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Wednesday, July 18, 2007

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he Best European PerformersThere are no flavor-of-the-month outfits or dot-com hangers-on in the European BusinessWeek 50. Only companies whose managers know how to earn money in good times and bad make the grade.Name an economic malady and Europe has it in abundance right now: sluggish economic growth, lackluster consumer spending, currency swings that hurt exports, and depressed stock markets. For that reason, BusinessWeek could not have picked a better time to launch its first annual ranking of Europe's 50 best-performing companies. You won't find any frothy flavor-of-the-month outfits or dot-com hangers-on among these stalwarts. The BW Europe 50 is instead studded with companies whose managers know how to make money in good times and bad. What do corporations such as British bank HBOS (No. 1), Belgian utility Electrabel (No. 4), and Swedish apparel retailer H&M Hennes & Mauritz (No. 8) have in common? All have made singular progress in boosting sales, increasing profits, and delivering superior returns to investors in these worst of times for much of Europe. "Such top performers excel mainly because of good management that knows what to do in a difficult environment," says Robert Parkes, a European analyst at HSBC Bank in London. "They're doing well because they've kept in touch with what their customers and shareholders want."Most of the companies that powered to the top of this inaugural list are top-notch names with the size, stamina, and savvy needed to thrive in turbulent times. Energy companies like Total and financial-services companies such as Royal Bank of Scotland Group figure prominently. So do retail and consumer-staple giants such as France's Carrefour and Switzerland's Nestlé. Notable by their absence are Europe's big technology and telecom companies. Only three made it onto our top 50 list: France's Bouygues, Italy's Telecom Italia Mobile, and Finland's Nokia. Absent from the top 50 are powerhouses such as Germany's SAP, Geneva-based STMicroelectronics, and France's Alcatel. Blame the poor tech showing on three years of weak revenue growth, poor profitability, and, most of all, sagging stock market valuations.As investors know all too well, companies can manage impressive profits one year, only to disappoint the next. That's why the BW Europe 50 rewards those with staying power. To generate our ranking we used a series of criteria that judge the performance of the companies in the Standard & Poor's Europe 350 stock index over both one and three years.The turmoil in the markets over the past year means that today's darling can become tomorrow's dog almost overnight. That's why it's important not to see the BW Europe ranking as an all-knowing investment guide. Even stellar performers have their ups and downs from year to year. Take German pharmaceutical firm Altana and Spanish construction and engineering company Grupo Dragados. They beat all comers with total returns of 160.2% and 140.6%, respectively, between June 30, 2000, and June 30, 2003. However, both companies have delivered lower returns in recent months and neither Altana nor Grupo Dragados would appear in the top 50 if the ranking was based simply on the returns generated over the past 12 months.There's a definite British tilt in the European BW 50: British enterprises dominate, accounting for 17 of the 50 and 6 of the top 10. In part, that's because Britain has the most publicly traded companies of any European nation. That automatically increases the odds for British companies. Other elements are at work, though: The British economy has outperformed the 12-member euro zone in each of the past three years, and British companies have benefited from more buoyant domestic demand. France and Spain are also well represented. By contrast, although the German economy is the biggest in Europe by far, there isn't a single German company among the top 20. "Many German companies, such as car manufacturers, are well managed," says Paul Strebel, a professor at the IMD-International Institute for Management Development in Lausanne, Switzerland. "But the environment is more difficult there in terms of the macro background and structural rigidities."What's the secret of Anglo-Saxon corporate prowess? British companies operate in a freer environment than many of their Continental competitors. They do not suffer from the same labor restrictions, heavy social-security burden, and other structural impediments that hold back enterprises in many countries. It would have been much more difficult for HBOS, Royal Bank of Scotland Group, and HSBC Holdings to cut costs and exploit synergies as aggressively as they have done over the past three years if they had been headquartered in Germany rather than Britain. Yet structural reforms now wending their way through the German parliament may give Teutonic companies a competitive jolt. Also, notable absentees from this year's list, such as Deutsche Bank, could well make it next year, thanks to their belated cost-cutting efforts.The European BW 50 also provides proof that, despite the long-standing argument over whether mergers generate shareholder value, they can and do create powerful, successful companies. HBOS and Royal Bank of Scotland, the two top-performing banks on the list, both British, prove the point. HBOS, which heads the overall ranking, was created in 2001 when Bank of Scotland joined forces with Halifax PLC, a mortgage specialist. A year earlier, Royal Bank of Scotland, No.3 on our list, acquired National Westminster Bank PLC. The merged entities now not only outrank British arch-rivals HSBC (No. 48) and Barclays PLC (No. 52), but also every bank on the Continent. "We have the financial strength and flexibility needed to sustain growth and manage risk in an uncertain world," says HBOS Chief Executive James Crosby. "Our merger continues to exceed expectations."Meanwhile, ongoing consolidation within the global pharmaceutical industry has produced some of Europe's biggest mergers. The 1999 union of Sweden's Astra and Britain's Zeneca gave birth to Europe's third-largest drug company -- and No.35 on our list. A year later, rival British drugmakers GlaxoWellcome and Smith-Kline Beecham joined forces, to form the global No. 2, behind Pfizer of the U.S.With a market value of 105 billion euros, GlaxoSmithKline PLC also ranks No.2 in the BW Europe 50. Glaxo boosted net income 27% last year to produce an astounding 62% return on equity in 2002. Despite shareholder criticism of the size of senior executive pay-packages, CEO Jean-Pierre Garnier told shareholders in May that the group's "effective cost control" and "promising early-stage R&D pipeline" give it an edge over its competitors.One of the most striking things about the BW Europe 50 is the presence of so many energy and utility companies. In all, there are 13 producers, refiners, and distributors of oil, natural gas, and electricity. Some want to extract the energy and avoid the costly business of selling the end product. Oil giant Total, for example, is making a major bet on finding new acreage. "We are benefiting from a very clear long-term strategy of giving priority to the upstream," said Christophe de Margerie, president of exploration and production.Total benefited from a rise in world oil prices, but those companies in power generation and distribution had to combat three years of stalled demand for power by consumers and companies. Plus, privatization, deregulation, and mounting competition have limited the ability of these companies to push through rate hikes. To make matters worse, many European energy outfits temporarily fell out of favor with investors following the collapse of Enron Corp. in 2001 on the other side of the Atlantic.Despite the tough odds, European power producers such as Belgium's Electrabel (No. 4) and Italy's ENI (No. 28) managed to assert themselves. Both have a commanding presence in their domestic markets. And, as a result of collapsing borders and deregulation, they have been able to push deep into markets elsewhere in the European Union. Electrabel has made significant breakthroughs into France, Italy, and Spain, and now chalks up 37% of its sales abroad. All told, Electrabel increased sales by 18% over the past year. Its success sends an important message to the rest of Europe: Companies that exploit opportunities stemming from deregulation and the single currency are poised to excel.Then there's retail. Stagnant economies and rising joblessness have caused consumers in many parts of the Old World to pull in their horns. At the same time, fierce competition and deflationary pressures have forced down prices for many goods. That's hardly an optimal climate for retail chains. Yet seven retailers of one sort or another made it into the European BW 50. British supermarket operator Tesco PLC (No. 10) shows that grocers can sparkle even in tough markets. The group, headquartered in Hertfordshire, England, spent 300 million euros last year in a successful bid to wrest market share from rivals such as J. Sainsbury PLC, slashing prices and opening 62 new stores in Britain. Whereas many retailers saw profits plunge, Tesco's surged 14% in 2002. Tesco also runs the world's most successful online supermarket, which it is now replicating from Korea to Central Europe to the U.S., via a partnership with its American peer, Safeway.Giving customers what they want at a reasonable price is also paying big dividends at Swedish apparel retailer H&M Hennes & Mauritz (No. 8). The chain has 893 stores in 17 countries and plans to open another 110 this year, including 20 in the U.S. "We've halved the time it takes to open new stores, to an average of four to five weeks," says CEO Rolf Eriksen. "This doesn't reduce start-up costs, but it does help accelerate sales."H&M has long been an investor favorite. On the flip side, companies that investors shunned just 12 months ago are back in favor. France Télécom, for example, generated a jaw-dropping 161.6% shareholder return over the past year, thanks to the appointment of turnaround whiz Thierry Breton as CEO and investor enthusiasm for his plan to slash the company's massive debt load and trim operating expenses. Despite its improved outlook, though, France Télécom didn't make it into the top 50 because its performance in the previous two years was so dire. The same goes for other telcos such as Deutsche Telekom and Britain's BT Group, which are rebounding but still dealing with post-boom excesses.Despite their strengths, many of the companies in the BW Europe 50 face new challenges. Although there are some signs that the euro- zone economy is finally beginning to recover, consumers are still reluctant to splurge on big-ticket items. According to the European Automobile Manufacturers' Assn., European car sales were down 2.6% in unit terms during the first six months of 2003. Notwithstanding cheap financing deals and special offers, demand for autos could drop further in the coming months. Innovation, expansion into new markets, and deft control over manufacturing will set the winners apart from the losers, and likely continue to benefit the four carmakers on our list: France's PSA Peugeot Citroën (No. 15), Renault (No. 19), Germany's BMW (No. 21), and Porsche (No. 27).Luxury carmakers Porsche and BMW are expected to boost revenues and outmaneuver rivals, even in the stagnant Western European market. As the U.S. and European car markets went into a tailspin, Porsche moved quickly to trim production of its classic 911 and Boxster models. It also introduced the Cayenne, a racy new sport-utility vehicle that is powering sales and more than offsetting the decline in sportscar sales. The Stuttgart-based carmaker has returned 39% in value to shareholders over the past three years.It does help that global consumers have demonstrated a willingness to spend more of their income on luxury cars. The premium auto segment is growing at nearly twice the annual clip of the mass market. "The outlook for German luxury brands in the U.S. is extremely bright in sedans and SUVs," says Stephen B. Cheetham, auto analyst at Sanford C. Bernstein & Co.Meanwhile, the strong euro is giving headaches to many European companies -- and that could eventually include the luxury carmakers. Most vulnerable are exporters and those with large dollar revenues. If, as some currency traders predict, the euro hits $1.25 by year end, BMW, Carrefour, Sanofi-Synthélabo, and other companies with large sales outside the euro zone could see their revenues crimped.Yet for every euro loser there will be a euro winner. Companies that source a large portion of their products outside Europe stand to gain, as wages and other production costs decline when measured in euros. H&M's Eriksen says his company has already reaped some benefits. "As the euro strengthens," he says, "so does our purchasing power. That enables us to pass on those gains to consumers through lower prices."Falling interest rates could also spell relief for European businesses. With the benchmark European Central Bank rate at 2%, interest rates for most companies in the euro zone are at their lowest level in a generation. And the consensus among economists is that the ECB will cut rates again before the end of the year. On the Continent, cheap money is changing the dynamics of corporate performance. For starters, it makes it easier for heavily indebted enterprises to refinance themselves, which is one reason why many telcos have been able to stage a recovery in recent months.The biggest impact of low interest rates could be to underpin the recovery of the equity markets and create an environment in which managers are once again willing to assume big capital-market risks, such as mergers and acquisitions.The process has already started. In June, Italy's Banca Generali acquired compatriot Banca Privamera for 50 million euros in cash and 202 million euros in shares. A return to the go-go days of the late 1990s is probably still a long way off, however. And despite all the uncertainties about the euro, interest rates, and the economy, the European companies that are likely to thrive over the next year will be the ones that can do what the winners have done over the past three years: cut costs, widen margins, develop a more intimate and lucrative relationship with customers, and generate more profits.By David Fairlamb, with Jack Ewing and Gail Edmondson in Frankfurt, Kerry Capell and Stanley Reed in London, and Andy Reinhardt in Paris, and Frederick F. Jespersen in New YorkGet BusinessWeek directly on your desktop with our RSS feeds.Add BusinessWeek news to your Web site with our headline feed.Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video.To subscribe online to BusinessWeek magazine, please click here.Learn more, go to the BusinessWeekOnline home page# posted by brijesh agarwal @ 10:19 PM 0 Comments banks-financeThursday, July 12, 2007Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.