and client service ensures its relevance and influence in the financial sector.

## References

1. [Source](https://www.unepfi.org/net-zero-banking/members/)
2. [Source](https://www.lobbyfacts.eu/datacard/bank-of-america-corporation?rid=53891615036-88)
3. [Source](http://media.corporate-ir.net/media_files/IROL/71/71595/BOAML_2019_Proxy.pdf)
4. [programme](http://n2t.net/ark:/62930/f1qk74)
5. GRID Release 2017-01-10
6. Virtual International Authority File
7. [Source](https://www.ishares.com/us/products/239723/ishares-sp-100-etf)
8. [Source](https://www.w3.org/Consortium/Member/List)
9. [Source](https://fidoalliance.org/members/)
10. ROR release v1.19
11. Freebase Data Dumps. 2013
12. [Source](http://www.quotenet.com/stock-price/BAC)
13. [Source](https://www.sec.gov/Archives/edgar/data/70858/000007085818000009/bac-1231201710xk.htm)
14. [Source](https://www.sec.gov/ix?doc=/Archives/edgar/data/70858/000007085819000012/bac-1231201810xk.htm)
15. [Form 10-K. 2024](https://www.sec.gov/ix?doc=/Archives/edgar/data/70858/000007085824000122/bac-20231231.htm)
16. [Source](https://www.bloomberg.com/profile/company/BAC:US)
17. Global LEI Index
18. [Source](http://km.aifb.kit.edu/services/crunchbase/)
19. [Source](https://investor.bankofamerica.com/regulatory-and-other-filings/annual-reports/content/0000070858-21-000023/0000070858-21-000023.pdf)
20. [Source](http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1hSFIwY0RvdkwyRndhUzUwWlc1cmQybDZZWEprTG1OdmJTOWtiM2R1Ykc5aFpDNXdhSEEvWVdOMGFXOXVQVkJFUmlacGNHRm5aVDB4TURjMk9ETTNOaVp6ZFdKemFXUTlOVGM9JnR5cGU9MiZmbj1CYW5rb2ZBbWVyaWNhQ29ycG9yYXRpb25fMTBLXzIwMTYwMjI0LnBkZg==)
21. [Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/70858/000007085821000023/bac-20201231.htm)
22. [Form 10-K](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000070858/000007085822000062/bac-20211231.htm)
23. [Form 10-K. 2010](https://www.sec.gov/Archives/edgar/data/0000070858/000119312510041666/d10k.htm)
24. [Form 10-K. 2011](https://www.sec.gov/Archives/edgar/data/0000070858/000095012311018743/g25571e10vk.htm)
25. [Form 10-K. 2012](https://www.sec.gov/Archives/edgar/data/0000070858/000007085812000193/a8-kcovermay42012recast.htm)
26. [Form 10-K. 2013](https://www.sec.gov/Archives/edgar/data/0000070858/000007085813000097/bac-12312012x10k.htm)
27. [Form 10-K. 2014](https://www.sec.gov/Archives/edgar/data/0000070858/000007085814000012/bac-12312013x10k.htm)
28. [Form 10-K. 2015](https://www.sec.gov/Archives/edgar/data/0000070858/000007085815000049/form8-k04292015.htm)
29. [Form 10-K. 2016](https://www.sec.gov/Archives/edgar/data/0000070858/000007085816000223/form8-k11012016.htm)
30. [Form 10-K. 2017](https://www.sec.gov/Archives/edgar/data/0000070858/000007085817000013/bac-1231201610xk.htm)
31. [Form 10-K. 2023](https://www.sec.gov/Archives/edgar/data/0000070858/000007085823000092/bac-20221231.htm)
32. [Form 10-K. 2025](https://www.sec.gov/Archives/edgar/data/0000070858/000007085825000139/bac-20241231.htm)
33. [Source](http://www.reuters.com/finance/stocks/overview?symbol=BAC.N)
34. [Bank of America (BAC) Stock Key Data](https://www.forbes.com/companies/bank-of-america)
35. [Form 10-K. 2019](https://www.sec.gov/Archives/edgar/data/0000070858/000007085819000012/bac-1231201810xk.htm)
36. [Form 10-K. 2020](https://www.sec.gov/Archives/edgar/data/0000070858/000007085820000011/bac-1231201910xk.htm)
37. [Form 10-K. 2021](https://www.sec.gov/Archives/edgar/data/0000070858/000007085821000023/bac-20201231.htm)
38. [Form 10-K. 2022](https://www.sec.gov/Archives/edgar/data/0000070858/000007085822000062/bac-20211231.htm)
39. GRID Release 2016-12-06
40. [Source](https://www.bankofamerica.com/deposits/manage/faq-wire-transfers.go)
41. EU Transparency Register
42. [Source](https://www.youtube.com/channel/UCtHZ1qs5h4sx9TijVBQCMIA)
43. [Source](https://web.archive.org/web/20170709010548/http://newsroom.bankofamerica.com/press-releases/corporate-and-financial-news/brian-moynihan-elected-chairman-board-directors)
44. [Source](https://about.bankofamerica.com/annualmeeting/static/media/BAC_2021_ProxyStatement_ADA.612694a6.pdf)
45. [Source](https://www.marketscreener.com/quote/stock/BANK-OF-AMERICA-CORPORATI-11751/news/Bank-of-America-Corporation-Announces-Board-Changes-39593543/)
46. [Source](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2022/09/bank-of-america-names-jose-e--almeida-to-board-of-directors.html)
47. [Source](https://investor.bankofamerica.com/regulatory-and-other-filings/all-sec-filings/content/0001193125-22-067335/0001193125-22-067335.pdf)
48. Aligned ISNI and Ringgold identifiers for institutions
49. [Source](https://tools.wmflabs.org/whois/gateway.py?lookup=true&ip=171.128.0.0)
50. [Source](https://tools.wmflabs.org/whois/gateway.py?lookup=true&ip=171.192.0.0)