• According to the study prepared by Reputation Lab, the average reputation indicator of the Spanish banking sector is weak, standing at 41 points, almost 4 points below the Ibero-American average.
• The reputation of the banking sector is better in countries with lower levels of banking penetration. The Dominican Republic, Nicaragua and Honduras are the countries where banks have the best reputation, while they are perceived the worst in Colombia, Bolivia and Chile. Spain ranks 14th out of 18.
• Spanish consumers grant banks some relevant strengths in attributes such as “financial soundness”, “track record” or “wide presence in the country”. In contrast, they perceive weaknesses in attributes such as “access to credit”, “financial education”, “commitment to the country's development” or “support for entrepreneurship”.
• The 2025 edition of RepCore® Banking includes as a novelty the analysis of some neobanks (banks that operate only online) with reputation indicators superior to those of traditional banks, standing out in the perception of attributes such as “innovation”, “quality/price ratio”, “agility”, “ethics” or “transparency”.

According to the RepCore® Banking 2025 study, the average reputation indicator for the Spanish banking sector is weak, standing at 41 points, almost 4 points below the Ibero-American average. This year, the study extends its analysis to 18 countries after including the USA, Brazil and Ecuador.

Specifically, the results show that it is in countries with lower levels of banking penetration that the sector achieves its highest average reputation index. On the contrary, it is in the more mature markets, with more demanding consumers, where its reputation is weaker because it is not able to meet the expectations of its customers. Thus, the Dominican Republic, Nicaragua and Honduras are the countries where banks have the best reputation, while they are perceived as the worst in Colombia, Bolivia and Chile. Spain ranks 14th out of 18.

When consumers in the different countries in the study were asked about the role of banks in society, their importance in financing individuals and companies was identified, with specific mentions of access to housing, especially in Spain, or support for entrepreneurship, serving as a cog in the economy by connecting savings and investment, supporting the country's development, contributing to financial education and supporting the most disadvantaged through their social work. However, consumers' assessment of the degree to which this role is fulfilled is, in general terms, low, although with significant differences between countries. In those countries where the perception of compliance is higher, the sector enjoys a stronger reputation.

While there is agreement in terms of understanding of the role of banks, in the case of Spain there are comments that highlight the perception that there is an imbalance of power between banks and consumers and how this imbalance translates into an enormous benefit for the former at the expense of harsh conditions imposed on the latter, there is also some suspicion following the rescue of the sector during the crisis and many interviewees demand the return of money in general from banks as a group.

Spanish consumers grant banks some relevant strengths in attributes such as “financial soundness”, “track record”, “broad presence in the country”, “non-discrimination”, “technological development” or “operational security”. On the contrary, they perceive weaknesses in important attributes such as: “access to credit”, “financial education”, “commitment to the country's development” or “support for entrepreneurship”.

For Fernando Prado, partner at Reputation Lab: “Although the reputation of the banking sector is weak, weighed down by a negative emotional halo, in the last year it has not worsened and there are strengths in specific aspects on which the sector could work in order to recover the esteem of consumers. We should see this as an opportunity.

The 2025 edition of RepCore® Banking includes as a novelty the analysis of some neobanks (banks that operate only online) and that have had relevant success rates in countries such as Brazil, Mexico, Spain or Portugal. In this sense, neobanks have higher reputation indicators than traditional banks, standing out in the perception of attributes such as “innovation”, “quality/price ratio”, “agility”, “ethics” or “transparency”.

ESG criteria, key to reputation building
According to the results of the study, variables related to ESG criteria explain almost half of the reputation of the banking sector. Specifically, the “social commitment” and “integrity” dimensions account for 49.2% of the reputation of banks, which shows that positive social impact and ethical behavior are particularly relevant for the sector.

However, consumers do not seem to be very clear about how banks contribute to environmental protection and the fight against climate change, focusing only on anecdotal issues such as saving paper or promoting recycling. Virtually no interviewees refer to the application of environmental filters in their lending decisions, suggesting an opportunity for the sector to publicize its instrumental role as a positive agent of change in society.