[3][4] Bank of America is the largest American company (by market capitalization) that is not part of the Dow Jones Industrial Average. On July 19, 2006, Bank of America reported second quarter 2006 net income of $5.48 billion,[5] surpassing that of Citigroup for the first time.Contents[hide]1 Corporate history1.1 Pre-1998 history1.1.1 Bank of Italy1.1.2 Growth in California1.1.3 Expansion outside of California1.2 Merger of NationsBank and BankAmerica1.3 History since 19981.3.1 Acquisition of National Processing Company1.3.2 FleetBoston Financial merger1.3.3 Purchase of MBNA1.3.4 Divestiture of Brazil operations1.3.5 Plans to acquire LaSalle Bank2 Bank of America today2.1 Consumer2.2 Corporate2.3 Investment Management2.4 Social responsibility3 Controversy and criticism4 International operations5 Bank of America corporate buildings6 Diversity7 Major sponsorships7.1 Official bank of8 References9 See also10 External links//[edit] Corporate historyIt has been suggested that NationsBank be merged into this article or section. (Discuss)Before 1993, the Bank of America that exists today was known as NationsBank, based in Charlotte, NC. In 1998, NationsBank merged with San Francisco-based BankAmerica and assumed the Bank of America name.[edit] Pre-1998 history[edit] Bank of ItalyThe roots of the pre-1998 Bank of America lie in the American Bank of Italy, founded in San Francisco by Amadeo Giannini in 1904. When the 1906 San Francisco earthquake struck, Giannini was able to get all of the deposits out of the bank building and away from the fires. Thus, unlike many other banks, he retained the confidence of the depositors and also had money to loan to those struck by the disaster.In the late 1920s, Giannini approached Orra E. Monnette, President and founder of the Los Angeles based Bank of America, Los Angeles about a potential merger between the two entities. The Los Angeles based bank had exhibited strong growth throughout the 1920s, due in part to its success in developing an advanced bank branching system. The merger of the two institutions was completed in early 1929 and took the name Bank of America. The combined company was headed by Giannini with Monnette serving as co-Chair.While the names of many nationally chartered banks end with the initials 'N.A.' (National Association), Giannini picked a unique ending, National Trust and Savings Association, or 'NT&SA', because he wanted the name to highlight the different functions of the bank. Bank of America was the only NT&SA in the country. Thanks to good management, but also to aggressive development of the branch banking concept, the bank was soon the largest in California.[edit] Growth in CaliforniaGiannini also sought to build a national bank, expanding into most of the western states as well as into the insurance industry, under the aegis of his holding company, Transamerica Corporation. Bank of America NT&SA also had banking relationships in international financial markets. Largely out of fear that Giannini would succeed in his efforts to create a nationwide bank, federal legislation prohibited banks from accepting deposits in states where they were not headquartered. This led to the creation of the bank holding company which could own a separate bank in each state.The passage of the Bank Holding Company Act of 1956, prohibited banks from owning non-banking subsidiaries such as insurance companies. Bank of America and Transamerica were separated, with the latter company continuing in the insurance business. However, federal banking regulators prohibited Bank of America's interstate banking activity, and Bank of America's domestic banks outside of California were forced into a separate company that eventually became First Interstate Bancorp, which was acquired by Wells Fargo and Company in 1996. It was not until the 1980s with a change in federal banking legislation and regulation that Bank of America was again able to expand its domestic consumer banking activity outside of California.California was the nation's fastest growing state during the post-World War II boom, with the highest use of checking accounts (partially driven by many soldiers being paid via bank accounts during World War II), resulting in Bank of America being swamped by checks. By 1949 , the branches had to close at 2:00pm in order to process the bookkeeping by 5:00 p.m. To cope with the transaction volume, the bank invested heavily in information technology and is generally credited, together with General Electric and SRI International, with inventing modern centralized bank operations, along with a number of financial transaction processing technologies such as automatic check processing, account numbers, and Magnetic Ink Character Recognition. Because of the efficiency of these technologies, the bank had significantly lower administrative costs than other banks and was able to expand until it became the world's largest bank in the early 1970s.These technologies also enabled credit cards to be linked directly to individual bank accounts. In 1958, the bank invented the bank credit card, the BankAmericard, which changed its name to VISA in 1977. A consortium of other California banks came up with Master Charge (now MasterCard) in order to compete with BankAmericard.[edit] Expansion outside of CaliforniaBank of America Corporate Center, located in the center of uptown Charlotte, North Carolina.Following passage of the Bank Holding Company Act of 1967, BankAmerica Corporation was established for the purpose of owning Bank of America and its subsidiaries.BankAmerica expanded outside California in 1983 with its acquisition of Seafirst Corporation of Seattle, Washington, and its wholly owned banking subsidiary, Seattle-First National Bank. Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank.BankAmerica was dealt huge losses in 1986 and 1987 due to the placement of a series of bad loans in the Third World, particularly in Latin America. The company fired its CEO, Sam Armacost, although Armacost blamed the problems on his predecessor, A.W. (Tom) Clausen, who was then appointed to replace Armacost. The losses resulted in a huge decline of BankAmerica stock, making it vulnerable to a hostile takeover. First Interstate Bancorp of Los Angeles (which had originated from banks once owned by BankAmerica), launched such a bid in the fall of 1986, although BankAmerica rebuffed it, mostly by selling its FinanceAmerica subsidiary to Chrysler, and by selling the brokerage firm Charles Schwab and Co. back to Mr. Schwab. On the day of the 1987 stock market crash, BankAmerica was trading at $8 per share, although by 1992 it had rebounded mightily to become one of the biggest gainers of that half-decade. The selling of the corporate headquarters building in downtown San Francisco to raise capital was a symbolic blow to the bank.[citation needed]BankAmerica's next big acquisition came in 1992. The company acquired its California rival, Security Pacific Corporation and its subsidiary Security Pacific National Bank in California and other banks in Arizona, Idaho, Oregon and Washington (which Security Pacific had acquired in a series of acquisitions in the late 1980s). This was, at the time, the biggest bank acquisition in history. Federal regulators nevertheless forced the sale of Security Pacific's Washington subsidiary, Rainier Bank, because the combination of Seafirst and Rainier would have given BankAmerica too large a share of the market in that state. Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada.In 1994 , BankAmerica acquired the Continental Illinois National Bank and Trust Co. of Chicago, which had become federally owned as part of the same oil industry debacle that had brought down Seafirst. At the time, no bank had the resources to bail out Continental, so the federal government operated the bank for nearly a decade. Illinois at that time regulated branch banking extremely heavily, so Bank of America Illinois was a single-unit bank until the 21st century. BankAmerica moved its national lending department to Chicago in an effort to establish a financial beachhead in the region.These mergers helped BankAmerica Corporation once again become the largest U.S. bank holding company in terms of deposits, but the company fell to second place in 1997 behind fast-growing NationsBank Corporation, and to third in 1998 behind North Carolina's First Union Corp. In 1998, BankAmerica and NationsBank executed a merger-of-equals and changed the headquarters to Charlotte, North Carolina.[edit] Merger of NationsBank and BankAmericaIn 1997, BankAmerica lent D.E. Shaw & Co., a large hedge fund, $1.4bn so that the hedge fund would run various businesses for the bank. However, D.E. Shaw suffered significant loss after 1998 Russia bond default. BankAmerica was later acquired by NationsBank that year.The purchase of BankAmerica Corp. by the NationsBank Corporation was the largest bank acquisition in history at that time. While the deal was technically a purchase of BankAmerica Corporation by NationsBank, the deal was structured as merger with NationsBank renamed to Bank of America Corporation, and Bank of America NT&SA, changing its name to Bank of America, N.A. as the remaining legal bank entity. The bank still operates under Federal Charter 13044 which was granted to Giannini's Bank of Italy on March 1, 1927. However, SEC filings before 1998 are listed under NationsBank, not BankAmerica.Following the US$64.8 billion acquisition of BankAmerica by NationsBank, the resulting Bank of America had combined assets of US$570 billion, as well as 4,800 branches in 22 states. Despite the mammoth size of the two companies, federal regulators insisted only upon the divestiture of 13 branches in New Mexico, in towns that would be left with only a single bank following the combination. This is because branch divestitures are only required if the combined company will have a larger than 25 percent FDIC deposit market share in a particular state or 10 percent deposit market share overall.[edit] History since 1998In 2001 , Bank of America CEO and chairman Hugh McColl stepped down and named Ken Lewis as his successor. Lewis's greater focus on financial discipline and efficiency contrasted greatly with the expansionary mergers and acquisition strategy of his predecessor.[edit] Acquisition of National Processing CompanyIn 2004 , Bank of America purchased Louisville, Kentucky-based National Processing Company for $1.4 billion from National City Corp. The renamed company - BA Merchant Services - has been processing one in every five VISA and MasterCard transactions. The company also has been providing financial solutions for travel and healthcare companies. BA Merchant Services has been headquartered in Louisville.[edit] FleetBoston Financial mergerAlso in 2004 , Bank of America acquired Boston, Massachusetts-based FleetBoston Financial for $47 billion to solidify Bank of America's position as the bank with the largest FDIC-rated deposit market share in the United States with $513 billion in deposits, well ahead of the number two bank holding company, newly-merged JPMorgan Chase-Bank One with $353 billion in deposits and number three Wells Fargo & Co. with $228 billion (as of 30 June 2003).[edit] Purchase of MBNAOn 30 June 2005, Bank of America announced it would purchase credit card giant MBNA for $35 billion in cash and stock. The Federal Reserve Board gave final approval to the merger on 15 December 2005, and the merger closed on 1 January 2006. The combined Bank of America Card Services organization, FIA Card Services - including the former MBNA - will have more than 40 million U.S. accounts and nearly $140 billion in outstanding balances.[edit] Divestiture of Brazil operationsIn May 2006, the Bank of America and Banco Itau - (Investimentos Ita S.A.) entered into an acquisition agreement through which the Banco agreed to acquire BankBoston's operations in Brazil. BankBoston's Brazil includes asset management, private banking, a credit card portfolio, and small, middle-market, and large corporate segments. It has 66 branches and 203,000 clients in Brazil. BankBoston in Chile has 44 branches and 58,000 clients and in Uruguay it has 15 branches. In addition, there is also a credit card Company, OCA, in Uruguay, which has 23 branches. BankBoston N.A. in Uruguay, together with OCA, jointly serve 372,000 clients. After the merger The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America. That, in practical terms, deemed the definite extinction of the BankBoston brand. Itaú also received exclusive rights to purchase BankBoston's operations in Chile and Uruguay. In return, Bank of America has taken about a 6% stake in Itaú. Banco Boston do Brazil had been founded in 1947 . With the purchase, the BankBoston name will disappear from Brazil as Bank of America has retained the rights to the name and in which they can't use the name due to the merger agreements.[edit] Plans to acquire LaSalle BankOn April 23, 2007, Bank of America announced plans to acquire LaSalle Bank Corporation from ABN AMRO for $21 billion,[6] which will increase Bank of America's presence in Illinois, Michigan, and Indiana. Bank of America was also expected to thereby become the largest bank in the Chicago market. The sale is expected to close in late 2007 or early 2008.[7] The LaSalle acquisition would put Bank of America just above the 10% mandated limit imposed by the Federal government of the total bank deposits in the country. However, on May 3, 2007 a Dutch court blocked the sale until it can be approved by shareholders of ABN AMRO as part of a larger merger discussion involving Barclays Bank and Royal Bank of Scotland(RBS). RBS has made a competing $24.5 billion bid for LaSalle Bank.[8] Both ABN AMRO and Bank of America appealed to the decision of the Dutch court, and on June 26, the Advocate-General advised to the highest Dutch court to destroy the regulation which blocked the sale, saying approval of the shareholders isn't necessary.[9] Since in four out of five cases the judgement of the highest court follows the advice by the Advocate-General, it is likely that the Bank of America can buy LaSalle without approval of ABN AMRO's shareholders.[edit] Bank of America todayBank of America ATMBank of America branch in Lowell, MA with error in signage.As a result of its mergers and acquisitions, Bank of America is now the largest issuer of credit, debit and prepaid cards in the world based on total purchase volume, as well as the largest consumer and small business bank in the United States.Bank of America today comprises three main divisions.[edit] ConsumerTypical Bank of America local officeGlobal Consumer and Small Business Banking is the largest division in the company, and deals primarily with consumer banking and credit card issuance. The acquisition of FleetBoston and MBNA significantly expanded its size and range of services, resulting in about 51% of the company's total revenue in 2005. It competes directly with the retail banking divisions of Citigroup and JPMorgan Chase. The GC&SBB organization includes over 5,700 retail branches and over 17,000 ATMs across the United States.Bank of America is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance with no fees when traveling internationally. Other participating banks are Barclays (United Kingdom), BNP Paribas (France), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (Mexico), Scotiabank (Canada) and Westpac (Australia and New Zealand).[10][edit] CorporateGlobal Corporate and Investment Banking, also known as Banc of America Securities, provides mergers and acquisitions advisory, underwriting, as well as trading in fixed income and equities markets. Its strongest groups include Leveraged Finance, Syndicated Loans, and Mortgage Backed Securities. It also has one of the largest research teams on Wall Street.