About Bank of America: Our Strategy, Mission & Vision (2024)

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Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). Opinions or ideas expressed are not necessarily those of Bank of America nor do they reflect their views or endorsem*nt. These materials are for informational purposes only. Bank of America does not assume liability for any loss or damage resulting from anyone's reliance on the information provided. Certain links may direct you away from Bank of America to an unaffiliated site. Bank of America has not been involved in the preparation of the content supplied at the unaffiliated sites and does not guarantee or assume any responsibility for its content. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies.


"Bank of America" is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Merrill Lynch Professional Clearing Corp., all of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.

Trust and fiduciary services are provided by Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly-owned subsidiary of Bank of America Corporation (“BofA Corp.”). Insurance and annuity products are offered through Merrill Lynch Life Agency Inc. (“MLLA”), a licensed insurance agency and wholly-owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp.

The mobile feature, Erica®, is only available in the English language. The feature requires that you download the latest version of the Mobile Banking app and is only available in the Mobile Banking app for select iOS and Android devices. Message and data rates may apply. Your chat may be recorded and monitored for quality assurance. Member FDIC.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:

Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
Are Not Deposits Are Not Insured by Any Governmental Agency Are Not a Condition to Any Banking Service or Activity

Company goals are aspirational and not guarantees or promises that all goals will be met. Statistics and metrics included in our ESG documents are estimates and may be based on assumptions or developing standards.

About Bank of America: Our Strategy, Mission & Vision (2024)

FAQs

What is the mission and vision of Bank of America? ›

We are delivering on our purpose to help make financial lives better through our focus on responsible growth. Our commitment to responsible growth is resolute, and has four tenets: We have to grow — no excuses. We have to be client focused. We have to grow within our risk framework.

What is Bank of America's business strategy? ›

Here are the 3 core principles that primarily guide Bank of America's strategy: Being client-focused. Driving operational excellence. Growth, which is both sustainable and within the appropriate risk framework.

What is the mission and vision statement of Bank? ›

Here is a typical mission statement for a bank: “We will be the preferred provider of targeted financial service in our communities based on strong customer relationships. We will strengthen these relationships by providing the right solutions that combine our technology, experience, and financial strength.

What is the mission of the American Bank? ›

Our Mission

We enable our customers and communities to grow and meet their wealth goals by delivering quality financial solutions with great leadership.

Why do you want to work for Bank of America? ›

Sample answer: Bank of America is the most well-known and largest bank in the United States in terms of assets. It is well-known for providing excellent banking and customer service. In addition, the culture is welcoming, and there is room for advancement in the workplace.

What is first Bank mission and vision? ›

Our Mission

Provide accurate, prompt, courteous service. Make it easy for our associates to deliver the best value to our clients, and easy for our clients to do business with us whenever, wherever, and however they choose. Help our clients and associates build and achieve goals.

What is Bank of America best known for? ›

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

What is the generic strategy of Bank of America? ›

Based on Porter's competitive strategy model, BofA's main generic strategy is cost leadership. Cost leadership focuses on aiming for low costs in providing financial services. This leads to the banking company maximizing its profits and optimizing its service fees to benefit customers.

What is Bank of America's culture? ›

Company culture

We've built a strong culture of inclusion by fostering an environment of trust and engagement, where all employees are empowered to bring their whole selves to work.

What is in a vision statement? ›

A vision statement outlines the company's long-term goals and aspirations for the future in terms of its long-term growth and impact on the world. Your mission defines what your organization does and what you stand for, while your vision statement speaks to your goals and ideals for the future.

What is the mission and statement? ›

A mission statement is a simple and brief description that encompasses the purpose of a company defining its culture, goals, and values. It helps customers, employees, and investors have a clear vision of the company's top priorities.

What is a good vision and mission statement? ›

Your vision statement should inspire people to dream; your mission statement should inspire them to action. The mission statement might refer to a problem, such as an inadequate housing, or a goal, such as providing universal access to health care.

Who owns and controls Bank of America? ›

Bank of America is a publicly traded company, so it is owned by its shareholders. The ownership of Bank of America is distributed among institutional investors, individual investors, and other entities that hold its stock.

What is the Bank of America statement of respect? ›

We firmly believe all employees should be treated with respect, live free of discrimination and be able to bring their whole selves to work.

What are the values of mission Bank? ›

Our guiding values have been, and will continue to be, Integrity, Drive, Ownership and Collaboration. Mission Bank's core purpose is To Fuel and Grow Vibrant and Prosperous Communities.

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