Tag Archives: State Bank Of India

ICICI and HDFC Bank knock trust of reigning giant SBI

Mumbai: 9th March, 2016: The Indian economy has struggled to gain the trust of customers lost by the words of policymakers that have not translated into action of borrowers. Despite this there is a sense of optimism that stems from the 23 out of 27 banks that have risen in trust ranks according to The Brand Trust Report 2016 launched by TRA (formerly Trust Research Advisory). The Indian multinational banking and financial services company ICICI Bank (All-India Rank 10) tops the list for the first time as India’s Most Trusted Bank. ICICI Bank leaps 38 ranks from its previous years’ ranking to beat the government-owned corporation – State Bank of India (All-India Rank 23) who reigned this sector for the past five years. Another astonishing fact is the giant leap of 329 ranks taken by HDFC Bank (All-India Rank 12), making it the 2nd Most Trusted bank and listing it in the All-India Top 20 Most Trusted Brands. A bank to watch out for is IDBI Bank with its consistently rising trust ranking every year from All-India Rank 208 in 2011 to All-India Rank 63 in 2016.

Commenting on this, N. Chandramouli, CEO, TRA stated, “This rising trust in banks is a lead indicator for business momentum. The banking sector has been trying to connect with the interests of their customers in order to garner trust. In this the private banks have gained great momentum over the State – owned SBI. On the contrary, SBI’s comparatively lower ranking this year calls for the bank to strengthen their communication strategy and get its brand act together. The ripple effects of this could help the PSU giant revitalize its trust.”

The other banks that feature among the top 10 banks are Kotak Mahindra Bank (All-India Rank 66), Yes Bank (All-India Rank 99), HSBC (All-India Rank 106), Axis Bank (All-India Rank 113), Punjab National Bank (All-India Rank 122) and Bank of India (All-India Rank 172). Whereas Axis Bank (All-India Rank 113), UCO Bank (All-India Rank 554), Union Bank of India (All-India Rank 643) and Standard Chartered (All-India Rank 946) have fallen in their All-India Rank.

These revelations are the result of The Brand Trust Report 2016, the sixth in its series. It is the result of comprehensive primary research conducted on the proprietary 61-Attribute Trust Matrix of TRA (formerly known as Trust Research Advisory). This year’s study involved 18,000 hours of fieldwork covering 2500 consumer-influencers across 16 cities in India and generated 6 million data-points and 20,000 unique brands from which the top 1000 brands have been listed in this year’s report. The 200 page, hardbound report is available for Rs. 14000/-.

About TRA (formerly Trust Research Advisory):

TRA, a Comniscient Group company, is an actionable insights and brand intelligence company dedicated to understanding and analyzing stakeholder behaviour through two globally acclaimed, proprietary matrices of Brand Trust and Brand Attractiveness. TRA was conceived in 2008 to decipher, analyze and measure Brand Trust, to make it universally understood and easily applied. TRA conducts primary research with consumers and other stakeholders to assist business decisions and give brands insights on solutions to consumer behaviour. TRA provides Competitive Intelligence Reports mined from its 15 million data-points on brand intangibles of 20,000 brands, and also undertakes custom-made studies for brands. TRA is the publisher of The Brand Trust Report, India’s Most Attractive Brands & India’s Most Trusted Educational Institutes.

About The Brand Trust Report 2016:

The Brand Trust Report 2016 (ISBN: 978-81-920823-9-4), the sixth in the series, is the result of a primary research based on the proprietary 61-Attribute Trust Matrix of TRA. This year’s research was conducted among 2500 consumer-influencers across 16 cities, and generated nearly 6 million data points and 20,000 unique brands, making it the most intensive study on Brand Trust across the globe.

 

Bank Ranks BTR 2016 BTR 2015 Rank Diff Brand Name Sub-Category
1 10 48 38 ICICI BANK Bank – Private
2 12 341 329 HDFC BANK Bank – Private
3 23 41 18 STATE BANK OF INDIA Bank – PSU
4 63 64 1 IDBI BANK Bank – PSU
5 66 137 71 KOTAK MAHINDRA BANK Bank – Private
6 99 375 276 YES BANK Bank – Private
7 106 120 14 HSBC Bank – Foreign
8 113 78 -35 AXIS BANK Bank – Private
9 122 439 317 PUNJAB NATIONAL BANK Bank – PSU
10 172 211 39 BANK OF INDIA Bank – PSU
11 194 195 1 BANK OF BARODA Bank – PSU
12 208 574 366 CITIBANK Bank – Foreign
13 213 INDIAN OVERSEAS BANK Bank – PSU
14 313 492 179 CANARA BANK Bank – PSU
15 331 INDIAN BANK Bank – PSU
16 350 KARUR VYSYA BANK Bank – Private
17 554 474 -80 UCO BANK Bank – PSU
18 643 620 -23 UNION BANK OF INDIA Bank – PSU
19 663 VIJAYA BANK Bank – PSU
20 678 UNITED BANK OF INDIA Bank – PSU
21 698 COSMOS BANK Bank – Cooperative
22 801 862 61 DENA BANK Bank – Private
23 801 862 61 DENA BANK Bank – PSU
24 823 ALLAHABAD BANK Bank – PSU
25 877 ORIENTAL BANK Bank – PSU
26 920 PUNJAB AND SIND BANK Bank – PSU
27 946 879 -67 STANDARD CHARTERED Bank – Foreign

