Bank of America corporation, CEO known as Brian Moynihan has said that the bank may double their share of consumer market in the US in spite of fears about powers of the largest banking institutions in the country.
Moynihan has said that the market share of the bank is probably going to be around 12-14% according to the different counts but the reality is that the count will be twice of that.
He said in his recent interview that a few of the soft drink, auto and the beer companies have massively had a lot more shares of the consumers than the bank.
A time frame has not been shared by Moynihan in the interview for the bank doubling its market share of consumers.
He has said that if a good job has been done for the clients and customers they are fair in their pricing, he thinks that it is good a the scale which they have has enabled us for doing a lot more for these customers when they he had been asked about the greater concentration in the banking had been good for the customers or important for garnering a lot more scrutiny from the regulators.
With the deposits showing growth over the rate of the industry, a loan portfolio which is low risk and a stronger balance sheet showing billions in the excess amount of liquidity, the pieces had been in place for this bank to continue to take the market share, he said in this interview.
Charlotte CEO, which is a lender based out of North Carolina has added that he is not going to look to foreign markets for the growth in retail.