The 2023 Ghana Consumer Satisfaction Index (GH-CSI) report, published by the Chartered Institute of Marketers Ghana (CIMG), highlights a troubling decline in service quality within the consumer banking sector. The report shows a drop of six points, from 95% in 2022 to 89% in 2023.
In terms of customer satisfaction, the banking sector experienced a slight decrease, falling from 95% in 2022 to 93% last year. Customer loyalty also took a hit, decreasing from 81% to 74% in the same timeframe.
Conversely, the business banking segment recorded an increase in service quality, rising from 93% to 94%. However, customer loyalty within this sector saw a minor decline, from 80% to 79%.
This decline in consumer banking service quality coincides with a similar report from PwC, an audit and accounting firm, emphasizing the need for immediate action.
For Graphic Business, these findings are a significant wake-up call for banks to prioritize customer service improvements. The banking sector is integral to the economy, and institutions must consistently provide high-quality services that align with their advertised commitments.
Frequently, banks promote their customer service credentials through various media channels, yet the actual experience of customers in banking halls often contradicts these claims. Rather than speaking on behalf of their customers, banks should actively listen to and learn from their clients’ feedback.
The GH-CSI report serves as a crucial assessment tool, measuring banks across three key areas: service quality, customer satisfaction, and customer loyalty. These factors are vital for the long-term viability of any financial institution.
The report also points to a consistent decline in several critical service quality indicators in consumer banking, including tangibility, reliability, responsiveness, assurance, empathy, and ease of use.
Graphic Business believes this report is not just a reflection of current service levels but also captures the sentiments and trust of Ghanaians who rely on banking services. It presents banks with an opportunity to realign with customer expectations and needs.
As World Customer Service Month is celebrated, we urge banks to view the report as a catalyst for self-improvement, rather than merely a chance to promote services that may not reflect reality. Customer service should be regarded as an ongoing commitment, rather than a one-off effort.
While we advocate for improvement across the sector, we also commend several banks for their exemplary performance in the report, 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, and that others not mentioned will strive for improvement to achieve recognition in the future.
