The
merger between Bank of America, the No. 3 bank by assets
in the US, and Fleet Boston, the No. 7 bank, gives birth
to a banking giant which will have an asset size of
$933 bn and will be ranked second, next only to Citigroup.
From
a broader perspective, we are building a company that
will deliver more financial service capabilities to
more Americans than ever before in our nation's history.
In
a bold and surprising move Bank of America announced
to acquire its rival Fleet Boston Financial in one of
the largest ever acquisition deals in the history of
the US banking industry. Bank of America, the No. 3
bank in the US, with an asset base of $737 bn, today
serves one in three American households with 4,211 banking
centers, more than 13,120 ATMs, more than 6.6 million
active online users, and is present in 150 countries.
Fleet Boston, ranked seventh in the country, is a diversified
financial services provider with assets of $196 bn,
has more than 3,400 ATMs and caters to over 18 million
customers. |
