Banking: Bank of Africa has the most satisfied customers in the country – Report
Customers of Bank of Africa (BoA) are said to be the most satisfied customers in the country’s banking space.
This is according to the 2022 Semi-Annual Banking Sector Brand Health Report by Ghanaian research firm, Global InfoAnalytics.
Per the report by Global InfoAnalytics, BoA leads customer satisfaction rankings with a rate of 11.7%.
BoA was followed by Ecobank with 8.7% customer satisfaction rate. In third place was Cal Bank with 7.7% customer satisfaction rate.
Global InfoAnalytics defines customer satisfaction as the rating of a customer’s satisfaction of 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.
Regarding brand satisfaction, the survey revealed that most banking customers are satisfied with their brands as 80.64% of respondents indicating that they are extremely satisfied or satisfied with their brands. 15.71% of the respondents were neural whilst 3.66% were either extremely dissatisfied/dissatisfied with their brands.
Brand satisfaction is 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.
Brand Equity
For the first half of 2022, Global InfoAnalytics scored BoA a brand equity of 0.81%.
With a score of 0.81%, BoA had one of the lowest brand equity scores among its peers.
In the brand equity category, GCB emerged as the bank with the highest brand equity with a score of 44.23%.
Brand equity describes the level of sway a brand name has in the minds of consumers.
Organizations establish brand equity by creating positive experiences that entice consumers to continue purchasing from them over competitors who make similar products.
