Zimbabwe Banking Sector Customer Satisfaction Survey November 2020





Introduction

This survey focused on gauging the level of customer satisfaction in the Zimbabwe Banking Sector. Like all commercial entities, banks rely on customers for survival. In the competitive banking industry, banks need to differentiate themselves from other banks by providing high-quality customer service.

Industrial Psychology Consultants (Pvt) Ltd does not hold itself liable to any derogatory comments and or opinions expressed as part of and through this survey. Our objective, however, is that this report may be used constructively towards creating a competitive financial services sector that satisfies its customers.

Summary of Key Findings

  1. The Overall Zimbabwe Banking Sector Customer Satisfaction Index is 62%. This suggests that in every 10 of the Banking Sector customers, 6 are satisfied with the services provided by the banks. Please note that this number includes those that were not willing to disclose the name of their bank. This figure therefore would not be aligned to the weighted index calculated as an average of each bank.
  2. Stanbic Bank has the highest weighted score on customer satisfaction of 60% followed by NED Bank (53%), CBZ (52%) and FBC (55%).
  3. The Bank brand contributes more (75%) to the overall customer satisfaction compared to other dimensions.
  4. 76.01% of Zimbabwe Banking Sector customers have low confidence in the local currency.
  5. Turnaround time (which include queues, notifications etc.) is what most (49%) respondents dislike about their banks.
  6. Stanbic Bank was rated as the bank with the best call centre among all banks in Zimbabwe.
  7. The results show that participants rate Nedbank as the best bank when it comes to resolving customer queries.
  8. Of all the banks in Zimbabwe, Nedbank was rated as the best in terms of turnaround time at their branches.
  9. Standard Chartered Bank was rated as the provider of the best technology which serves customers in the Banking Sector.
  10. Standard Chartered Bank was rated as the most trustworthy and the best brand bank in Zimbabwe.
  11. Standard Chartered was rated as the provider of best products and services to customers in the Banking Sector.
  12. 75% of the participants are satisfied with the brands of their banks, whilst 25% are not.



Download the PDF    Downloads     Download the infographic

Back   

This is a "creative and systematic work undertaken to increase the stock of knowledge". It involves the collection, organization, and analysis of information to increase understanding of a topic or issue


If you find this helpful please LIKE and SHARE our content. We have a YouTube channel where you can subscribe and follow us. Just click the notifications bell to get notified whenever we post a new video. We post everyday except on weekends. Click below now to subscribe!!!!


This is a portal where we share knowledge about human resources practices. The knowledge comes from experts across the globe who have volunteered to share research-supported articles, case studies, personal experiences and leading practices.

As you search the articles section under our free resources section, check for articles from some of the global thought leaders who have contributed to this section. The articles cover the breadth and depth of the human resources field. Some of the articles are based on practical experience and others are based on research. We have managed to get top thought leaders to contribute articles.

One of the most valuable parts of the free resources section is the case studies section. This section has some of the best studies on the application of human resources. The most important lesson coming out of the case studies is that the human resources function can contribute tangibly to the performance of the organisation.

Under the community section, you will be able to see a section called the "Ask the Expert". In this section, users can ask questions related to HR and other fields. Experts have been lined up in different fields to answer your questions. Under the "Situations wanted" we allow you to showcase your talent so that employers can view your profile. People will get jobs if they put their short profile on this platform. It is a valuable platform for anyone on the job market. Employers are going to this section to look for talent. We have created a platform for employers and job seekers to meet digitally. Check what others are saying about this platform under the comments section.


Read more about us here.





Related Reports


Employer Response to the Coronavirus and Lockdown Directive Report
Industrial Relations

Employer Response to the Coronavirus and Lockdown Directive Report

Industrial Psychology Consultants (Pvt) Ltd, carried out a survey to assess the employers' responses to the Corona Virus and ...

Read More
USD Remuneration Policy in Zimbabwe
Compensation and Benefits

USD Remuneration Policy in Zimbabwe

Introduction:

This report is on a survey that was carried out by IPC Pvt Ltd ...

Read More
Sexual Harassment Survey
Industrial Relations

Sexual Harassment Survey

Introduction

In a bid to continuously provide a work environment in which all individuals are ...

Read More