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BANK OF AMERICA CORPORATION

(BAC)
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Bank of America : Named Best Consumer Digital Bank in the United States by Global Finance

09/20/2021 | 04:28am EDT

Bank of America has been named the Best Consumer Digital Bank in the United States by industry publication Global Finance.

The annual regional award recognized the company for digital leadership in the areas of personalization, strategy, approach and execution.

'This recognition as the Best Consumer Digital Bank is a testament to the focus and dedication of our talented team of digital and technology professionals, and our ongoing investment in technology,' said David Tyrie, Bank of America Chief Digital Officer and Head of Global Marketing. 'We are delivering unmatched financial technology to help make our clients' financial lives better.'

Global Finance chose winners of its awards from entries evaluated by a panel of judges at Infosys, a global leader in consulting, technology and outsourcing. Judges considered the strength of strategy for attracting and servicing digital clients, growth and adoption among digital clients, breadth of product offerings, tangible benefits gained from digital initiatives, and web and mobile site design and functionality.

Digital engagement continues to grow rapidly with more Bank of America clients making online and mobile their primary channels for banking and lending, as well as investing through the company's Merrill Edge Self-Directed and Merrill Guided Investing offerings. Last year, Bank of America made more than 1,500 enhancements to digital features and platforms. This year, the company is on pace to surpass 2,000 enhancements.

Bank of America digital leadership in consumer banking has been further solidified via various awards and recognitions throughout 2021, including No. 1 rankings from J.D. Power in customer satisfaction among national banks for both online banking and mobile banking apps. Javelin Strategy & Research named Bank of America 'Best in Class,' its highest honor, in both mobile and online banking for the fifth consecutive year. In addition, the company received Celent's 2021 Model Bank award for Customer Engagement.

Overall this year the Bank of America Consumer Bank has been recognized with more than 170 industry awards for its innovation, solutions, financial technology, and delivering exceptional client service and experiences.

Download the Bank of America app or visit bankofamerica.com.

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 66 million consumer and small business clients with approximately 4,300 retail financial centers, approximately 17,000 ATMs, and award-winning digital banking with approximately 41 million active users, including approximately 32 million mobile 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.

For more Bank of America news, including dividend announcements and other important information, register for news email alerts.

Reporters May Contact:

Andy Aldridge, Bank of America

Phone: 1.980.387.0514

andrew.aldridge@bofa.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 89 213 M - -
Net income 2021 29 940 M - -
Net Debt 2021 - - -
P/E ratio 2021 13,5x
Yield 2021 1,64%
Capitalization 392 B 392 B -
Capi. / Sales 2021 4,39x
Capi. / Sales 2022 4,24x
Nbr of Employees 209 407
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 47,57 $
Average target price 46,45 $
Spread / Average Target -2,36%
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Managers and Directors
Brian T. Moynihan Chairman, President & Chief Executive Officer
Paul M. Donofrio Chief Financial Officer
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Andrea B. Smith Chief Administrative Officer
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