1700-1800
Bank of America has various heritage member the heritage members are gained as Bank
of America acquires the company. Now Bank of America goes back to 1784.
We are brought back to the War of 1812 Bank of America then known as Bank of the Metropolis was at the center of a British raid to set fire to public buildings. Fortunately for Bank of the Metropolis a female
custodian saved them. Later Bank of Metropolis helped rebuild the Capitol along with other areas. In addition to surviving the war Bank of Metropolis was lucky enough to have Francis Scott Key as a banking customer and attorney. Francis Scott Key was the poet who
written the “The Star-Spangled Banner”. To this day, Bank of America helps to preserve and digitalize the National Anthem (The Star-Spangled Banner) along with other organizations efforts. Another heritage member had help finance the textile building which is considered the birth place of the Industrial Revolution.
1900-now
From the 1900’s, onward Bank of America has been able to flourish and help other flourish thorough funding this include but not limited to political and economic advancements in
addition financing Hollywood through the Great Depression.
In 1904 Amadeo Peter Giannini
opened the Bank of Italy. The Bank of Italy was known as the bank that offered banking for the rich and for new United States’ immigrants. This was
a way for Bank of Italy to help to give a banking experience to both the rich and the poor. In 1954 Bank of Italy then debuted its first card BankAmericard. Bank of America launched the BankAmericard which flourished to extending contracted to other states. Later BankAmericard was changed to Visa. To this day, Visa is a top competitor in the World. Nations Bank acquired bank of Italy. Bank of America seems to always have prided itself on being diverse since
the beginning of time this is even seen with its many heritage member as
pointed out in my blog. Bank of America later became first in the world to bank through card
In 1983 Bank of Italy acquired it competitor then in 1991 the first bank to work coast to coast.
After bank of Italy was acquired by Nation Banks and then the name had changed to bank of America. After this expansion, Bank of America had acquired the history of bank of Italy along with expanding the history. Bank of America is known as a heritage bank. It even helps rebuild the capital. Through the example of heritage members
given you can see that Bank of America prides itself and its members work with
its customers to offer a better banking experience. This can be seen with
helping newly immigrated citizen to Hollywood producers during the Great
Depression. Recently Bank of America prides its self on being in business in
all 50 state and territories. Leading in online and mobile bank along while offering
many “industry leading support” clients and covering over 80% of the US
population through its various ventures.
Mission and Vision Statement
I was unable to find Bank of America Vision
and Mission Statement from their site. Although they do give a business model
for driving responsible growth.
Our perspective, Enabling financial health, Driving economic & social progress, Environmental sustainability, Valuing our people.
Bank
of America has Valves listed below:
Bank of America accessible
reporting system for both the Global Reporting Initiative (GRI) and the
Environment, Social and Governance (ESG) and Annual Report on their ventures.
ESG Synopsis
"ESG
investing is the consideration
of environmental, social and governance factors alongside financial factors in
the investment decision–making process”. Remy Briand, Managing Director of MSCI ESG Research
This
picture serves as a web to display the connection of various entities that
should be discussed in a company’s ESG report.
Synopsis GRI (Mission and
Vision Statement)
” GRI helps businesses and governments worldwide
understand and communicate their impact on critical sustainability issues such
as climate change, human rights, governance and social well-being. This enables
real action to create social, environmental, and economic benefits for
everyone. The GRI Sustainability Reporting Standards are developed with true
multi-stakeholder contributions and rooted in the public interest. “
Our Vision is:
A thriving global community that
lifts humanity and enhances the resources on which all life depends.
Our Mission is:
To empower decisions that create
social, environmental, and economic benefits for everyone.
Dear Nikera,
ReplyDeleteThank you for your sharing of American bank. Since I am not familiar with its history, your blog is very helpful for me to analyze the business situation you provided. And in my mind, These banks are much more concerned with adding huge stacks of cash to their already massive vaults. I am looking forward to see your analysis of this ethical issues.
Thank you and I do agree it does seem as though that Banks are more concerned with adding money to their vaults although I believe it may be for a manner of business especially when selecting which programs and accounts to fund or continue with.
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