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The 400 financial institutions assessed in the 2022 Financial System Benchmark span the entirety of the financial system. The ranking encompasses publicly listed, privately held and state-owned enterprises. In terms of industries, they contain asset owners (including pension funds, development finance institutions and sovereign wealth funds), asset managers (including investment consultants), banks and insurance companies. The benchmark looks cross-sector and cross-industry to provide a snapshot of system-level progress.

Ranking table

 Total score out of 100 Governance and strategy out of 40 Respecting planetary boundaries out of 30 Adhering to societal conventions out of 30
1 Bank of Montreal (BMO)
Total score 52.5 /100
Governance and strategy 24.7 /40
Respecting planetary boundaries 13.3 /30
Adhering to societal conventions 14.5 /30
2 Aviva
Total score 51.2 /100
Governance and strategy 23.7 /40
Respecting planetary boundaries 15.0 /30
Adhering to societal conventions 12.5 /30
3 EIB Group
Total score 50.9 /100
Governance and strategy 24.0 /40
Respecting planetary boundaries 16.7 /30
Adhering to societal conventions 10.3 /30
4 BNP Paribas
Total score 49.1 /100
Governance and strategy 19.2 /40
Respecting planetary boundaries 14.9 /30
Adhering to societal conventions 15.0 /30
5 Credit Agricole
Total score 43.4 /100
Governance and strategy 19.4 /40
Respecting planetary boundaries 12.9 /30
Adhering to societal conventions 11.0 /30
6 ADB
Total score 43.0 /100
Governance and strategy 25.3 /40
Respecting planetary boundaries 11.9 /30
Adhering to societal conventions 5.8 /30
7 CIMB
Total score 42.3 /100
Governance and strategy 25.6 /40
Respecting planetary boundaries 9.4 /30
Adhering to societal conventions 7.3 /30
8 NN Group
Total score 41.6 /100
Governance and strategy 21.6 /40
Respecting planetary boundaries 12.5 /30
Adhering to societal conventions 7.5 /30
9 Allianz
Total score 40.1 /100
Governance and strategy 15.6 /40
Respecting planetary boundaries 12.2 /30
Adhering to societal conventions 12.3 /30
10 NatWest Group
Total score 40.0 /100
Governance and strategy 19.2 /40
Respecting planetary boundaries 13.1 /30
Adhering to societal conventions 7.8 /30
11 Societe Generale
Total score 39.9 /100
Governance and strategy 17.7 /40
Respecting planetary boundaries 9.4 /30
Adhering to societal conventions 12.8 /30
12 ABN AMRO
Total score 39.8 /100
Governance and strategy 16.3 /40
Respecting planetary boundaries 10.0 /30
Adhering to societal conventions 13.5 /30
13 UBS
Total score 38.4 /100
Governance and strategy 16.8 /40
Respecting planetary boundaries 13.9 /30
Adhering to societal conventions 7.8 /30
14 Caixabank
Total score 37.9 /100
Governance and strategy 16.9 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 13.3 /30
15 abrdn plc
Total score 37.6 /100
Governance and strategy 16.0 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 13.0 /30
16 FMO
Total score 37.1 /100
Governance and strategy 17.0 /40
Respecting planetary boundaries 6.4 /30
Adhering to societal conventions 13.8 /30
17 ING
Total score 36.5 /100
Governance and strategy 15.6 /40
Respecting planetary boundaries 8.9 /30
Adhering to societal conventions 12.0 /30
18 AXA
Total score 36.4 /100
Governance and strategy 10.9 /40
Respecting planetary boundaries 14.6 /30
Adhering to societal conventions 11.0 /30
19 Schroders
Total score 34.9 /100
Governance and strategy 13.1 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 9.0 /30
20 BlackRock
Total score 34.4 /100
Governance and strategy 16.2 /40
Respecting planetary boundaries 10.0 /30
Adhering to societal conventions 8.3 /30
21 Cathay Financial Holding
Total score 34.3 /100
Governance and strategy 11.5 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 12.5 /30
22 Swiss Re
Total score 33.5 /100
Governance and strategy 21.8 /40
Respecting planetary boundaries 6.7 /30
Adhering to societal conventions 5.0 /30
