Thursday, June 18, 2009

SAFEST AND MOST TRUSTED BANKS IN INDIA

Banks have always placed lot of emphasis on trust factor in order to win over the customers confidence. People park their money with banks and as such would always prefer to deposit money in bank which they see as more stable ,trustworthy and fundamentally sound. As per the Brand Equity Survey conducted for most trusted brands in India, the results in banking space threw no major surprises.

The top 2 slots were taken by government owned PSU banks viz. State Bank Of India and Bank Of India. The third place was taken by ICICI Bank, which to my mind is a bit of surprise considering the numerous incidents of near run on bank, fuelled by rumours of insolvency , in the past. LAst year too there was rumour afloat that ICICI bank was near bankruptcy due to its vast exposure in mortgage securities in the west. This had led to situation of uncertainty among the banks customers. Infact, the situation was rescued only after both RBI governor and Finance minister making a statement in favor of ICICI bank's stability. The fourth spot was held by one of the most respected and profitable banks in private sector space in India, HDFC Bank.

Government owned banks are more trusted as government is the primary owner of these banks and the chances of these banks going bust is perceived much lower as against the private banks. Last year when most of the banks were struggling to get deposits due to liquidity crunch , SBI was having a field day. It managed to attract deposits daily to the tune of Rs 1000 crores /day, a feat which clearly established the fact that in difficult times, money takes a flight to safety and SBI being perceived as the most trusted and safe bank, benefited from it.
The complete list of most trusted banks by Indian consumers are
1. State Bank of India
2. Bank Of India
3. ICICI Bank
4. HDFC Bank
5. Central Bank Of India
6. Bank of Baroda
7. Punjab National Bank
8. Axis Bank
9. Kotak Bank
10. Citibank
11. Standard Chartered Bank
12. HSBC Bank


1 comment:

  1. IAM 16 YEAR OLD PLS SUGGEST ME A BANK WHICH WILL OFFER ATM CARD AND GOOD OFFERS...........

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