The most reputable companies in the financial sector are NordNet, S-Bank, and OP Group – the sector’s reputation is at a moderate level
T-Media’s Reputation&Trust, which focuses on companies in the financial sector, revealed that the most reputable organizations in the industry are NordNet, S-Bank, and OP Group. On average, the reputation of the financial sector companies surveyed is at a moderate level.
The survey, conducted in December, targeted the general public, and the organizations surveyed were in the financial sector. A total of 24 financial sector organizations were surveyed in this round. The organizations surveyed included banks, pension funds, and insurance companies, among others.
The survey reveals that Nordnet, S-Bank, and OP Group all enjoy a strong reputation. The general public rated the reputations of Nordnet and S-Bank at 3.72, while OP Group received a reputation score of 3.56 on a scale of 1–5. In addition to the top three, the reputation of Turva Mutual Insurance Company was also rated as good, with a score of 3.50.
Pohjola Insurance saw the biggest rise in reputation in the survey, managing to improve its reputation by 0.10 points.
“A good reputation and the trust it inspires are critical indicators for the sustainability of the Finnish pension system and the insurance industry, for example. Rising interest rates and a difficult financial year are reflected in the public’s slightly more critical attitude toward the financial sector,” says Sari Maunula, Research Director at T-Media.
On average, the reputation of the financial sector organizations surveyed is at a moderate level
The survey revealed that the reputation of the financial sector organizations surveyed is, on average, at a moderate level—quite close to a good level. None of the organizations surveyed had a poor reputation. On average, the financial sector organizations surveyed received the highest ratings in the areas of finance, employment practices, and leadership.
“The financial sector plays a major role in the daily lives of Finns as a lender, investor, and insurer. The findings suggest that the sector needs to be more transparent about its work in the area of sustainability. We need to explain in concrete terms how banks, insurance companies, and pension funds play a key role in mitigating the climate crisis and preventing the loss of biodiversity,” says Tuomo Yli-Huttula, Director of the Finnish Financial Sector Association.
Yli-Huttula is pleased that the financial sector has received positive evaluations in the areas of employer reputation and leadership:
“The industry employs a diverse range of workers. In our workplace, embracing diversity means understanding and accepting differences.”
Source: Reputation&Trust Special Reputation&Trust Survey Q4/2022. The figures shown in the chart are averages of the ratings received by the 24 organizations surveyed. The rating scale ranges from 1 to 5. The figures are rounded to two decimal places.
This is how we conducted the study
The aim of the Reputation&Trust Survey of the Financial Sector was to assess the reputation of financial sector organizations operating in Finland and the sector as a whole among the Finnish public.
A total of 4,984 Finns participated in the survey, providing a total of 6,389 organizational ratings between December 2 and December 22, 2022. The sample has been weighted to be representative of the general population by gender, age, and region of residence. The statistical margin of error for the entire data set is at most approximately 1.39 percentage points in either direction.
More information
Riku Ruokolahti, Director of Development, T-Media
Tel. +358 400 512 200
Sari Maunula, Research Director, T-Media
Tel. +358 50 409 1543
