Forbes, a top business publication has released its ranking of the world’s best banks. The global banking ranking by Forbes is done in partnership with a market research firm Statista. This ranking is Forbes first attempt at ranking the global banking industry apart from its regular ranking of the United States with its 100 largest publicly-traded US banks which it publishes annually.

The pack of the World’s Best Banks according to Forbes’ ranking is being led by the ING Group, a Dutch banking and financial services giant. The banking group was highly rated in 8 of the 23 countries which the survey covered.

Following the ING Group closely is Citibank which presented a strong showing in six out of the 23 countries that were surveyed. Other global banks that came up strong on the list are Asian-Pacific Bank, Lloyds Bank, First Direct, Halifax, Volkswagen Bank, UniCredit, Société Générale, ICBC and First Interstate Bank.

Africa was represented on the ranking by 5 South African banks namely CAPITEC, FNB First National Bank, Bidvest Bank, Investec and Nedbank.

In coming up with its global banking ranking among the factors that were considered is the current impact of technology in finance and banking which has changed the behaviour of consumers and how they want to relate with their bank and get financial services.

According to Forbes, the rating of the banks was done on the basis of digital services, fees, financial advice, trust and general customer satisfaction.

To come up with the global World’s Best Banks ranking, the market research firm Statista surveyed more than 40,000 banking customers around the world in 23 countries. Some of the countries where banking customers were surveyed include Germany, France, India, United States, Brazil, South Africa, Switzerland, Australia, China, Israel, Austria, Indonesia, Japan, Canada, Russia and Mexico.

No Nigerian bank made the list of the World’s Best Banks according to Forbes’ ranking and Nigerian banking customers did not constitute part of the banking survey conducted for by for the ranking.

This can serve as a wake-up call to the Nigerian banking industry, professionals and the regulator to step up their game on the industry.

https://www.nairaenterprise.com/2019/03/20/%ef%bb%bfforbes-releases-its-ranking-of-the-worlds-best-banks-with-no-nigerian-bank-making-the-pack/

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