Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

BANK OF AMERICA CORPORATION

(BAC)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bank of America Corp : Bank of America Merrill Lynch Implements CashPro Accelerate for Leading Airline

12/16/2013 | 09:42am EDT

"Progressive clients in Taiwan are demanding innovative solutions and advisory services that enhance overall cash visibility, while also consolidating treasury controls centrally. CashPro Accelerate delivers on the sophisticated treasury requirements in this evolving market and continues to penetrate the Taiwan corporate space"

Bank of America Merrill Lynch Global Transaction Services (GTS) has implemented its CashPro Accelerate® reporting solution for China Airlines, Taiwan's largest international carrier. The implementation comes as Taiwan-based corporations continue to embrace next generation technology solutions for cash visibility purposes, consistent with Bank of America Merrill Lynch treasury research.      

CashPro Accelerate provides numerous benefits for the airliner's treasury management operations locally and internationally. The solution empowers the company to optimize cash visibility across its global branches, enhancing both treasury controls and forecasting functions. CashPro Accelerate also simplifies forecasting processes by benchmarking cash flow forecasts and pinpointing variances from projected cash flows. Furthermore, CashPro Accelerate provides the client with centralized reporting, allowing the online management and analysis of account information and the creation of customized spreadsheets.      

"Progressive clients in Taiwan are demanding innovative solutions and advisory services that enhance overall cash visibility, while also consolidating treasury controls centrally. CashPro Accelerate delivers on the sophisticated treasury requirements in this evolving market and continues to penetrate the Taiwan corporate space," said Kitty Yen, head of Corporate Sales for Taiwan, Global Transaction Services.

CashPro Accelerate integrates with CashPro® Online, Bank of America Merrill Lynch's web-based banking and financial management solution, to retrieve bank account data and provide around the clock access to information. The solution works in tandem with CashPro Online's Information Reporting module, through which clients can work online to access and analyze account information empowered by the flexibility of the Excel format and the security and reliability of Bank of America Merrill Lynch's global platforms.

The implementation of CashPro Accelerate by China Airlines is consistent with the results on the inaugural Bank of America Merrill Lynch-SunGard Asia Pacific Treasury Management Barometer. According to Taiwan-based treasurers, 72 percent identify cash visibility as a primary focus in the next 12 to 24 months, compared to a weighted average of 60 percent in Asia Pacific. 

Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,200 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. 

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, a locally registered entity. Investment products offered by Investment Banking Affiliates:  Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

Copyright 2013 Bank of America Corporation. All rights reserved. Bank of America, Merrill Lynch, Broadcort and their logos are trademarks of Bank of America Corporation and/or its affiliates.

About China Airlines
China Airlines is the largest airline in Taiwan providing domestic and international air transportation for passengers and cargo freight throughout cities in Europe, America, Asia and Australia. With 36 subsidiaries covering aviation, ground services, logistics, air cargo, catering, bulk laundry, information network and tourism business. China Airlines is listed on the Taiwan Stock Exchange (TWSE 2610).

Reporters May Contact:
Andrew Peck, Bank of America Merrill Lynch, 852.2161.7129
andrew.peck@baml.com

distributed by

ę Publicnow 2013
All news about BANK OF AMERICA CORPORATION
05:15pFinancials Up As Traders Shrug Off Evergrande Worries -- Financials Roundup
DJ
05:05pHealth Care Down On Muted Spending Views -- Health Care Roundup
DJ
08:55aFTSE Falls, Retail Sales Slow as Pandemic, Brexit Weigh
DJ
05:30aMAJOREL LUXEMBOURG S A : Shares Drop 6% in Amsterdam Debut
MT
01:52aCHINA EVERGRANDE : Swiss Central Bank Keeps Track of Evergrande's Potential Fallout
MT
01:12aStanChart Remains Upbeat on China Investment Despite Evergrande Troubles
MT
09/23UBS : CEO Says Exposure to Troubled Evergrande Limited
MT
09/23MAJOREL LUXEMBOURG S A : Valued at $3.9 Billion in Amsterdam IPO
MT
09/23U.S. business borrowing for equipment rises 21% in August - ELFA
RE
09/23BANK OF AMERICA : England considers tough rules on crypto
AQ
More news
Analyst Recommendations on BANK OF AMERICA CORPORATION
More recommendations
Financials (USD)
Sales 2021 87 567 M - -
Net income 2021 28 015 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,8x
Yield 2021 1,86%
Capitalization 355 B 355 B -
Capi. / Sales 2021 4,05x
Capi. / Sales 2022 3,88x
Nbr of Employees 212 000
Free-Float 98,0%
Chart BANK OF AMERICA CORPORATION
Duration : Period :
Bank of America Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANK OF AMERICA CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 41,69 $
Average target price 43,85 $
Spread / Average Target 5,19%
EPS Revisions
Managers and Directors
Brian T. Moynihan Chairman, President & Chief Executive Officer
Paul M. Donofrio Chief Financial Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Andrea B. Smith Chief Administrative Officer
Sector and Competitors