SOURCE: Amplicate

Amplicate

November 01, 2011 10:13 ET

Social Media Users Hate Banks but Really Hate Bank of America, According to Amplicate

New Report Finds Intense Hatred for Bank of America and Other Banks on Social Media

NEW YORK, NY--(Marketwire - Nov 1, 2011) - Social media users posted many more negative opinions than positive about Bank of America (BAC) and other large banks in the US and Europe over the last 12 months, according to a new social media analytics report from Amplicate.

The report found that 87% of all opinions on social media about Bank of America were negative over the last 12 months. Other banks did not perform much better: 83% of opinions about major banks in the US and Europe were negative over the 12 months, with only Citigroup avoiding complete loathing. Citigroup was the most loved major bank on social media over the last 12 months, with 39% of opinions expressing something approaching love for the US banking giant (http://bit.ly/sc4lV3).

ING, on the other hand, was the most hated bank on social media. 97% of opinions on the Dutch bank were negative over the 12 months, with Dutch social media users accounting for nearly all the hatred. Although ING was the most hated in percentage terms, many more negative opinions were posted about Bank of America, which was by far the most talked about bank on social media over the 12 months. 40% of all opinions about major banks in the US and Europe in the last 12 months were comments on the American bank.

Hatred for Bank of America reached its height in December 2010, when social media users objected strongly to the bank's decision to force the closure of numerous websites expressing loathing for the bank. Only 8% of comments on Bank of America were positive in the month.

Amplicate's new report 'Public Opinion on Bank of America and Banks in the US and Europe on Social Media' (http://bit.ly/tko9Pp) reveals that, although haters of banks on social media are far more numerous than fans of banks, the fans of banks are far more influential. The average fan of banks had twice as many followers or friends as the hater of banks over the last 12 months.

Amplicate's new report is one of its new company focus social analytics reports. Amplicate's company focus reports offer a complete picture of what people are saying about a company and its industry.

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