[edit] Investment ManagementGlobal Wealth and Investment Management manages assets of institutions and individuals. It is among the 10 largest U.S. wealth managers (ranked by private banking assets under management in accounts of $1 million or more as of June 30, 2005). In July 2006, Chairman Ken Lewis announced that GWIM's total assets under management exceeded $500,000,000,000. GWIM has five primary lines of business: Premier Banking & Investments (including Banc of America Investment Services, Inc.), The Private Bank, Family Wealth Advisors, Columbia Management Group, and Banc of America Specialist.Bank of America is currently constructing a massive new headquarters for its New York City operations. The skyscaper will be located on 42nd Street and Avenue of the Americas, at Bryant Park, and will feature state of the art, environmentally-friendly technology throughout its 1.2 million square feet (111,484 m²) of office space. The building will be the headquarters for the company's investment banking division, and will also host most of Bank of America's New York-based staff.[edit] Social responsibilityIn the mid 2000s, Bank of America began accentuating its charitable side. In addition to its new eco-friendly office tower in Manhattan, Bank of America has pledged to spend billions on commercial lending and investment banking for projects that it considers "green". The corporation, which already supplied all of its employees with cash incentives to buy hybrid vehicles, is also helping its customers be eco-friendly by rolling out a new credit card program in 2007 that would donate money to helping the environment, as well as providing mortgage loan breaks for customers whose homes qualified as energy efficient.[11]In addition to trying to help the environment, Bank of America has also donated money to help health centers in Massachusetts[12] and made donations to help homeless shelters in Miami.[13][edit] Controversy and criticismMain article: Bank of America controversiesBank of America has been involved in a number of controversial issues. Many of its policies, such as "biggest check first" check clearing, overdraft fee policies, and early account closures, have become heavily criticized. Bank of America controversies details some of the more notable and public issues.[edit] International operationsIn 2005, Bank of America acquired a 9% stake in China Construction Bank, China's second largest bank, for $3 billion.[14] It represented the company's largest foray into China's growing banking sector. Bank of America currently has offices in Hong Kong, Shanghai, and Guangzhou and is looking to greatly expand its Chinese business as a result of this deal. Bank of America has also invested in opening new branches in India, particularly Mumbai.Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. In 2006, Bank of America sold all BankBoston's operations to Brazilian bank Banco Itaú, in exchange for Itaú shares. The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America. That, in practical terms, deemed the definite extinction of the BankBoston brand.Bank of America's Global Corporate and Investment Banking spans the Globe with divisions in United States, Europe and Asia. The U.S. headquarters are located in New York, European headquarters are based in London and Asia's headquarters are split between Singapore & Hong Kong.[edit] Bank of America corporate buildingsBank of America Plaza, Atlanta, GA.Bank of America Tower in Tampa, FloridaBank of America Fifth Avenue Plaza in SeattleColumbia Center in Seattle (formerly known as Bank of America Tower)Bank of America Tower in St Petersburg, FLBank of America Tower in Providence, RIBank of America Tower in New York City (under construction)Bank of America Tower in Jacksonville, FLBank of America Tower in Albuquerque, NMBank of America Tower in Hong KongBank of America Tower in Tampa, FLBank of America Plaza in St LouisBank of America Tower in Richmond, VABank of America Tower in Miami, FLBank of America Tower in Lubbock, TXBank of America Tower in Los AngelesBank of America Tower in Boca RatonBank of America Center in HoustonBank of America Center in San FranciscoBank of America Banking Center in Washington, DC (across from the White House)Bank of America Plaza in Atlanta, GABank of America Plaza in Charlotte, NC which is adjacent to the Bank of America Corporate CenterBank of America Plaza in Dallas, TXBank of America Building in Chicago, Illinois[edit] DiversityBank of America in Washington, D.C.Bank of America was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine. Furthermore, Amy Woods Brinkley, the Bank's Global Risk Executive, and Barbara Desoer, the Bank's Global Technology and Service Fulfillment Executive, were named two of the most powerful women in Banking by US Banker magazine, and were among the "top 50 most powerful women in business," as ranked by Fortune.[edit] Major sponsorshipsBank of America owns the naming rights of several venues in the sports world.Bank of America Stadium, Charlotte, North Carolina - Carolina Panthers, NFL.Bank of America Arena, Seattle, Washington - University of Washington men's and women's basketballBank of America 500, a NASCAR race that is hosted annually at Lowe's Motor Speedway, Concord, North Carolina[edit] Official bank ofUnited States Olympic TeamNASCARMajor League BaseballMinor League BaseballLittle LeagueCarolina Panthers, a NFL team.New England Patriots, a NFL teamBoston Red Sox, a MLB team.New York Yankees, a MLB team.San Francisco Giants, a MLB team.St. Louis Cardinals, a MLB team.New England Revolution, a MLS team.Ad campaigns that run during the Little League World Series and the World Series use the slogan "The Official Bank of Baseball."[edit] References^ Bank of America (2007-02-22). Bank of America to Unveil New Brand Campaign Celebrating the Power of Opportunity. Press release.^ Bank of America (2007-01-23). Bank of America Reports Record 2006 Earnings of $21.13 Billion, or $4.59 Per Share. Press release.^ The Largest Banks in the U.S. (List). The New York Job Source (2006-06-30).^ United States' Largest Banks (List). Pearson Education, Inc. (2005-12-31).^ Bank of America (2006-07-19). Bank of America Reports Record Second Quarter Earnings of $5.5 Billion, or $1.19 Per Share. Press release. Retrieved on 2007-05-05.^ ABN AMRO (2007-04-23). ABN AMRO announces USD 21 billion sale of LaSalle to Bank of America. Press release.^ Bank of America (2007-04-23). Bank of America Agrees to Acquire LaSalle Bank. Press release.^ "RBS Group Makes Bid for LaSalle", TheStreet.com, 2007-05-05. Retrieved on 2007-05-05.^ "Geen stemming nodig verkoop LaSalle", NU.nl, 2007-06-26. Retrieved on 2007-06-26.^ "Five big banks form Global ATM Alliance", ATMmarketplace.com. January 9, 2002. Accessed June 22, 2007.^ "Bank vows $20 billion for green projects", msnbc, 2007-03-07.^ Kowalczyk, Liz. "Bank to aid health centers", The Boston Globe, 2007-03-10.^ Freer, Jim. "BofA donates $1M to Camillus House", South Florida Business Journal, 2007-03-09.^ "Bank of America invests in China", BBC, 2005-06-17.Bonadio, Felice A. A.P. Giannini: Banker of America. Berkeley, Calif.: University of California Press, 1994.Hector, Gary. Breaking the Bank: The Decline of BankAmerica. Boston: Little, Brown, 1988.James, Marquie and Bessie. Biography of a Bank: The Story of Bank of America N.T.&S.A. New York: Harper and Brothers, 1954.Johnston, Moira. Roller Coaster: The Bank of America and the Future of American Banking. New York: Ticknor & Fields, 1990.Lampert, Hope. Behind Closed Doors: Wheeling and Dealing in the Banking World. New York: Atheneum, 1986.Monnette, Orra Eugene. Personal Papers Collection. Los Angeles Public Library (Main), Los Angeles California.Nash, Gerald G. A.P. Giannini and the Bank of America. Norman, Okla.: University of Oklahoma Press, 1992.Yockey, Ross. McColl: The Man with America's Money. Atlanta: Longstreet Press, 1999.Ahmed, Azam and Demirjian, Karoun. Credit offered to illegal residents., Chicago Tribune, Feb. 15, 2007.Boyle, Matthew. The Dirty Half-Dozen: America's Worst Boards For those who track bad corporate. Fortune, May 14, 2001.[edit] See alsoBanc of America Securities, Bank of America's investment banking divisionBanc of America Investment Services, Inc.FleetBostonMBNAList of bank mergers in United StatesBank of America CanadaBank of America (Asia)[edit] External linksBankOfAmerica.com PC / Mac homepageBOFA.mobi Mobile homepageYahoo! - Bank of America Corporation Company ProfileFor more information about bank market share, see the FDIC's web site, which includes historical data50 largest American banks and bank holding companiesABN AMRO North America • Associated • BancWest • Bank of America • Bank of New York Mellon • BB&T • BOK Financial • Capital One • Charles Schwab • Citigroup • Citizens Financial Group • Colonial • Comerica • Commerce Bancorp • Commerce Bancshares • Compass • Fifth Third • First BanCorp • First Citizens • First Horizon National • Fulton • Harris • HSBC Bank USA • Huntington • JPMorgan Chase • Key • M&T • Marshall & Ilsley • National City • New York Community • New York Private Bank & Trust • Northern Trust • PNC • Popular • Regions • RBC Centura • Sky • State Street • SunTrust • Synovus • Taunus • TD Banknorth • U.S. Bancorp • UnionBanCal • W Holding • Wachovia • Webster • Wells Fargo • Zions BancorporationRetrieved from "http://en.wikipedia.org/wiki/Bank_of_America"Categories: Current events as of April 2007 Companies listed on the New York Stock Exchange Companies listed on the Tokyo Stock Exchange Articles to be merged since April 2007 Articles with unsourced statements since May 2007 All articles with unsourced statements Companies established in 1874 Bank of America Banks of the United States Charlotte, North Carolina Companies based in North Carolina Bank of America legacy banksposted by parichay perikal j at 9:09 PM 0 Comments Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.[3][4] Bank of America is the largest American company (by market capitalization) that is not part of the Dow Jones Industrial Average. On July 19, 2006, Bank of America reported second quarter 2006 net income of $5.48 billion,[5] surpassing that of Citigroup for the first time.Contents[hide]1 Corporate history1.1 Pre-1998 history1.1.1 Bank of Italy1.1.2 Growth in California1.1.3 Expansion outside of California1.2 Merger of NationsBank and BankAmerica1.3 History since 19981.3.1 Acquisition of National Processing Company1.3.2 FleetBoston Financial merger1.3.3 Purchase of MBNA1.3.4 Divestiture of Brazil operations1.3.5 Plans to acquire LaSalle Bank2 Bank of America today2.1 Consumer2.2 Corporate2.3 Investment Management2.4 Social responsibility3 Controversy and criticism4 International operations5 Bank of America corporate buildings6 Diversity7 Major sponsorships7.1 Official bank of8 References9 See also10 External links//[edit] Corporate historyIt has been suggested that NationsBank be merged into this article or section. (Discuss)Before 1993, the Bank of America that exists today was known as NationsBank, based in Charlotte, NC. In 1998, NationsBank merged with San Francisco-based BankAmerica and assumed the Bank of America name.[edit] Pre-1998 history[edit] Bank of ItalyThe roots of the pre-1998 Bank of America lie in the American Bank of Italy, founded in San Francisco by Amadeo Giannini in 1904. When the 1906 San Francisco earthquake struck, Giannini was able to get all of the deposits out of the bank building and away from the fires. Thus, unlike many other banks, he retained the confidence of the depositors and also had money to loan to those struck by the disaster.In the late 1920s, Giannini approached Orra E. Monnette, President and founder of the Los Angeles based Bank of America, Los Angeles about a potential merger between the two entities. The Los Angeles based bank had exhibited strong growth throughout the 1920s, due in part to its success in developing an advanced bank branching system. The merger of the two institutions was completed in early 1929 and took the name Bank of America. The combined company was headed by Giannini with Monnette serving as co-Chair.While the names of many nationally chartered banks end with the initials 'N.A.' (National Association), Giannini picked a unique ending, National Trust and Savings Association, or 'NT&SA', because he wanted the name to highlight the different functions of the bank. Bank of America was the only NT&SA in the country. Thanks to good management, but also to aggressive development of the branch banking concept, the bank was soon the largest in California.[edit] Growth in CaliforniaGiannini also sought to build a national bank, expanding into most of the western states as well as into the insurance industry, under the aegis of his holding company, Transamerica Corporation. Bank of America NT&SA also had banking relationships in international financial markets. Largely out of fear that Giannini would succeed in his efforts to create a nationwide bank, federal legislation prohibited banks from accepting deposits in states where they were not headquartered. This led to the creation of the bank holding company which could own a separate bank in each state.The passage of the Bank Holding Company Act of 1956, prohibited banks from owning non-banking subsidiaries such as insurance companies. Bank of America and Transamerica were separated, with the latter company continuing in the insurance business. However, federal banking regulators prohibited Bank of America's interstate banking activity, and Bank of America's domestic banks outside of California were forced into a separate company that eventually became First Interstate Bancorp, which was acquired by Wells Fargo and Company in 1996. It was not until the 1980s with a change in federal banking legislation and regulation that Bank of America was again able to expand its domestic consumer banking activity outside of California.California was the nation's fastest growing state during the post-World War II boom, with the highest use of checking accounts (partially driven by many soldiers being paid via bank accounts during World War II), resulting in Bank of America being swamped by checks. By 1949 , the branches had to close at 2:00pm in order to process the bookkeeping by 5:00 p.m. To cope with the transaction volume, the bank invested heavily in information technology and is generally credited, together with General Electric and SRI International, with inventing modern centralized bank operations, along with a number of financial transaction processing technologies such as automatic check processing, account numbers, and Magnetic Ink Character Recognition. Because of the efficiency of these technologies, the bank had significantly lower administrative costs than other banks and was able to expand until it became the world's largest bank in the early 1970s.These technologies also enabled credit cards to be linked directly to individual bank accounts. In 1958, the bank invented the bank credit card, the BankAmericard, which changed its name to VISA in 1977. A consortium of other California banks came up with Master Charge (now MasterCard) in order to compete with BankAmericard.