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World's Most Socially Responsible Banks 2022

World's Most Socially Responsible Banks 2022

Banking customers around the world are demanding much more from their financial institutions than simply being safe places to keep money. With the growth of the Environmental and Social Corporate Governance (ESG) movement, customers are asking a lot of questions about their banks' corporate.

Is the bank transparent with its public disclosures? Does the bank use its resources responsibly? Does it treat its customers and employees fairly? Does the bank fight corruption? To help our readers select banks that best align with their own values, Newsweek and global data firm Statista have joined forces to name and rank for the first time "The World's Most Socially Responsible Banks."

The 175 rankings are based on a careful analysis of publicly available corporate responsibility data for 750 banks in 35 countries around the world and on a survey of 45,000 bank customers. The U.S. had the most ranked banks with 15, followed by Italy with 13 and Taiwan with 12. Two of the countries in the study (Egypt and Saudi Arabia) had no banks that qualified for the list.

We hope that you will find this ranking helpful in making your own decisions about where you bank.

Nancy Cooper Signature 5
RankCompanyHQ CityCountryScore OverallScore Environmental ConcernsScore Social ConcernsScore Corporate Governance Concerns
1Grupo Financiero BanorteMonterreyMexico86.8091.4077.0092.80
2Lloyds Banking GroupEdinboroughUnited Kingdom85.0082.5088.6084.90
3ANZ Banking GroupMelbourneAustralia84.8081.8089.9083.60
4UBSZürichSwitzerland84.4089.1082.0083.20
5CitigroupNew York CityUnited States of America83.8090.5083.2078.80
6NatWestLondonUnited Kingdom83.6091.1085.5075.20
7BankinterMadridSpain83.5090.8077.6083.10
8SpareBank 1 ØstlandetHamarNorway83.3071.5087.7091.70
9SchrodersLondonUnited Kingdom83.10100.0082.0068.30
10mBankWarsawPoland82.3075.2072.50100.00
11PNC Financial Services GroupPittsburghUnited States of America82.2089.7095.9061.90
12Intesa SanpaoloTorinoItaly81.9077.5082.2086.90
13Triodos BankDriebergen-RijsenbergNetherlands81.8090.5079.6076.30
14AbancaMadridSpain81.8081.2083.4081.70
15SuncorpBrisbaneAustralia81.7083.6086.3076.20
16OP Financial GroupHelsinkiFinland81.5091.4066.7087.10
17Industrial Bank of Korea (IBK)SeoulKorea81.2085.7070.7088.10
18KB Financial GroupSeoulKorea81.1082.4083.6078.30
19JP Morgan Chase & CoNew York CityUnited States of America81.0092.0082.3069.70
20Sparebanken SørKristiansandNorway80.9078.6074.7090.30
21Banco BMGSão PauloBrazil80.9076.7070.4096.50
22Fineco BankMilanItaly80.8084.1083.3075.90
23SwedbankStockholmSweden80.6076.4079.9086.50
24BradescoSão PauloBrazil80.4080.5072.4089.10
25TD Canada TrustTorontoCanada80.3091.9083.6066.40
26MUFG BankTokyoJapan80.2095.4061.5084.20
27American ExpressNew York CityUnited States of America80.1093.0080.3068.10
28Berner KantonalbankBernSwitzerland80.1091.7083.3066.20
29INGAmsterdamNetherlands80.0076.5081.0083.30
30MediobancaMilanItaly79.8071.5081.3087.50
31DGB Financial GroupDaeguKorea79.7090.9064.4084.40
32KBCBrusselsBelgium79.5067.4084.7087.20
33RabobankUtrechtNetherlands79.5091.6061.4086.10
34Banco Bilbao Vizcaya Argentaria (BBVA)BilbaoSpain79.4073.3088.9077.10
35DBSSingaporeSingapore79.4077.8083.7077.50
36DNB GroupOsloNorway79.3082.0073.5083.20
37Canadian Imperial Bank of CommerceTorontoCanada79.3090.5085.2063.10
38Commonwealth Bank GroupSydneyAustralia79.2082.9090.2065.40
39DesjardinsLévisCanada78.6079.0080.3077.40
40CajamarAlmeríaSpain78.5079.7083.8073.00
41NAB (National Australia Bank)MelbourneAustralia78.4082.2082.2071.50
