The Most Ethical Banks in 2026: A Data-Driven Ranking
Banks hold a unique position in the economy. They control access to credit, mortgages, and savings products for billions of people. They underwrite sovereign debt and corporate expansion. They move trillions daily through global payment systems. Their conduct has consequences that reach far beyond their shareholders.
Yet banking ethics are notoriously difficult to evaluate. Most banks produce glossy sustainability reports. Most claim commitment to financial inclusion. Most say the right things about governance. The question is what independent evidence actually supports.
We scored over 25 major banks across 11 independent ethical dimensions, using data from court filings, regulatory enforcement actions, investigative journalism, and NGO reports. Two dimensions matter most for banking: Honest & Fair Business, which captures governance failures, fraud, and regulatory violations, and Fair Money & Economic Opportunity, which measures financial inclusion, predatory lending practices, and equitable access to capital.
Here are the 10 banks that scored highest in our analysis, ranked by a composite of governance integrity, financial inclusion, and overall ethical performance.
1. PNC Financial Services (PNC) — Composite Score: +11.7
PNC leads our banking ranking with the strongest combined performance on governance and financial inclusion of any major bank we scored.
| Dimension | Score |
|---|---|
| Respect for Cultures & Communities | +25 |
| Fair Money & Economic Opportunity | +20 |
| Better Health for All | +10 |
| Fair Pay & Worker Respect | +10 |
| Honest & Fair Business | +10 |
| Safe & Smart Tech | +10 |
| Fair Trade & Ethical Sourcing | 0 |
| Kind to Animals | 0 |
| No War, No Weapons | 0 |
| Zero Waste & Sustainable Products | 0 |
| Planet-Friendly Business | -30 |
PNC is the only major US bank in our dataset to score positively on both governance (+10) and financial inclusion (+20). Its community reinvestment track record and lending programmes for underserved markets are reflected in the data. The -30 on environmental performance is notable — PNC still finances fossil fuel projects, a pattern common across US banks — but on the dimensions most directly relevant to banking conduct, PNC outperforms every competitor in this ranking.
Overall average: +5.0
View PNC's full score breakdown
2. Towne Bank (TOWN) — Composite Score: +7.3
Towne Bank, a regional bank headquartered in Virginia, demonstrates that smaller institutions can outperform global banks on ethical metrics.
| Dimension | Score |
|---|---|
| Better Health for All | +10 |
| Fair Money & Economic Opportunity | +10 |
| Honest & Fair Business | +10 |
| Fair Pay & Worker Respect | 0 |
| Fair Trade & Ethical Sourcing | 0 |
| Kind to Animals | 0 |
| No War, No Weapons | 0 |
| Respect for Cultures & Communities | 0 |
| Safe & Smart Tech | 0 |
| Zero Waste & Sustainable Products | 0 |
| Planet-Friendly Business | -10 |
Towne Bank scores +10 on both governance and financial inclusion with no severe negative flags. The profile is modest but clean — no major regulatory enforcement actions, no documented predatory lending patterns, no fraud cases in our data. For investors who prioritise absence of harm over scale of impact, this is the strongest profile in the ranking.
Overall average: +1.8
View Towne Bank's full score breakdown
3. Intesa Sanpaolo (ISP) — Composite Score: +4.8
Italy's largest bank by assets is the highest-ranked European institution in our analysis.
| Dimension | Score |
|---|---|
| Fair Money & Economic Opportunity | +10 |
| Honest & Fair Business | +10 |
| Better Health for All | 0 |
| Fair Pay & Worker Respect | 0 |
| Fair Trade & Ethical Sourcing | 0 |
| Kind to Animals | 0 |
| Planet-Friendly Business | 0 |
| Respect for Cultures & Communities | 0 |
| No War, No Weapons | -20 |
| Zero Waste & Sustainable Products | -20 |
| Safe & Smart Tech | -40 |
Intesa scores positively on governance and financial inclusion — two dimensions where most European banks in our data underperform. The -40 on data security reflects documented concerns about cybersecurity incidents and digital infrastructure. The -20 on weapons relates to financing connections identified in independent reports. Still, on core banking ethics — honest conduct and equitable access to financial products — Intesa outperforms most global peers.
