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The history of Bank of America is rooted in a tradition of democratizing finance, beginning with the founding of the Bank of Italy on October 17, 1904, in San Francisco by Amadeo Pietro Giannini. Giannini’s vision was revolutionary: to serve working-class citizens, particularly immigrants, who were systematically excluded by larger institutions, pioneering concepts like branch banking and small personal loans. The name officially became Bank of America in 1930, and the institution grew to become a prominent player in the US financial landscape. However, the modern Bank of America Corporation was fundamentally established in 1998 through the acquisition of the former BankAmerica by NationsBank, forging one of the largest financial services holding companies in the world.

Currently, Bank of America is a massive, publicly traded company (NYSE: BAC) and ranks as the second-largest banking institution in the United States by market capitalization and assets. It is one of the nation's "Big Four" banks and is designated as a systemically important financial institution, with operations revolving around commercial banking, wealth management (Merrill), and a powerful investment banking arm (BofA Securities). In the Indian financial system, its significance is not found in a vast retail network, but as a critical foreign institutional investor and corporate partner. Operating in the country since 1964, it is a key provider of corporate, investment, and treasury services to large multinational and local Indian corporations, utilizing its domestic entity, BofA Securities India, to participate heavily in India’s capital markets through M&A, debt, and equity solutions. The bank also maintains significant Global Business Services (GBS) centers in India that are central to its global technology and operations.