SINGAPORE – Customers across Asia Pacific are choosing their favorite bank as banks strive to meet consumer expectations in a rapidly changing environment.
After a long period of high inflation and interest rates, the region’s banks are beginning to follow the global trend toward lower interest rates. As generative artificial intelligence gains traction globally, they are also faced with technological innovations that have the potential to transform the industry.
Against this backdrop, CNBC and market research firm politician Surveyed 22,000 individuals with checking or savings accounts in 14 major economies. The following report is the first of its kind and is designed to highlight the banks that best meet the needs of consumers in their respective markets.
In the survey, participants rated their overall satisfaction with a bank and whether they would recommend the bank to others. They also rated each 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 includes banks that meet the criteria described in the report.
See below to see which banks in your area make the list.
Australia
| 1 | ING |
| 2 | australian bank |
| 3 | westpac bank |
| 4 | union bank |
| 5 | national bank |
| 6 | Alex Banks |
| 7 | Newcastle Permanent Building Society |
| 8 | People’s Choice Credit Union |
| 9 | beyond banks |
| 10 | I |
| 11 | Sankop |
| 12 | my state bank |
| 13 | australian military bank |
| 14 | Community First Bank |
| 15 | Heritage Bank |
source: CNBC and Politicians
ABN AMRO ING Stand out from the fierce competition in Australia. As in most economies, Australians value trust above all and care less about the financial advice they receive.
China
| 1 | China Merchants Bank |
| 2 | Bank of China |
| 3 | ICBC |
| 4 | HSBC |
| 5 | China Construction Bank |
| 6 | China Postal Savings Bank |
| 7 | China Minsheng Bank |
| 8 | Standard Chartered Bank |
| 9 | Shanghai Pudong Development Bank |
| 10 | Bank of Communications |
| 11 | Agricultural Bank of China |
| 12 | UBS (China) Co., Ltd. |
| 13 | JPMorgan Chase Bank (China) |
| 14 | China Everbright Bank |
| 15 | Ping An Bank |
| 16 | DBS Bank (China) |
| number 17 | Suzhou Bank |
| 18 | Bank of Jiangsu |
| No. 19 | Chongqing Rural Commercial Bank |
| 20 | Hang Seng Bank |
| twenty one | Hubei Rural Credit Union |
| twenty two | Huishang Bank |
| twenty three | East West Bank |
| twenty four | WeBank |
| 25 | Hankou Bank (HKB) |
source: CNBC and Politicians
China Merchants BankCompanies listed in both Shanghai and Hong Kong beat domestic and foreign companies to take the top spot in mainland China.
Hongkong
| 1 | China Construction Bank |
| 2 | China Minsheng Bank |
| 3 | ICBC |
| 4 | Shanghai Pudong Development Bank |
| 5 | China Everbright Bank |
| 6 | Bank of Communications |
| 7 | HSBC |
| 8 | annual general meeting |
| 9 | Levy Bank |
| 10 | China Merchants Bank |
source: CNBC and Politicians
China Construction BankAs one of China’s four major state-owned banking institutions, Bank of China was ranked the number one bank, surpassing foreign banks such as HSBC.
India
| 1 | ICICI Bank of India |
| 2 | HDFC Bank |
| 3 | axis bank |
| 4 | Kotak Mahindra Bank |
| 5 | state bank of india |
| 6 | HSBC |
| 7 | Paytm payment bank |
| 8 | Standard Chartered Bank |
| 9 | Commonwealth Bank |
| 10 | IndusInd Bank |
| 11 | united bank of india |
| 12 | karnataka bank |
| 13 | punjab national bank |
| 14 | bank of baroda |
| 15 | pandan bank |
| 16 | fincare |
| number 17 | DSCB |
| 18 | kerala gramin bank |
| No. 19 | Fino Payment Bank |
| 20 | Asia Pacific Petroleum Corporation |
| twenty one | punjab gramin bank |
| twenty two | IDFC First Bank |
| twenty three | UCO Bank |
| twenty four | royal bank |
| 25 | new india bank |
source: CNBC and Politicians
Industrial Credit Investment Bank of India, One of India’s leading private banks remains the country’s bank of choice despite stiff competition from most local banks.
Indonesia
| 1 | Bank of Central Asia |
| 2 | bank mandiri |
| 3 | sea bank |
| 4 | Jago |
| 5 | Raya Bank |
| 6 | Bank Negara Indonesia |
| 7 | UOB |
| 8 | parmata bank |
| 9 | Simbu Nyaga |
| 10 | DBS Bank |
| 11 | Bank Rakyat Indonesia (BRI) |
| 12 | BNC |
| 13 | sharia bank |
| 14 | genius |
| 15 | BCA Shariah |
| 16 | HSBC |
| number 17 | Development Bureau DIY |
| 18 | Aceh Bank |
| No. 19 | Standard Chartered Bank |
| 20 | Samsel Babel Bank |
source: CNBC and Politicians
Bank of Central AsiaIndonesia’s largest private commercial bank beat its rivals to take the top spot. Customers value both trust and digital services in the rankings.