Overall average: -5.5
View Intesa Sanpaolo's full score breakdown
4. Truist Financial (TFC) — Composite Score: +4.7
Truist, formed from the 2019 merger of BB&T and SunTrust, scores strongly on financial inclusion and worker treatment.
| Dimension | Score |
|---|---|
| Fair Pay & Worker Respect | +30 |
| Respect for Cultures & Communities | +25 |
| Fair Money & Economic Opportunity | +20 |
| Better Health for All | +10 |
| Honest & Fair Business | 0 |
| Kind to Animals | 0 |
| Fair Trade & Ethical Sourcing | -20 |
| No War, No Weapons | -20 |
| Zero Waste & Sustainable Products | -20 |
| Planet-Friendly Business | -30 |
| Safe & Smart Tech | -60 |
Truist's +30 on worker respect is the highest score any bank in this ranking achieves on that dimension. Its +20 on financial inclusion reflects community banking programmes inherited from its predecessor institutions. The governance score is neutral rather than negative, which in banking is a relative accomplishment. The severe -60 on technology safety reflects documented data breach incidents and IT integration challenges post-merger.
Overall average: -5.9
View Truist's full score breakdown
5. U.S. Bancorp (USB) — Composite Score: +2.6
U.S. Bancorp, parent of U.S. Bank, ranks as the highest-scoring large US bank by overall average, even though its governance score is negative.
| Dimension | Score |
|---|---|
| Safe & Smart Tech | +30 |
| Respect for Cultures & Communities | +25 |
| Fair Money & Economic Opportunity | +20 |
| Planet-Friendly Business | +20 |
| Zero Waste & Sustainable Products | +20 |
| Better Health for All | +10 |
| No War, No Weapons | +10 |
| Fair Trade & Ethical Sourcing | 0 |
| Kind to Animals | 0 |
| Honest & Fair Business | -20 |
| Fair Pay & Worker Respect | -30 |
USB is the only bank in our ranking to score positively on six separate dimensions. Its +30 on technology safety is the highest tech score among all banks analysed. Financial inclusion at +20 and environmental performance at +20 both stand out in a sector where negative scores are the norm. However, the -20 on governance reflects a 2022 consent order and $37.5 million penalty from the OCC over sales practices, and the -30 on worker respect indicates documented labour concerns.
Overall average: +7.7
View U.S. Bancorp's full score breakdown
6. Standard Chartered (STAN) — Composite Score: +1.7
Standard Chartered, the emerging-markets-focused UK bank, posts the strongest financial inclusion score of any bank in this ranking.
Standard Chartered's +30 on financial inclusion reflects its focus on banking the underbanked across Africa, Asia, and the Middle East. Its +20 on worker respect and +10 on ethical sourcing also stand out. But the governance score of -20 reflects historical sanctions violations and compliance failures that resulted in billions in fines. Standard Chartered illustrates the tension between strong financial inclusion work and significant governance shortcomings.
Overall average: -5.0
View Standard Chartered's full score breakdown
7. UniCredit (UCG) — Composite Score: +0.3
UniCredit, Italy's second-largest bank, presents a mostly neutral profile with one notable strength.
| Dimension | Score |
|---|---|
| Planet-Friendly Business | +30 |
| Better Health for All | 0 |
| Fair Money & Economic Opportunity | 0 |
| Fair Trade & Ethical Sourcing | 0 |
| Honest & Fair Business | 0 |
| Kind to Animals | 0 |
| No War, No Weapons | 0 |
| Respect for Cultures & Communities | 0 |
| Safe & Smart Tech | 0 |
| Zero Waste & Sustainable Products | 0 |
| Fair Pay & Worker Respect | -20 |
UniCredit's +30 on environmental performance is the highest planet score among all banks in this ranking. On governance and financial inclusion, the bank scores neutral — no major documented violations, but also no standout positive evidence in our independent sources. The -20 on worker respect reflects restructuring-related labour disputes. For investors screening specifically for environmental performance within banking, UniCredit presents an unusual case.
