Highlighting the company’s ability to capture market share, deliver innovation and support clients’ expanding needs, Euromoney Magazine has named Bank of America the World’s Best Bank for Markets and the World’s Best Bank for Trade Finance. In total, the bank received 19 awards at Euromoney’s Awards for Excellence gala on July 18 in London, an annual event that recognizes outstanding leadership in financial services.
World’s Best Bank for Markets
In its rationale for naming BofA as the winner of this category for the second consecutive year, Euromoney’s editor Louise Bowman said, “Bank of America was the only one of the dozen biggest global markets businesses to increase revenues in 2023. This fitted into a broader narrative of steady but substantial improvement in the bank’s markets franchise over the past several years.”
Commenting on the award, Bank of America’s President of Global Markets Jim DeMare said, “This recognition reflects our platform’s growing influence and importance with our clients and overall performance. Our success in 2023 was delivered without losing our laser focus on risk management and responsible growth. We have more to do.”
World’s Best Bank for Trade Finance
Naming BofA as the winner of this category, Bowman added, “Because of the number of global corporations that sit in the U.S. and are banked by it, the firm is the natural driver of a platform such as this [Open Account Automation]. Having CashPro as an existing gateway is a huge advantage since the bank’s clients can be easily onboarded onto the financing solution.”
“As one of the very first forms of financing, trade finance continues to be the backbone of every economy around the world,” said Dean Athanasia, President of Regional Banking for Bank of America. “In supporting buyers and suppliers with easy-to-use, digital innovations, we‘re helping to transform trade finance for the benefit of all market participants.”
Below is the complete list of awards Bank of America received in the global, regional and country categories:
Global
- The World’s Best Bank for Markets
- The World’s Best Bank for Trade Finance
North America
- North America’s Best Bank for Sustainable Finance
- North America’s Best Digital Bank
- North America’s Best Bank for Transaction Services
- North America’s Best Bank for SMEs
Latin America
- Latin America’s Best Investment Bank
- Latin America’s Best Bank for Advisory
- Chile’s Best Investment Bank
- Colombia’s Best Investment Bank
- Peru’s Best Investment Bank
Europe
- Western Europe’s Best Investment Bank
- Western Europe’s Best Digital Bank
- Finland’s Best Investment Bank
- Greece’s Best Investment Bank
- Switzerland’s Best International Investment Bank
Africa
- Angola’s Best Investment Bank
- South Africa’s Best International Investment Bank
Asia Pacific
- Australia’s Best Investment Bank
Bank of America has received the highest number of global and regional awards this year, a position tied with two other firms. The Euromoney Awards for Excellence were established in 1992 and are the global benchmark for the banking industry.
Source – Bank of America
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 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 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 4 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 more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).