[edit] Expansion outside of CaliforniaBank of America Corporate Center, located in the center of uptown Charlotte, North Carolina.Following passage of the Bank Holding Company Act of 1967, BankAmerica Corporation was established for the purpose of owning Bank of America and its subsidiaries.BankAmerica expanded outside California in 1983 with its acquisition of Seafirst Corporation of Seattle, Washington, and its wholly owned banking subsidiary, Seattle-First National Bank. Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank.BankAmerica was dealt huge losses in 1986 and 1987 due to the placement of a series of bad loans in the Third World, particularly in Latin America. The company fired its CEO, Sam Armacost, although Armacost blamed the problems on his predecessor, A.W. (Tom) Clausen, who was then appointed to replace Armacost. The losses resulted in a huge decline of BankAmerica stock, making it vulnerable to a hostile takeover. First Interstate Bancorp of Los Angeles (which had originated from banks once owned by BankAmerica), launched such a bid in the fall of 1986, although BankAmerica rebuffed it, mostly by selling its FinanceAmerica subsidiary to Chrysler, and by selling the brokerage firm Charles Schwab and Co. back to Mr. Schwab. On the day of the 1987 stock market crash, BankAmerica was trading at $8 per share, although by 1992 it had rebounded mightily to become one of the biggest gainers of that half-decade. The selling of the corporate headquarters building in downtown San Francisco to raise capital was a symbolic blow to the bank.[citation needed]BankAmerica's next big acquisition came in 1992. The company acquired its California rival, Security Pacific Corporation and its subsidiary Security Pacific National Bank in California and other banks in Arizona, Idaho, Oregon and Washington (which Security Pacific had acquired in a series of acquisitions in the late 1980s). This was, at the time, the biggest bank acquisition in history. Federal regulators nevertheless forced the sale of Security Pacific's Washington subsidiary, Rainier Bank, because the combination of Seafirst and Rainier would have given BankAmerica too large a share of the market in that state. Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada.In 1994 , BankAmerica acquired the Continental Illinois National Bank and Trust Co. of Chicago, which had become federally owned as part of the same oil industry debacle that had brought down Seafirst. At the time, no bank had the resources to bail out Continental, so the federal government operated the bank for nearly a decade. Illinois at that time regulated branch banking extremely heavily, so Bank of America Illinois was a single-unit bank until the 21st century. BankAmerica moved its national lending department to Chicago in an effort to establish a financial beachhead in the region.These mergers helped BankAmerica Corporation once again become the largest U.S. bank holding company in terms of deposits, but the company fell to second place in 1997 behind fast-growing NationsBank Corporation, and to third in 1998 behind North Carolina's First Union Corp. In 1998, BankAmerica and NationsBank executed a merger-of-equals and changed the headquarters to Charlotte, North Carolina.[edit] Merger of NationsBank and BankAmericaIn 1997, BankAmerica lent D.E. Shaw & Co., a large hedge fund, $1.4bn so that the hedge fund would run various businesses for the bank. However, D.E. Shaw suffered significant loss after 1998 Russia bond default. BankAmerica was later acquired by NationsBank that year.The purchase of BankAmerica Corp. by the NationsBank Corporation was the largest bank acquisition in history at that time. While the deal was technically a purchase of BankAmerica Corporation by NationsBank, the deal was structured as merger with NationsBank renamed to Bank of America Corporation, and Bank of America NT&SA, changing its name to Bank of America, N.A. as the remaining legal bank entity. The bank still operates under Federal Charter 13044 which was granted to Giannini's Bank of Italy on March 1, 1927. However, SEC filings before 1998 are listed under NationsBank, not BankAmerica.Following the US$64.8 billion acquisition of BankAmerica by NationsBank, the resulting Bank of America had combined assets of US$570 billion, as well as 4,800 branches in 22 states. Despite the mammoth size of the two companies, federal regulators insisted only upon the divestiture of 13 branches in New Mexico, in towns that would be left with only a single bank following the combination. This is because branch divestitures are only required if the combined company will have a larger than 25 percent FDIC deposit market share in a particular state or 10 percent deposit market share overall.[edit] History since 1998In 2001 , Bank of America CEO and chairman Hugh McColl stepped down and named Ken Lewis as his successor. Lewis's greater focus on financial discipline and efficiency contrasted greatly with the expansionary mergers and acquisition strategy of his predecessor.[edit] Acquisition of National Processing CompanyIn 2004 , Bank of America purchased Louisville, Kentucky-based National Processing Company for $1.4 billion from National City Corp. The renamed company - BA Merchant Services - has been processing one in every five VISA and MasterCard transactions. The company also has been providing financial solutions for travel and healthcare companies. BA Merchant Services has been headquartered in Louisville.[edit] FleetBoston Financial mergerAlso in 2004 , Bank of America acquired Boston, Massachusetts-based FleetBoston Financial for $47 billion to solidify Bank of America's position as the bank with the largest FDIC-rated deposit market share in the United States with $513 billion in deposits, well ahead of the number two bank holding company, newly-merged JPMorgan Chase-Bank One with $353 billion in deposits and number three Wells Fargo & Co. with $228 billion (as of 30 June 2003).[edit] Purchase of MBNAOn 30 June 2005, Bank of America announced it would purchase credit card giant MBNA for $35 billion in cash and stock. The Federal Reserve Board gave final approval to the merger on 15 December 2005, and the merger closed on 1 January 2006. The combined Bank of America Card Services organization, FIA Card Services - including the former MBNA - will have more than 40 million U.S. accounts and nearly $140 billion in outstanding balances.[edit] Divestiture of Brazil operationsIn May 2006, the Bank of America and Banco Itau - (Investimentos Ita S.A.) entered into an acquisition agreement through which the Banco agreed to acquire BankBoston's operations in Brazil. BankBoston's Brazil includes asset management, private banking, a credit card portfolio, and small, middle-market, and large corporate segments. It has 66 branches and 203,000 clients in Brazil. BankBoston in Chile has 44 branches and 58,000 clients and in Uruguay it has 15 branches. In addition, there is also a credit card Company, OCA, in Uruguay, which has 23 branches. BankBoston N.A. in Uruguay, together with OCA, jointly serve 372,000 clients. After the merger The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America. That, in practical terms, deemed the definite extinction of the BankBoston brand. Itaú also received exclusive rights to purchase BankBoston's operations in Chile and Uruguay. In return, Bank of America has taken about a 6% stake in Itaú. Banco Boston do Brazil had been founded in 1947 . With the purchase, the BankBoston name will disappear from Brazil as Bank of America has retained the rights to the name and in which they can't use the name due to the merger agreements.[edit] Plans to acquire LaSalle BankOn April 23, 2007, Bank of America announced plans to acquire LaSalle Bank Corporation from ABN AMRO for $21 billion,[6] which will increase Bank of America's presence in Illinois, Michigan, and Indiana. Bank of America was also expected to thereby become the largest bank in the Chicago market. The sale is expected to close in late 2007 or early 2008.[7] The LaSalle acquisition would put Bank of America just above the 10% mandated limit imposed by the Federal government of the total bank deposits in the country. However, on May 3, 2007 a Dutch court blocked the sale until it can be approved by shareholders of ABN AMRO as part of a larger merger discussion involving Barclays Bank and Royal Bank of Scotland(RBS). RBS has made a competing $24.5 billion bid for LaSalle Bank.[8] Both ABN AMRO and Bank of America appealed to the decision of the Dutch court, and on June 26, the Advocate-General advised to the highest Dutch court to destroy the regulation which blocked the sale, saying approval of the shareholders isn't necessary.[9] Since in four out of five cases the judgement of the highest court follows the advice by the Advocate-General, it is likely that the Bank of America can buy LaSalle without approval of ABN AMRO's shareholders.[edit] Bank of America todayBank of America ATMBank of America branch in Lowell, MA with error in signage.As a result of its mergers and acquisitions, Bank of America is now the largest issuer of credit, debit and prepaid cards in the world based on total purchase volume, as well as the largest consumer and small business bank in the United States.Bank of America today comprises three main divisions.[edit] ConsumerTypical Bank of America local officeGlobal Consumer and Small Business Banking is the largest division in the company, and deals primarily with consumer banking and credit card issuance. The acquisition of FleetBoston and MBNA significantly expanded its size and range of services, resulting in about 51% of the company's total revenue in 2005. It competes directly with the retail banking divisions of Citigroup and JPMorgan Chase. The GC&SBB organization includes over 5,700 retail branches and over 17,000 ATMs across the United States.Bank of America is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance with no fees when traveling internationally. Other participating banks are Barclays (United Kingdom), BNP Paribas (France), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (Mexico), Scotiabank (Canada) and Westpac (Australia and New Zealand).[10][edit] CorporateGlobal Corporate and Investment Banking, also known as Banc of America Securities, provides mergers and acquisitions advisory, underwriting, as well as trading in fixed income and equities markets. Its strongest groups include Leveraged Finance, Syndicated Loans, and Mortgage Backed Securities. It also has one of the largest research teams on Wall Street.[edit] Investment ManagementGlobal Wealth and Investment Management manages assets of institutions and individuals. It is among the 10 largest U.S. wealth managers (ranked by private banking assets under management in accounts of $1 million or more as of June 30, 2005). In July 2006, Chairman Ken Lewis announced that GWIM's total assets under management exceeded $500,000,000,000. GWIM has five primary lines of business: Premier Banking & Investments (including Banc of America Investment Services, Inc.), The Private Bank, Family Wealth Advisors, Columbia Management Group, and Banc of America Specialist.Bank of America is currently constructing a massive new headquarters for its New York City operations. The skyscaper will be located on 42nd Street and Avenue of the Americas, at Bryant Park, and will feature state of the art, environmentally-friendly technology throughout its 1.2 million square feet (111,484 m²) of office space. The building will be the headquarters for the company's investment banking division, and will also host most of Bank of America's New York-based staff.[edit] Social responsibilityIn the mid 2000s, Bank of America began accentuating its charitable side. In addition to its new eco-friendly office tower in Manhattan, Bank of America has pledged to spend billions on commercial lending and investment banking for projects that it considers "green". The corporation, which already supplied all of its employees with cash incentives to buy hybrid vehicles, is also helping its customers be eco-friendly by rolling out a new credit card program in 2007 that would donate money to helping the environment, as well as providing mortgage loan breaks for customers whose homes qualified as energy efficient.[11]In addition to trying to help the environment, Bank of America has also donated money to help health centers in Massachusetts[12] and made donations to help homeless shelters in Miami.[13][edit] Controversy and criticismMain article: Bank of America controversiesBank of America has been involved in a number of controversial issues. Many of its policies, such as "biggest check first" check clearing, overdraft fee policies, and early account closures, have become heavily criticized. Bank of America controversies details some of the more notable and public issues.[edit] International operationsIn 2005, Bank of America acquired a 9% stake in China Construction Bank, China's second largest bank, for $3 billion.[14] It represented the company's largest foray into China's growing banking sector. Bank of America currently has offices in Hong Kong, Shanghai, and Guangzhou and is looking to greatly expand its Chinese business as a result of this deal. Bank of America has also invested in opening new branches in India, particularly Mumbai.Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. In 2006, Bank of America sold all BankBoston's operations to Brazilian bank Banco Itaú, in exchange for Itaú shares. The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America. That, in practical terms, deemed the definite extinction of the BankBoston brand.Bank of America's Global Corporate and Investment Banking spans the Globe with divisions in United States, Europe and Asia. The U.S. headquarters are located in New York, European headquarters are based in London and Asia's headquarters are split between Singapore & Hong Kong.[edit] Bank of America corporate buildingsBank of America Plaza, Atlanta, GA.Bank of America Tower in Tampa, FloridaBank of America Fifth Avenue Plaza in SeattleColumbia Center in Seattle (formerly known as Bank of America Tower)Bank of America Tower in St Petersburg, FLBank of America Tower in Providence, RIBank of America Tower in New York City (under construction)Bank of America Tower in Jacksonville, FLBank of America Tower in Albuquerque, NMBank of America Tower in Hong KongBank of America Tower in Tampa, FLBank of America Plaza in St LouisBank of America Tower in Richmond, VABank of America Tower in Miami, FLBank of America Tower in Lubbock, TXBank of America Tower in Los AngelesBank of America Tower in Boca RatonBank of America Center in HoustonBank of America Center in San FranciscoBank of America Banking Center in Washington, DC (across from the White House)Bank of America Plaza in Atlanta, GABank of America Plaza in Charlotte, NC which is adjacent to the Bank of America Corporate CenterBank of America Plaza in Dallas, TXBank of America Building in Chicago, Illinois[edit] DiversityBank of America in Washington, D.C.Bank of America was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine. Furthermore, Amy Woods Brinkley, the Bank's Global Risk Executive, and Barbara Desoer, the Bank's Global Technology and Service Fulfillment Executive, were named two of the most powerful women in Banking by US Banker magazine, and were among the "top 50 most powerful women in business," as ranked by Fortune.