The FINANCIAL — Recognizing Bank of America’s ability to adapt to challenging market conditions and ever-changing client needs while outperforming its peers, Euromoney has named Bank of America as the recipient of seven regional and country awards in the publication’s 29th annual Awards for Excellence program.
The awards and some of the publication’s rationale include:
Best Bank for Corporate Responsibility: “Nearly all banks talk about corporate responsibility, few make it integral to the way they work. What sets Bank of America apart is that it has been doing just that for years and this year.” The magazine cited the numerous programs the bank introduced during the pandemic to support its employees, clients and communities.
Best Bank for Small and Medium Size Enterprises (SMEs) for the sixth consecutive year: “For small and medium-sized enterprises the year of Covid presented the same challenges as it did to their bigger corporate cousins, only the scale was different. Sometimes they needed help to survive; at other times they need help to thrive…In North America it was once again Bank of America that was best able to give that help and it is the region’s best bank for SMEs.”
Best Bank for Transaction Services for the second consecutive year: “In a year when traditional ways of managing corporate cash flows, trade and retail payments faced their biggest challenge yet, one bank continued its relentless investment, building upon years of success. Bank of America once again wins the award for North America’s best bank for transaction services.”
Best Advisory House for the second time: “BofA’s success is built on its reach. During the review period it advised on 20 M&A transactions, spanning 10 different industries and seven countries – and nine were cross-border transactions. Unsurprisingly some of these deals were very large… BofA Securities also led on transformational deals elsewhere in the Andean region, in Brazil, the southern cone, central America and the Caribbean and Mexico.”
Best Investment Bank for the third time: “This year BofA Securities topped the equity capital markets volume and fee tables across the region, as well as being first in fees and second in terms of volume for M&A. An analysis of the underlying deals also supports the bank’s claim for Latin American leadership.” The magazine cited the bank’s role as lead left and global coordinator on the third-largest IPO ever priced in Brazil, and how it demonstrated range with other types of equity transactions, such as convertibles.
Country Awards in Europe, Middle East and Africa
Best Investment Bank in Germany: Euromoney recognized the bank’s strong momentum in debt and equity capital markets and its leadership role in marquee M&A deals.
Best Investment Bank in South Africa: “South Africa is the country in Africa where global investment banks retain the highest presence and that’s reflected in the impressive scale and breadth of activity at Bank of America over the past year.”
According to Bank of America, the Euromoney Awards for Excellence were established in 1992 and are the global benchmark for the banking industry. Euromoney magazine is an English-language monthly magazine widely considered to be the leading authority for the world’s banking and financial markets. Created in 1969, the publication is recognized as a leading news resource for information about global banking, macroeconomics and capital markets, including debt and equity.
About the Awards for Excellence
Euromoney’s Awards for Excellence were the first of their kind in the global banking industry. This year Euromoney received over 1,000 submissions from banks in its regional and country awards program that covers more than 50 regional awards and best bank awards in 100 countries. The awards are said to be the most frequently-referenced recognition in banking.