By: Emmanuel Amoah
The 2023 Ghana Consumer Satisfaction Index (GH-CSI) report, released by the Chartered Institute of Marketers Ghana (CIMG), reveals a concerning dip in service quality within the consumer banking sector. According to the report, service quality fell by six points, from 95% in 2022 to 89% in 2023.
Customer satisfaction for consumer banking also saw a slight decline, dropping from 95% in 2022 to 93% last year, while customer loyalty fell more sharply, from 81% to 74% within the same period.
In contrast, business banking showed some improvement, with service quality rising from 93% to 94% and customer satisfaction remaining steady. However, customer loyalty in business banking experienced a slight dip, falling from 80% to 79%.
This downward trend in consumer banking aligns with findings from PwC, an audit and accounting firm, which also highlighted similar concerns in its recent report.
For Graphic Business, these findings serve as a critical wake-up call for banks to enhance their customer service. The banking sector plays a vital role in the economy, and it’s essential that banks not only deliver exceptional service but also ensure that their actions match the promises they make in their marketing campaigns.
Too often, banks emphasize their commitment to customer service through media channels, but the reality experienced by customers in banking halls falls short of these claims. Instead of speaking for their customers, banks should focus on listening to and learning from their customers’ experiences.
We believe that the GH-CSI report, which evaluates banks’ performance across three key areas service quality, customer satisfaction, and customer loyalty should be taken seriously. These factors are crucial for the long-term success of any institution.
The report highlights significant areas for improvement in consumer banking, particularly in aspects such as tangibility, reliability, responsiveness, assurance, empathy, and ease of use. These variables were used to gauge the overall quality of service, and the consistent decline in these metrics is concerning.
Graphic Business shares the belief that this report is more than just a reflection of banking service levels; it captures the voices and trust of Ghanaians who depend on these services. The findings offer banks a unique opportunity to realign with the evolving needs and expectations of their customers.
As we mark World Customer Service Month, we urge banks to treat this report as a tool for self-assessment and improvement, rather than an occasion for promotional activities that do not reflect the actual service being provided. Customer service should be a continuous process, not a one-time event.
While we call for action, we also commend the banks that were recognized for their outstanding performance in the survey, including Prudential Bank Limited, OmniBSIC Bank Ghana Limited, Consolidated Bank Ghana Limited, FirstBank Ghana Limited, CalBank PLC, Access Bank Ghana PLC, Absa Bank Ghana Limited, Standard Chartered Bank, and Agricultural Development Bank.
We hope these institutions continue to excel, while those that were not mentioned take steps to improve and earn recognition in the future.
