GCB Bank emerges top banking brand in Global InfoAnalytics’ half-year report
Global InfoAnalytics Ltd., renowned for its astute research in the financial sector, unveiled its half-year banking brand health report, showcasing GCB Bank’s resounding success as the most favored banking brand among respondents.
The comprehensive survey, featuring unprompted brand recall, assigned GCB an impressive score of 0.46 out of 3, securing the coveted top spot. Trailing closely, ADB clinched the second position with a score of 0.37, while Ecobank secured a notable third place with a score of 0.21.
Within the foreign banks’ category, Ecobank asserted its prominence by topping the table with a score of 0.21, followed by Absa with 0.17, and Access with 0.16. In the indigenous banks’ realm, GCB reaffirmed its dominance, with ADB in second place and Fidelity in third.
A significant trend revealed in the survey is the positive shift in customer loyalty, with 77% of respondents affirming their allegiance to their respective banks. This represents a noteworthy 3% increase from the data recorded in the December 2022 survey.
Moreover, disloyalty witnessed a notable decline, with only 5% of respondents expressing dissatisfaction compared to the 7% reported in December 2022. Additionally, 18% remained neutral, a slight decrease from the 19% recorded previously.
GCB Bank emerged as the undisputed leader on the customer loyalty scale, achieving a remarkable score of 1.78 out of a possible 3, outpacing ADB, which previously held the highest score of 1.81 in December 2022.
Societe Generale remarkably secured the first position on the Net Promoter Score (NPS), recording an impressive +43.2%. This noteworthy improvement propelled the industry’s average NPS to 12.9%, showcasing a significant enhancement from the figure recorded in December 2022, which stood at -11.18.
Additionally, the survey highlighted a positive correlation between NPS and account age. Customers with accounts older than five years demonstrated a highly positive NPS of 20.1%, while those with accounts less than a year old reflected a negative NPS of -17.4%.
Global InfoAnalytics Ltd. conducted this in-depth survey across all 16 regional capitals, engaging a sample size of 1,623 respondents, with interviews conducted between 12th and 14th July 2023.
The comprehensive findings presented in the report provide valuable insights into the dynamic landscape of the Ghanaian banking sector, empowering banks to refine their strategies and better cater to the diverse needs of their clientele.