42MacquarieSydneyAustralia78.3089.7081.4064.70
43Royal Bank of CanadaTorontoCanada78.2083.4086.3065.90
44BKS BankKlagenfurt am WörtherseeAustria78.0077.1087.9070.00
45BarclaysLondonUnited Kingdom77.8089.9067.3077.10
46Shinhan Financial GroupSeoulKorea77.7069.2086.1078.60
47Woori Financial GroupSeoulKorea77.6081.1078.5074.10
48Sparebanken VestBergenNorway77.4064.8074.9093.50
49HandelsbankenStockholmSweden77.4077.0073.3082.60
50First Abu Dhabi BankAbu DhabiUnited Arab Emirates77.3076.9061.8093.90
51BAWAG GroupViennaAustria77.3080.5078.9073.20
52Jyske BankSilkeborgDenmark77.1085.1073.6073.50
53Landesbank Baden-Württemberg (LBBW)StuttgartGermany77.0081.3068.1082.40
54BPER BancaModenaItaly76.8089.6070.7070.80
55CaixaBankValenciaSpain76.7075.6084.3071.10
56Chang Hwa Commercial BankTaipeiTaiwan76.6090.3078.3062.10
57BCVLausanneSwitzerland76.5086.5077.8066.00
58illimityMilanItaly76.3074.7082.1073.00
59BCAJakartaIndonesia76.3070.0077.4082.40
60RegionsBirmingham, AlabamaUnited States of America76.2090.2075.1064.00
61KeyCorpClevelandUnited States of America76.1082.1083.4063.60
62Hana Financial GroupSeoulKorea76.0080.3071.7076.90
63NORD/LBHanoverGermany76.0080.1068.1080.60
64National Bank of CanadaMontrealCanada76.0083.7080.1065.10
65SantanderSantanderSpain76.0070.1082.2076.50
66Bank of MontrealMontrealCanada75.9082.2082.7063.60
67Itaú UnibancoSão PauloBrazil75.7084.3076.4067.30
68BRIJakartaIndonesia75.5066.7088.6072.30
69Banca GeneraliTriesteItaly75.5077.1084.6065.70
70InvestecSandtonSouth Africa75.5090.8066.1070.20
71ScotiabankTorontoCanada75.4066.8086.3073.90
72NykreditCopenhagenDenmark75.2075.5062.8087.90
73MaybankKuala LumpurMalaysia75.1069.8073.7082.60
74Sumitomo Mitsui Trust BankTokyoJapan75.0083.0060.3082.40
75Ibercaja BancoMadridSpain75.0064.9080.3080.60
76Standard CharteredLondonUnited Kingdom75.0084.2078.5063.10
77Banco do BrasilBrasiliaBrazil74.7067.3081.8075.80
78BNY MellonNew York CityUnited States of America74.7082.7077.6064.70
79State StreetBostonUnited States of America74.6082.6077.3064.70
80BNK Financial GroupBusanKorea74.6081.0072.1071.40
81HuntingtonColumbus, OhioUnited States of America74.6089.8082.9052.00
82Arbejdernes LandsbankCopenhagenDenmark74.5064.5073.1086.70
83OberbankLinzAustria74.3065.3086.1072.50
84De VolksbankUtrechtNetherlands74.3084.4058.7080.50
85Standard Bank (Stanbank)JohannesburgSouth Africa73.9081.5076.9064.30
86Axis BankMumbaiIndia73.6073.5078.9069.30
87SbankenBergenNorway73.4055.8084.7080.60
88Julius BaerZürichSwitzerland73.4066.2079.6075.20
89Danske BankCopenhagenDenmark73.4090.2062.9067.80
90Fifth Third BankCincinnatiUnited States of America73.3074.5082.8063.60
91CommerzbankFrankfurt am MainGermany73.2071.9068.3080.00
92Emirates NBDDubaiUnited Arab Emirates73.2069.2070.1080.90
93Banca MediolanumMilanItaly72.8063.1079.1077.00
94SpareBank 1 SMNTrondheimNorway72.7063.8064.0091.10
95NomuraTokyoJapan72.7068.1068.1082.70
96Bank of QueenslandBrisbaneAustralia72.7067.70100.0051.50
97Bank SinoPacTaipeiTaiwan72.7080.6073.9064.30
98CIMB GroupKuala LumpurMalaysia72.6066.2075.2077.10
99DZ BankFrankfurt am MainGermany72.5075.9067.1075.10
100Close BrothersLondonUnited Kingdom72.4088.1076.7053.30
101BelfiusBrusselsBelgium72.4054.2078.1085.70
102Community Trust BankPikeville, KentuckyUnited States of America72.4068.7083.5065.80
103Monte dei Paschi di SienaSienaItaly72.3065.4077.1075.20
104Bank of ChinaBeijingChina72.1071.4058.1087.30
105Banco BPMVeronaItaly72.1076.9081.7058.50
106Banca IFISVeneziaItaly71.8075.5077.6063.30
107Yes BankMumbaiIndia71.8084.1059.8072.30
108Bank BTPNJakartaIndonesia71.7068.9077.9069.20
109CTBC BankTaipeiTaiwan71.7078.6072.7064.60
