Portal : Economic Times Wealth
Headline :Indian banks low on customer satisfaction: ICSI study
Date : 04 April 2016
Edition : Print & Online
Foreign banks HSBC, Standard Chartered and Citibank have outperformed their Indian public and private sector peers in customer satisfaction, a study conducted by the Indian Customer Satisfaction Index (ICSI) has found. HSBC tops the list of 12 large banks in India with a customer satisfaction score of 76, with Standard Chartered and Citibank close on its heels at 74 and 73 respectively.
Kotak Mahindra (71), ranked fourth, leads the Indian banks, followed by ICICI Bank (70), Bank of Baroda (68), Axis Bank (68) and HDFC Bank (68). Interestingly, the country's largest bank, State Bank of India (SBI), with a score of 62, ranks lowest. The survey, carried out in 2015-2016 by Delhi-based firm Hexagon Consulting and the US-based American Customer Satisfaction Index (ACSI), polled close to 7,000 customers of these 12 banks.