Singapore, 10th June, 2020 – CARMA Asia, the leading provider of integrated media intelligence solutions, has published a report evaluating how top banks in Singapore, Malaysia and Hong Kong were reported in local publications and on social media in May 2020.
CARMA evaluated a total of 1434 articles and 66,148 social media posts using a combination of cutting edge technology and human analyst insight. Banks were selected to be featured in the report based on the total value of assets under management.
CARMA’s media coding methodology enables in-depth analysis of key messages, products, corporate and industry issues. In addition CARMA’s proprietary Favourability Rating provides an objective, granular measurement of tone in media coverage.
The in-depth analysis reveals overall prominence and favourability of the banking brands in local media, highlighting key topics of discussion driving reputation. The report also identifies the banks’ most visible spokespeople and their most resonant messages.
CARMA Asia’s Managing Director Andrew Nicholls commented, “This analysis shows that some banks were able to distinguish themselves in the media with definitive action taken in response to COVID- 19 and an effective use of spokespeople to convey stability in uncertain times.”
He continued, “Many consumers are using social media to ask questions and voice opinions of banks publicly, especially with regard to customer service and digital banking products. With the growth of digital payment systems and virtual banks catering to niche segments, the traditional banks will need to be mindful of this feedback and manage their brands effectively to demonstrate value. New entrants might not portray the credibility of established brands, but they will likely focus on digital experience and customer-centricity.”
Citibank had the highest Favourability Rating across traditional media outlets in Singapore and Hong Kong. Much of Citibank’s positive coverage in Singapore was driven by the firm’s decision to return payouts received from the COVID-19 Jobs Support Scheme (JSS) funded by the government. A spokesperson explained that giving back the funding could benefit other individuals, families and companies who have a far greater need.
HSBC had the most prominent coverage in Hong Kong and the most favourable in Malaysia. DBS and Maybank took the top spots as most prominent banks in Singapore and Malaysia, respectively.
About CARMA Asia
CARMA Asia is the leading provider of integrated media intelligence solutions in the Asia Pacific region. Headquartered in Singapore, CARMA Asia is part of CARMA International, on the ground in 48 countries across 5 continents, we deliver what matters.
CARMA provides media monitoring and analysis across all media formats, including print, online, social, TV, and radio. Combining unrivalled human insight from our team of researchers and analysts, with our proprietary technologies, CARMA’s solutions provide valuable, actionable data that is presented with powerful visualisations and flexible reporting functions.