Bank of America Named World’s Best Bank by Euromoney Magazine
Euromoney magazine has named Bank of America the World’s Best Bank for 2022. The honor was announced last night at Euromoney’s Awards for Excellence gala, an annual event that recognizes outstanding leadership in financial services. Euromoney also named Bank of America the World’s Best Bank for Payments and Treasury for the second consecutive year. The bank won a further eight regional and country awards.
For World’s Best Bank, Euromoney’s editor Louise Bowman said: "Under the leadership of Brian Moynihan, Bank of America has become the poster child for stakeholder capitalism in banking.” She further explained that “previous strong underwriting and ample liquidity have enabled the bank to grow loans strongly in the pandemic recovery." This is the second time in five years that the bank has won the award.
Commenting on the award, Bank of America Chair and Chief Executive Officer Brian Moynihan said, “We are pleased to be recognized as the best bank in the world by Euromoney. We achieved this honor by delivering Responsible Growth for our clients, our teammates, our communities, our shareholders and for society. That’s how we deliver on profits and purpose, which we call the ‘genius of the AND.’ An honor like this serves as recognition for the great work our teammates have done – and, importantly, the great work we need to do in the future.”
For World’s Best Bank in Payments and Treasury, Euromoney’s Bowman noted, "Bank of America’s scale and reach is proving a differentiator here for one simple reason – data. The bank processes between $1.8 trillion and $2.2 trillion payments (daily) and is now the number one issuer of US Visa and Mastercard commercial cards. All this activity translates into a mine of information." With tools such as CashPro® Forecasting, Bank of America is helping its clients use their own data to become more efficient and strategic.
The additional eight regional and country awards spanned Latin America and North America:
The Euromoney Awards for Excellence were established in 1992 and are the global benchmark for the banking industry.
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with more than 54 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
“Bank of America” is the marketing name used by certain Global Banking and Global Markets businesses of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. © 2022 Bank of America Corporation. All rights reserved.
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Louise Hennessy, Bank of America