23 Citigroup
Total score 33.3 /100
Governance and strategy 14.0 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 11.8 /30
24 Assicurazioni Generali
Total score 33.2 /100
Governance and strategy 17.9 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 7.5 /30
25 Sun Life Financial
Total score 33.2 /100
Governance and strategy 19.6 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 5.5 /30
26 Caisse de dépôt et placement du Québec (CDPQ)
Total score 32.4 /100
Governance and strategy 16.0 /40
Respecting planetary boundaries 11.1 /30
Adhering to societal conventions 5.3 /30
27 Banco Bilbao Vizcaya Argentaria (BBVA)
Total score 32.1 /100
Governance and strategy 20.5 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 10.0 /30
28 Fidelity International
Total score 31.5 /100
Governance and strategy 14.8 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 4.0 /30
29 Standard Chartered
Total score 31.4 /100
Governance and strategy 11.1 /40
Respecting planetary boundaries 10.0 /30
Adhering to societal conventions 10.3 /30
30 APG Group
Total score 31.2 /100
Governance and strategy 17.1 /40
Respecting planetary boundaries 13.1 /30
Adhering to societal conventions 1.0 /30
31 M&G
Total score 31.2 /100
Governance and strategy 13.3 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 7.0 /30
32 Norges Bank Investment Management
Total score 31.0 /100
Governance and strategy 15.2 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 5.5 /30
33 Intesa Sanpaolo
Total score 29.7 /100
Governance and strategy 16.2 /40
Respecting planetary boundaries 2.5 /30
Adhering to societal conventions 11.0 /30
34 National Australia Bank
Total score 29.3 /100
Governance and strategy 12.3 /40
Respecting planetary boundaries 10.6 /30
Adhering to societal conventions 6.5 /30
35 PGGM
Total score 29.1 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 14.2 /30
Adhering to societal conventions 2.5 /30
36 Zurich Insurance Group
Total score 29.0 /100
Governance and strategy 14.2 /40
Respecting planetary boundaries 8.3 /30
Adhering to societal conventions 6.5 /30
37 KBC Groep
Total score 28.9 /100
Governance and strategy 12.1 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 9.0 /30
38 Lloyds Banking Group
Total score 28.9 /100
Governance and strategy 13.1 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 7.8 /30
39 KB Financial Group
Total score 28.8 /100
Governance and strategy 11.0 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 12.0 /30
40 Mizuho Financial Group
Total score 28.6 /100
Governance and strategy 7.8 /40
Respecting planetary boundaries 13.3 /30
Adhering to societal conventions 7.5 /30
41 Rabobank
Total score 28.6 /100
Governance and strategy 8.3 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 7.5 /30
42 Standard Bank
Total score 28.5 /100
Governance and strategy 16.6 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 7.8 /30
43 ANZ Banking Group
Total score 28.5 /100
Governance and strategy 13.4 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 7.0 /30
44 Bancolombia
Total score 28.3 /100
Governance and strategy 8.5 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 11.3 /30
45 Swedbank
Total score 28.1 /100
Governance and strategy 10.5 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 9.0 /30
46 Credit Suisse Group
Total score 28.1 /100
Governance and strategy 14.0 /40
Respecting planetary boundaries 9.6 /30
Adhering to societal conventions 4.5 /30
47 Banco Santander
Total score 28.0 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 7.0 /30
48 International Finance Corporation (IFC)
Total score 27.8 /100
Governance and strategy 8.5 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 8.5 /30
49 Itau Unibanco
Total score 27.7 /100
Governance and strategy 11.9 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 10.0 /30
50 Bank of Nova Scotia
Total score 27.4 /100
Governance and strategy 12.9 /40
