Sources familiar with the matter told Reuters that the bank had asked potential suitors to submit first-round bids this week.
"Three percent of assets under management (is high) in Europe, but it is low in emerging markets. In Asia it is perfectly possible to raise 4 to 5%, and the same thing goes for Latin America," the source added.
In 2009, Bank of America acquired most of the overseas operations as a part of acquisition deal of Merrill Lynch & Company and the bank’s overseas business is managing nearly $90bn of clients.
Bank of America expects that a lot of firms will come ahead to buy its international operations, including UBS, Credit Suisse, Deutsche Bank, JPMorgan Chase & Co and Wells Fargo.
In order to concentrate on its core business segment in the US and boost capital, the bank has already disposed its Canadian and Spanish credit card businesses last year, and in March reached an agreement to sell its Irish credit card portfolio, while preparing plans to exit its card business in the UK.