[edit] Major sponsorshipsBank of America owns the naming rights of several venues in the sports world.Bank of America Stadium, Charlotte, North Carolina - Carolina Panthers, NFL.Bank of America Arena, Seattle, Washington - University of Washington men's and women's basketballBank of America 500, a NASCAR race that is hosted annually at Lowe's Motor Speedway, Concord, North Carolina[edit] Official bank ofUnited States Olympic TeamNASCARMajor League BaseballMinor League BaseballLittle LeagueCarolina Panthers, a NFL team.New England Patriots, a NFL teamBoston Red Sox, a MLB team.New York Yankees, a MLB team.San Francisco Giants, a MLB team.St. Louis Cardinals, a MLB team.New England Revolution, a MLS team.Ad campaigns that run during the Little League World Series and the World Series use the slogan "The Official Bank of Baseball."[edit] References^ Bank of America (2007-02-22). Bank of America to Unveil New Brand Campaign Celebrating the Power of Opportunity. Press release.^ Bank of America (2007-01-23). Bank of America Reports Record 2006 Earnings of $21.13 Billion, or $4.59 Per Share. Press release.^ The Largest Banks in the U.S. (List). The New York Job Source (2006-06-30).^ United States' Largest Banks (List). Pearson Education, Inc. (2005-12-31).^ Bank of America (2006-07-19). Bank of America Reports Record Second Quarter Earnings of $5.5 Billion, or $1.19 Per Share. Press release. Retrieved on 2007-05-05.^ ABN AMRO (2007-04-23). ABN AMRO announces USD 21 billion sale of LaSalle to Bank of America. Press release.^ Bank of America (2007-04-23). Bank of America Agrees to Acquire LaSalle Bank. Press release.^ "RBS Group Makes Bid for LaSalle", TheStreet.com, 2007-05-05. Retrieved on 2007-05-05.^ "Geen stemming nodig verkoop LaSalle", NU.nl, 2007-06-26. Retrieved on 2007-06-26.^ "Five big banks form Global ATM Alliance", ATMmarketplace.com. January 9, 2002. Accessed June 22, 2007.^ "Bank vows $20 billion for green projects", msnbc, 2007-03-07.^ Kowalczyk, Liz. "Bank to aid health centers", The Boston Globe, 2007-03-10.^ Freer, Jim. "BofA donates $1M to Camillus House", South Florida Business Journal, 2007-03-09.^ "Bank of America invests in China", BBC, 2005-06-17.Bonadio, Felice A. A.P. Giannini: Banker of America. Berkeley, Calif.: University of California Press, 1994.Hector, Gary. Breaking the Bank: The Decline of BankAmerica. Boston: Little, Brown, 1988.James, Marquie and Bessie. Biography of a Bank: The Story of Bank of America N.T.&S.A. New York: Harper and Brothers, 1954.Johnston, Moira. Roller Coaster: The Bank of America and the Future of American Banking. New York: Ticknor & Fields, 1990.Lampert, Hope. Behind Closed Doors: Wheeling and Dealing in the Banking World. New York: Atheneum, 1986.Monnette, Orra Eugene. Personal Papers Collection. Los Angeles Public Library (Main), Los Angeles California.Nash, Gerald G. A.P. Giannini and the Bank of America. Norman, Okla.: University of Oklahoma Press, 1992.Yockey, Ross. McColl: The Man with America's Money. Atlanta: Longstreet Press, 1999.Ahmed, Azam and Demirjian, Karoun. Credit offered to illegal residents., Chicago Tribune, Feb. 15, 2007.Boyle, Matthew. The Dirty Half-Dozen: America's Worst Boards For those who track bad corporate. Fortune, May 14, 2001.[edit] See alsoBanc of America Securities, Bank of America's investment banking divisionBanc of America Investment Services, Inc.FleetBostonMBNAList of bank mergers in United StatesBank of America CanadaBank of America (Asia)[edit] External linksBankOfAmerica.com PC / Mac homepageBOFA.mobi Mobile homepageYahoo! - Bank of America Corporation Company ProfileFor more information about bank market share, see the FDIC's web site, which includes historical data50 largest American banks and bank holding companiesABN AMRO North America • Associated • BancWest • Bank of America • Bank of New York Mellon • BB&T • BOK Financial • Capital One • Charles Schwab • Citigroup • Citizens Financial Group • Colonial • Comerica • Commerce Bancorp • Commerce Bancshares • Compass • Fifth Third • First BanCorp • First Citizens • First Horizon National • Fulton • Harris • HSBC Bank USA • Huntington • JPMorgan Chase • Key • M&T • Marshall & Ilsley • National City • New York Community • New York Private Bank & Trust • Northern Trust • PNC • Popular • Regions • RBC Centura • Sky • State Street • SunTrust • Synovus • Taunus • TD Banknorth • U.S. Bancorp • UnionBanCal • W Holding • Wachovia • Webster • Wells Fargo • Zions BancorporationRetrieved from "http://en.wikipedia.org/wiki/Bank_of_America"Categories: Current events as of April 2007 Companies listed on the New York Stock Exchange Companies listed on the Tokyo Stock Exchange Articles to be merged since April 2007 Articles with unsourced statements since May 2007 All articles with unsourced statements Companies established in 1874 Bank of America Banks of the United States Charlotte, North Carolina Companies based in North Carolina Bank of America legacy banksposted by parichay perikal j at 9:09 PM 0 Comments American Express Bank, FSB. http://www.americanexpress.com:80/ Details > American Express Centurion Bank http://www.americanexpress.com:80/ Details > Associated Bank, National Association http://www.associatedbank.com:80/ Details > Astoria Federal Savings and Loan Association http://www.astoriafederal.com:80/ Details > Banco Popular de Puerto Rico http://www.bancopopular.com:80/ Details > Banco Popular North America http://www.bancopopular.com:80/ Details > BancorpSouth Bank http://www.bancorpsouth.com:80/ Details > Bank of America Oregon, National Association http://www.bankofamerica.com:80/ Details > Bank of America, National Association http://www.bankofamerica.com:80/ Details > Bank of Oklahoma, National Association http://www.bankofoklahoma.com:80/ Details > Bank of the West http://www.bankofthewest.com:80/ Details > BankUnited, FSB http://www.bankunited.com:80/ Details > Branch Banking and Trust Company http://www.bbandt.com:80/ Details > Capital One Bank http://www.capitalone.com:80/ Details > Capital One, F.S.B. http://www.capitalone.com:80/ Details > Capital One, National Association http://www.capitalone.com:80/ Details > Charter One Bank, National Association http://www.citizensbank.com:80/ Details > Chase Bank USA, National Association http://www.chase.com:80/ Details > Chevy Chase Bank, F.S.B. http://www.chevychasebank.com:80/ Details > Citibank (South Dakota), N.A. Details > Citibank, National Association http://www.citibank.com:80/ Details > Citicorp Trust Bank, fsb http://www.citicorptrustbank.com:80/ Details > Citizens Bank of Massachusetts http://www.citizensbank.com:80/ Details > Citizens Bank of Pennsylvania http://www.citizensbank.com:80/ Details > Citizens Bank of Rhode Island http://www.citizensbank.com:80/ Details > Citizens Bank, N.A. http://www.citizensbank.com:80/ Details > City National Bank http://www.cnb.com:80/ Details > Colonial Bank, National Association http://www.colonialbank.com:80/ Details > Comerica Bank http://www.comerica.com:80/ Details > Commerce Bank, National Association http://www.commerceonline.com:80/ Details > Commerce Bank, National Association http://www.commercebank.com:80/ Details > Compass Bank http://www.compassbank.com:80/ Details > Countrywide Bank, National Association http://www.countrywidebank.com:80/ Details > Deutsche Bank Trust Company Americas http://www.db.com:80/ Details > Discover Bank http://www.discovercard.com:80/ Details > Downey Savings and Loan Association, F.A. http://www.downeysavings.com:80/ Details > E*TRADE Bank http://www.etrade.com:80/ Details > FIA Card Services, National Association http://www.mbna.com:80/ Details > Fifth Third Bank http://www.53.com:80/ Details > Fifth Third Bank http://www.53.com:80/ Details > First Hawaiian Bank http://www.fhb.com:80/ Details > First Tennessee Bank, National Association http://www.firsttennessee.com:80/ Details > First-Citizens Bank & Trust Company http://www.firstcitizens.com:80/ Details > Firstbank of Puerto Rico http://www.firstbankpr.com/ Details > Flagstar Bank, FSB http://www.flagstar.com:80/ Details > Fremont Investment & Loan http://www.1800fremont.com:80/ Details > GE Money Bank http://www.gemoney.com:80/ Details > Guaranty Bank http://www.guarantygroup.com:80/ Details > Harris National Association http://www.harrisbank.com:80/ Details > HSBC Bank USA, National Association http://www.banking.us.hsbc.com:80/ Details > Hudson City Savings Bank http://www.hudsoncitysavingsbank.com:80/ Details > IndyMac Bank, F.S.B. http://www.indymacbank.com:80/ Details > ING Bank, fsb http://www.ingdirect.com:80/ Details > Investors Bank & Trust Company http://www.ibtco.com:80/ Details > JPMorgan Chase Bank, National Association http://www.jpmorganchase.com:80/ Details > Keybank National Association http://www.key.com:80/ Details > LaSalle Bank Midwest National Association http://www.lasallebankmidwest.com:80/ Details > LaSalle Bank National Association http://www.lasallebanks.com:80/ Details > Lehman Brothers Bank, FSB http://www.lehmanbrothersbank.com:80/ Details > M&I Marshall and Ilsley Bank http://www.mibank.com:80/ Details > Manufacturers and Traders Trust Company http://www.mandtbank.com:80/ Details > Mellon Bank, National Association http://www.mellon.com:80/ Details > Merrill Lynch Bank USA http://www.ml.com:80/ Details > Mid America Bank, FSB http://www.midamericabank.com:80/ Details > Morgan Stanley Bank Details > National City Bank http://www.nationalcity.com:80/ Details > National Motors Bank FSB http://www.gmacbank.com:80/ Details > New York Community Bank http://www.mynycb.com:80/ Details > North Fork Bank http://www.northforkbank.com:80/ Details > Ohio Savings Bank, F.S.B. http://www.ohiosavings.com:80/ Details > PNC Bank, National Association http://www.pnc.com:80/ Details > RBC Centura Bank http://www.rbccentura.com:80/ Details > Regions Bank http://www.regions.com:80/ Details > Sky Bank http://www.sky-bank.com:80/ Details > Sovereign Bank http://www.sovereignbank.com:80/ Details > State Farm Bank, F.S.B. http://www.statefarm.com:80/ Details > State Street Bank and Trust Company http://www.statestreet.com:80/ Details > SunTrust Bank http://www.suntrust.com:80/ Details > TCF National Bank http://www.tcfexpress.com:80/ Details > TD Bank USA, National Association http://www.tdbankusa.com:80/ Details > TD BankNorth, National Association http://www.tdbanknorth.com:80/ Details > The Bank of New York http://www.bankofny.com:80/ Details > The Frost National Bank http://www.frostbank.com:80/ Details > The Huntington National Bank http://www.huntington.com:80/ Details > The Northern Trust Company http://www.northerntrust.com:80/ Details > U.S. Bank National Association http://www.usbank.com:80/ Details > UBS Bank USA http://www.ubs.com:80/bankusa/ Details > Union Bank of California, National Association http://www.unionbank.com:80/ Details > USAA Federal Savings Bank http://www.usaa.com:80/ Details > Valley National Bank http://www.valleynationalbank.com:80/ Details > Wachovia Bank, National Association http://www.wachovia.com:80/ Details > Washington Mutual Bank http://www.wamu.com:80/ Details > Washington Mutual Bank FSB http://www.wamu.com:80/ Details > Webster Bank, National Association http://www.websteronline.com:80/ Details > Wells Fargo Bank Northwest, National Association http://www.wellsfargo.com:80/ Details > Wells Fargo Bank, National Association http://www.wellsfargo.com:80/ Details > Westernbank Puerto Rico http://www.wbpr.com:80/ Details > World Savings Bank, FSB http://www.worldsavings.com:80/ Details > World Savings Bank, FSB (Texas) http://www.worldsavings.com:80/ Details > Zions First National Bank http://www.zionsbank Total Assets over $1 Trillion - $50 BillionTotal Assets RankBankStockSymbolAssets 2006($billions)* Revenue 2005**($millions) Market Cap. 2006***($millions)Web**** influence (Pagerank)200619991 5 Bank of AmericaBAC1,105.056,923 215,900 8 2 4 JP MorganJPM1,093.4 54,533 143,190 8 3 2 CitibankC749.3 83,642 240,460 8 4 18 WachoviaWB496.6 23,689 85,390 7 5 10 Wells FargoWFC415.8 32,949 111,960 8 6 11 Washington MutualWM347.4 15,588 42,960 7 7 16 US BancorpUSB208.9 13,133 55,550 7 8 20 SunTrust BankSTI178.3 7,731 27,850 7 9 32 N/AN/AN/A N/A N/A N/A 10 28 World SavingsGDW127.0 6,200 22,410 5 11 29 State Street Bank and TrustSTT91.93 5,473 19,370 7 12 15 Key BankKEY88.88 4,868 14,200 7 13 19 Bank of New YorkBK87.75 6,865 24,470 7 14 14 PNC BankPNC84.41 3,734 20,300 6 15 47 MBNABAC81.25 N/A N/A 7 16 38 Branch Banking and Trust CompanyBBT81.17 5,506 22,440 5 17 43 Regions FinancialRF80.36 4,310 15,290 6 18 N/A CountryWide FinancialCFC79.88 10,017 22.54 6 19 N/A La Salle BankN/A75.19 N/A N/A 7 20 22 National City BankNCC72.95 8,031 21,850 6 21 1 Chase BankJPM69.75 N/A N/A 7 22 61 Sovereign BankSOV65.05 2,919 7,770 7 23 N/A Merrill Lynch BankMER62.04 26,009 62,470 6 24 N/A ING DirectING59.41 57,230 83,919 7 25 46 Fifth Third BankFITB57.68 4,995 20,540 6 26 98 North Fork BankNFB57.21 2,778 13,990 6 27 30 ComericaCMA57.07 3,596 8,630 7 28 N/A Bank of the West N/A 54.76 2,052 N/A 7 29 62 M&T BankMTB54.68 2,789 12,870 6 30 53 AmSouth BancorpASO52.82 2,481 9,220 Total Assets RankBankStockSymbolAssets 2006($billions)* Revenue 2005**($millions) Market Cap. 2006***($millions)Web**** influence (Pagerank)2006199931 35 Union BankUB48.06 1,839 9,650 7 32 49 Charter One BankN/A44.00 6,612 N/A 6 33 41 Northern TrustNTRS41.83 2,623 11,860 6 34 N/A TD BankNorthTD40.78 998 36,310 5 35 51 M&I Marshall and Ilsley BankMI40.06 2,214 11,400 6 36 60 First TennesseeFHN37.00 1,369 4,830 6 37 73 Commerce BankCBSH36.96 502 3,380 6 38 45 Harris BankN/A36.52 N/A N/A 6 39 N/A Deutsche BankDB36.03 52,228 54,310 8 40 40 Huntington BancsharesHBAN35.24 1,092 5,770 6 41 80 Citizens Bank of Pennsylvania N/A 35.08 N/A N/A 7 42 N/A E-Trade FinancialET33.73 1,704 9,390 7 43 64 Compass BankCBSS32.84 1,628 7,180 6 44 N/A Capital One COF 30.30 5,727 25,800 7 45 86 Hudson City Savings BankHCBK29.68 562 7,720 4 46 N/A New York Community BancorpNYB26.48 1,156 4,800 5 47 N/A Banco Popular North AmericaBPOP26.12 2,667 5,310 7 Top 100 USA BanksInstitution Name City State Class Total Assets($000) NationsBank Charlotte NC N 317,127,010 Citibank New York City NY N 300,895,010 The Chase Manhattan Bank New York City NY SM 296,716,990 Bank of America San Francisco CA N 257,479,010 First Union National Bank Charlotte NC N 222,483,330 Morgan Guaranty Trust Company of New York New York City NY SM 175,827,040 Washington Mutual Bank Stockton CA SA 129,628,900 Bankers Trust Company New York City NY SM 104,558,000 Wells Fargo Bank San Francisco CA N 87,262,000 Fleet National Bank Providence RI N 75,601,000 The First National Bank of Chicago Chicago IL N 74,200,904 Keybank Cleveland OH N 73,861,936 PNC Bank Pittsburgh PA N 71,230,424 U.S. Bank Minneapolis MN N 69,713,104 BankBoston Boston MA N 69,547,464 Wachovia Bank Winston-Salem NC N 62,005,844 The Bank of New York New York City NY SM 60,077,664 California Federal Bank San Francisco CA SA 54,580,196 Republic National Bank New York City NY N 46,460,476 State Street Bank and Trust Company Boston MA SM 43,184,640 Mellon Bank Pittsburgh PA N 42,235,016 SouthTrust Bank Birmingham AL N 38,053,608 Regions Bank Birmingham AL NM 37,128,224 HSBC Bank USA Buffalo NY SM 33,775,944 Chase Manhattan Bank USA Wilmington DE N 32,987,896 Washington Mutual Bank Seattle WA SB 32,466,192 Union Bank of California San Francisco CA N 32,052,676 World Savings Bank Oakland CA SA 31,958,984 Norwest Bank Minnesota Minneapolis MN N 31,293,664 National City Bank Cleveland OH N 31,049,288 Bank One Columbus OH