HDFC Bank tops Forbes’ list of Indian banks 2019

Forbes has recently compiled a first-ever list of the World’s Best Bank 2019 in terms of customer services and technological advancements. The private lender, HDFC Bank, was ranked at the top of the Forbes list of Indian banks, followed by ICICI Bank, DBS, Kotak Mahindra Bank and IDFC Bank. However, India’s largest public sector bank, the State Bank of India (SBI), did not even make it to top 10 of the list and was ranked 11th by the customers.Forbes had partnered with Statista, a market research company, to measure the best banks in 23 countries. Interestingly, this survey ignored any financial performances like P&L statements and balance sheets in favour of a customer’s opinion. The survey compiled data from around 40,000 customers around the world for their opinions on their banking relationships. The banks were rated on the basis of 5 key attributes – trust, digital services, financial advice and fees.