Bank of America Corp Essay

strand of the States Corporation supplies banking and non-banking financial services and products to individual customers and small and medium enterprises (SMEs) in the form of retail banking, larger corporations and government of the United States and even to ball-shaped arena. The bank generates the savings accounts, capital marketplace savings accounts, checking accounts from the deposits segment. The world-wide fluff services segment allows the US consumers with business card, consumer lending and international calculate card services.The Home Loans and Insurance segment offers it consumers with products and services related to hearty commonwealth such as mortgage and home legality brings. The spheric banking segment gives mercenary loans, leasing, short-term loans, capital management and treasury solutions. The orbicular Markets solution provides advisory services, custody services and securities clearing. The banks spherical Wealth and Investment Management seg ment caters to estate management, brokerage services, reference work and banking expertise.The profit margin for the bank was 7. 05 per centum in the past stratum. Bank of America has a $1. 5 trillion goal for comm unity training lending focusing on affordable housing, SMEs, consumer funding and economic emergence in general. worldwide Consumer and Small Business Banking is the largest segment of the bank and foc uptakes by and large on credit card issuance and consumer banking. This division has over 6200 retail branches and over 18700 ATMs over the US.The bank is alike a member of Global ATM alliance- initiative taken by many banks to that enable the customers to use the ATM or check card with no fees. The organization also supplies its employees to buy hybrid vehicles and has an eco-friendly tower in Manhattan and even gives mortgage loan breaks to consumers whose homes pass as being energy efficient. The bank has even donated coin for the health centers in Massachusetts and to the homeless shelters in Miami. JP Morgan Chase and troupe JP Morgan Chase provides a variety of financial services across the globe. in that respect is the Investment bank segment for corporate strategy and structure, capital elevation in equity and debt markets, risk management and provides the financial institutions, governments and corporations with institutional investors. on that point is Commercial banking segment that does lending, treasury services, cash management, trade and whole sales event cards to SMEs and multinational companies. The Asset management segment provides wealth and investment management services to institutions as well as retail investors.Global investment management in equities, real estate, hedge funds, fixed income, gold market instruments and banking deposits are also offered by the bank. The company has Retail financing services segment that caters to retail banking for the consumer through checking and savings accounts, mortgages, home equity and business loans and online banking and telephone banking. The Card Services segment provides the credit cards and keeps track of the credit payments processes. The profit margin for the latest fiscal year has been 19. 52 percent. Its consumer functions involve more than 3000 branches, 8500 ATMs and 270 mortgage offices.JP Morgan and Chase fared well compared to its peer in the credit crunch of 2007 and even though investment banking unit suffered and the bank even increased its loan reserves losses by $4. 3 billion. And even then the net income of the bank was 25 percent due to the growth in strong earnings of the banks credit card and commercial banking units. After the survival of the bank in such a tough scenario it has proven the effectiveness with which it has been offering the various(a) array of financial services businesses. Citigroup and Inc The company has two distinct segments Citicorp and Citi Holdings.Citicorp is the global bank for the businesses plus the c onsumers and is divided into two main businesses namely regional consumer banking and institutional clients group. The regional consumer banking provides the conventional services of retail banking, cards and commercial banking on small-scale in North America, Latin America, Europe, Asia, the Middle East, and Africa. cater to the securities and banking services such as investment banking, advisory services, lending, debt and equity sales, exotic exchange, institutional brokerage and treasury and trade solutions is the institutional clients group.Whereas the segment Citi Holdings has trio businesses to look at brokerage and asset management, local consumer lending and peculiar(prenominal) asset pool. The brokerage and asset management division in a joint venture with Morgan and Stanley and provides retail brokerage and asset management services. The local consumer lending provides mortgage loans, personal loans, student loans, commercial real estate loans and even western Europe an card. The special asset pool is a portfolio of securities, loans and other assets. The profit margin for the latest year has been negative 0. 84 percent.Citigroup is the sixteenth largest political campaign donator in the US according to concentre for Responsive politics. Citigroup even obtained naming rights as Citi Field to the home car park of the New Major League Baseball team in 2009. pass After research of the three banks, Citigroup has been the one to be involved in many scandals ranging from financing Enron and alleged money laundering facilitation and even conducting biased research on the customers. Citigroup even disrupted the European bond market by selling a large amount of bonds and then acquire them back a cheaper price.The organization has also been alleged of stealing money from its customers especially the poor and the recently deceased with an improper sweep vaunt in its computers. Hence it can be said that Citigroup has to go a long way in clearing its im age with the consumers because now with the internet, theyre aware of everything and already Citigroup faces a lot of competition from its competitors. Reference Winkler, Rolfe (August 21, 2009). extended banks still hold regulators hostage. Reuters, via Forbes. com (Retrieved August 21, 2010)