KBA ranks Co-operative bank as best in customer experience
Wednesday March 01 2023
Co-operative Bank of Kenya offered the best customer experience beating 38 other banks in the latest ranking on customer experience by the Kenya Bankers Association (KBA).
The survey, whose main aim is to evaluate the quality of customer service offered by the banking industry in Kenya, put Co-operative Bank ahead of Family Bank, with KBA noting that the customers surveyed were generally satisfied with services offered by local lenders.
This is despite the recent developments where Kenyans have complained of poor services offered by various banks on social media, especially Twitter.
KCB, the second-largest bank in asset size, was third in the ranking that started in 2018.
“Based on customer experience ranking, respondents were asked to rank on a scale of 1 to 5 their overall experience with the main bank, and the respondents’ views are resoundingly positive,” said KBA in the report that was released yesterday.
Among the nine tier-one banks, Co-operative Bank, which is listed at the Nairobi Securities Exchange (NSE), led in the ranking. It was followed by KCB and Standard Chartered.
Family Bank led in the category of mid-sized lenders, head of National Bank which came second while Prime Bank was third in the ranking that showed customer service by Kenyan lenders had improved owing to digitization.
ABC Bank was ranked the top among the tier three lenders, Sidian Bank was second while Credit Bank came third.
Out of a maximum score of five, 96.5 percent of the respondents rated their customer experience with their banks above three.
Slightly over half of the respondents rated their customer experience with their main banks at five, being the highest rating.
“In addition, 35.4 percent rated it at four and 10.4 percent rated their customer experience at three.”
The 2022 Banking Industry Customer Satisfaction Survey obtained 33,801 responses compared to 29,791 responses received in the 2021 Survey.
This is an annual survey conducted online using the Survey Monkey survey tool.
However, the chief executive officer of KBA Habil Olaka, noted some lingering challenges, especially in the area of facilitating satisfactory experiences for persons with disability.
“Based on this report’s findings, there is a need to redouble efforts towards ensuring independent access to banking services for this important segment of the banking public,” said Olaka.