 

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Filed under Bank, BFSI Sector, Brand Trust, Licensing, Trust, Uncategorized

LIC is most trusted BFSI brand. SBI tops banks sub-category.

ICICI gets two silvers: ICICI Bank & ICICI Pru Life stand 2nd among Banks and Insurance

India, 23rd January 2012: Life Insurance Corporation (LIC), the country’s biggest insurer, has also emerged as the country’s most trusted brand in the BFSI sector, as per the research conducted by The Brand Trust Report, India Study, 2012. LIC was ranked 8th among 17000 brands studied in the brand and the BFSI category had 70 brands listed. LIC leads the State Bank of India (SBI) ranked 2nd in the BFSI sector by 56% on the Brand Trust Index, Trust Research Advisory’s unique metric for measuring Brand Trust.

State Bank of India is also the Most Trusted Bank and at an All-India rank 19th. ICICI’s flagship brand, ICICI Bank ranked the 2nd most trusted bank in the country among 33 listed. Among insurance brands, ICICI Prudential Life was ranked 2nd after LIC. The Brand Trust Report, India Study, 2012 (BTR 2012), lists India’s 1000 Most Trusted Brands  and is the result of a comprehensive primary research conducted on 61-components of trust – a proprietary tool of Trust Research Advisory. The research is conducted with 2718 ‘influencer’ respondents from 15 cities, generating more than 2 million datapoints from 12000 hours of research.

Among the Banks sub-category, after SBI and ICICI Bank, HSBC comes 3rd, Axis Bank is 4th and IDBI Bank is ranked as the 5th most trusted bank in India. Among Insurance brands, after LIC and ICICI Prudential ranks 3rd, followed by Tata AIG at 4th and Bajaj Allianz ranks 5th most trusted insurance brand in India.

N. Chandramouli, CEO, Trust Research Advisory, marked this preference for State-owned brands in BFSI category and said, “Both LIC and SBI have ranked first and second in the BFSI sector for two years consecutively. Apart from the omnipresence of these two institutions, the sovereign backing is a clear advantage that helps generate greater trust. Two ICICI brands get the trust-vote of India and ICICI Prudential Life Insurance is the 2nd most trusted insurance brand, and ICICI Bank comes second among banks. What is significant is that ICICI Bank is only 18% behind SBI in terms in Brand Trust Index.”

Annexure 1 – Listing of the BFSI sector as per Brand Trust Index


About Trust Research Advisory:

Trust Research Advisory (TRA), a part of the Comniscient Group, is a company dedicated to understanding and simplifying concepts related to Trust. TRA was conceived in 2008 to decipher, analyze and measure Brand Trust, to make it universally understood and easily applied. The organization’s focus areas include Research, Publishing, Trust Training, and Licensing. Trust Research Advisory, is committed to bring forth concepts/ideas to bring out “Trust” in all its manifestations that shall redefine Branding, Marketing Communication and the Behavioural Sciences.

 

About The Brand Trust Report, India Study, 2012:

The Brand Trust Report, India Study, 2012 (ISBN:978-81-920823-1-8), is the result of a primary research based on the proprietary 61-component Trust Matrix. TRA’s Trust Matrix has resulted from several hundred hours of research with sociologists, communication experts and behavioural scientists. This year’s research was conducted among 2718 ‘influencer’ respondents across 15 cities. The study, the most intensive undertaken on Brand Trust across the globe. The study generated nearly 2 million datapoints and 17000 brands and was conducted across 15 cities. Indian Statistical Institute helped create a statistically robust Brand Trust Index which has been used to hierarchically rank India’s brands on the basis of trust. This report is the second in the series initiated in 2011.

 

The BTR lists India’s 1000 Most Trusted Brands nationally. In this, 22 are listed in the Personalities category, and this list is led by Anna Hazare who has surged gaining the nation’s trust ahead of popular personalities like Sachin Tendulkar, Salman Khan, Amitabh Bachchan and Aamir Khan featuring in that order. Among business personalities Ratan Tata is the Most Trusted, followed by Vijay Mallya, Bill Gates and Steve Jobs.

