SBI is India’s Most Trusted Bank As Per TRA Brand Trust Report

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    The recent events in the banking sector have led to the downturn of faith from the customer's point of view. Currently, the banking sector is witnessing a curvy phase, but the TRA Brand Trust Report of 2018, reveals that the State Bank of India (SBI) has topped the chart as the most trusted bank in terms of both public and the private sector in the country. The ICICI bank has ranked the chart in terms of private sector banks in India.

    SBI is India’s Most Trusted Bank As Per TRA Brand Trust Report

    "This year, State Bank of India tops the chart of BFSI (Banking and Financial Services Institutions) super-category despite seeing a dip in its overall brand trust index rankings from 13th in 2017 to 21st this year," the report said.

    It further said: "The leader among the private banks is ICICI Bank, rising nine ranks in the overall ranking." In the overall ranking comparing brands from across sectors, ICICI Bank ranked 38th in 2018.

    The report clarified that the present survey was carried out during November - January and it did not take into consideration the recent reports relating to the irregularities which involve ICICI Bank.

    It further stated that it observed that the 51 brands from the BFSI sector get listed among the 1,000 most trusted brands in the country this year, as compared to a listing of 23 brands during 2017.

    "The 19 new brands entering the list show that the general trust in the BFSI sector is rising," the report said.

    The Punjab National Bank, which witnessed a multi-crore fraud while granting the loan to Jeweller, Nirav Modi during February, ranks sixth among the public sector banks (PSB) and its overall ranking stands at the 297th position as per the survey.

    As the survey was conducted during the period between November - January 2017, the survey did not take into consideration the people's opinion after the scam was exposed.


    "The fraud might be a factor in the next year's report for PNB. However, people do not really blame the bank for that, rather the accused individuals are the ones largely blamed", said N Chandramouli, CEO of TRA.

    Read more about: sbi
    Story first published: Thursday, April 19, 2018, 13:44 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more