Euromoney Magazine has named Bank of America (BofA) the World’s Best Bank for Markets and the World’s Best Bank for Trade Finance. The bank received a total of 19 awards at Euromoney’s Awards for Excellence gala on July 18 in London, an event that recognizes leadership in financial services.
In explaining BofA's selection as the World's Best Bank for Markets for the second consecutive year, Euromoney’s editor Louise Bowman stated, “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.”
Jim DeMare, President of Global Markets at BofA, commented on the award: “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.”
Regarding BofA's designation as the World's Best Bank for Trade Finance, 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.”
Dean Athanasia, President of Regional Banking at BofA, remarked, “As one of the very first forms of financing, trade finance continues to be the backbone of every economy around the world. 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.”
The full list of awards received by Bank of America includes:
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 tied with two other firms for receiving the highest number of global and regional awards this year. The Euromoney Awards for Excellence were established in 1992 and serve as a benchmark within the banking industry.
Bank of America serves individual consumers, small and middle-market businesses, and large corporations with a range of banking, investing, asset management, and financial products. It operates approximately 3,800 retail financial centers and about 15,000 ATMs across various regions including more than 35 countries globally.
Reporters may contact Sheryl Lee at sheryl.lee2@bofa.com or call 1.657.234.9950.