Citizens Bank ranked among top 10 most reputable banks

CITIZENS BANK, a Citizens Financial Group Inc. company, ranked among the top 10 most reputable banks among customers for 2015. / COURTESY THE REPUTATION INSTITUTE
CITIZENS BANK, a Citizens Financial Group Inc. company, ranked among the top 10 most reputable banks among customers for 2015. / COURTESY THE REPUTATION INSTITUTE

PROVIDENCE – Citizens Bank, a Citizens Financial Group Inc. company, ranked among the top 10 most reputable banks among customers for 2015, according to a recent report.
The Reputation Institute Inc., in collaboration with American Banker, ranked Citizens ninth out of 32 financial institutions in its yearly survey examining U.S. bank reputations.
The ratings are tallies of online questionnaires collected by the Reputation Institute. Both bank customers and noncustomers are asked questions about 32 banks chosen from the Federal Reserve’s list of large commercial banks with final selections determined by American Banker, according to the report.
Citizens received a score of 79.7 out of 100 placing it within the category of “strong/ robust” and just .3 points short of being a top-tier bank.
The Providence-based bank, however, ranked No. 16 when measured among noncustomers, according to the report, receiving a score of 60.8. Both scores represent improvements for the bank compared with last year’s survey, according to the report.
“Our plan to become a top-performing regional bank is built on our commitment to Providence Citizens Bank customers with the best possible banking experience, and we are pleased to see this year’s survey confirm the progress we are making,” Brad Conner, vice chairman and head of consumer banking, said in a statement.
Regions Financial Corp. ranked No. 1 out of companies measured among customers, while Frost Bank, a Cullen/Frost Bankers Inc. company, ranked No. 1 among companies measured among noncustomers.
TD Bank ranked No. 13 among customers and noncustomers; Santander Bank ranked No. 29 among customers and noncustomers and Bank of America ranked last – No. 32 – in both categories.
“This recognition reflects the hard work of Citizens colleagues and the significant investments we have made in our products and services that are helping our customers bank better,” Conner said.
Overall, the Reputation Institute found that bank reputations continue to improve among customers, “while noncustomer reputation somewhat stalls,” according to the report. The trend holds true across all types of banks both at the national and regional levels, which is an indication of returning confidence in financial institutions that lost a lot of the public’s trust following the financial crisis of 2008.

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