State Bank of India Named World's Best Consumer Bank 2025

The State Bank of India (SBI) has been named the World's Best Consumer Bank for 2025 by Global Finance magazine, recognized for its strong focus on customer engagement, digital transformation, and expanding accessibility, particularly in rural and semi-urban areas. SBI's efforts include simplifying onboarding, vernacular voice banking, 24/7 digital support, and AI-powered personalized services, which have driven significant revenue and profitability growth. In the US, Bank of America continues to grow its customer base, adding 5.8 million new clients in 2024, balancing digital interactions with an expanding physical presence. Southeast Asia's UOB has seen substantial growth after acquiring four Citi consumer businesses, with notable increases in account balances, card fees, and wealth management income fueled by digital platforms. In China, China Merchants Bank defied the trend of declining net interest margins by expanding its assets under management by 12% and growing its retail customer base to 210 million, with its retail division generating over half of its income and profit. These banks exemplify leadership in consumer banking through innovation, digital expansion, and customer-centric approaches across different global markets.