HSBC, Standard Chartered and Citibank have listed top in a customer satisfaction index in banking in India. According to the study conducted by Indian Customer Satisfaction Index (ICSI), HSBC tops the list of top 12 large banks with a customer satisfaction score of 76, Standard Chartered with 74 and Citibank with 73 score. The list is followed by Kotak Mahindra Bank with 71 scores, ICICI Bank with 70 and Bank of Baroda, Axis Bank and HDFC Bank with 68 score each.
The parameters on which customers rated their banks include ease of transaction execution, competitiveness of interest rates, ease of understanding information on products and services, number of branches and ATMs and behaviour of staff. However, the average customer satisfaction score of Indian banks is 69, much lower than that of its counterparts in Colombia (80), US (76), UK (76), South Africa (76) and South Korea (74). According to the study, 25% of Indian respondents were dissatisfied with their banks’ complaints handling, compared to 15% in the US and 2% in Singapore.