Overall average: +0.9
View UniCredit's full score breakdown
8. Raiffeisen Bank International (RBI) — Composite Score: -1.5
Raiffeisen, the Austrian bank, scores positively on governance but negatively on weapons-related financing.
| Dimension | Score |
|---|---|
| Fair Pay & Worker Respect | +10 |
| Honest & Fair Business | +10 |
| Safe & Smart Tech | +10 |
| Better Health for All | 0 |
| Fair Trade & Ethical Sourcing | 0 |
| Kind to Animals | 0 |
| Respect for Cultures & Communities | 0 |
| Zero Waste & Sustainable Products | 0 |
| Fair Money & Economic Opportunity | -10 |
| Planet-Friendly Business | -30 |
| No War, No Weapons | -40 |
Raiffeisen's +10 on governance stands out — only three banks in this entire ranking score positively on that dimension. Its worker respect score of +10 also reflects positively. The -40 on weapons relates to the bank's continued operations in Russia following the 2022 invasion of Ukraine, which has drawn scrutiny from regulators and civil society groups alike. The -10 on financial inclusion contrasts with the bank's stated commitment to Central and Eastern European markets.
Overall average: -4.5
View Raiffeisen's full score breakdown
9. Lloyds Banking Group (LLOY) — Composite Score: -2.0
Lloyds, the UK's largest retail bank, scores positively on financial inclusion but carries a negative governance mark.
| Dimension | Score |
|---|---|
| Respect for Cultures & Communities | +25 |
| Better Health for All | +20 |
| Fair Money & Economic Opportunity | +10 |
| Safe & Smart Tech | +10 |
| Zero Waste & Sustainable Products | 0 |
| Honest & Fair Business | -10 |
| Kind to Animals | -10 |
| Fair Trade & Ethical Sourcing | -20 |
| No War, No Weapons | -20 |
| Planet-Friendly Business | -20 |
| Fair Pay & Worker Respect | -50 |
Lloyds scores +10 on financial inclusion, reflecting its dominant position in UK retail banking and documented community lending activity. The -10 on governance relates to the PPI mis-selling scandal that ultimately cost the bank over 22 billion pounds — the largest consumer redress exercise in UK financial history. The severe -50 on worker respect reflects documented concerns about branch closures, workforce reductions, and employee treatment.
Overall average: -5.9
View Lloyds' full score breakdown
10. WSFS Financial (WSFS) — Composite Score: -6.7
WSFS Financial, a Delaware-based community bank, rounds out the top 10 with a neutral governance score but negative financial inclusion performance.
| Dimension | Score |
|---|---|
| Respect for Cultures & Communities | +25 |
| Better Health for All | 0 |
| Fair Trade & Ethical Sourcing | 0 |
| Honest & Fair Business | 0 |
| Kind to Animals | 0 |
| No War, No Weapons | 0 |
| Planet-Friendly Business | 0 |
| Safe & Smart Tech | 0 |
| Zero Waste & Sustainable Products | 0 |
| Fair Money & Economic Opportunity | -20 |
| Fair Pay & Worker Respect | -20 |
WSFS's profile is defined by the absence of major governance failures. The +25 on community respect reflects documented community engagement in the Delaware Valley region. The -20 on financial inclusion is concerning for a self-described community bank, flagging potential gaps between stated mission and documented outcomes. Its inclusion here says less about WSFS's excellence and more about how poorly the broader banking sector performs.
Overall average: -1.4
View WSFS Financial's full score breakdown
The Banks That Didn't Make It
Several of the world's most prominent banks scored poorly enough to warrant specific mention.
JPMorgan Chase (JPM) — Average: -18.6
The world's largest bank by market capitalisation scored -80 on Honest & Fair Business — the worst governance score of any bank in our dataset. This reflects a documented history of regulatory penalties exceeding $35 billion since 2008, including settlements related to mortgage fraud, foreign exchange manipulation, and precious metals spoofing. JPMorgan scores -20 on financial inclusion despite its size and reach.