N 30,412,754 Summit Bank Hackensack NJ SM 29,504,016 Comerica Bank Detroit MI SM 29,375,424 The Huntington National Bank Columbus OH N 28,108,380 Fleet Bank Jersey City NJ N 27,978,000 Crestar Bank Richmond VA SM 27,619,700 Union Planters Bank Memphis TN N 27,406,926 Branch Banking and Trust Company Winston-Salem NC NM 25,985,004 Bank One, Texas Dallas TX N 25,543,468 Bank of America Portland OR SA 25,526,618 Chase Bank of Texas Houston TX N 24,487,900 Charter One Bank Cleveland OH SA 24,167,048 MBNA America Bank Wilmington DE N 23,602,348 The Northern Trust Company Chicago IL SM 23,304,248 NBD Bank Detroit MI SM 22,954,782 Mercantile Bank of St. Louis St. Louis MO N 22,790,986 LaSalle National Bank Chicago IL N 22,445,396 The Dime Savings Bank New York City NY SA 22,294,732 Sovereign Bank Wyomissing PA SA 22,136,920 Phoenix AZ N 20,983,136 Citibank San Francisco CA SA 20,797,512 Astoria Federal Savings and Loan Association New York City NY SA 20,474,088 First American National Bank Nashville TN N 20,359,042 Manufacturers and Traders Trust Company Buffalo NY SM 20,073,708 AmSouth Bank Birmingham AL SM 19,833,148 National City Bank of Michigan/Illinois Bannockburn IL N 19,827,036 SunTrust Bank, Atlanta Atlanta GA SM 19,635,324 Standard Federal Bank Troy MI SA 19,331,824 Harris Trust and Savings Bank Chicago IL SM 18,100,792 First Tennessee Bank Memphis TN N 17,786,232 Star Bank Cincinnati OH N 17,330,738 First Security Bank Ogden UT N 17,238,560 FMB Bank Baltimore MD SM 17,114,704 Compass Bank Birmingham AL SM 16,485,159 Old Kent Bank Grand Rapids MI SM 16,382,432 Greenwood Trust Company Greenwood DE NM 16,119,518 National City Bank of Indiana Indianapolis IN N 14,973,764 Bank United Houston TX SA 14,791,526 Bank One, Louisiana Baton Rouge LA N 14,292,867 Citibank (South Dakota) Sioux Falls SD N 14,196,820 European American Bank New York City NY SM 14,150,608 GreenPoint New York City NY SB 13,885,686 Bank of Hawaii Honolulu HI NM 13,589,292 Hibernia National Bank New Orleans LA N 13,352,531 National City Bank Pittsburgh PA N 13,308,989 American Express Centurion Bank Midvale UT NM 12,789,098 LaSalle Bank Chicago IL SA 12,732,582 Commercial Federal Bank Omaha NE SA 12,178,339 Guaranty Federal Bank Dallas TX SA 12,058,326 The Fifth Third Bank Cincinnati OH SM 11,727,877 National City Bank of Kentucky Louisville KY N 10,906,365 FCC National Bank Wilmington DE N 10,847,599 Michigan National Bank Farmington Hills MI N 10,690,861 North Fork Bank Mattituck NY NM 10,562,432 Colonial Bank Montgomery AL SM 10,456,040 American National Bank and Trust Company of Chicago Chicago IL N 10,304,786 People's Bank Bridgeport CT SB 9,933,123 Norwest Bank Colorado Denver CO N 9,906,710 Citibank (New York State) Pittsford NY NM 9,886,058 NBD Bank Indianapolis IN N 9,832,686 First USA Bank Wilmington DE N 9,699,069 Norwest Bank Texas San Antonio TX N 9,550,917 M&I Marshall and Ilsley Bank Milwaukee WI SM 9,414,827 Commerce Bank Kansas City MO N 9,196,823 First-Citizens Bank & Trust Company Raleigh NC NM 9,037,112 Citibank (Nevada) Las Vegas NV N 9,027,276 Firstar Bank Milwaukee Milwaukee WI N 8,969,377 Webster Bank Waterbury CT SA 8,866,355 Bank One Milwaukee WI NM 8,743,509 SunTrust Bank, Central Florida Orlando FL N 8,719,853 Top 100 Banks In Latin America - Statistical Data Included - IllustrationLatin Trade, Sept, 1999 TOP 100 BANKS IN LATIN AMERICA99 98 INSTITUTION COUNTRY ASSETSRANK RANK1 2 Banco do Brasil Brazil 104,215.72 1 Caixa Economica Federal (CEF) Brazil 94,768.93 4 Bradesco Brazil 40,805.84 5 Banco Itau Brazil 32,170.45 7 Bancomer Mexico 25,427.66 6 Banamex Mexico 25,334.97 8 Unibanco Brazil 22,560.08 3 Banespa Brazil 20,710.79 10 Banco de la Nacion Argentina Argentina 17,091.010 9 Banca Serfin Mexico 16,610.611 11 Banco Real [1] Brazil 13,741.112 16 Banco de la Provincia de Buenos Aires Argentina 13,314.713 14 Banco Santiago Chile 12,676.214 ---- BANRISUL Brazil 12,332.315 12 Banco Safra Brazil 12,157.816 18 Banco de Galicia y Buenos Aires Argentina 11,877.417 17 HSBC Bamerindus Brazil 11,437.818 15 Nossa Caixa Brazil 11,215.019 20 Banco Santander Chile [2] Chile 11,041.020 19 Banco del Estado de Chile Chile 11,024.821 24 Banco Rio de la Plate [2] Argentina 10,801.222 23 Bital Mexico 10,346.323 13 Banco de Credito Nacional Brazil 10,063.024 25 Banco de Chile Chile 9,115.325 40 BBV Banco Frances [3][4] Argentina 8,951.626 32 BankBoston Argentina 8,910.827 35 Citibank Argentina 8,624.128 28 BBV Mexico [4] Mexico 7,807.129 83 Banco Santander Brasil [2] Brazil 7,525.130 33 Banco de Credito e Inversiones Chile 7,348.531 27 Banco Santander Mexicano [2] Mexico 6,960.032 29 Banco Sudameris Brazil 6,947.833 36 Banco BBA Creditanstalt Brazil 6,819.934 51 ABN-Amro Bank Brazil 6,692.735 21 Banco Bozano Simonsen Brazil 6,335.836 34 Banco Mercantil del Norte (Banorte) Mexico 6,190.237 42 Banco Santander Noroeste [2][5] Brazil 6,135.238 ---- BEMGE Brazil 5,836.139 44 Banco BNB Brazil 5,771.940 30 Banco Sud Americano Chile 5,602.541 37 Bladex Panama 5,587.742 38 Banco de Credito Peru 5,414.543 39 Banco de A. Edwards Chile 5,303.844 ---- Banco de la Republica Oriental del Uruguay Uruguay 5,235.745 41 Citibank Brazil 5,149.546 55 Banco Hipotecario Argentina 5,057.747 ---- Banco Bilbao Vizcaya Brasil [4][6] Brazil 5,011.148 47 Finasa Brazil 4,967.449 60 HSBC Banco Roberts Argentina 4,769.350 43 BankBoston Brazil 4,761.499 % CHANGE DEPOSITS % CHANGE LOANS % CHANGERANK 97/98 97/98 97/981 8.8 49,431.1 1.2 43,883.6 -3.72 -5.2 49,529.6 -7.9 65,288.4 0.53 7.6 21,762.8 14.6 18,585.0 -0.34 -0.8 18,922.1 14.8 10,508.6 -6.15 -6.2 19,256.3 0.4 17,988.5 -16.96 -18.6 18,736.9 -13.2 16,263.9 -13.97 2.0 7,540.8 7.6 10,676.7 8.68 -60.0 9,516.5 -29.9 4,379.8 3.99 15.0 11,622.6 20.8 8,795.1 7.410 -7.3 11,637.8 -9.9 12,542.4 -3.611 1.5 5,299.2 -4.5 7,427.1 10.712 13.8 9,261.2 13.2 8,117.6 15.313 4.8 7,932.1 11.4 7,839.8 3.014 15.2 3,333.9 21.5 1,728.9 -22.015 -0.4 2,467.9 -14.9 2,637.6 -7.116 3.4 6,649.4 9.2 6,553.8 19.317 -2.0 5,704.4 -4.3 3,972.2 3.718 -4.4 8,822.7 -8.0 1,622.3 18.419 -1.0 6,303.3 5.3 5,469.0 -1.720 -1.9 8,156.1 -1.0 6,305.8 9.221 20.4 5,013.0 33.6 5,362.3 27.022 12.8 5,724.1 -11.3 7,888.6 16.023 -17.4 3,331.8 -2.6 4,361.8 -1.024 3.2 6,262.6 11.9 5,259.9 1.225 68.6 5,253.4 86.6 4,911.6 87.526 38.0 4,642.4 52.4 5,126.7 43.427 46.5 4,951.6 21.6 4,297.9 36.428 -0.1 5,321.8 -15.6 6,119.5 17.529 250.8 3,202.9 291.8 1,747.4 127.130 14.3 4,361.7 8.1 3,759.0 9.831 -13.2 4,991.8 -11.5 5,426.7 -5.932 -4.9 1,830.4 -19.6 3,492.4 6.833 18.1 1,962.4 12.7 2,559.8 -2.234 69.6 1,654.9 83.1 1,883.4 -19.835 -43.0 876.7 -26.5 1,616.0 3.036 -2.1 4,368.4 10.0 4,658.7 -10.937 23.5 3,707.6 82.1 2,305.6 -22.338 -50.8 1,222.6 -24.7 594.1 -52.139 21.5 1,011.0 -3.5 4,285.8 22.940 -18.3 2,164.9 -12.4 2,123.3 -14.341 -2.8 336.0 9.0 5,119.9 -0.142 -3.3 3,740.7 -2.6 3,019.6 2.543 -0.8 3,693.3 9.6 3,699.4 5.844 9.6 4,161.7 12.7 3,829.3 14.545 2.2 2,243.0 2.6 2,956.9 16.546 34.4 230.7 118.4 3,883.8 23.547 -50.9 2,622.1 -3.7 1,094.0 -59.448 7.2 3,180.2 3.4 1,569.5 -23.649 42.2 2,613.6 23.4 2,524.5 20.750 -3.1 1,551.4 4.1 1,262.9 -22.751 ---- Bancolombia [7] Colombia 4,400.6 -15.8 2,393.652 46 Banco Boavista Brazil 4,346.6 -5.8 2,246.853 54 Banco Bandeirantes Brazil 4,204.8 9.9 2,231.954 49 Banco Provincial [4] Venezuela 4,027.3 -1.7 3,183.755 66 Banco Votorantim Brazil 3,922.0 32.7 1,057.556 58 Banco BHIF [4] Chile 3,596.3 5.9 2,232.657 ---- Banco Hipotecario del Uruguay Uruguay 3,574.7 1.9 2,000.658 76 Inbursa Mexico 3,563.3 46.4 2,213.259 57 BBV Ganadero [4] Colombia 3,460.2 -3.0 2,002.060 52 Banco Wiese Peru 3,396.4 -12.9 2,156.261 75 Banco Cafetero Colombia 3,381.9 36.0 2,184.662 69 Banca Nazionale del Lavoro Argentina 3,356.8 19.9 2,306.663 61 Banco Nacional de Panama Panama 3,347.5 2.9 1,785.164 26 CCF do Brasil Brazil 3,312.7 -60.2 1,149.965 56 Banco Bansud Argentina 3,246.9 -12.5 1,214.166 53 BFB Brazil 3,238.2 -15.7 324.667 62 BANERJ Brazil 3,191.6 -0.7 2,546.768 63 Banco Continental [4] Peru 3,103.6 0.7 2,236.469 77 Banco de la Ciudad de Buenos Aires Argentina 3,075.1 27.1 2,179.670 64 Corpbanca Chile 3,043.7 0.9 1,871.171 59 Bicbanco Brazil 3,013.8 -11.1 819.372 70 Banpais Mexico 2,861.8 3.6 2,729.673 ---- Chase Manhattan Argentina 2,814.5 131.0 249.074 90 Citibank Mexico 2,786.5 44.0 1,700.275 31 Banco Meridional Brazil 2,726.6 -59.2 1,364.576 ---- Banco America do Sul Brazil 2,683.9 -30.4 1,340.577 74 Banco Mercantil Venezuela 2,681.6 1.3 2,084.878 68 Banco de Bogota Colombia 2,654.2 -5.6 1,317.279 80 BankBoston Brazil 2,572.3 8.2 58.880 65 Banco Bice Chile 2,569.2 -14.3 1,410.681 73 Banca del Desarrollo Chile 2,521.9 -7.6 1,843.682 79 Banco Davivienda Colombia 2,494.3 4.8 2,096.983 93 Banco Quilmes Argentina 2,366.9 25.2 1,560.284 87 Banco de Venezuela [2] Venezuela 2,336.3 18.7 1,792.385 ---- Bank of America Argentina 2,314.1 N/A 13.386 82 Chase Manhattan Brazil 2,310.7 -0.7 549.587 94 Banco de la Provincia de Cordoba Argentina 2,210.1 17.9 1,724.788 48 Lloyds Bank Brazil 2,208.0 -47.6 730.689 78 FIAT Brazil 2,167.8 -9.7 1,648.590 71 Banco de la Nacion Peru 2,166.6 -21.2 1,135.191 85 Barclays e Galicia Brazil 2,102.7 -0.7 100.292 89 Banco Credicorp Argentina 2,011.5 3.6 1,386.393 92 Banco Pactual Brazil 1,991.2 4.1 458.994 ---- BBM Brazil 1,959.8 -16.3 288.295 ---- Colpatria Colombia 1,909.0 -12.4 1,352.396 ---- Banco Rural Brazil 1,900.0 37.8 936.797 ---- Banco del Suquia Argentina 1,899.3 17.6 1,098.398 88 Banco Security Chile 1,825.7 -6.5 975.499 99 Banco Santander [2] Colombia 1,823.8 3.1 1,094.6100 ---- BMB Brazil 1,808.9 10.8 965.651 -4.4 2,421.8 -12.952 -10.4 1,880.2 -3.653 4.0 1,835.8 -1.754 -7.1 1,865.3 -10.155 16.3 386.9 -13.156 5.9 2,341.0 0.857 4.6 2,538.1 5.858 132.2 1,882.1 22.159 8.3 2,047.4 -7.160 -13.7 2,160.4 -9.761 61.3 2,346.7 47.762 24.8 2,240.5 19.663 -0.4 1,262.9 2.364 -35.1 1,161.2 -28.865 -16.3 1,948.8 -22.866 -64.7 2,243.6 8.267 5.2 295.1 8.568 0.9 1,773.3 2.869 27.1 1,296.9 21.470 9.2 1,656.7 3.671 -28.1 920.5 -27.672 52.9 1,981.0 -20.673 -23.4 69.8 -38.274 26.7 2,092.5 56.875 -6.6 835.0 -19.576 -38.2 1,369.7 -39.577 -2.7 1,528.3 -15.678 -7.8 1,598.8 0.779 45.5 1,099.8 -36.780 14.0 970.0 0.481 2.6 1,891.3 3.982 4.4 1,975.7 11.483 21.0 1,420.0 33.184 18.9 989.8 16.085 -17.2 342.9 12.986 -55.4 822.0 87.487 26.8 739.8 -6.388 -13.1 731.3 -21.489 -13.2 845.5 -39.390 14.3 1,176.0 29.891 -19.5 567.6 -2.092 7.0 1,168.2 7.193 -16.9 286.1 -22.194 -37.6 189.8 -25.695 -21.7 1,500.4 -13.196 14.3 868.2 -0.597 -0.2 1,074.7 12.998 14.9 981.5 5.799 1.7 331.8 -70.0100 12.0 743.5 -8.7NOTES: (1.)Controlled by ABN Amro Bank. (2.)Controlled by BSCH. (3.)Mergerbetween Banco de Credito Argentino and Banco Frances del Rio de la Plata.(4.)Controlled by BBV. (5.)Former Banco Noroeste.(6.)Former Banco Excel Economico. (7.)Merger between Banco IndustrialColombiano and Banco de Colombia.Sources: Austin Asis, Salomon Smith Barney, Banking authorities ofArgentina, Colombia. Chile, Panama, Mexico, Uruguay, LATIN TRADE.3I GROUP PLC Great Britain Diversified Financials - UK ABB AG Switzerland Electrical Equipment ABN Amro Holding Netherlands Banks - Europe Adidas Salomon AG Germany Textiles & Apparel AGILENT United States Electronic Equipment & Instruments Alcan Inc. Canada Metals & Mining ALCOA INC United States Metals & Mining Alumina Limited Australia Metals & Mining ARCELOR France Steel AT & T Corp. United States Telecommunications Aviva Great Britain Insurance - UK & Ireland BAA PLC Great Britain Surface Transport Bank of America United States Banks - N. America Baxter United States Health Care Equipment & Supplies BP PLC Great Britain Integrated Oil & Gas Bristol-Myers Squibb Co. United States Pharmaceuticals BRITISH AIRWAYS PLC Great Britain Airlines British Land Co PLC Great Britain Real Estate BT Group PLC Great Britain Telecommunications CADBURY SCHWEPPES Great Britain Food Products Cairn Energy PLC Great Britain Oil & Gas Exploration & Production CENTRICA PLC Great Britain Gas Utilities Danone France Food Products DAVID S. SMITH HOLDINGS PLC Great Britain Containers & Packaging DENSO Japan Auto Components Deutsche Telekom Germany Telecommunications DEXIA Belgium Banks - Europe Diageo Great Britain Beverages & Tobacco Eastman Kodak Co. United States Leisure Equipment & Products Ecolab Inc United States Specialty Chemicals Electrolux AB Sweden Household Durables ENBRIDGE INC. Canada Gas Utilities Ericsson Sweden Communications Equipment Expro International Group Great Britain Energy Equipment & Services FoereningsSparbanken AB Sweden Banks - Europe FPL Group Inc United States Electric Power Companies FRESENIUS MEDICAL CARE AG Germany Health Care Providers & Services Gamesa Corporacion Tecnologica SA Spain Industrial Machinery GLAXOSMITHKLINE PLC Great Britain Pharmaceuticals GUS PLC Great Britain Multiline Retail Hays PLC Great Britain Commercial Services & Supplies HBOS PLC Great Britain Banks - UK & Ireland Heidelberger Druckmaschinen Germany Industrial Machinery Henkel Germany Household & Personal Products Hennes & Mauritz Sweden Specialty Retail HEWLETT-PACKARD COMPANY United States Computers & Peripherals HYPOVEREINSBANK Germany Banks - Europe Indra Sistemas Spain IT Consulting & Services ING Group Netherlands Diversified Financials - Europe Intel Corp United States Semiconductors J SAINSBURY PLC Great Britain Food & Drug Retailing KESKO Finland Food & Drug Retailing KINGFISHER PLC Great Britain Specialty Retail Kuraray Company Limited Japan Commodity Chemicals LAFARGE SA France Construction Materials Land Securities PLC Great Britain Real Estate MANULIFE FINANCIAL CORP Canada Insurance - N. America MARKS & SPENCER PLC Great Britain Multiline Retail MARRIOTT INTL INC NEW United States Hotels Restaurants & Leisure Nokia Oyg Finland Communications Equipment Nokian Renkaat Finland Auto Components Novo Nordisk Denmark Pharmaceuticals NTT Docomo Inc Japan Telecommunications Pearson PLC Great Britain Publishing Peninsular & Oriental Steam Navigation Great Britain Surface Transport PEPSICO INC United States Beverages & Tobacco Philips Elec Netherlands Household Durables Pilkington PLC Great Britain Building Products PINNACLE WEST CAP CORP United States Electric Power Companies Pitney Bowes United States Commercial Services & Supplies Reed Elsevier PLC Netherlands Publishing RICOH COMPANY, LTD. Japan Electronic Equipment & Instruments ROYAL BANK OF CANADA Canada Banks - N. America Royal Dutch Petroleum Netherlands Integrated Oil & Gas Sabmiller Great Britain Beverages & Tobacco SAP AG Germany Software SCHLUMBERGER LIMITED United States Energy Equipment & Services Scottish & Southern Energy Plc Great Britain Electric Utilities - Intl SEVERN TRENT PLC Great Britain Public Services Siemens AG Germany Industrial Conglomerates Skanska Sweden Construction & Engineering Slough Estates PLC Great Britain Real Estate Smith Nephew Great Britain Health Care Equipment & Supplies STMicroelectronics Switzerland Semiconductors SUN LIFE FINANCIAL SVCS Canada Insurance - N. America Svenska Cellulosa AB Sweden Paper & Forest Products Swiss Reinsurance Company Switzerland Insurance - Europe Taylor Woodrow PLC Great Britain Homebuilding TOMRA SYSTEMS ASA Norway Industrial Machinery Toyota Motor Japan Automobiles TransAlta Utilities Canada Electric Utilities - Intl Unilever Great Britain Food Products UNITED PARCEL SERVICE INC United States Air Freight & Couriers United Technologies Corp United States Aerospace & Defense VESTAS WIND SYSTEMS A/S Denmark Electrical Equipment