7. Bank of America ( BAC) is one of the world's largest financial conglomerates, offering a range of services that include banking, investment, asset management, and financial and risk management products and services. The bank reported net income of $2 billion for the first quarter of 2011, compared to $3.2 billion in the year-earlier period and a net loss of $1.2 billion in 2010 fourth quarter. Higher net income resulted from lower credit costs, higher fee income, and investment gains. Credit quality improved in the first quarter of 2011, with net write-offs declining across most portfolios compared to the first quarter of 2010. The bank's loan book expanded $101 billion in the first quarter of 2011 -- the third quarter of consecutive loan growth -- while deposits grew 5%. Bank of America is estimated to have provided $144 billion in the first quarter of 2011 towards first mortgages, consumer business cards, home equity products, and other consumer credit. The Tier-1 capital ratio at the end of the March quarter was 11.2% and capital adequacy ratio was 15.8%. The stock trades at 11.4 times its estimated 2011 earnings and is likely to deliver 43% return in the next one year.