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Zenith Bank emerges Best Customer-Focused Bank in KPMG survey

By BusinessNews Staff on May 30, 2014

Zenith Bank Plc has emerged the best customer-focused bank in the 2014 Banking Industry Customer Satisfaction Survey (BICSS) conducted by KPMG. The bank recorded the highest scores in retail, small and medium scale (SME) and corporate/commercial customer segments that the survey covered.

The KPMG BICCS was launched in 2007 to heighten the consciousness of service delivery among Nigerian banks. In the latest survey, KPMG said it expanded the scope of the survey to 28 locations across the country covering about 20,800 retail customers, 3,500 SMEs and 400 corporate/commercial organisations.

At end of the survey, Zenith Bank emerged leader, scoring 77.37 per cent in corporate segment, 77.61 per cent in SME and 75.67 per cent in retail.

An analysis of the survey showed that Guaranty Trust Bank Plc placed second behind Zenith Bank in the corporate segment, scoring 75.94 per cent. Citibank recorded 75.71 per cent while Diamond Bank Plc, Stanbic IBTC Bank Plc scored 74.26 per cent and 73.36 per cent respectively.
Other banks that made the top 10 in the corporate segment included: First Bank Nigeria Limited (73.35 per cent); Fidelity Bank Plc(72.42 per cent); United Bank for Africa Plc (72.32 per cent); Sterling Bank Plc 972.23 per cent) and Skye Bank Plc 972.07 per cent).

In the SME segment, Diamond Bank occupied the second position with 77.22 per cent, while Standard Chartered Bank closed as the third best with 77.16 per cent. GTBank recorded 76.61 per cent, while Fidelity Bank and Stanbic IBTC Bank scored 75.35 per cent and 75.18 per cent in that order.

Others in the category included: First Bank (74.96 per cent); FCMB (74.93 per cent); Skye Bank (74.43 per cent) and Access Bank Plc (74.40 per cent).
In retail banking, Diamond Bank ended as the second best behind Zenith Bank, scoring 75.34 per cent. GTBank Plc recorded 75.32 per cent while Standard Chartered Bank recorded 74.55 per cent.

Stanbic IBTC Bank scored 73.48, just as Fidelity Bank and FCMB recorded 74.03 per cent and 73.48 per cent respectively. First Bank scored 72.58 per cent, Sterling Bank, 72.5 and Access Bank 72.11 per cent.

KMPG noted that this year, was an improvement in the customer satisfaction index across the major customer segments, which it said, reflected the banks’ continued investments towards enhancing service quality and creating better customer experiences.
“More than half of the customers that will switch banks will do so because of service quality issues. Clearly, the quality of customer experience will continue to be the key competitive battleground for Nigerian banks,” KPMG said.

[This Day]

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