HONG KONG: Bank of America Corp will seek more lending and cash management business with companies in Asia and elsewhere outside its US home turf, according to chief executive Brian Moynihan, an area ripe for expansion where it lags its big rivals.
That could mean vying for market share with more entrenched global banks such as Citigroup Inc and HSBC Holdings Plc in fast-growing regions like Asia, where Fortune 500 companies and big local corporations demand a full spectrum of banking services from hedging to foreign exchange to cash management.