Financial markets magazine Euromoney has named U.S. Bancorp as the “Best Bank in the U.S.” as part of the publication’s 2009 Awards for Excellence. The honor was presented the Minneapolis, Minn.-based bank in London last week.
The publication cited U.S. Bancorp’s performance during the roller coaster economy and noted that the bank “has been seen as a safe pair of hands with a balance sheet to use, and companies have needed banks over turbulent times that can lend when loans are due for renewal.”
“Investors in U.S. Bancorp have shown their positive view by buying up a stock offering, and the company passed the stress tests where others failed,” said Helen Avery, Euromoney’s U.S. editor.
Euromoney has selected the outstanding institutions in finance with its annual Awards for Excellence since 1992. The awards include global recognition for organizations within banking and capital markets, and they give recognition to the best banks and security houses in almost 100 countries.
U.S. Bancorp is the parent company of U.S. Bank, the sixth largest commercial bank in the United States.