View JPMorgan's full score breakdown
Goldman Sachs (GS) — Average: -8.6
Goldman scores -60 on governance, driven by the 1MDB scandal and a pattern of regulatory settlements. Its +10 on financial inclusion is a relative bright spot, reflecting some consumer banking efforts through Marcus, but it does not offset the governance deficit.
View Goldman Sachs' full score breakdown
Morgan Stanley (MS) — Average: -20.5
Morgan Stanley scores -60 on both governance and technology safety. The governance score reflects enforcement actions including a $60 million fine for data security failures involving decommissioned servers. Its overall average of -20.5 is the lowest of any bank we analysed.
View Morgan Stanley's full score breakdown
Wells Fargo (WFC) — Average: -15.0
Wells Fargo's -30 on governance reflects the fake accounts scandal that resulted in billions in fines and a Federal Reserve asset cap that remains in place. Its -20 on financial inclusion is particularly damaging for a bank that built its brand on community banking.
View Wells Fargo's full score breakdown
Deutsche Bank (DBK) — Average: -18.2
Deutsche Bank scores -40 on governance, reflecting a long history of regulatory penalties across money laundering, Libor manipulation, and sanctions violations. Every one of its 11 dimension scores is zero or negative except for health (+20).
View Deutsche Bank's full score breakdown
BNP Paribas (BNP) — Average: -11.8
BNP scores -30 on governance, driven by its record $8.9 billion fine in 2014 for sanctions violations involving Sudan, Cuba, and Iran. The -40 on weapons relates to documented involvement in financing arms-related transactions.
View BNP Paribas' full score breakdown
HSBC (HSBA) — Average: -12.3
HSBC scores -30 on governance, reflecting penalties related to money laundering compliance failures, most notably the $1.9 billion settlement with US authorities in 2012. Its +10 on financial inclusion reflects global microfinance and emerging-market banking activity, but this is outweighed by systemic governance failures.
View HSBC's full score breakdown
What the Data Reveals About Banking Ethics
Three patterns emerge from scoring 25+ banks across 11 ethical dimensions.
Governance is the sector's weakest point. Only three banks in our entire dataset scored positively on Honest & Fair Business: PNC (+10), Towne Bank (+10), and Raiffeisen (+10). The average governance score across all banks analysed is approximately -20. This is a sector defined by regulatory penalties, compliance failures, and documented misconduct.
Financial inclusion does not correlate with size. The bank with the highest financial inclusion score is Standard Chartered (+30), which focuses on emerging markets. The largest banks by assets — JPMorgan (-20), Citigroup (-30), and Bank of America (-20) — all score negatively on financial inclusion. Scale does not automatically translate into equitable access.
Regional and community banks outperform. The top three positions in this ranking belong to banks outside the global systemically important institutions (G-SIBs) list. PNC, Towne Bank, and Intesa Sanpaolo demonstrate that institutions with narrower geographic focus and simpler business models tend to accumulate fewer documented ethical failures.
How We Score Banks
Every score on Mashinii is built from independently verifiable sources: court filings, regulatory enforcement actions, investigative journalism, and NGO reports. Banks cannot influence their scores through sustainability reports or ESG disclosures.
We score across 11 independent dimensions — not a single blended rating. This means a bank can score well on financial inclusion but poorly on governance, and you see both. For banking, the two most relevant dimensions are:
- Honest & Fair Business: Captures fraud, regulatory penalties, compliance failures, and governance misconduct. Sourced from court records, enforcement actions, and investigative reports.
- Fair Money & Economic Opportunity: Measures equitable access to credit, predatory lending patterns, financial inclusion programmes, and economic opportunity. Sourced from regulatory filings, community reinvestment data, and independent research.
Learn more about our methodology
What This Means for Your Portfolio
If you hold a diversified portfolio or any major index fund, you almost certainly own shares in several of the banks listed above — including the ones at the bottom. The largest banks by market capitalisation are heavily represented in global indices, which means your passive investments may be funding institutions with documented records of fraud, sanctions violations, and predatory lending.
You can find out in under 60 seconds.