Life for small and medium-sized enterprises is rarely comfortable. Even when your business is faring well, the capricious nature of policymakers and markets can upend carefully laid plans.
At those times, the value of a steadfast banking partner is immense. For its constancy in difficult conditions and its unwavering commitment to the bedrock of the economy, Bank of America is North America’s best bank for SMEs.
AfE 2024
BofA set new records. In its business banking franchise – covering clients with $5 million to $50 million of annual revenues – it had its best year ever, increasing market share and adding a record number of clients.
Business banking revenues were up 20% year on year to $1.8 billion. Revenues in the global commercial banking division, which covers clients with up to $2 billion in revenues, were up 8% to $9.2 billion.
The best banking franchises always like to claim that they prefer tough conditions because those are the times when they can add market share as others struggle.