Volkswagen Group Germany Automobiles VOLVO Sweden Construction & Farm Machinery Weyerhaeuser Co United States Paper & Forest Products Whitbread PLC Great Britain Hotels Restaurants & Leisure Xerox Corp United States Electronic Equipment & Instruments If you have a concern or an idea about how these companies can improve, please send an e-mail to ideas@global100.org, and we will do three things: Post a link to your suggestion on the company’s profile page on this web site (profiles will become available in March). Forward the suggestion to Innovest to facilitate the feedback loop that is part of their research process. Forward the suggestion to an executive at the company in question, asking for a response. Note: We also encourage people to take their concerns/suggestions direct to the company. Contact information including e-mail address(es) and the name of the CEO of each company will be available on each company’s profile page, which you can view by clicking on the name of the company in which you are interested.Back to top Back to home page xhtml css 12/09/06 Interpay extends reach to 25 EU countries06/06/06 IT vendors push for more Sepa consultation06/06/06 JPMorgan Chase calls for top banks to take lead role in Sepa debate02/06/06 Visa on course for Sepa compliance26/05/06 Sepa debate to take centre stage at EBAday payments show18/05/06 Banksys cans BC/MC national payments system in favour of Maestro03/05/06 European Central Bank warns on Sepa timetable19/04/06 ACI Worldwide launches wholesale payments processing engine for Sepa24/03/06 Eufiserv restructures for Sepa22/03/06 Voca hires ECB Sepa expert Erik Månsson17/02/06 Euro central banks firm up Sepa objectives15/02/06 Sepa paper draws furious response from banking lobby group15/02/06 Interpay and Transaktionsinstitut to merge10/02/06 European Commission slams banks on slow pace of Sepa reforms09/02/06 MasterCard prepares for cash free future; outlines Sepa pricing13/10/05 European businesses failing to influence Sepa debate11/10/05 Voca overhauls payments infrastructure in preparation for Sepa07/10/05 Banks braced for Sepa challenge14/09/05 National payments schemes propose European IP network08/09/05 EBA details Sepa vision05/09/05 Sepa to lop EUR29bn off payments revenue23/05/05 EU banks face $10 billion Sepa billResource 3 Bombardier (Shorts) 4 Quinn Group 5 Moy Park 6 Royal Mail (NI) 7 Translink 8 Four Seasons 9 Dunnes Stores 10 BT FG Wilson 12 ASDA (NI) 13 Sainsbury's (NI) 14 Seagate Technology 15 Ulster Bank 16 Ballyvesey Holdings 17 HBOS 18 Northern Bank 19 Henderson Group 20 Dunbia Marks & Spencer 22 First Trust Bank 23 Rotary Group 24 Viridian 25 Northbrook Technology 26 Golf Holdings 27 Bank Of Ireland 28 Alliance Boots 29 Abbey National 30 Lagan Group Fane Valley Co-op 32 O'Kane Poultry 33 Charles Hurst 34 Michelin 35 Compass Group 36 Norbrook Group 37 B&Q 38 Hilton Food Group 39 Almac 40 Kerry Group Gallaher 42 UTV 43 Northstone 44 Wrightbus 45 Hastings Hotels Group 46 Nacco Materials Handling 47 United Dairy Farmers 48 NI Co-Op 49 Glen Electric (NI) 50 Herbel Restaurantsposted by parichay perikal j at 8:54 PM 0 Comments banks-financeAmerican Agents Insurance CompanyAmerican Bankers InsuranceAmerican Banker Insurance CompaniesAmerican Bankers Insurance Group - Assurant GroupAmerican Benefit Consultants InsuranceAmerican Chambers Life InsuranceAmerican Contractors Insurance GroupAmerican Equity InsuranceAmerican Express Financial Express - IDAllstate Insurance Companyhas everything you need to do insurance business online for auto, family, home, around the corner, or around the world.Amica Insurance Company - Offers instant home, term life, and auto insurance quotes. Coverages include car, whole life, flood, and boat insuranceHere's a GREAT resource site for auto insurance tips, based in Ontario, but the advice is good throughout America.The Arrowhead GroupThe Co-operators - A Canadian-owned, multi-line insurance company that provides home, auto, life, farm, business, and group insurance. Also offers financial security products, including RRSPs. Find an agent or request a quote.This is NOT legal advice but it is a fact: In most courts of law, you cannot prove you have been forced off the road unless some physical contact with the offending vehicle has occurred. I know it is just human nature to dodge the other vehicle at all costs, just remember that YOU are probably responsible for all damages done to your vehicle and anything that it strikes unless some physical contact with the offending vehicle has occurred. I urge you to check the laws in YOUR state, today!Drag DownThe High Cost of InsuranceLet us help you catch all the insurance protection you need for the money you are spending. Compare what you have to pay now with the family-friendly values we find. See if the savings don't average 46% better than what you expect on ALL Your Insurance Needs for:Quote Type: Select an insurance typeAuto InsuranceHome FinanceHealth InsuranceHome InsuranceLife InsuranceMotorcycle InsuranceAuto FinanceSmall Business InsuranceLoan Type PurchaseRefinanceHome EquityMobile Home/Manufactured HousingOtherZipcode:Car Safety TipsIf your car has remote keyless entry and you lock your keys inside the car you can call a significant other with a duplicate key. Hold your cell phone close to the car door then ask the person with the duplicate key to press the unlock button while holding it close their cell phone. Sweet music will greet your ear as your car unlocks. This will work even if you are in Europe and the other cell phone is in South America. Even if you are only blocks apart this will still save the time it normally takes to drive the key to you.Don’t just keep paying your car insurance invoice when it comes in. For example, many people needlessly carry full coverage on their old car. They originally purchased the vehicle new, paid for full coverage and to this day, continue to pay the same high rate. Once a vehicle gets old it doesn't matter how much coverage you pay for or even how much your vehicle is really worth you will only be paid a specific (lowball) figure if an accident ever happens. Your annual insurance bill should be an automatic trigger for you to make a few phone calls to see if you can save even more money on your car insurance premiums.Here's another tip.. Let your fingers do the walking… Shop around -- and do it at least yearly. Here are a few suggestions to help you get the best deal available on your car insurance policy.Auto Insurance agents really have a lot of leeway when it comes to premium quotes. They can price match and they can offer you many discounts IF THEY WANT TO. There are also many decisions you can make about your policy that will save you a bundle. For example, if you change your deductible on your collision from a $50 deductible to a $1000 deductible, you’re in line for a huge premium savings. If you don’t think you could come up with $1000 out of pocket, then change it to a $500 deductible; you’ll still save a sizable amount on your annual premium payment. You can also get more savings if you change your comprehensive deductible. Let's say your ten year old vehicle may be worth $1000 or less. If you continue to pay $250-$450 every six months (total $500 to $900 dollars a year) too keep full coverage on their old vehicle you are driving yourself into the poor house. If you have an accident and totaled their vehicle, the insurance company will only pay you the actual wholesale value of the vehicle. In other words, you'll be very lucky to receive $1000 and it will probably be -- less.Another method to save more on your insurance is by combining your vehicles and other insurance together to get you additional savings. All insurance companies offer a multi-car discount (if yours doesn’t, it’s time to switch companies). Further, many will discount more if you have your homeowners or renters policy with them. There are a few other discounts that you may not be taking advantage of. It seems obvious, but make sure you are getting the correct rate for your age. There are discounts for various ages than can save you lots of money. Check with your agent on this one. Also alarm systems on your vehicle are usually good for a discount. Additionally, anti-lock brakes and air bags can also help lower your premiums.Dairyland Insurance - Offers nonstandard auto and preferred motorcycle insurance products. Farmers Insurance Group of Companies -Rates are rising for teenaged girl drivers. My sources say it's because so many of them have cell phones and can't quit using them. What are they squealing about? Boys.Geico DirectGreat American Auto InsuranceGuideOne InsuranceThe Hartford Financial Services Group welcomes the opportunity to serve your vehicle insurance needs! It's easy to get a quote online, by telephone and from an agent close to you.MBA Insurance - RV insurance needs since 1978Mendota Insurance CompanyThe Motorists Mutual-American Hardware Insurance GroupInsurance Strategies is a full service transportation insurance agency specializing in transportation insurance, including Trucks, Semi Trucks, Trailers, Buses, Mexican Buses, Medical Transport, Rental Car, Taxi, Shuttle*Get the latest Insurance News Hot From the DePotand Great Health News you can really use!Avoid the Speed Traps, in your area.SAre you worried, or even frightened because you can't be insured? Check out the best health programs available. Our Patient Advocacy Team can help you through some tough situations.American Family InsuranceAmerican Family Life Assurance 3700 Crestwood Pkwy NW. Duluth, GA 30096-5599 Phone: (770)935-9330American Farm Bureau Insurance Services Inc.American Fidelity Assurance is your financial security solution for annuities, disability, cancer, and life insurance. Phone: (800) 654-8489American Fidelity Life Insurance Company: 4060 Barrancas Ave., Pensacola FL 32507-3467 Phone: (850) 456-7401American Financial GroupAmerican Franklin Life Also known to customers as Franklin Life.American General Annuity has a web site designed to help you learn more about annuities so you can make intelligent decisions.American General CorporationAmerican General Life & AccidentAmerican General Life and Accident Insurance CompanyAMERICAN GLOBAL INSURANCE COMPANYAmerican Guaranty and TrustAmerican American Income Life Insurance Co With over $15 billion of life insurance in force, American Income is nationally recognized as one of the significant carriers of supplemental insurance in North America. Headquartered in Waco, Texas, American Income is licensed in 49 states, the District of Columbia, Canada, and New Zealand.American Insurance Services GroupAmerican Insurance AssociationAmerican Insurance of the Treasure CoastAmerican International Pacific InsuranceAMERICAN INTERNATIONAL SPECIALTY LINES INSURANCE COMPANYAmerican Life Insurance of New YorkAmerican Medical SecurityAmerican Mexican Insurance Service Inc.American National Insurance CompanyAmerican National and its subsidiaries are a multiple-line Insurance Company.American Public Life whether you are a broker, agent, employer or employee, we want to assist in helping to meet life's challenges. We want to serve your needs. On this site you will find information on our medical supplement plans, disability, cancer, dental and life insurance.American Psychological Association Insurance TrustAmerican Re-Insurance CompanyAmerican Republic Insurance CompanyAmerican Risk and Insurance AssociationAmerican Skandia LifeAmerican Specialty HealthAmerican United Life Insurance CompanyAmerican Western LifeGreat American Life Insurance Co.Great American Insurance CoGeneral American Life "While visiting our site you'll learn about us and our broad range of life insurance, health insurance, annuity, investments, and pension and profit sharing plans. We serve individuals, groups, and businesses with a comprehensive portfolio of financial products and services. We invite you to find out more about how we deliver on our promise of "Products to value, people to trust."Great American InsuranceISU North American Insurance AgencyLoyal American FamilyMexican Insurance from American Mexican Insurance ServicesMutual of AmericaOld American Insurance Company: 3520 Broadway KANSAS CITY MO 64111 Phone: (816) 753 4900 The company was founded in 1939. For almost 60 years, its mission has been to provide peace of mind to the senior market and, in turn, enhance the quality of life for both the policyholders and their beneficiaries. Old American has more than one billion dollars of life insurance in force. It operates in 45 states and the District of Columbia and currently has more than 300,000 policyholders. The parent company is Kansas City Life Insurance Company.Phoenix American Insurance GroupSDG All American Insurance AgencyVan-American Insurance CompanyHeritage Life InsuranChartered Health Plan stresses quality medical care by providing our members with a choice of health care providers, health education, and staff dedicated to service excellence. Chartered Health Plan is committed to developing health care resources, which will assist minorities in the District of Columbia to maintain their health and to become totally healthy individuals. The ultimate goal is to strengthen educational and economical development by helping to bridge the digital divide for our community.Chubb/Life America, Warren, NJ -- Personal Insurance -- How fragile is your dream? How solid is your coverage? Insure with Chubb and receive coverage and service solutions designed for people who expect more.CIGNA Health Plan, Philadelphia, PAColumbia CasualtyCommercial Travelers is one of America's oldest and most respected accident and health insurance companies - privileged to serve policyholders coast to coast with a wide range of products.Compcare Health ServicesContinental General Insurance CompanyCombined Benefits Insurance CompanyCombined Insurance Company of AmericaCombined Life Insurance Company of New York - Latham, NYCommercial Insurance Company of Newark, NJ - New York, NYce CoConnecticut General InsuranceConseco has 13 million customers.Continental Assurance CompanyContinental Casualty CompanyContinental General Insurance CompanyContinental Insurance Company of New Jersey Continental Insurance Company of Puerto Rico Continental Insurance Company, The Continental Lloyd's Company Continental Reinsurance CorporationCoreStar a subsidiary of TrustMark Trustmark offers health and life insurance and benefits administration services to employer groups, primarily through five separate operating divisions:Cost Care, Inc.Country Insurance & Financial Services - A full range of insurance and financial planning services. News and information about the company, available policies and services, agent search, a game zone for teaching kids about safety.Manhattan National Life Insurance Company, TheMayflower Insurance Company, Ltd., TheM-Care With networks that include thousands of doctors and many leading hospitals, M-CARE has been serving Southeastern Michigan for years. We offer a variety of health care products, including HMO, Open Access, M-CARE PPO, HSA, and Medicaid plans.Mercy Health Plans Healing in the broadest sense. These powerful words encapsulate the Mercy Health System mission and our organization's commitment to our patients and community members. Healing in the broadest sense is what our 3,856 employees, who we call partners, strive for each and every day.MMA