Bank of America is an established and well reputed bank which primarily operates in North and South America. The company provides banking as well as non banking related services pertaining to finance. The company is a highly diversified entity which provides customized was well as standardized services to its customers in various other industrial and consumer secrtors. “The company operates through four business divisions: global consumer and small business banking, global corporate and investment banking, global wealth and investment management and all other.” (‘Company Profile -Bank of America’, Datamonitor)
As a result the industry in which the company operates in is the American banking industry. This industry is largely dominated by the commercial banks and the retail and investment banks in region. The commercial sector mostly provides products which pertain to retail banking, and financial services for small and medium corporations.