Robinsons Bank, the financial services arm of JG Summit Holdings, has recently been named among the world’s best banks by Forbes magazine.
One of the fastest growing commercial banks in the Philippines in terms of capitalization and asset size, Robinsons Bank joins the prestigious list of 415 banks worldwide – a figure that amounts to a mere 4% of all banks globally – that have emerged as the best of the best in terms of general satisfaction, trust, digital services, customer service, and more.
The list, compiled for the fifth time by Forbes in partnership with the Germany-based consumer insights firm Statista, was based on a global survey of 48,000 banking customers in 32 countries. To be eligible for inclusion, a bank had to be rated by at least 250 customers.
The United States, a country that has more than 4,200 banks, had the most financial institutions on the Forbes list with 75. Representing the Asian region, Japan had the lion’s share of listed banks with 30, followed by 20 from Indonesia, and 15 from China. The Philippines, South Korea, Taiwan, and Vietnam each had 10 banks making the grade. Rounding out the Asian contingent were Malaysia and Singapore with five banks each.
In its online article discussing the list, Forbes stated, “In 2023, banks need more than great rates to attract corporate and individual customers. They must also offer quick, multi-channel service both online and in branches, and use that customer service to earn trust.” It added, “That may be why some top performers on Forbes’ fifth annual list of the World’s Best Banks aren’t necessarily the biggest game in town.”
Parijat Banerjee, global head of business services at LatentView Analytics, stated in the article that another factor driving customer satisfaction in today’s financial markets, especially among Millennial and Gen Z customers, is how banks adopt new digital technology.
This is one of the strengths of Robinsons Bank, which takes pride in its being “the Bank of Choice driven to fulfill your changing needs.” Now ranked 16th in the Philippines in terms of assets with total assets of Php 183.25 billion (as of 31 December 2022, according to the Bangko Sentral ng Pilipinas), Robinsons Bank has vastly improved its digital offerings in recent years.
As a testament to its commitment in this sector, the bank earned the Most Innovative Digital Banking Services (Philippines) award at the Global Economics Awards 2021. Among its digital products and innovations that have earned acclaim include RBank Sign Up, which was named the Omni-Experience Innovator at the IDC DX Awards 2020, the Most Innovative Retail Bank Product by International Business Magazine, and the Most Innovative Digital Product at the World Economic Magazine Awards 2021; and the GO!Salary Loan Online product, which was named the Most Innovative Digital Transformation Initiative at the Global Economics Awards.
Aligned with the purpose of JG Summit, which is the “unrelenting commitment to provide our customers with better choices, creating shared success with our stakeholders,” Robinsons Bank endeavors to “be better every day,” providing its customers with the best banking experience, its employees with a winning culture, its owners with outstanding returns, and the community with an organization that is responsive to their needs.
For more information on Robinsons Bank, visit robinsonsbank.com.ph
