2003 Annual Report: Raising the Bar in the Middle Market (Page 3 of 3)

The Market Leader in Treasury Management

Companies and other institutions with annual revenues in the millions or billions of dollars can't function effectively unless they can properly manage their cash. They need to collect revenue quickly, make payments reliably and move money efficiently.

Bank of America has quietly emerged as the market leader in this less visible but vital area of banking, known both as cash management and treasury management. We're doing so by giving government and not-for-profit agencies, small and medium-sized businesses, and Fortune 500 corporations alike a set of products and services that best suits their very different needs while giving them a global reach in payments and collections. Along the way, the bank has earned the accolades of customers in the United States and abroad for providing, not simply products, but also solutions.

In 2003, both midsized and large companies voted Bank of America the best bank for domestic cash management services, in a poll conducted by Treasury & Risk Management magazine. The bank's Global Treasury Services, which now operates in 31 countries, was also named the best cash management and payments bank by EuroMoney magazine.

Treasury management means different things to different clients. A small business owner might depend primarily on a service that sweeps any excess cash for operations into an investment account. Larger corporations have many more needs, including processing and information reporting on many types of payment and receipt transactions, as well as up-to-the-minute account balance information.