SINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment.After a prolonged period of high inflation — and interest rates — banks in the region are starting to navigate the global trend of lower rates. They’re also facing technological innovation that has the potential to transform the sector, as generative AI gains traction around the world.Against this backdrop, CNBC and market research firm Statista surveyed 22,000 individuals with a checking or savings account in 14 major economies. The report below — the first of its kind — is designed to highlight the banks that best meet consumer needs in their respective markets.For the survey, participants evaluated their overall satisfaction with a bank, and whether they would recommend it to others. They also rated each based on five criteria: trust, terms and conditions (such as fees and rates), customer service, digital services and quality of financial advice. Read the full methodology here. The ranking only included banks that qualified according to the criteria described in the report.See below to see which banks made the list in your location.Australia1ING Group2Bank Australia3Westpac4Ubank5NAB6Alex Bank7Newcastle Permanent Building Society8People’s Choice Credit Union9Beyond Bank10ME11Suncorp12MyState Bank13Australian Military Bank14Community First bank15Heritage BankSource: CNBC & StatistaDutch bank ING came out top in Australia, against a sea of local competition. Like most economies, Australians valued trust the most and were less concerned on the financial advice they were given.China1China Merchants Bank2Bank of China3ICBC4HSBC5China Construction Bank6Postal Savings Bank of China7China Minsheng Bank8Standard Chartered9SPD Bank10Bank of Communications11Agricultural Bank of China12UBS (China) Limited13JPMorgan Chase Bank (China)14China Everbright Bank15Ping An Bank16DBS Bank (China)17Bank of Suzhou18Bank of Jiangsu19Chongqing Rural Commercial Bank20Hang Seng Bank21Hubei Rural Credit Union Association22Huishang Bank23East West Bank24WeBank25Hankou Bank (HKB)Source: CNBC & StatistaChina Merchants Bank, listed in both Shanghai and Hong Kong, earned the top spot in mainland China beating both domestic and foreign players.Hong Kong1China Construction Bank2China Minsheng Bank3ICBC4SPD Bank5China Everbright Bank6Bank of Communication7HSBC8CGB9Livi Bank10China Merchants BankSource: CNBC & StatistaChina Construction Bank, one of China’s four major state-owned banking institutions, was ranked the top lender over foreign players like HSBC.India1ICICI Bank2HDFC Bank3Axis Bank4Kotak Mahindra Bank5State Bank of India6HSBC7Paytm Payments Bank8Standard Chartered9Federal Bank10IndusInd Bank11Union Bank of India12Karnataka Bank13Punjab National Bank14Bank of Baroda15Bandhan Bank16Fincare17DSCB18Kerala Gramin Bank19Fino Payments Bank 20APCOB21Punjab Gramin Bank22IDFC First Bank23UCO Bank24RBLBank25New India BankSource: CNBC & StatistaICICI bank, a leading private sector bank in India, was the top pick in the country despite strong competition from mostly local lenders.Indonesia 1Bank Central Asia2Bank Mandiri3Sea Bank4Jago5Raya Bank6Bank Negara Indonesia7United Overseas Ba …
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[mwai_chat context=”Let’s have a discussion about this article:nnSINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment.After a prolonged period of high inflation — and interest rates — banks in the region are starting to navigate the global trend of lower rates. They’re also facing technological innovation that has the potential to transform the sector, as generative AI gains traction around the world.Against this backdrop, CNBC and market research firm Statista surveyed 22,000 individuals with a checking or savings account in 14 major economies. The report below — the first of its kind — is designed to highlight the banks that best meet consumer needs in their respective markets.For the survey, participants evaluated their overall satisfaction with a bank, and whether they would recommend it to others. They also rated each based on five criteria: trust, terms and conditions (such as fees and rates), customer service, digital services and quality of financial advice. Read the full methodology here. The ranking only included banks that qualified according to the criteria described in the report.See below to see which banks made the list in your location.Australia1ING Group2Bank Australia3Westpac4Ubank5NAB6Alex Bank7Newcastle Permanent Building Society8People’s Choice Credit Union9Beyond Bank10ME11Suncorp12MyState Bank13Australian Military Bank14Community First bank15Heritage BankSource: CNBC & StatistaDutch bank ING came out top in Australia, against a sea of local competition. Like most economies, Australians valued trust the most and were less concerned on the financial advice they were given.China1China Merchants Bank2Bank of China3ICBC4HSBC5China Construction Bank6Postal Savings Bank of China7China Minsheng Bank8Standard Chartered9SPD Bank10Bank of Communications11Agricultural Bank of China12UBS (China) Limited13JPMorgan Chase Bank (China)14China Everbright Bank15Ping An Bank16DBS Bank (China)17Bank of Suzhou18Bank of Jiangsu19Chongqing Rural Commercial Bank20Hang Seng Bank21Hubei Rural Credit Union Association22Huishang Bank23East West Bank24WeBank25Hankou Bank (HKB)Source: CNBC & StatistaChina Merchants Bank, listed in both Shanghai and Hong Kong, earned the top spot in mainland China beating both domestic and foreign players.Hong Kong1China Construction Bank2China Minsheng Bank3ICBC4SPD Bank5China Everbright Bank6Bank of Communication7HSBC8CGB9Livi Bank10China Merchants BankSource: CNBC & StatistaChina Construction Bank, one of China’s four major state-owned banking institutions, was ranked the top lender over foreign players like HSBC.India1ICICI Bank2HDFC Bank3Axis Bank4Kotak Mahindra Bank5State Bank of India6HSBC7Paytm Payments Bank8Standard Chartered9Federal Bank10IndusInd Bank11Union Bank of India12Karnataka Bank13Punjab National Bank14Bank of Baroda15Bandhan Bank16Fincare17DSCB18Kerala Gramin Bank19Fino Payments Bank 20APCOB21Punjab Gramin Bank22IDFC First Bank23UCO Bank24RBLBank25New India BankSource: CNBC & StatistaICICI bank, a leading private sector bank in India, was the top pick in the country despite strong competition from mostly local lenders.Indonesia 1Bank Central Asia2Bank Mandiri3Sea Bank4Jago5Raya Bank6Bank Negara Indonesia7United Overseas Ba …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
