Awards for Excellence 2018
It is hard to imagine another bank coming close to Bank of America Merrill Lynch for the sheer breadth of what it can offer to small and medium-sized enterprises. A lot of that is to do with a philosophy that looks beyond the size of the client to the value of nurturing a sound business and to be best-positioned to support it as it grows.
It is a philosophy that those tasked with looking after SME clients at BAML have espoused for years and is why the bank is again North America’s best bank for SMEs.
It helps that BAML chairman and chief executive Brian Moynihan knows the value of the SME franchise. He regularly name-checks it when speaking about the bank. Talking to analysts about the bank’s first-quarter 2018 results, he noted the 9% year-on-year growth in loan balances to small businesses, defined as those with revenues of below $5 million, as well as mid-single digit growth in lending to business banking clients, who have revenues of below $50 million.