Bank of America reported in a securities filing that it is rearranging its business segments, including combining its deposits and credit card units into one.
Before, the Charlotte bank had six segments:
- Deposits
- Card Services
- Consumer Real Estate Services
- Global Commercial Banking
- Global Banking & Markets
- Global Wealth and Investment Management
Now it has five:
- Consumer and Business Banking, which includes deposits, card services and the business banking part of the former Global Commercial Banking.
- Consumer Real Estate Services
- Global Banking
- Global Markets
- Global Wealth and Investment Management
Here's how they ranked by net income for 2011, under the new classifications as reported Wednesday:
Consumer and Business Banking: $7.5 billion
Global Banking: $6 billion
Global Wealth and Investment Management: $1.7 billion
Global Markets: $1 billion
Consumer Real Estate Services: loss of $19.5 billion
All other: $4.8 billion
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