Insurance Company Whether you’re an individual, business, or church, MMA offers a variety of health, life, and other specialty insurance products to fit your unique needs.Modern Woodmen of America As a fraternal benefit society, Modern Woodmen provides benefits for members, their families and their communities.Monumental Life Insurance CompanyMutual Of Omaha is found here. At Mutual of Omaha, we have worked hard to become one of the largest providers of individual health and accident insurance in America, one of the largest group carriers and one of the nation’s largest administrators of Medicare Part A claims. But we point with greatest pride to our 90 years of outstanding service to our policyowners. Our commitment to customer service is second to none – it is the core of our vision and values for success.Mutual of Omaha Health Plans, Inc.MVP Healthplan offers a wide range of health benefit products including a preferred provider organization (PPO), an exclusive provider organization (EPO), indemnity health insurance products, the MVP HMO (MVP Health Plan, Inc.) and administrative services for employers who choose to self-insure. MVP will enter the Medicare market in 2007.Click HERE if you are pregnant and have NO insurance.A Directory of the Best Health Insurance Companiesstarting with the letter "N"N SectionNational Fire Insurance Company of HartfordNational Preferred Providers Network As one of the largest and fastest growing Preferred Provider Organizations, we are always looking for ways to serve you better.Nationwide-Health Choosing proper health care management tools is an important decision for all of us. Making smart decisions today can help ensure we'll be living a healthier lifestyle tomorrow. Nationwide Better HealthSM offers a wide variety of products, services and benefit options to suit all of your health care needs. We're here to assist you every step of the way.New York Life Insurance Company Why Choose Us? Well, for three simple reasons: our award-winning professionally-trained agents, our top-flight customer service, and the highest ratings for financial strength.Niagara Fire Insurance CompanyNorth American Company for Life and HealthNorthern Arizona Healthcare is the parent corporation of Flagstaff Medical Center, Verde Valley Medical Center, VVMC-Sedona Campus and Northern Arizona Homecare. NAH is dedicated to improving the health of the people and communities we serve in Northern and Central Arizona.A Directory of the Best Health Insurance Companiesstarting with the letter "O"O SectionODS Health PlansOmnicare Health PlanOptumOxford Health Plans, Darien, CTOxford Life Insurance Company of Phoenix, Arizona specializes in providing innovative and consumer-friendly life, annuity and health insurance.beneficiaries a variety of consumer-driven health care and insurance products.Pacific Insurance CompanyPacificSource Health PlanPekin Insurance Life and HealthPersonal California Care The HMO for Families and IndividualsPhysicians Mutual Insurance Co Established in 1902, originally to protect doctors and dentists, we now protect Americans in all professions and from all walks of life.Pioneer Life Insurance CompanyAARP Life InsuranceAcacia Life Insurance Company life, annuities, mutual funds, investments, financial planning.Advance sells group insurance for dental, disability, term life, accidental death & dismemberment, and dependent life in 38 U.S. statesAEGON is an international pension, insurance, and financial services organization and ranks as one of the largest insurance/financial services groups in the world. Member companies site can be found here,Aetna Life & AnnuityAetna Life & CasualtyAetna Life Insurance and Annuity CoAFLAC -- American Family Life insuring over 40,000,000 people, worldwide. American consumers expect their major medical plans to be a remedy for all medical and related expenses if they suffer an accident or illness. Many find out the hard way that most major medical plans are designed to pay doctor and hospital bills — not all the uncovered and incidental expenses created by treatment and potential changes in standard of living.Get the latest Insurance News Hot From the DePotand Great Health News you can really use!Aid Association for LutheransAIG LifeAllianz Life Insurance Co of AmericaAllmerica FinancialAllstate CanadaAllstate InsuranceAmalgamated Life Insurance CoAmeritas Life Insurance CompanyAmeritas Variable Life Insurance CoAmerUs LifeAmica - Mutual insurance companyAnthem Life Insurance CompanyAssurity Life Insurance CompanyEveryday Mysteries, Fun-filled Facts from the Library of Congress. From Armadillos to Zebras, from why does slicing an onion make you cry to Who invented the telephone, this short and saucy little book is one of the best written books I've seen in a long time. Please be sure to RIGHT CLICK on the link as this book is in pdf format so that every computer can read it.AmeriBest Life Insurance CompanyRemember, I have listed those companies with AMERICAN in their name on ONE page.Find the most competitive Life Insurance rates available.Atlas Life Insurance Company: is unique in the sense that if they handle your personal insurance or business insurance they know what your financial risks are and can help you to identify how the loss of financial income can affect the protection of your assets. 5062 BRITTONFIELD PRKWY; EAST SYRACUSE NY 13057 Phone: (315) 431-6100 -- Phone: (800) 443-4000 62 MAPLE AVENUE KEENE, NH 03431 Contact Agent Pat Doughtery for the best service.Aurora National Life Insurance CoAUSA Life Insurance Company, Inc. 4 MANHATTANVILLE RD PURCHASE NY 10577 Phone: (914) 697-8000 Part of AEGON.B SectionBanker's Life and Casualty: 222 Merchandise Mart Plz Fl 5 Chicago, IL 60654 (312) 396-6000 Part of Conseco.Bankers National LifeBanner Life Insurance CoBankers Life Insurance Company of New York Our combination of innovation, financial strength, and excellent service has helped position Bankers Life as a premiere insurance carrier in our community.Banker's United Life AssuranceBaptist Life AssociationBeneficial Standard Life Insurance CoBerkshire Life Insurance CoBoston Mutual Life Insurance CoC SectionCanada Life Assurance CoCatholic Family Life Insurance CoCatholic Life Insurance UnionCentral Reserve LifeCigna Individual FinancialClaricaColonial Life and Accident 21000 Frontage Rd Belgrade, MT 59714-8547 Phone: (406) 388-5608 There are over 200 offices for this companyColonial Life Insurance Co of TexasColonial Penn Life "We believe in making insurance simple to understand and simple to buy. We specialize in offering affordable coverage directly to you. This site makes it easy to get the information you need and the protection you want."Columbia Universal LifeColumbus Life Insurance Co has consistently grown and prospered for more than 90 years. Today, we have more than 1,500 agents marketing our insurance products and services, supported by a diverse and talented home office team of insurance professionals.Commonweatlth InsuranceConnecticut General InsuranceConseco has $93.6 billion in total managed assets.In addition to our home, auto and life policies, Cotton States also offers a number of specialty coverages, including renters insurance, health coverage, mortgage protection, disability insurance, dental plans, guaranteed issue life plans, mobile home insurance and many other specialty insurance products to meet your insurance needs.Country Insurance & Financial Services, formerly known as Country Companies, has changed their name and website address. The new address is: www.countryfinancial.comCOVA Financial Services Life Ins CoCoverna Direct: Term Life insurance offering ease, comfort, savings...online quotes.Cuna Mutual Life Insurance Co* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *D Section**Leave A Million Dollar Legacy: Be Your Own Banker! Money you are already spending can provide a stable income over your whole lifetime, and still leave millions of dollars for your heirs.E SectionThe Empire Life Insurance Company was incorporated on January 11, 1923. Empire has grown considerably since its founding, and today we are among the top 15 life insurance companies in Canada. We have never sold insurance in the U.S. We are proud of our heritage and our reputation for providing Canadians with sound investment opportunities, financial solutions and income security. Phone us at 1-800-561-1268Employers Modern LifeEpic Life Insurance CompanyThe Equitable CompanyEquitable Life Insurance Company of IowaErie Family LifeF SectionFarm Bureau is the one company I run into most in farming country. I've had my home insured by them and found the cost lower and the service better than any other company I've investigated.Farmers & Traders LifeFederated Life Insurance Company: We are here to offer risk management and loss prevention services to help you avoid accidents. We are here to help you recover when catastrophes strike. We are here to help you plan for the future of your business.FIC providing financial security for a lifetimeFidelity & Guaranty LifeFidelity Investments Life Insurance CoFidelity Security Life was founded out of responsiveness to the need for customized insurance products for niche markets. Over 30 years later, we take pride in being able to say we still do not have shelf products; each plan is tailored to the customer's needs.Financial Benefit Life Insurance Co believes in continually enhancing its annuity products based on market conditions.First Colony Life Insurance CompanyFirst Fortis Life Insurance CompanyJust how healthy are you? It would probably help to find out BEFORE you fill out the forms. I have created a PRE-INTERVIEW FORM strictly for your own information so you'll know what might be coming at you.First In Life.First Penn-Pacific LifeFirst UnumFirst Variable Life Insurance CoForethought Life Insurance Company offers funeral planning.Fort Dearborn Life Insurance Company Blue Cross/Blue Shield of IllinoisFortis Financial Company Formerly Life of Virginia. Main Phone Number: 1-800-800-2000 This is now part of The Hartford Group.Franklin Life for mail or phone contact, use Franklin Life Insurance Company: #1 Franklin Square Springfield, IL 62713-0001 Toll Free 800-528-2011G SectionGarden State Life We sell small face amount life insurance policies direct to the consumer without a medical exam. One of our main goals is to provide life insurance protection to people with smaller life insurance needs that often get overlooked by the larger companies.GE Life & AnnuityGerber Life Insurance CompanyGleaner Life Insurance Society has been a friend of the family since 1894. At Gleaner, we guarantee... "Every morning when you wake up, you're worth more than you were the night before."Globe Life And Accident Insurance CompanyGolden American Life Insurance CompanyGolden State Mutual Life InsGrange Mutual Life Insurance CoGreat American Life Insurance Co We are part of American Financial Group, Inc. (AFG), a larger family of companies with more than 130 years of experience. (Great American Insurance Company dates back to 1872.) AFG subsidiaries market property and casualty insurance. To learn more about property and casualty operations, visit Great American Insurance Group. Our Subsidiaries are: Great American Life Insurance Company® Annuity Investors Life Insurance Company® United Teacher Associates Insurance Company Loyal American Life Insurance Company®Greater Beneficial UnionGreat Southern LifeGreat Western Insurance Company located in Ogden, Utah, provides funding for pre-arranged funeral planning. Funeral pre-arrangements allow individuals the opportunity to plan their own funeral, including the selection of merchandise and services, and pay in advance. In many cases, funeral homes provide a guarantee so that the family never pays more for the funeral at the time of death.Great West Life Assurance CoGreat-West Life & AnnuityGuarantee Life Insurance CoGuarantee Trust Life Insurance CoGuardian Life Insurance Company From our day-to-day dealings with our clients, to our involvement in our hometown communities, Guardian strives to enrich the lives of the people we touch. "Let's first of all recognize something very fundamental about Guardian: We are a mutual company. A mutual company is owned by its policy owners. We work for the benefit of the policy owners."Amica - Mutual insurance company.The Amwest Surety Insurance Company is in Liquidation. Amwest is determined to assist the Insured, Agents, Principals, Obligees and other Claimants of Amwest Surety Insurance Company with information about the Amwest liquidation process.The Citadel Assurance Company of CanadaCongregational & General Insurance - UK insurance company providing church, home, commercial, and charity insurance.Cotton States offers home insurance in 10 southeastern states.Erie Insurance Group for Homes.Farm Bureau is the one company I run into most in farming country. I've had my home insured by them and found the cost lower and the service better than any other company I've investigated.Farmers Insurance Group of CompaniesMadison Mutual Insurance CompanyMetropolitan Life Insurance CompanyMobile Home Insurance Foremost has insured mobile homes about as long as mobile homes have existed in this country. We insure more than 1 million mobile homes...Sentry InsuranceSouthern United offers a non-standard auto insurance program with NO credit scoring.USAA Worldwide InsuranceAuto insurance carriers with web sites are listed on this page for free.Westfield Insurance CompanyWestfield National Insurance CompanyZurichSwitzerland108.122GenevaSwitzerland108.0=33VancouverCanada107.7=34ViennaAustria107.7=55AucklandNew Zealand107.3=56DüsseldorfGermany107.377FrankfurtGermany107.188MunichGermany106.9=99BernSwitzerland106.5=99SydneyAustralia106.51111CopenhagenDenmark106.21212WellingtonNew Zealand105.81313AmsterdamNetherlands105.71414BrusselsBelgium105.61515TorontoCanada105.41616BerlinGermany105.21717MelbourneAustralia105.0=1818LuxembourgLuxembourg104.8=1821OttawaCanada104.82020StockholmSweden104.72121PerthAustralia104.52222MontrealCanada104.32323NürnbergGermany104.2=2425CalgaryCanada103.6=2425HamburgGermany103.62631OsloNorway103.5=2724DublinIreland103.3=2727HonoluluUSA103.32928San FranciscoUSA103.2=3029AdelaideAustralia103.1=3029HelsinkiFinland103.13231BrisbaneAustralia102.83333ParisFrance102.73434SingaporeSingapore102.53535TokyoJapan102.3=3637LyonFrance101.9=3636BostonUSA101.93837YokohamaJapan101.73939LondonUK101.24040KobeJapan101.04144BarcelonaSpain100.6=4245MadridSpain100.5=4251OsakaJapan100.5=4441Washington DCUSA100.4=4441ChicagoUSA100.44643PortlandUSA100.34753LisbonPortugal100.14846New York CityUSA100.0=4951MilanItaly99.9=4947SeattleUSA991London77.792New York73.803Tokyo68.094Chicago67.195Hong Kong62.326Singapore61.957Frankfurt61.348Paris61.199Seoul60.7010Los Angeles59.0511Amsterdam57.3012Toronto57.1113Boston56.4714Sydney56.2615Copenhagen56.1416Madrid56.0617Stockholm54.5118San Francisco54.3619Zurich54.3320Atlanta54.1921Miami53.7622Houston52.9623Washington D.C.52.6824Berlin52.2425Milan52.2326Munich51.8527Montreal51.3528Vancouver51.1029Brussels51.0530Vienna50.9431Dublin50.7232Shanghai50.3333Barcelona50.1534Melbourne48.8935Geneva48.0536Bangkok47.9637Dubai46.6138Kuala Lumpur45.8239Santiago44.5640Budapest43.7541Prague43.5542Mexico City43.3543Rome43.1844Tel Aviv43.0045Mumbai42.7046Beijing41.9447Johannesburg41.3748Sao

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