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Bank of America, formerly known as the Bank of Italy, was founded in San Francisco, California, United States, on October 17, 1904, [1] by Amadeo Pietro Giannini.By 1945, it had grown by a branch banking strategy to become the world's largest commercial bank with 493 branches in California and assets totaling $5 billion.
Amadeo Pietro Giannini (Italian pronunciation: [amaˈdɛːo ˈpjɛːtro dʒanˈniːni]), also known as Amadeo Peter Giannini or A. P. Giannini (May 6, 1870 – June 3, 1949) was an American banker who founded the Bank of Italy, which eventually became Bank of America. Giannini is credited as the inventor of many modern banking practices.
Bank of America, National Trust and Savings Association (NT&SA) was the primary bank subsidiary of BankAmerica Corp. Amadeo Giannini chose this unusual extension for the bank's name in order to highlight its multiple functions when it converted from a state charter to a national one. The bank was founded as Bank of Italy on October 17, 1904.
The bank was renamed to Banca d'America e d'Italia (literally the Bank of America and Italy). In December 1986 Deutsche Bank acquired 98.3% voting rights of the bank. [3]: 71 In 1994 the bank was renamed to Deutsche Bank S.p.A.. [2] In 1994 the DB Italy also acquired Banca Popolare di Lecco. [2] In 1999 DB Italy acquired 20% shares of Cassa di ...
Bank of America, Los Angeles was founded in California in 1923. In 1928, this entity was acquired by Bank of Italy of San Francisco, which took the Bank of America name two years later.
I.e., account holders using their Bank of America ATM card or debit card at a China Construction Bank ATM in mainland China can avoid the "non-Bank of America usage fee" and "ATM operator access fee" for each withdrawal, transfer, or balance inquiry. The 3 percent "international transaction fee" for converting currencies will still apply. [7]
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