U.S. Bank named a 2021 World’s Best Bank by Global Finance Magazine

May 11, 2021

Minneapolis-based bank wins top honor in three U.S. regions; recognized for pandemic response, digital innovation and efforts to address social and economic inequities.

U.S. Bank was named one of the World’s Best Banks in 2021 by Global Finance Magazine, earning the top honor in three U.S. regions for the second consecutive year: Great Lakes, Plains and Southwest.

Global Finance recognized U.S. Bank for our service to customers and communities throughout the COVID-19 pandemic, ongoing investments in technology and digital tools, and initiatives to address social and economic inequities.

Since the start of the pandemic, U.S. Bank has helped more than 357,000 consumer customers with loan forbearance programs, fee waivers and other relief programs. We have also helped small businesses secure more than 174,000 Paycheck Protection Program loans, totaling $10.7 billion, to cover their employees’ wages and other expenses, like rent and utilities. These loans have benefitted more than 1.3 million employees nationwide.

Beyond the pandemic, the killing of George Floyd – just miles from the U.S. Bank headquarters in Minneapolis – and subsequent civil unrest nationwide “brought much-needed attention to issues regarding systemic racism,” Global Finance said. U.S. Bank was among the banks that “stepped up and dedicated funds to often-overlooked communities, including minority-owned businesses.”

Global Finance noted that we are rebuilding locations that were damaged or destroyed during the unrest that followed Floyd’s death, and that we pledged to double partnerships with Black-owned suppliers within 12 months. These efforts are part of U.S. Bank Access Commitment, our long-term approach to help build wealth while redefining how we serve diverse communities and provide more opportunities for diverse employees. 

Global Finance also praised our digital investments and innovations as more customers have embraced digital banking during the pandemic. During our April earnings call, U.S. Bank leaders said 80 percent of all customer transactions are now through our website and app.

“This recognition is a tribute to our colleagues who have worked tirelessly to achieve our purpose – powering the potential of our customers and our communities,” said Tim Welsh, vice chair of Consumer and Business Banking at U.S. Bank. “Our teams did an amazing job of navigating the challenges of the past year and have emerged stronger than before. While the pace of innovation keeps accelerating, our focus on powering the potential of our customers ensure that we will continue to provide best-in-class products and services that are safe, simple and convenient.”

Global Finance based the rankings on input from industry analysts, corporate executives and technology experts. The criteria included financial strength and safety, knowledge of local conditions and customers, and product innovation, among others.

“The winners are not always the biggest, but rather the best: those with qualities that companies should look for when choosing a provider,” Global Finance said.

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