The European banking sector faces the communications stress test

By leahschothorst

The performance of the European banking sector in the latest edition of Webranking by Comprend was published in an opinion piece today by Global Banking & Finance, announcing that only 11 out of 56 banks listed in the FT Europe 500 index are taking a strategic approach to digital communication.

There are still companies that have come out on top with Danske Bank winning the top spot in this year’s assessment of digital corporate communications with 73.3 points, followed by last year’s winner Swedbank (69.7), with Credit Suisse (62.5) securing third place. Best improver this year was OTP Bank which improved by 10.3 points.

Only 11 out of 56 banks pass the test

Considering 50 points out of 100 as the threshold at which companies respond adequately to market requirements, only 11 banks of Europe’s top 56 passed the test in 2014. At the other end of the scale, 22 companies scored less than 30 points, meaning that they do not present a minimum of content expected by the market. The 23 banks that are located in between only partially meet requirements, albeit presenting a moderate level of disclosure. The trend is negative as the sector is one of the few that saw its average score decline compared to last year.

Most transparent banks go to a mix of European countries

Swedish, Italian and Swiss banks are one step ahead in using transparency and dialogue for differentiating themselves in a competitive business environment. The most transparent country in the banking sector is Sweden, with 3 out of the 4 Swedish banks in the research in the top 10, and Swedbank coming out second in the overall ranking.

More information

Download the full banking sector results report

Article in Global Banking & Finance – June 17 2015

For further information about Webranking and our company reports, contact Helena Wennergren at helena.wennergren@comprend.com.