Bank of America (NYSE:BAC) Named Top Banking Brand

A survey by Brand Finance Plc. found Bank of America (NYSE:BAC) to be the top banking brand in the world, surpassing HSBC (NYSE:HBC) for the No. 1 spot.

Jumping to the No. 2 spot was Wells Fargo (NYSE:WFC). HSBC dropped to the third spot overall.

David Haigh, chief executive officer of Brand Finance, noted, “American banking is beginning to rebound. Bank of America and Wells Fargo did well because they have expanded through acquisitions, American growth expectations have improved and both have focused on promoting their roles as traditional main street lenders.”

Other American-based banks in the top ten were JPMorgan, which came in fifth in the survey, and Citigroup (NYSE:C), which came in ninth place. Goldman Sachs (NYSE:GS) dropped from seventh place last year to sixteenth place this year.

Bank of America was trading at $14.29, gaining $0.56, or 4.08 percent, as of 1:09 PM EST. Wells Fargo was at $33.40, up 0.98, or 3.02 percent. JPMorgan was trading at $45.89, up $0.95, or 2.11 percent. Citigroup was as $4.885, up $0.065, or 1.35 percent. Goldman as up to $165.92, gaining $2.30, or 1.41 percent.