GTBank Dethrones Zenith Bank as Best Retail Banking Firm

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Top audit company, KPMG Nigeria, in its 2019 Nigeria Banking Industry Customer Experience Survey released in Lagos some days ago, ranked GTBank as the best retail banking institution in Nigeria.

The bank scored 74.2 percent, dethroning Zenith Bank, which held the top spot previously. Zenith Bank came second with 73.4 percent. The report stated that the top two performers had remained on the top spots for the fourth consecutive year.

The biggest mover was Sterling Bank, which came in third. The lender was one of the biggest movers in the banking industry since 2017, scoring 72.1 percent, same point with Access Bank. First Bank and UBA, also part of the biggest movers this year, occupied the 5th and 7th positions respectively.

The company, in the report, noted that the outcome was the results of a survey that was completed across the second and third quarters of 2019 and collected via face-to-face and online survey methodology.

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According to the survey, which covered 25,466 retail customers, 3,045 SMEs and 369 commercial/corporate organisations, “After the 2017 peak, we have now seen two years of decline in overall customer experience (CX) performance in the retail segment with nearly half of the rated banks falling below the industry average.”

Other parts of the report showed that in the SME segment in the period under review, there were lower levels of overall satisfaction for SMEs but Fidelity Bank and Ecobank made the greatest improvements.
It was disclosed that in the corporate segment, which also recorded a lower level of performance, Citibank and GTBank maintained top spots, while Standard Chartered and Access Bank made the best improvement to occupy the top five positions at 3rd and 5th places respectively.
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