By PBN Staff
NEW YORK - Bank of America Corp. earned the No. 5 spot on MarketWatch’s list of the 10 companies with the worst reputations.
The financial information and business news website compiled their results from Harris Interactive’s 14th annual Reputation Quotient survey, which rated 60 large American companies based on key characteristics including: product quality, social responsibility and treatment of employees.
Bank of America Corp. was not the only financial institution with a bad reputation. Also on the list were: American International Group Inc. (No. 1), Goldman Sachs Group Inc. (No. 2), Citigroup Inc. (No. 6), J.P. Morgan Chase & Co. (No. 8) and Wells Fargo & Co. (No. 9).
“Like most financial services companies, Bank of America Corp. is still reeling from the damage to its reputation caused by the bank’s role in the financial crisis,” said MarketWatch, adding that the company saw improvement in its reputation during 2012.
Bank of America had a reputation score of 55.85 for 2013, an improvement on its 2012 score of 49.85.
“In 2012, the financial services giant ranked third from the bottom, beating out only Goldman Sachs and AIG and receiving a “critical” reputational ranking,” said MarketWatch.
The Harris Interactive report noted that Bank of America improved in all six categories during 2012 and that the bank’s reputation “has had a tailwind on its way back up.”
The other companies ranked among the 10 worst reputations were: oil-field services company Halliburton Co. (No. 3), American Airlines (No. 4), BP PLC (No. 7) and Comcast Corp. (No. 10).