GCB is Ghana’s most popular bank – Report
GCB Bank has been adjudged the most popular banking brand in the country, by research firm, Global InfoAnalytics.
Based on the bank’s unprompted brand recall metric, GCB scored an average of 0.87 out of 3 to clinch the top spot. According to Global InfoAnalytics, 662 respondents of the 1,619 surveyed, mentioned GCB in the unprompted brand recall.
In second place was ADB, with a score of 0.63 and Absa, third, with 0.43.
ADB scored a weighted average of 0.63 out of 3 to give them second place, 472 respondents mentioned ADB in the unprompted brand recall.
Absa scored a weighted average of 0.43 out of 3 to give them third place, 297 respondents mentioned Absa in the unprompted brand recall.
For the foreign banks’ category, Absa tops the table with 0.43, followed by Ecobank with 0.41 and Access with 0.38.
Absa scored a weighted average of 0.43 out of 3 to give them first place in the unprompted brand recall ranking for foreign banks.
Ecobank scored a weighted average of 0.41 out of 3 to give them second place. 324 respondents mentioned Ecobank in the unprompted brand recall.
Access scored a weighted average of 0.38 out of 3 to give them third place when looking at foreign banks. 280 respondents mentioned Access Bank in the unprompted brand recall.
For the indigenous banks, GCB tops the sector, followed by ADB in second place and Fidelity in third. Fidelity scored a weighted average of 0.38 out of 3 to give them third place. 336 respondents mentioned Fidelity in the unprompted brand recall.
Unprompted Brand Recall is a device used to measure brand awareness. Brand awareness is fundamental to success in the marketplace; if consumers are unaware of the brand, they are unlikely to become customers. Factors affecting brand awareness may include but not limited to; Market presence, Level of brand promotion, Brand personality, Branding style, Brand image and reputation, Brand values and Brand story.
Global InfoAnalytics in partnership with NorvanReports, conducts a brand health check survey for the banking sector in Ghana to highlight how the various banks are performing on Key Brand Metrics (KBM) and provide insights into the industry. The report also ranks top banks on a number of metrics.
