LIC tops trusted banking and finance brand rankings

The Life Insurance Corporation of India (LIC) was named the country’s most trusted brand in the banking and financial institution space for the second year in a row, in Trust Research Advisory’s brand trust report.

According to The Economic Times, the State Bank of India (SBI) came in second, followed by ICICI Bank, Housing Finance Development Corporation and HSBC.

LIC also came in eighth amongst the 17,000 brands that Trust Research studied for its brand trust report.

Trust Research’s Chief Executive N. Chandra Mouli said: “Both LIC and SBI have ranked first and second in the BFSI sector for two years consecutively. This marks a preference for state-owned brands in the BFSI category.”