Which bank went on to become the Bank of America?

Which bank went on to become the Bank of America?


Bank of Italy




Answer: The history of Bank of America dates back to 1904, when Amadeo Giannini founded the Bank of Italy in San Francisco. The Bank of Italy served the needs of many immigrants settling in the U.S. at that time, a service denied by many existing American banks. In 1928, Giannini merged with Bank of America, Los Angeles and consolidated it with his other bank holdings to create what would become the largest banking institution in the country. He renamed the Bank of Italy on November 3, 1930, calling it Bank of America.




The Bank of Italy was founded in San Francisco, California, United States, on October 17, 1904 [1] by Amadeo Giannini. It grew by a branch banking strategy to become the Bank of America, the world’s largest commercial bank, with 493 branches in California and assets of $5 billion in 1945. The Bank of Italy merged with the smaller Bank of America, Los Angeles in 1928.[2] In 1930, Giannini changed the name “Bank of Italy” to “Bank of America”. As chairman of the new, larger Bank of America, Giannini expanded the bank throughout his tenure, which continued until his death in 1949.