LIC Retains its Most Attractive BFSI Brand Status

State Bank of India ranks 2nd; HDFC Bank beats ICICI Bank to 3rd

Mumbai, Nov 7, 2016: For the third year in a row, LIC, the public sector insurance giant, has been declared India’s Most Attractive BFSI Brand by the India’s Most Attractive Brands Study 2016. Another public sector entity, the State Bank of India, saw an improvement of 17 ranks to 48th rank in its overall Attractiveness ranking. HDFC grabbed the third position in the BFSI category, and made it to the top 50 Most Attractive Brands list at 49th rank. The private sector bank, ICICI bank saw an improvement of 4 ranks from 61st in 2015 to 57th in 2016. Other private banks that made it to the top 10 list include Axis Bank (All India rank of 147), Yes Bank (All India rank of 152), and Kotak Mahindra Bank (All India rank of 267).

LG has taken the national crown of India’s Most Attractive Brand in this 2016 study. The South Korea-based Consumer Electronics giant has taken the 1st rank, moving up from 2nd place last year. Sony ranks 2nd, followed by the two-time reigning champion from the two previous reports, Samsung Mobiles ranking 3rd. Honda makes an entrance at the 4th position. Samsung, in the Durables category leaped from rank 87 in 2015 to rank 5 this time round. The highest placed wholly-Indian conglomerate in this year’s listings, Bajaj, is India’s 6th Most Attractive brand. 

The second Indian brand in the list, Tata, ranked 7th which has slipped three places since last year. Maruti Suzuki comes in at rank 8. Airtel shoots up 9 ranks from ranking 18th last year, followed by Nokia, which stands at the 10th position. Godrej (All India rank 13), Dell (All India rank 15) and Hewlett Packard (All India rank 17) made an exit from the top 10 Most Attractive Brands listings this year. 

Commenting on the BFSI category, N. Chandramouli, CEO, TRA stated, “This year, the BFSI category has seen the entry of four public sector units in the top ranks, with LIC maintaining its leader status. Private banks like Axis and Yes Bank have seen an improvement in their rankings since last year. This year also saw the entry of two new categories – Broking, with Angel Broking as the only brand, and Venture Capital Fund, with Softbank as the only brand listed in it.”

These revelations were a result of The Most Attractive Brands 2016 Report, the third in its series, published by TRA Research (formerly Trust Research Advisory), a leading research organization dedicated to brand analytics. This year’s study covered 2338 consumer-influencers across 16 cities in India, generating 5 million datapoints and 10,000 unique brands from which the top 1,000 brands have been listed in this year’s report. The 208 page, hardbound report is available for Rs. 14,000/-.