110SydbankAabenraaDenmark71.6071.6070.6073.40
111FirstRandGautengSouth Africa71.6075.3073.2066.90
112JB Financial GroupJeonjuKorea71.4067.6061.6085.80
113Bayern LBMunichGermany71.2075.1067.8071.50
114Bank Mizrahi-TefahotTel AvivIsrael71.1049.9093.6070.80
115VontobelZürichSwitzerland71.1089.9052.8071.10
116Cathay United BankTaipeiTaiwan71.0059.0089.6065.40
117CaixaBrasiliaBrazil71.0077.6076.8059.50
118Erste GroupViennaAustria70.6059.4074.9078.30
119E.SUN BankTaipeiTaiwan70.1082.9063.5064.60
120Credem BancaReggio EmiliaItaly69.9081.7069.0059.90
121Ameris BancorpMoultrie, GeorgiaUnited States of America69.9056.8092.9061.20
122Coventry Building SocietyCoventryUnited Kingdom69.9073.7056.4080.40
123SabadellAlicanteSpain69.7082.4068.1059.30
124Taipei Fubon BankTaipeiTaiwan69.3073.5070.9064.30
125Provident FinancialBradfordUnited Kingdom69.2075.4082.0051.10
126ComericaDallasUnited States of America69.1064.5081.9061.90
127BNZAucklandNew Zealand69.1068.4060.2079.30
128Taishin International BankTaipeiTaiwan69.0068.7076.1063.10
129ABSAJohannesburgSouth Africa69.0062.2082.1063.70
130Hypo VoralbergBregenzAustria68.9080.8064.3062.40
131van Lanschot Kempens'-HertogenboschNetherlands68.8076.2059.3071.50
132Banco DesioDesioItaly68.6080.0081.7045.10
133UOBSingaporeSingapore68.6052.4077.4076.90
134US BancorpMinneapolisUnited States of America68.5078.0075.8052.60
135BBBankKarlsruheGermany68.4061.3084.0060.70
136King's Town BankTaipeiTaiwan68.3067.6061.6076.50
137Lombard OdierGenevaSwitzerland68.1073.7056.6074.70
138Shinsei BankTokyoJapan68.1064.4073.4067.30
139RHB BankKuala LumpurMalaysia68.1066.2071.8067.10
140First Commercial BankTaipeiTaiwan68.0068.5086.4050.20
141RBL BankMumbaiIndia67.9066.7072.6065.10
142NIBCDen HaagNetherlands67.9058.3072.7073.40
143AmBankKuala LumpurMalaysia67.8067.4070.5066.20
144Banca Popolare di SondrioSondrioItaly67.7073.0069.5061.50
145ParagonSolihullUnited Kingdom67.7076.1073.5054.50
146SpareBank 1 SR BankStavangerNorway67.7050.0076.0077.90
147novobancoLisbonPortugal67.7071.3065.0067.50
148Raiffeisen Landesbank SteiermarkGrazAustria67.5076.3069.0058.00
149NordeaHelsinkiFinland67.3071.0067.0064.50
150NorinchukinTokyoJapan67.3064.9058.6078.90
151Morgan StanleyNew York CityUnited States of America67.1078.7070.8052.60
152Volksbank WienViennaAustria67.1067.4064.0070.60
153Kotak Mahindra BankMumbaiIndia67.0077.6071.6052.80
154Bank PolskiWarsawPoland67.0067.0069.0065.60
155Crédit AgricoleMontrougeFrance66.9055.0082.5064.20
156China Merchants BankShenzhenChina66.9070.6057.1073.60
157ArgentaAntwerpBelgium66.6044.8089.2066.60
158Beyond Bank AustraliaAdelaideAustralia66.1068.6082.7048.00
159Bank HapoalimTel AvivIsrael66.1054.3075.4069.50
160DekaFrankfurt am MainGermany66.1079.9057.4061.70
161SEBStockholmSweden66.0048.2070.8079.80
162Shin Kong BankTaipeiTaiwan65.8057.1077.1064.10
163The Bank of East AsiaHongkongHong Kong65.8061.7070.5066.00
164Postal Savings Bank of ChinaBeijingChina65.7062.0056.1079.60
165Public Bank BerhadKuala LumpurMalaysia65.7085.2055.6056.80
166Taiwan Cooperative BankTaipeiTaiwan65.6058.5075.4063.70
167Cimb NiagaJakartaIndonesia65.5059.3079.1059.10
168NedbankSandtonSouth Africa65.4059.3065.2072.40
169BNIJakartaIndonesia65.4054.5073.8068.50
170China CITIC BankHongkongHong Kong65.3066.7058.6071.30
171CapitecStellenboschSouth Africa65.3053.9072.0070.70
172O-BankTaipeiTaiwan65.1058.7074.9062.50
173Basler KantonalbankBaselSwitzerland65.1067.2066.9061.80
174Bank LeumiTel AvivIsrael65.0074.3058.6062.80
175Old MutualCape TownSouth Africa64.9062.2059.4073.70
LICENSING INFORMATION
If you are listed above, you can find out more about the licensing options visiting the Statista website.

