(Bloomberg) -- Bank of America Corp. does more
business in the U.S. than any of its competitors, and that's
eroding returns for shareholders of the Charlotte, North
Carolina-based company.
Demand for financial services is increasing three times as
fast outside the U.S., fueled by companies and investors in
Brazil, China, India and Russia. While Bank of America operates
in 45 countries, they produce only 13 percent of its revenue.
That's puny compared with Citigroup Inc., which derives almost
half its sales from abroad and ranks among the biggest banks in
Mexico, Poland and South Korea.
Read more at Bloomberg Currencies News
business in the U.S. than any of its competitors, and that's
eroding returns for shareholders of the Charlotte, North
Carolina-based company.
Demand for financial services is increasing three times as
fast outside the U.S., fueled by companies and investors in
Brazil, China, India and Russia. While Bank of America operates
in 45 countries, they produce only 13 percent of its revenue.
That's puny compared with Citigroup Inc., which derives almost
half its sales from abroad and ranks among the biggest banks in
Mexico, Poland and South Korea.
Read more at Bloomberg Currencies News
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