HDFC Bank ranked No. 1 in India by Forbes, SBI not in Top 10
GUWAHATI: HDFC Bank, headquartered in Mumbai has been ranked number 1 in India by the customers, as per Forbes World's Best Bank survey.
Apart from HDFC Bank, it was another private-owned lender ICICI Bank which took the second spot in Forbes list for India. At third rank was DBS, followed by Kotak Mahindra Bank and IDFC Bank taking the fourth and fifth spot.
Additionally, Syndicate Bank, PNB, Allahabad Bank, Vijaya Bank and Axis Bank also found a spot in the top 10.
However, the largest state-owned lender SBI did not even make it to top 10 of Forbes list. The bank was ranked 11th by customers.
It was Canara Bank that was ranked at the last spot, which is the 30th spot, by the customers.
In the first edition of this survey, Forbes has compiled a list of the best banks in India by taking customer-centric metrics into consideration.
The unique survey did not measure financial performance, ignoring balance sheets and P&L statements in favor of customer opinion.
Forbes partnered with market research firm Statista to measure the best banks in 23 countries. Statista surveyed more than 40,000 customers around the globe for their opinions on their current and former banking relationships. Between 5 and 60 banks were identified as top banks in each country, based on the total evaluations collected, the number of banks in the specific country and the scores achieved.