Trust Research Advisory’s brand trust report has ranked Life Insurance Corporation of India (LIC) as the country’s most trusted brand in the banking and financial institution (BFSI) space, for the second consecutive time. State Bank of India was ranked second.

ICICI Bank ranked the third most trusted brand in the BFSI sector, followed by Housing Finance Development Corporation and HSBC.

Overall, LIC was ranked 8th among 17,000 brands studied while SBI was ranked 19th.

Trust Research Advisory’s chief executive N Chandramouli said: “Both LIC and SBI have ranked first and second in the BFSI sector for two years consecutively.”” This marked a preference for state-owned brands in BFSI category ( Courtsey: ET)