Sample Essay
The opportunities that are present to the Bank of America pertain to the acquisition of the MBNA and establishment of business in the field of wealth management and consumer banking. This is depicting growth in the industry. Aside from this the Bank of America also has opportunities relating to the banking in the global context especially in the investment and brokerage sectors.
The challenges that pertain to the Bank of America in the US banking industry include the change in the Basel to Basel II accord which is globally required. This will cost the company major investment in staff as well as training and strategic and policy changes. Aside from this the consolidation taking place in the US banking industry as well as the global banking industry also posses the company as a threat. Aside from this the increasing regulatory pressures by the government on the interest rates in the market is also decreasing the business for the Bank of America as a result of the mortgage and inflation crisis in the US leading to an economic recession.
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