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Bank of America Corp.
Rank: 28
Profits ($millions): $14,982
Change from 2006: -29.1%
Ticker: BAC

Bank of America's earnings slipped 29% to nearly $15 billion in 2007, pinched by writedowns in its mortgage related portfolio and its planned purchase of struggling mortgage lender Countrywide Financial.

Still, the bank is the second largest in the U.S. by assets and appears relatively well capitalized. The bank plans to increase profits overseas by raising its stake in China Construction Bank and launching more partnerships in that country.



NEXT: China National Petroleum
Last updated July 09 2008: 8:24 AM ET
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