This Bank Beats ICICI, HDFC To Become India’s Best Bank: Full List Of Best Banks In India
DBS Bank has taken the top position in a list of the best banks in India, compiled by Forbes in partnership with market research firm Statista.
This is DBS Bank’s second consecutive win out of 30 domestic and international banks operating in India.
Rankings Of Other Indian Banks
Other contenders in the list include Kerala-based CSB Bank at number 2, followed consecutively by ICICI Bank, HDFC Bank, Kotak Mahindra Bank, Axis Bank and State Bank of India.
Some interesting entrants include India Post Payments Bank at number 11 and Paytm Payments Banks at number 16 in the list.
The top cooperative bank in the list is Andhra Pradesh State Co-operative Bank at number 14.
At the last position is Karur, Tamil Nadu-headquartered Karur Vysya Bank at number 30.
The full list can be found here.
How Was The Survey Done?
In order to rank the banks in the list, over 43,000 banking customers worldwide were surveyed on their relationships with their bank.
Each bank was judged on the basis of general satisfaction, trust, digital services, financial advice, and fees.
Forbes said in a statement that the list has a record number of winners this year, which reflects a rise in customer confidence in their banks.
Surojit Shome, Managing Director and CEO, DBS Bank India, expressed his gratitude and said that they are humbled and proud to be the recipient of this honor.
He spoke about how the bank was customer-focused, resilient and displayed a “strong sense of purpose” while battling the pandemic.
Statista, which helped compile the list, said that DBS India received the pole position due to its excellence in “multiple sub-dimensions” such as general satisfaction and customer recommendation, both of which are positive.
The bank was also recognized by Asiamoney to be ‘India’s Best International Bank 2021’.
Trade publication Global Finance last year named DBS the ‘Safest Bank in Asia’ for the 12th time in a row and ‘Best Bank in the World’ for the third time.
Euromoney, a top financial publication, conferred DBS the honor of being the ‘World’s Best Bank’ in 2019.
DBS In India
DBS India has a history of 26 years and has been steadily growing by building up its small and medium-sized enterprise business and consumer lending operations, thereby becoming a full-service bank.
Its presence in India was emboldened with the amalgamation of Lakshmi Vilas Bank and DBS Bank India Limited (DBIL) in November 2020.
Its network presently comprises 600 branches across 19 states in India.