Forbes ranks PNB 2nd in the Philippine list of World’s Best Banks in 2023
19 April 2023 — Global business media giant Forbes ranks Philippine National Bank (PNB) 2nd in the Philippines in its list of World’s Best Banks for 2023. The Forbes ranking is based on a worldwide survey of 48,000 banking customers in 32 countries.
The recognition was announced last April 11, 2023 when Forbes published its story “Meet The World’s Best Banks 2023”.
Forbes said: “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. 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.”
PNB is among the 415 leading and best banks to appear in this year’s Forbes rankings. Banks were rated in terms of general satisfaction (30%), recommendation (30%), and 40% for trust, terms and conditions, digital services, customer services, and financial advice.
PNB’s thrust is to deliver an engaging experience to customers and the focus has been on the Digital Innovations Group to deliver the most relevant digital banking products of PNB, and ensuring these services are accessed easily and conveniently in a secure, personalized, and reliable platform.
“We are honored to be included on the 2023 World’s Best Banks list by Forbes,” said FVP and Digital Innovations Group Head Damasen Paul Cid. “Our use of customer insights, technology, data, and digital tools support our continued focus on delivering superior banking experience. We will continue to deepen customer relationships by listening to their needs and concerns, and by being proactively engaged in each stage of their banking journey”.
“We believe that a delightful customer experience does not start and end with our digital banking platforms, but at every touchpoint such as voice calls, social media, email or messaging is an opportunity to positively engage our customers,” said Cid, adding that the focus of the Digital Innovations Group has been to reflect industry standard service availability levels with the end goal of delivering fast and stable platform experiences.
Forbes and its market research partner, Statista, gathered the rankings based on surveys where customers rated their current and former banks on overall satisfaction and recommendation, and evaluated them in five key areas – trust, terms and conditions, digital services, customer services, and financial advice.
According to Forbes, trust was the most important factor that contributed to the success of banks globally. This is especially true in the so-called New Normal after the pandemic and, the rise of interest rates worldwide.
Forbes is an American business magazine that is published twice a week. The magazine is famous for publishing lists and rankings including Forbes 400 and Forbes Global 2000. The magazine was founded by B. C. Forbes, a financial columnist, on 5 September 1917. Forbes magazine has a circulation of over 700 thousand readers around the globe.