The third Ghana Customer Satisfaction Index (GH-CSI) report by the Chartered Institute of Marketing Ghana (CIMG) for the consumer banking sector has shown a slight drop year-on-year (Y\Y) from the rise in 2022.
The report indicates that, overall, 93 percent of customers expressed satisfaction with consumer banking services in all the parameters measured; with 56 percent being extremely satisfied and 37 percent just satisfied.
The study measured service quality, customer satisfaction and customer loyalty in both consumer banking and business banking to establish a standard customer satisfaction index.
In terms of service quality, the six parameters used included: tangibility of service, reliability, responsiveness, assurance, empathy and ease of use, and soliciting responses via online and face-to-face means.
Interestingly, customer loyalty – one of the other measured indices – also showed a significant drop year-on-year, recording a 74 percent performance against the 81 percent recorded in 2022.
That notwithstanding, customer satisfaction for business banking produced a slight increase from the second edition’s 93 percent to 94 percent for 2023.
Based on the survey’s parameters, the star rating of individual banks is as follows: (91-100 percent) five-star; (81-90) four-star; (71-80) three-star; (51-70) two-star; and (0-50) one-star or poor service.
In terms of the individual bank’s performances, 14 banks were rated 5-star in customer satisfaction for consumer banking. The Best Bank in Customer Satisfaction award went to Prudential Bank Limited, while Consolidated Bank Ghana Limited and OmniBSIC Bank Ghana Limited grabbed the second and third respectively.
Seven banks were rated 5-star in Service Quality for consumer banking. First Bank Ghana Limited was rated Best Bank in Service Quality. CalBank PLC and OmniBSIC Bank Ghana Limited placed second and third respectively.
National President-CIMG, Dr. D. Kasser Tee, indicated that the report reflects the voices, sentiments and trust of Ghanaians whose lives are impacted by the services offered through banks. It is therefore an important measure of how well the industry is meeting the needs and expectations of its most valuable asset, the customer.
Ghana’s banking industry has undergone significant changes, from regulatory reforms to the advancement and influence of technology and digital transformation; however, one thing has remained and will continue to remain constant – Customer Satisfaction, which is often derived from service quality among other drivers.
SOURCE: THEBFTONLINE.COM
