Can you believe that the leading UCB of India-Saraswat Bank is ahead of HDFC Bank or ICICI Bank or even that of public lender SBI in the ranking of best banks recently announced by Forbes Survey? Yes, it is true!
Bringing pride to the cooperative movement in general and UCBs in particular, the largest Urban Cooperative Bank of India Saraswat Bank has ranked second best bank in the country by Forbes survey. Singapore headquartered DBS bank is number one.
It’s a celebration time for the cooperative sector because Mumbai headquartered UCB has beaten every big banking player in the Indian market. The private lender, HDFC Bank was ranked at third in the list whereas India’s largest Public Sector Bank, SBI did not even make it to top 10 of the list and was ranked 11th.
Jubilant with the news Saraswat Bank Chairman Gautam Thakur said to Indian Cooperative, “This was possible due to the trust and confidence of our customers and shareholders and the dedication and efforts of employees at all levels”.
“I am particularly happy that a Cooperative Bank like Saraswat Bank is at the top of the list of Forbes, of the best banks based in India. It speaks volumes about the competitiveness of the Cooperative Sector”, the young and dynamic chairman, known for his reticence said.
After HDFC Bank, another private lender ICICI Bank, Standard Chartered and Kotak Mahindra had managed to gain the fourth, fifth and Sixth spot respectively. On the other hand, the country’s second largest public sector 
bank, Bank of Baroda (BoB) was ranked 12th and was followed by Punjab National Bank.
Reacting to the news, a few co-operators in Delhi said “despite so much of our contributions the central and state governments still fail to encourage the cooperative sector in an optimum manner.” Even customers have more faith in cooperative banks instead of private and nationalized banks, a point we have been saying for so long, they added.
Forbes has partnered with market research firm Statista to produce the list of the World’s Best Banks to measure the best bank in 23 countries.
Interestingly, the survey ignored any financial performance like the balance sheets and P&L statements in favour of a customer’s opinion and balance sheets in favour of a customer’s opinion. The survey compiled data from around 40,000 customers around the globe for their opinions on their current and former banking relationships.
Banks were rated on general satisfaction and key attributes like trust, fees, digital services and financial advice.
Saraswat Bank today is the largest Urban Co-operative Bank in India and is spread across six states – Maharashtra, Goa, Gujarat, Delhi, Madhya Pradesh and Karnataka. With a total business of Rs.61,000 crore plus, 280 plus branches, and 266 ATMs, the Bank is committed to taking its legacy ahead with outstanding banking services.
Saraswat Bank was established in 1918.
Pai Group of Hotels, Bangalore, too is Banking with Saraswat Bank since March 2016 after banking with a Nationalised Bank for more than 40 years. Parting was difficult but after 4+ years with Saraswat Bank we realise we did no mistake.
Today we are extremely happy with Saraswat Bank, their excellent service with a never ending smile and always eager to serve attitude of each and every member of their staff. All the staff are young, smart and most of them ladies are always vibrant to serve. Each and every premises too are well maintained with super ambience.
They more than deserve this position.
BEST OF LUCK TO Mr GOUTAM THAKUR & HIS TEAM to reach many such milestones and laurels.
It’s Career Milestone for those who are honest and willing to contribute; we say ” हम ना सोचे हमें क्या मिला है; हम ये सोचे किया क्या है अर्पण “
Saraswat bank indeed is a friend in need
Excellent customer service & good for relation, humanity & respect.
Nice to see that Saraswat bank ranked 2nd in forbes survey… As all the staff are so good and politie and yes I’m happy to be the customer of Saraswant bank. ☺
Great, Proud to Bank with Saraswat Bank since more than 25 years,
Wish team Saraswat Bank a fantastic future ahead
Is it good to work as an employee in Sarswat bank
The headlines are completelyi misleading. It talks only on customer survey based on satisfaction, fees digital services, financial advice but it does not analyse profitability and balance sheet the essentials for a company to be rated. Gautam Thakur is quoted having said it speaks volumes about cooperative sector.. This statement when the survey has not taken into account profitability. Have people forgotten so soon the case of Punjab Maharashtra co op bank?
@Rohit Gupta…You missed to call number one bank or intentional?
Congratulations to Saraswat Bank for great achievement.
As a customer I am very much satisfied with their services. The customer friendly approach with positive bend of mind at all levels of staff cadre are worth praising.
Saraswat Bank being oldest member of co operative banking community commands premium over other big private and PSU banks is noteworthy. All the best to the management and staff members for the bright future ahead.