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Merrill Lynch Banking & Financial Services Conference
Bank of America Card Services is the leading credit card issuer in the US, with $146.8 billion in US credit card loans as of 3Q06. It has grown managed credit card loans by 31% from 2004 to 2006 through market-leading products, affinity marketing partnerships with over 5,000 organizations, and an expanding customer base across multiple distribution channels. While managed credit card losses rose in 3Q06, they remained lower than the prior year through continued improvements in asset quality. Going forward, Bank of America Card Services aims to leverage its scale and integrated banking platform to drive further profitable growth across key markets, products, and customer segments.