Respecting planetary boundaries 5.0 /30
Adhering to societal conventions 9.5 /30
51 Skandinaviska Enskilda Banken (SEB)
Total score 27.2 /100
Governance and strategy 9.4 /40
Respecting planetary boundaries 10.6 /30
Adhering to societal conventions 7.3 /30
52 Westpac
Total score 27.2 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 11.5 /30
53 Nordea Group
Total score 27.1 /100
Governance and strategy 7.3 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 7.0 /30
54 Legal and General Group
Total score 27.1 /100
Governance and strategy 8.8 /40
Respecting planetary boundaries 10.6 /30
Adhering to societal conventions 7.8 /30
55 Banco Bradesco
Total score 27.0 /100
Governance and strategy 10.2 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 11.0 /30
56 Sumitomo Mitsui Financial Group
Total score 27.0 /100
Governance and strategy 14.5 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 4.8 /30
57 Prudential
Total score 26.9 /100
Governance and strategy 13.9 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 5.5 /30
58 JP Morgan Chase & Co
Total score 26.7 /100
Governance and strategy 9.4 /40
Respecting planetary boundaries 8.1 /30
Adhering to societal conventions 9.3 /30
59 Siam Commercial Bank
Total score 26.5 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 13.3 /30
60 Tokio Marine Holdings
Total score 25.9 /100
Governance and strategy 11.6 /40
Respecting planetary boundaries 6.3 /30
Adhering to societal conventions 8.0 /30
61 Arbejdsmarkedets Tillaegspension (ATP)
Total score 25.5 /100
Governance and strategy 12.2 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 2.5 /30
62 Alecta
Total score 25.3 /100
Governance and strategy 15.1 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 2.8 /30
63 EBRD
Total score 25.0 /100
Governance and strategy 9.0 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 5.3 /30
64 HSBC
Total score 25.0 /100
Governance and strategy 9.6 /40
Respecting planetary boundaries 8.3 /30
Adhering to societal conventions 7.0 /30
65 Mitsubishi UFJ Financial Group (MUFG)
Total score 24.4 /100
Governance and strategy 5.0 /40
Respecting planetary boundaries 11.7 /30
Adhering to societal conventions 7.8 /30
66 British International Investment
Total score 24.2 /100
Governance and strategy 5.9 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 5.5 /30
67 Morgan Stanley
Total score 24.1 /100
Governance and strategy 8.2 /40
Respecting planetary boundaries 7.6 /30
Adhering to societal conventions 8.3 /30
68 Absa Group
Total score 24.0 /100
Governance and strategy 11.9 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 8.8 /30
69 Kommunal Landspensjonskasse Gjensidig Forsikringsselskap (KLP)
Total score 23.7 /100
Governance and strategy 9.7 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 3.8 /30
70 State Street Corporation
Total score 23.3 /100
Governance and strategy 16.7 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 5.0 /30
71 Barclays
Total score 23.3 /100
Governance and strategy 6.7 /40
Respecting planetary boundaries 8.3 /30
Adhering to societal conventions 8.3 /30
72 Phoenix Group
Total score 23.0 /100
Governance and strategy 11.2 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 4.0 /30
73 National Bank of Canada
Total score 22.9 /100
Governance and strategy 11.4 /40
Respecting planetary boundaries 5.0 /30
Adhering to societal conventions 6.5 /30
74 Aware Super
Total score 22.6 /100
Governance and strategy 12.2 /40
Respecting planetary boundaries 6.9 /30
Adhering to societal conventions 3.5 /30
75 Julius Bär
Total score 22.6 /100
Governance and strategy 14.8 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.5 /30
76 St. James' Place
Total score 22.5 /100
Governance and strategy 12.2 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 5.0 /30
77 Sberbank
Total score 22.2 /100
Governance and strategy 12.1 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 9.3 /30
78 Manulife
Total score 21.9 /100
