S-Bank is the most reputable institution in the financial sector – its good reputation shields Nordnet during the crisis
Reputation&Trust of financial sector companies conducted by T-Media reveals that S-Bank is the most reputable company in the financial sector. Nordnet’s service crisis is not yet reflected in the results. A company’s reputation has a strong influence on Finns’ behavior, such as their level of trust in companies in the sector.
The annual survey, conducted last December, was carried out among the general public, with a total of 4,956 Finns responding. A total of 25 companies operating in the sector in Finland were surveyed in this round. The companies surveyed included banks, pension funds, and insurance companies.
Of the top three companies, S-Bank had a reputation score of 3.74, while OP Group and Nordnet both scored 3.69. Reputation&Trust survey model, a reputation score on a scale of 1 to 5 is calculated for each company.
The issues with Nordnet's online services are not yet reflected in the results of the December survey, and the company is tied for second place with OP Group.
“The data for this study was collected prior to Nordnet’s technical glitch in February, and the impact on its reputation will only be reflected in the next survey. The outage and its consequences were serious, but the company’s prior trust capital, good reputation, and open communication will likely help it bounce back after the crisis,” says Lauri Leppo, an expert at T-Media.
The reputation of financial sector companies is improving on average
The reputation of the financial sector companies surveyed stands at a moderate average of 3.40, with 3.50 marking the threshold for a good reputation. The general public’s perceptions of the companies surveyed are more positive than they were a year ago. The largest positive changes in the average annual changes have occurred in the general public’s perceptions of the companies’ products and services, their status as employers, and their corporate responsibility.
“For the majority of the companies surveyed, their reputation has improved compared to a year ago, which has a positive impact on the reputation of the entire industry. On average, there has been a positive shift across all aspects of reputation,” says Sari Maunula, Research Director at T-Media.
“In the financial sector, reputation has a particularly strong influence on the general public’s behavior toward companies in the industry. As a result, even small changes in reputation have a multiplier effect on Finns’ trust, willingness to recommend, and other behaviors toward companies in the sector,” Maunula continues.
This is how we assess the reputation of companies in the financial sector
The aim Reputation&Trust Financial SectorReputation&Trust was to assess the reputation of financial companies operating in Finland and the sector as a whole among the general public. Data for the survey was collected via an online questionnaire between December 2 and 26, 2024.
The companies were evaluated using T-Media’s Reputation&Trust, in which a company’s reputation score is calculated as the average of eight different categories. These areas are corporate governance, finance, leadership, innovation, interaction, products & services, workplace, and responsibility. The study used a five-point rating scale (1–5).
A total of 4,956 Finns participated in the study. The study’s target group consisted of Finns aged 15–65 nationwide (excluding the Åland Islands). The sample was weighted to be representative of the population by gender, age, and region of residence.
For more information:
Sari Maunula, Research Director, T-Media
Tel. +358 50 409 1543
Lauri Leppo, Specialist, T-Media
Tel. +358 50 433 6609
