Dr. Daniel Kasser Tee (L), John Awuah (2nd L) among other dignitaries at the launch of the report
Customer Satisfaction for traditional banking has recorded an increase from 94% in 2021 to 95% in 2022 according to the Customer Satisfaction Index 2022 Report conducted by the Chartered Institute of Marketing Ghana (CIMG).
Traditional banking according to the report signifies customers who frequent the bank for business transacting, indicating that the service quality measure score for traditional banking under tangibles recorded a score of 97% in 2022 as against 87% in 2021.
Reliability of services was 95% and 88% in 2022 and 2021 respectively while responsiveness was 92% in 2022 and 89% in 2021.
Also, assurance recorded 97% in 2022 and 89% in 2021, and empathy 92% and 88% in 2022 and 2021 respectively, summing up to a 95% increase in customer satisfaction for traditional banking.
Similarly, service quality under the Consumer Banking category saw an increase from 90% in 2021 to 95% in 2022.
With Remote Banking, its service quality measure recorded a decrease from 89% in 2021 to 88% in 2022.
Service of customer loyalty recorded an increase of 81% in 2022 as compared to 73% in 2021. Net Promoter scores by banks recorded 59% in 2022 as compared to 44% in 2021.
The level of service quality in business banking recorded 93% in the total service quality measure and 95% in total service quality importance. Customer satisfaction in traditional banking was 93%.
As compared to the CIMG-CSI scores in 2021, which recorded an overall score of 95% based on the top five averages of top-performing banks, the 2022 scores showed an increase of 98.2%.
Chief Executive Officer (CEO) of the Ghana Association of Banks (GAB), John Awuah, commended the Chartered Institute of Marketing Ghana (CIMG) for releasing the 2022 Customer Satisfaction Index Report, which covers two separate studies; Wave 2 for Customer Banking and Baseline for Business.
Mr. Awuah, who chaired the launch of the report, said the Customer Satisfaction Index, which was conducted by CIMG and stakeholders, including the Ghana Association of Banks, captured 3,300 consumers and 2,200 business customers across 21 banking institutions, providing a true reflection of how customers perceive the banking industry.
“The CIMG report is a true reflection of how customers see the banking sector. It is not a deliberate attempt to mark a bank down as the research process involved a lot of stakeholders including the Ghana Association of Bankers in bringing out the final report” he said.
In response to complaints from banks last year after the maiden report was released, the National President of CIMG, Dr. Daniel Kasser Tee, equivocally stated that the customer satisfaction index report now included business banking.
In their opinion, the report for their institution was not a good reflection of their performance because their focus was more on business banking rather than customer banking.
“By this, we collected and analyzed separate data for Consumer banking and Business banking. Feel free to use the one that reflects your business better, but we beg you to also take steps to address concerns from the other side. This is because service quality excellence should be institutionalized and made available to all clients, without discrimination across business segments” he said.
Additionally, he urged banks to understand how they fared across each of the five dimensions of service quality, overall customer satisfaction, and customer loyalty, beyond their positions on the various tables.
By Prince Fiifi Yorke