Governance and strategy 12.3 /40
Respecting planetary boundaries 3.6 /30
Adhering to societal conventions 6.0 /30
- Willis Towers Watson
Total score 21.9 /100
Governance and strategy 10.3 /40
Respecting planetary boundaries 6.1 /30
Adhering to societal conventions 5.5 /30
80 Commerzbank
Total score 21.8 /100
Governance and strategy 12.9 /40
Respecting planetary boundaries 1.9 /30
Adhering to societal conventions 7.0 /30
- GAM
Total score 21.8 /100
Governance and strategy 12.9 /40
Respecting planetary boundaries 4.4 /30
Adhering to societal conventions 4.5 /30
82 Kasikornbank
Total score 21.7 /100
Governance and strategy 8.1 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 10.3 /30
83 Danske Bank
Total score 21.6 /100
Governance and strategy 4.8 /40
Respecting planetary boundaries 9.9 /30
Adhering to societal conventions 7.0 /30
- Munich Re
Total score 21.6 /100
Governance and strategy 11.0 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 6.5 /30
85 Bank Rakyat Indonesia (BRI)
Total score 21.6 /100
Governance and strategy 11.0 /40
Respecting planetary boundaries 3.6 /30
Adhering to societal conventions 7.0 /30
- Macquarie Group
Total score 21.6 /100
Governance and strategy 9.0 /40
Respecting planetary boundaries 6.1 /30
Adhering to societal conventions 6.5 /30
87 California Public Employees Retirement System (CalPERS)
Total score 21.1 /100
Governance and strategy 9.5 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 3.0 /30
88 Fubon Financial
Total score 21.1 /100
Governance and strategy 8.1 /40
Respecting planetary boundaries 2.8 /30
Adhering to societal conventions 10.3 /30
89 CDP Group
Total score 21.1 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 7.0 /30
90 Aegon
Total score 20.9 /100
Governance and strategy 3.2 /40
Respecting planetary boundaries 9.2 /30
Adhering to societal conventions 8.5 /30
91 UniCredit
Total score 20.7 /100
Governance and strategy 11.0 /40
Respecting planetary boundaries 2.5 /30
Adhering to societal conventions 7.3 /30
92 Ninety One
Total score 20.7 /100
Governance and strategy 13.3 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 1.5 /30
93 IFM Investors
Total score 20.6 /100
Governance and strategy 11.3 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 4.0 /30
94 Groupe BPCE
Total score 20.5 /100
Governance and strategy 5.7 /40
Respecting planetary boundaries 10.6 /30
Adhering to societal conventions 4.3 /30
95 Goldman Sachs
Total score 20.4 /100
Governance and strategy 7.1 /40
Respecting planetary boundaries 8.9 /30
Adhering to societal conventions 4.5 /30
96 Caisse des Depots
Total score 20.3 /100
Governance and strategy 4.8 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 2.8 /30
97 Deutsche Bank
Total score 20.2 /100
Governance and strategy 6.4 /40
Respecting planetary boundaries 7.8 /30
Adhering to societal conventions 6.0 /30
98 Sumitomo Mitsui Trust Holdings
Total score 20.1 /100
Governance and strategy 11.6 /40
Respecting planetary boundaries 6.9 /30
Adhering to societal conventions 1.5 /30
99 Nedbank Group
Total score 19.9 /100
Governance and strategy 9.1 /40
Respecting planetary boundaries 3.1 /30
Adhering to societal conventions 7.8 /30
100 Wells Fargo
Total score 19.8 /100
Governance and strategy 7.1 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 8.5 /30
101 Bank of America
Total score 19.7 /100
Governance and strategy 11.3 /40
Respecting planetary boundaries 2.6 /30
Adhering to societal conventions 5.8 /30
102 Bank Central Asia (BCA)
Total score 19.7 /100
Governance and strategy 8.6 /40
Respecting planetary boundaries 3.9 /30
Adhering to societal conventions 7.3 /30
- TIAA
Total score 19.7 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.0 /30
104 Federated Hermes
Total score 19.4 /100
Governance and strategy 5.5 /40
Respecting planetary boundaries 8.3 /30
Adhering to societal conventions 5.5 /30
105 Industrial and Commercial Bank of China (ICBC)
Total score 19.3 /100