Japan
| 1 | SBI Submit Internet Banking |
| 2 | Rakuten Bank |
| 3 | sony bank |
| 4 | AEON Bank |
| 5 | All from branch banks |
| 6 | Alipay Bank |
| 7 | Sumitomo Mitsui Banking Corporation |
| 8 | Ikeda Senshu Bank |
| 9 | Eighteen Myth Bank |
| 10 | your bank |
| 11 | Ehime Bank |
| 12 | Japan Post Bank |
| 13 | My bank |
| 14 | Kyushu Labor Bank |
| 15 | Hamamatsu Iwata Bank of Japan |
| 16 | Keiyo Bank |
| number 17 | Fukuoka Bank |
| 18 | Shinsei Bank |
| No. 19 | west nippon city bank |
| 20 | Aozora Bank |
| twenty one | Saitama Resona Bank |
| twenty two | Mitsubishi UFJ Bank |
| twenty three | Rosen Bank |
| twenty four | Gunma Bank |
| 25 | Eighty Two Bank |
| 26 | Wing Hing Bank |
| 27 | clear bank |
| 28 | tokyo star bank |
| 29 | Bank of Okinawa |
| 30 | Kyoto Central Bank of Japan |
| 31 | abukuma credit bank |
| 32 | north pacific bank |
| 33 | Ogaki Kyoritsu Bank |
| 34 | Tottori Bank |
| 35 | Bank of Kyoto |
source: CNBC and Politicians
SBI Submit Internet Banking, One Japanese company has managed to beat out other domestic banks. Japanese citizens regard trust as the most important criterion.
Malaysia
| 1 | maybank |
| 2 | Standard Chartered Bank |
| 3 | maylay islamic bank |
| 4 | HSBC |
| 5 | industrial islamic bank |
| 6 | islamic bank |
| 7 | Malaysian Islamic Banking Group |
| 8 | OCBC Bank |
| 9 | UOB |
| 10 | Hong Leong Islamic Bank |
source: CNBC and Politicians
maybank, The bank is Malaysia’s largest bank by market capitalization and is the bank of choice for customers competing with domestic and foreign banks.
New Zealand
| 1 | bank of new zealand |
| 2 | ASB bank |
| 3 | cooperate Bank |
| 4 | New Oriental Bank |
| 5 | bank of new zealand |
source: CNBC and Politicians
Bank of New Zealand, one of the country’s four largest banks, topped the list among consumers who also ranked trust as the most important criterion. In some economies, such as New Zealand, where there are fewer competitors and the size of the banking market varies, only five banks make the list.
the Philippines
| 1 | philippine national bank |
| 2 | Union Bank (Philippines) |
| 3 | maya bank |
| 4 | OF bank |
| 5 | UnionPay Digital Bank |
| 6 | UNO digital bank |
| 7 | Cathay Bank |
| 8 | national bank |
| 9 | metropolitan bank |
| 10 | BPI |
source: CNBC and Politicians
Philippine National Bank, One of the country’s largest banks earned top rankings against competition mainly from local banks.
Singapore
| 1 | DBS Bank |
| 2 | HSBC |
| 3 | Citibank |
| 4 | bank of singapore |
| 5 | UOB |
source: CNBC and Politicians
Singapore’s DBS Bank Defeat domestic counterparts and secure the top spot in the city-state. Due to the smaller market size and fewer banking competitors, only five make the list.
South Korea
| 1 | Toss Bank |
| 2 | cocoa bank |
| 3 | Kwangju Bank |
| 4 | kasikornbank |
| 5 | Jeonbuk Bank |
| 6 | KB Kookmin Bank |
| 7 | korea industrial bank |
| 8 | DGB Daegu Bank |
| 9 | BNK Busan Bank |
| 10 | Korea Exchange Bank Hana Bank |
source: CNBC and Politicians
Trouble with the bank, A South Korea-based online bank has successfully fended off domestic competition to become the country’s largest lender.
Taiwan
| 1 | Yushan Finance |
| 2 | Wing Fung Bank |
| 3 | Standard Chartered Bank |
| 4 | china trust commercial bank |
| 5 | Taipei Fubon Bank |
| 6 | Taishin International Bank |
| 7 | HSBC |
| 8 | Rakuten International Commercial Bank |
| 9 | Cathay Financial |
| 10 | Mega International Commercial Bank |
source: CNBC and Politicians
Taiwanese Yushan Finance, Based in Taipei, it earned the top ranking because its clients focus on trust rather than financial advice.
Thailand
| 1 | kasikornbank |
| 2 | siam commercial bank |
| 3 | Ayutthaya Bank |
| 4 | UOB |
| 5 | Thai King Bank |
source: CNBC and Politicians
Kasikornbank, The second largest bank in Thailand and among the best in the country. Only five banks made the list due to fewer competitors and varying sizes of banking markets.
Vietnam
| 1 | Technology Bank |
| 2 | vietnam commercial bank |
| 3 | BIDV |
| 4 | military commercial joint stock bank |
| 5 | ACB |
| 6 | vietnam bank |
| 7 | VIB |
| 8 | TP Bank |
| 9 | sacom bank |
| 10 | Bank Vice President |
| 11 | BV Bank |
| 12 | Shinhan Bank |
| 13 | south east asia bank |
| 14 | HD bank |
| 15 | ocean bank |
source: CNBC and Politicians
Vietnam Private Lenders Technology Bank is the first choice for customers in the country, with trust once again emerging as a key factor for survey respondents.
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