Central Bank: PAN, BMG, and Inter Banks Lead Ranking of Customer Complaints

RIO DE JANEIRO, BRAZIL – On Wednesday, July 15th, Brazil’s Central Bank (BC) reported that the PAN bank ended the second quarter of 2020 leading the ranking of complaints against financial institutions. The bank recorded an index of 158.89. Second placed is the BMG bank (99.80) and third, the Inter bank (97.92). This list analyzes banks and financial institutions with more than 4 million clients.

The complaints index is based on the number of complaints deemed justified, divided by the number of the institution’s clients, multiplied by 1,000,000. In practice, the higher the index, the worse the institution’s rating. The ranking is done on a quarterly basis.

In the list, Santander comes in as the fourth most complained about institution (index of 41.35). In sequence are Caixa (26.45), Bradesco (24.35), Banco do Brasil (22.76), Itaú (21.09), Banrisul (19.83), Banco CSF (16.59), OMNI (12.07), Realize (3.55), Votorantim (3.47), Midway (3.13), Banco do Nordeste (0.86), Nubank (0.18), and Sicredi (0.00).

Smaller-scale institutions

Among banks and financial institutions with fewer than four million clients – which are treated in a separate ranking – the leader is Facta Financeira, with a complaints rate of 559.96 in the second quarter of 2020.

Next come Banco Digimais (340.24), Safra (281.78), BNP Paribas (268.59), and Industrial do Brasil (235.59), among others. The complete list includes 22 institutions.

Among the most common complaints are irregularities related to integrity, reliability, security, secrecy, or legitimacy of credit card-related service operations.

Source: Estadão Conteúdo