Prudential Bank is Best Bank in Customer Satisfaction — OmniBSIC, CBG 2nd, 3rd respectively

Prudential Bank, one of the foremost banks in the country, has been adjudged the Best Bank in Customer Satisfaction category under Consumer Banking. 

This was contained in the 2023 Ghana Consumer Satisfaction Index (GH-CSI) report released by the Chartered Institute of Marketers Ghana (CIMG)

This comes at a time when the bank is undertaking aggressive innovative reforms to restore its position as a respectable tiered bank in the country.

OmniBSIC Bank Ghana Limited was the first runner-up in the same category, while Consolidated Bank Ghana Limited was adjudged as the second runner-up.  

For the Service Quality category under Consumer Banking, FirstBank Ghana Limited was adjudged the best while CalBank PLC was first runner-up, with OmniBSIC Bank Ghana Limited as the second runner-up.

Access Bank Ghana PLC came up as the Best Bank in Customer Satisfaction under Business Banking while Absa Bank Ghana Limited placed second, with FirstBank Ghana Limited coming third. 

For Net Promoter Score category under the Business Banking, OmniBSIC was crowned the best performer. Consolidated Bank Ghana Limited came second while Standard Chartered Bank placed third.

OmniBSIC Bank was adjudged the Best Bank in Service Quality delivery under Business Banking while Agricultural Development Bank came second, with Access Bank in third placed.

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More room

Despite the achievement, the report revealed that overall service quality in the consumer banking sector has dipped by six points. 

The service quality which stood at 95% in the 2022 report based on research conducted among customers of various banks saw a sharp decline to 89%.

Customer satisfaction for consumer banking, on the other hand, suffered a marginal decline from 95% in 2022 to 93% last year while Customer Loyalty for Consumer Banking also reduced from 81% in 2022 to 74% in 2023. 

Meanwhile, service quality delivery and customer satisfaction in business banking both appreciated from 93 to 94% while customer loyalty for business banking slightly declined from 80% in 2022 to 79% in 2023. 

The report is a comprehensive study that measures the performance of banks on three critical constructs that are essential for the long-term survival of any institution, service quality, customer satisfaction and customer loyalty. 

Performance of banks

Various banks across the country, according to the report, witnessed a consistent decline in variables measured by the survey for the determination of the quality of service in consumer banking. 

These include tangibles, reliability, responsiveness, assurance, empathy and ease of use.