In 2016 Regions Bank had the best overall reputation among top U.S. banks and the best reputation among customers for the second consecutive year according to a newly released survey from advisory firm Reputation Institute and the American Banker Magazine.
Regions Bank has an "excellent" reputation ranking, as defined by the Reputation Institute, and received the highest overall score (73.9 out of 100 points) as well as the highest score among customers (85.7 out of 100 points) in the annual survey. Regions ranked second among non-customers.
Regions Chairman, President and CEO Grayson Hall said, "We are pleased to be ranked the most reputable U.S. bank overall by the Reputation Institute and to once again receive the top ranking among customers. We are fortunate to have some of the best associates in the industry who dedicate themselves to providing an outstanding customer experience. Our associates are making a positive difference for our customers and communities, and I am proud that our team was recognized for that."
Now in its seventh year, the survey measures U.S. consumers' perceptions of major banks. The 2016 Annual Survey of Bank Reputations scores and rankings are based on ratings collected via an online questionnaire in the first quarter of 2016. They measure the public's perception of where the company stands on seven dimensions of reputation: products and services, innovation, workplace, governance, citizenship, leadership, and performance. Among customers, Regions ranked first in five of those seven areas and second and third in the other two.
"The most reputable banks recognize that perceptions of governance — inclusive of ethics, openness, honesty and transparency — carry the most weight of importance among customers and non-customers," Stephen Hahn-Griffiths, Vice President and Managing Director at Reputation Institute, said. "However, they also realize that beyond the table stakes of delivering on products and services, that perceptions of workplace are increasingly important, accounting for 14.6 percent of their reputation among customers and 14.8 percent among non-customers."
The full list of the most reputable banks in the United States, including breakdowns of how banks performed on the individual dimensions of reputation, can be found online at https://www.reputationinstitute.com.