METHODOLOGY
The "World's Most Socially Responsible Banks" focuses on the three dimensions of Environmental, Social and Corporate Governance (ESG). The ranking focuses on a holistic view of corporate responsibility that considers all three pillars of ESG. In total, 175 banks have been identified as the "World's Most Socially Responsible Banks."
The analysis is based on two metrics:
▸ Objective data from key perfor-mance indicator (KpI) research (about 30 KpIs from the three pillars of ESG) including KpIs specific to the banking sector.
▸ ESG reputation of a bank from an extensive consumer survey.The approach does not focus on sustainable investments and social banking.

The analysis follows a 6-step process to create the ranking:
1- Identification of relevant banks
2- Surveying about 45,000 participants on their opinion of banks on social responsibility
3- Collecting of Corporate Social Responsibility (CSR) reports and financial reports of relevant banks
4- Research of KPIs that represent important aspects of a bank's ESG performance using an online access panel. The survey was conducted between November 2021 and January 2022.

Consumers were surveyed on their perception of banks CSR-activities within the country they live in. Structural differences in the response behavior of respondents from different countries were harmonized.

SURVEY STRUCTURE
1- Selection of banks that the respondent is familiar with in their respective country.
2- Surveying participants perception of the banks general engagement in the area of corporate social responsibility as well as specific aspects of ESG.


CSR REPORTS
Research was conducted to identify which of the banks published a CSR report or something similar. Only banks that published such a report could be considered for the research of KPIs. The researched reports must include ESG data for 2020 to ensure comparability.

Research of KPIs: About 30 KPIs across the three areas of ESG were researched per bank. The KPIs were defined so that they could be applied and compared across banks regardless of headquarters or size.

The ESG data was researched mainly from CSR reports or similar as well as other public sources (e.g., CDP, Science based targets initiative). For financial metrics, data was collected from financial reports and the banker Database. In addition to the research, an email was sent to all banks in scope to give them the opportunity to validate the researched KPIs.

Researched data is either binary or numerical. In all cases where banks could not provide data in a field that is researched and relevant for ESG, they were scored 0 for the relevant KPIs (non-disclosure or non-activity failure). For a complete list of the KPIs researched for each bank in the three pillars of ESG, go to www.newsweek.com/msrb-2023.


WEB MONITORING
For each bank that was to be awarded, a detailed check for scandals was carried out. Banks that had recently been involved in large ESG-relevant scandals or legal proceedings were excluded from the analysis.
In response to the Russian invasion of Ukraine and the accompanying sanctions, all banks doing new business in Russia were excluded from the ranking. The public announcement of the banks as well as a list from the Yale School of management (www.yalerussianbusinessretreat.com) were considered in the selection. However, without explicit information on this issue, the banks under consideration could not be excluded from the ranking. Respectively, this screening was performed only on the basis of publicly available and verified information.


SCORING
For every bank with a CSR report, a score was calculated based on KPI performance and the consumer survey. Each pillar of ESG accounts for one third of the final score. In each of the three pillars a score of 100 (for the best performing bank) could be achieved. Within each pillar of ESG the result of the KPI research was weighted 70 percent and the survey result was weighted 30 percent.
The 175 banks with the highest overall score were awarded as the "World's most Socially responsible Banks." The ranking represents banks from 33 countries.


The selection of the banks and the definition of the evaluation criteria were carried out according to independent journalistic criteria of Newsweek and Statista. The evaluation was carried out by the statistics and market research company Statista. Newsweek and Statista make no claim to the completeness of the banks examined.

The ranking is composed exclusively of banks eligible regarding the scope described here. A mention in the ranking is a positive recognition based on research of publicly available data sources and an extensive consumer survey. The ranking is the result of an elaborate process which, due to the interval of data-collection and analysis, is a reflection of official ESG data from 2020. Furthermore, events following July 18, 2022 were not the subject of this survey. As such, the results of this ranking should not be used as the sole source of information for future deliberations. The information provided in this ranking should be considered in conjunction with other available information on sustainability. The quality of companies that are not included in the ranking is not disputed.


You can download the full methodology here.