IMB Bank has been named one of Australia’s top four banks, according to influential American business magazine Forbes.

The retail bank was named Australia’s fourth best bank in Forbes’ list of the world’s best banks. To develop the list, Forbes partnered with market research firm Statista to measure the best banks in nearly two dozen countries.

Statista surveyed more than 40,000 customers around the globe for their opinions on their current and former banking relationships. The banks were rated on overall recommendation and satisfaction, as well as subdimensions, which included trust, customer service, digital services and financial advice. The full results can be accessed here.

Robert Ryan, Chief Executive at IMB Bank, said Forbes’ recognition capped a strong year for IMB, during which the bank is celebrating its 140^th anniversary as well as a successful merger with Newcastle-based Hunter United continuing IMB’s expansion aspirations.

“Our ranking in Forbes’ report reinforces what our customers have been telling us. We are very pleased to receive further validation that our focus on customer experience, their financial outcomes and digital innovation is being well received.

“The Forbes recognition supports previous honors from RFi Group. IMB Bank was awarded Best Mutual Bank of the Year in 2018 and was a finalist in 2019 in the Most Innovative Mutual of the Year category.

“We are delighted to be recognised in this way and we will keep pushing to remain one of the world’s best banks and among the very best in Australia,” Mr Ryan said.

IMB Bank enjoys an overall customer satisfaction rating of 95% and offers a comprehensive range of internet and mobile banking capabilities, including a full suite of mobile wallets, and cutting-edge fraud-protection solutions. The bank was among the first in Australia to offer real time payments for retail and business customers and the first bank in Australia to release authenticated in-app messaging. Later this year, IMB Bank will launch a fully digital mortgage application.

Established in 1880, IMB Bank is one of Australia’s longest standing mutual banks offering retail and business banking solutions. It operates an Australian based contact centre and maintains an extensive branch network across the Illawarra and South Coast regions of NSW, the Australian Capital Territory, Sydney, Melbourne and the Newcastle-Hunter region.