Most Trusted leaders in some other categories are Armani in Branded Fashion, DLF in Construction, NIIT in Education, ONGC in Energy, PVR in Entertainment, Pepsi in F&B, Dabur in Healthcare, Taj Hotels in Hospitality, Google in Internet, ACC in Manufacturing, Thomas Cook in Services, Being Human in Social Sector, Hewlett Packard in Technology, and Air India in Airlines.

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Filed under BFSI Sector, Brand Trust, Trust

Samsung is Chennai’s Most Trusted, followed by Nokia, Sony. Tata down to 4th rank in city.

SBI, Apple, Philips, Puma and Lux see new place among Chennai’s ten most trusted

 Chennai, India, 19th January 2012: India has chosen – the much anticipated results of India’s Most Trusted Brands are out. Nokia and Tata have retained their first and second positions from last year as India’s top two Trusted Brands this year. Sony, the Japanese electronics leader, slipped to fifth position this year, outranked by the two aggressive Korean Chaebols, LG at 3rd position and Samsung at 4th position. The Brand Trust Report, India Study, 2012 (BTR 2012), lists India’s 1000 Most Trusted Brands and was launched in the city today. The report, the result of a comprehensive primary research conducted on 61-components of trust – a proprietary tool of Trust Research Advisory. The research is conducted with 2718 ‘influencer’ respondents from 15 cities, generating more than 2 million data-points from 12000 hours of research.

However, Chennai has a unique mind of its own with five new entrants into the city’s trusted list. Samsung leads the city’s most trusted, followed by two year all India leader Nokia, Sony ranks 3rd and Tata is ranked 4th. Tata has in All-India second rank in the 2011 and 2012 reports. SBI is more trusted in Chennai than elsewhere and it ranks 5th, followed by LG at 6th rank. Apple, Philips, Puma and Lux, make an entry in positions 7th through 10th and are new trust-list entrants for Chennai.

N. Chandramouli, CEO, Trust Research Advisory, elaborated the Chennai difference and said, “The Brand Trust ReportTM ranks brands Trust which can be a proxy for all brands’ experiences. India is a mosaic and South and North, East and West are as different as chutney is to cheddar. Chennai’s and South’s list of ten most trusted shows this stark difference. When brands seek to reach out to stakeholders in India, to succeed they must address these vastly different regional preferences and choices.”

The Southern part of this 15 city study was conducted in Chennai, Bangalore, Hyderabad, Kochi, and Coimbatore which had 782 (29%) of the total respondents.

The Brand Trust Report, India Study, 2012, priced at Rs. 10000 (Rupees Ten Thousand Only), is available across major book stores, online book stores and TRA offices.

About Trust Research Advisory:

Trust Research Advisory (TRA), a part of the Comniscient Group, is a company dedicated to understanding and simplifying concepts related to Trust. TRA was conceived in 2008 to decipher, analyze and measure Brand Trust, to make it universally understood and easily applied. The organization’s focus areas include Research, Publishing, Trust Training, and Licensing. Trust Research Advisory, is committed to bring forth concepts/ideas to bring out “Trust” in all its manifestations that shall redefine Branding, Marketing Communication and the Behavioural Sciences.

 

About The Brand Trust Report, India Study, 2012:

The Brand Trust Report, India Study, 2012 (ISBN:978-81-920823-1-8), is the result of a primary research based on the proprietary 61-component Trust Matrix. TRA’s Trust Matrix has resulted from several hundred hours of research with sociologists, communication experts and behavioural scientists. This year’s research was conducted among 2718 ‘influencer’ respondents across 15 cities. The study, the most intensive undertaken on Brand Trust across the globe. The study generated nearly 2 million datapoints and 17000 brands and was conducted across 15 cities. Indian Statistical Institute helped create a statistically robust Brand Trust Index which has been used to hierarchically rank India’s brands on the basis of trust. This report is the second in the series initiated in 2011.

 

The BTR lists India’s 1000 Most Trusted Brands nationally. In this, 22 are listed in the Personalities category, and this list is led by Anna Hazare who has surged gaining the nation’s trust ahead of popular personalities like Sachin Tendulkar, Salman Khan, Amitabh Bachchan and Aamir Khan featuring in that order. Among business personalities Ratan Tata is the Most Trusted, followed by Vijay Mallya, Bill Gates and Steve Jobs.

Most Trusted leaders in some other categories are Armani in Branded Fashion, DLF in Construction, NIIT in Education, ONGC in Energy, PVR in Entertainment, Pepsi in F&B, Dabur in Healthcare, Taj Hotels in Hospitality, Google in Internet, ACC in Manufacturing, Thomas Cook in Services, Being Human in Social Sector, Hewlett Packard in Technology, and Air India in Airlines.

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