GCB outperforms rivals, claims top spot in customer loyalty rankings
Global InfoAnalytics’ recently released Half-Year Bank Brand Health report has unveiled Ghana Commercial Bank (GCB) as the undisputed leader in the realm of customer loyalty. With an impressive score of 1.78 out of a possible 3, GCB has surpassed its competitors, securing the coveted top spot in the banking industry.
SG Bank emerged as a strong contender, claiming the second position with a commendable score of 1.73, while Agricultural Development Bank (ADB) closely trailed with a score of 1.70, securing the third place.
The industry at large experienced an encouraging upward trend in customer loyalty, with the average weighted score reaching 1.53 out of 3. This represents a notable improvement from the 1.48 recorded in December 2022, signaling a positive shift in customer sentiment and engagement within the banking sector.
GCB’s meteoric rise to the pinnacle of customer loyalty saw it dethroning ADB, the previous leader with a score of 1.81 in December 2022. ADB’s current score of 1.70 saw it being relegated to the third spot, while SG Bank capitalized on the opportunity to seize the second position.
To determine the weighted scores for each brand, respondents were assigned numerical values ranging from -3 to 3 based on their responses, with -3 signifying “strongly disagree” and 3 representing “strongly agree.” The computation of the weighted average offered valuable insights into each brand’s standing.
The report revealed a noteworthy surge in customer loyalty, with a significant 77% of respondents expressing their unwavering allegiance to their respective banks. Only 5% of customers reported a lack of loyalty, reflecting a notable improvement from the 7% recorded in December 2022. Additionally, the number of neutral respondents remained marginally lower, with 18% in the current report compared to 19% in December 2022.
As the banking industry intensifies its focus on nurturing customer relationships, GCB’s remarkable performance underscores the criticality of fostering strong and enduring connections with clients. The industry’s overall positive trajectory signals a collective commitment among banks to enhance brand appeal and solidify customer loyalty in an increasingly competitive landscape.
The half-year report serves as a valuable benchmark for industry players, guiding them to capitalize on customer sentiment, identify areas for improvement, and foster long-lasting relationships in the dynamic financial market.
