One of the American multinational companies that provide financial services is the Bank of America Corporation. It is mainly based in the Charlotte city that is part of North Carolina. When it comes to the rankings of the largest banks in the U.S this bank ranks at 2nd position. According to the reports of the year 2016, it ranks at 26th position by revenue amongst the largest companies in the United States. Not only in the United States the It has made a mark in the internationally too. On the Forbes Magazine, it was ranked at 11th position. This position was in the list of largest companies in the world.
In 2008 its acquisition with the Merrill Lynch investment bank proved to be a major game changer. The Bank of America made a strong mark in the investment banking market. According to the calculations up to 31st December 2017, the bank had US$1.081 trillion in terms of assets. Some of its biggest competitors are Wells Fargo, CitiGroup, and JPMorgan Chase.
Bank of America: History
On 17th October 1904, the Bank of Italy was found. This bank was founded by Amadeo Pietro Giannini in San Francisco. It was helpful for many immigrants in the United States at that point in time. During the time when the San Francisco earthquake occurred Giannini was able to rescue funds and give loans. He used to provide money to those who wanted to rebuild. In the year 1922 Giannini founded the Bank of America and Italy. In 1918 the bank even opened a permanent overseas office. Since 1904 many developments were seen in the bank. The merger of this bank with Bank of America occurred in the year 1928. This led to the bank becoming the largest institution in banking in the country.
Currently, the bank provides its services through the automated teller machines, mobile banking, call centers and retail financial centers. There is a section for providing consumer real estate products. The bank provides lower saving rates to the customers. Comparing its rates for the checking account with other institutions they are lesser in rate.
The largest division of the company is consumer banking. This division is responsible to provide financial services to small businesses like banking investments and consumers. It also products to its customers that include mortgages, business loans, and credit cards. There is also an electronic trading platform that provides the facility of investing online. When it comes to calculating the company’s total revenue then it’s 38% share came from consumer banking division in 2016. There are other sources of earning revenue too. This includes service charges, fees, and interest income. It is also a major competition for the major retail banking arms of America.
Routing Number of Bank of America Arizona (AZ)
There are different terms used for the routing number. These include Bank of America aba number, routing transit number and more. It is a nine-digit number that you will find on the check. They are mainly used for the purpose of wire transfers. You will need them in the transfer of money without the use of cheque, cash or paper.
Finding the routing number could be confusing. In certain cases, the bank has several branches that may possess different routing numbers. Thus, to reduce your effort we have come up with an online way to check these numbers. You need to understand this fact that every institution has a routing number for facilitating electronic transactions. Do not share your routing number with anyone.
The Routing Number of Bank of America Arizona is as follows: