A recent banking sector survey has revealed that customers of Bank of Africa (BoA) are the most satisfied customers in the country’s banking space.

According to the research firm, Global InfoAnalytics, Semi-Annual Banking Sector Brand Health Report, 2022, BOA recorded the highest rating among its peers in the Ghanaian banking industry, based on metrics such as customer care and product-use convenience.

 The report showed that BoA led the customer satisfaction rankings with a gap of 3% compared to the second-placed bank in the survey recording a rate of 11.7%.

The BoA was followed by Ecobank with a score of 8.7% customer satisfaction rate in second place and Cal Bank with 7.7% in third place.

The other banks that completed the first 10 customer satisfaction included Agriculture Development Band (ADB) with 7.1%, Ghana Commercial Bank (GCB) with 6.5%, Stanbic with 5.8%, ABSA with 4.8%, OmniBSIC with 4.7%, Fidelity with 4.4% and First Atlantic Bank (FAB) 4.3%.

Regarding brand satisfaction, the survey revealed that most banking customers are satisfied with their brands as 80.64% of respondents indicated that they are extremely satisfied or satisfied with their brands.

However, 15.71% of the respondents said they were neutral, whilst some 3.66% were either extremely dissatisfied/dissatisfied with their brands.  

Global InfoAnalytics defines customer satisfaction as the rating of a customer’s satisfaction with banks based on customer service delivery and product use. The customer assesses the level of satisfaction based on firsthand experience in patronizing banking services and or other banking products with their respective banks as account holders.

It also defined brand satisfaction as the number of times a brand is mentioned on the web against competitors. Share of voice covers both brand awareness and customer engagement, as it reflects how often a brand is seen online.

Head of Service Excellence, Sheilla Gyamfi-Yeboah, touching on what the rating means for the brand, emphasizing that one of the bank’s values is customer–focused.

“My department is solely dedicated to ensuring that our customers are always satisfied.  It is good to know that the efforts we have dedicated toward the well-being of our customers have been recognized, appreciated, and acknowledged by our customers,” she said.