Indians Trust Their Banks More Than Any Other Country

Bangalore: The 2008 global economic crisis had a huge impact on financial institutions across the world. In many countries, there was a sudden rush of withdrawals by depositors, as they started losing trust on financial institutions.

However, the picture seemed better in Asian countries, as banks were more careful with their dealings.

Here is a list of banks that have gained trust in some of the major markets, as compiled by Rediff.

1. India
Trust in Banks: 74 Per Cent
Distrust in Banks: 3 Per Cent
Overall Rank: 1

Indian banks have earned maximum trust by the people and is ranked 1st on trust meter. Unlike Europe and United States, banks in India had not defaulted and have not made customers their lose money.

2. Singapore
Trust In Banks: 69 Percent
Distrust In Banks: 9 Percent
Overall Rank: 2

Inspite having an average of 8 percent economic growth in 2007, Singapore became the first Asian country to fall into recession at the time of global economic crisis that took place in 2008. Through this, it’s very clear that Singapore was more vulnerable to tremors of global economic shocks.

Today, Singapore discloses high trust in its financial institutions.

Also Read: 7 Smart Financial Moves Before You Enter the Age of 30 Are You Opting To Lower Home Loan Rate? A Quick Guide To Follow