Learn Banking: HDFC Bank Is Declared the Top Brand

25 Dec, 2019 Divesh Mishra

Kantar Millward Brown and Nielsen are two top companies in the world doing market and consumer behaviour research.

Every year Kantar, since 2014 has been bringing out a list of the top Indian brands after extensive research under a methodology which is universally accepted.

For the year 2018, according to this study, HDFC Bank is placed at the No 1 position. It has improved its position by 21% marks over 2017. HDFC Bank fully deserves this ranking as is evident from any random survey or finding of a local / international research bureau.

At the second position is LIC while TCS occupies the third position. Both LIC and TCS are new entries in the list.

Apart from LIC, the list occupies four banks (HDFC Bank, SBI, Kotak Bank and ICICI Bank) in its top ten numbering which shows that the Indian public still imposes a lot of trust in its financial institutions.

However, a disturbing factor is that while HDFC Bank, the top position holder obtains a score of  21,679, SBI at 5th position scores 7,860 and Jio at the 10th position scores a low 4,090 marks. This shows the dearth of reliable and trusted brands in India. One expects tough competition at least amongst the top 10 brands in the country.

This also teaches a lesson to the Indian corporate world along with throwing a challenge. The lesson is that the trust amongst the customers should start getting built at the ground level first. The top layer alone being trustworthy is not enough: they are supposed to be so in any case. A brand is reflection of the service quality, the product robustness and the timely delivery by the first level of interaction: the ground or the branch staff.