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Bank of America Corp. Feb 05
Standard & Poors, Feb 2005
Abstract
One-of-a-kind national banking franchise with 5,800 branches coast-to-coast Well-diversified sources of revenues from both banking and nonbanking businesses Profitability has improved to where it is more in line with that of peers Strong liquidity at both bank and holding company Mediocre capitalization Increasing headline risk The ratings are based on Bank of America Corp.'s (BoA) success in creating the first true nationwide banking franchise and its ability to convert this competitive advantage into improved financial performance. In other words, BoA is reaping the economic benefits from its coast-to-coast banking franchise. BoA's source of strength lies in its 5,800 retail branches, an unrivaled distribution network from which it gathers stable and inexpensive core deposit funding. Profitability measures have moved in line...
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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