Riding on the back of excellent performance for third year in a row, the Life Insurance Corporation of India (LIC) has retained its top spot as the country’s favourite Banking and Financial (BFSI) brand, says a report.
According to the TRA Research-2016 report, another public sector entity, State Bank of India, climbed up 17 spots to claim 48th rank in its overall attractiveness ranking.
Private sector bank HDFC stood at the third position in the BFSI category, and made it to the list of top 50 most attractive brands with 49th rank.
Furthermore, private sector lender ICICI Bank saw an improvement of four ranks from 61st in 2015 to 57th in 2016. Other private banks that made it to the top 10 list include Axis Bank, Yes Bank and Kotak Mahindra Bank.
The rankings are part of the third edition of the Most Attractive Brands Report-2016 .The report was published by TRA Research (formerly Trust Research Advisory), a leading research organisation dedicated to brand analytics.
This year’s study covered 2,338 consumer-influencers across 16 cities in India, generating five million datapoints and 10,000 unique brands from which the top 1,000 brands have been listed in this year’s report.
“This year, the BFSI category has seen the entry of four public sector units in the top ranks, with LIC maintaining its leader status while private banks like Axis and Yes Bank have seen an improvement in their rankings since last year,” said N. Chandramouli, CEO, TRA, while explaining the report.