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Zenith Bank Plc Leads the 2014 Banking Industry Customer Satisfaction Survey Conducted by KPMG

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

Launched in 2007, the KPMG BICSS was created to heighten the consciousness of service delivery among Nigerian banks. In its latest survey, KPMG has expanded the scope of its survey to 28 locations across the country covering about 20,800 retail customers, 3,500 SMEs and 400 corporate/commercial organisations. At the end of the survey, Zenith Bank was announced the leader scoring 77.37% in corporate segment, 77.61% in SME and 75.67% in retail.

A further analysis of the survey showed that Guaranty Trust Bank Plc followed closely behind Zenith Bank in the corporate segment scoring 75.94%, Citibank recorded 75.71%, Diamond Bank 74.26% and Stanbic IBTC Bank Plc scored 73.36%. Other banks that made it to the top in the corporate segment were First Bank Nigeria Ltd 73.35%, Fidelity Bank Plc 72.42%, United Bank for Africa Plc 72.32%, Sterling Bank Plc 72.23% and Skye Bank 72.07%.

In the SME segment, Diamond Bank occupied the 2nd position with 77.22% while Standard Chartered Bank closed as the 3rd best with 77.16%. GTBank recorded 76.61% while Fidelity bank scored 75.35% and Stanbic IBTC Bank scored 75.18%. In this category, others are First Bank 74.93%, Skye Bank 74.43% and Access Bank Plc 74.40%.

In retail banking, Diamond Bank emerged as the 2nd best behind Zenith bank scoring 75.34% followed by GTBank Plc who recorded 75.32% while Standard Chartered Bank recorded 74.55%. In this category, Stanbic IBTC scored 73.48%, Fidelity Bank recorded 74.03, FCMB recorded 73.48%, First Bank scored 72.58%, Sterling Bank 72.5% and Access Bank received 72.11%.

KPMG noted that this year saw an improvement in the customer satisfaction index across major customer segments which 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.

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