The best banks in Côte d’Ivoire in terms of customer satisfaction reveal varied performances. In May 2024, data from SagaBrand show which financial institutions stand out in a competitive market.

Importance of customer satisfaction in the banking sector

Customer satisfaction is an important indicator of success for banks in Côte d’Ivoire. In a constantly evolving African financial sector, meeting customer expectations promotes loyalty, retention, and recommendation. SagaBrand, the leading brand health observatory in Africa, tracks Ivorian consumer opinion monthly through its online panel, SagaPoll. In May 2024, the results reveal which banks have won the hearts of customers and which still have room for improvement.

Analysis of the best banks in Côte d’Ivoire in 2024

SagaBrand evaluates 25 key performance indicators (KPIs) to determine the best banks in Côte d’Ivoire, including customer satisfaction. The following ranking is based on the net satisfaction score, which subtracts dissatisfaction from satisfaction.

Ecobank

• Satisfaction rate : 38 %
• Analysis : Ecobank, a pan-African banking conglomerate based in Togo, stands out for its high satisfaction rate and low dissatisfaction rate. In 2022, the bank was also praised for the perceived quality of its services, particularly in Francophone countries.

UBA – United Bank for Africa

Satisfaction Rate : 33 %

• Analysis : UBA, operating in 20 African markets, ranks second thanks to its strong performance in customer satisfaction. The Nigeria-based multinational group continues to expand its footprint and improve its services.

BICICI – Banque Internationale pour le Commerce et l’Industrie de Côte d’Ivoire

• Satisfaction Rate : 32 %
• Analysis : Formerly a subsidiary of BNP Paribas, now public since 2023, BICICI ranks third with a score close to that of UBA. The transition to local management seems to be paying off in terms of customer satisfaction.

SGBCI – Société Générale Côte d’Ivoire

• Satisfaction rate : 32 %
• Analysis : A subsidiary of Société Générale, SGBCI maintains a good position in the market thanks to well-perceived services by consumers.

Banque Atlantique

• Satisfaction rate : 31 %
• Analysis : Although it has the lowest dissatisfaction rate (12 %), Banque Atlantique must manage a high neutrality rate ( 46 % ), indicating some indifference from customers. This requires a targeted strategy to convert neutral customers into loyal promoters.

NSIA Banque

• Satisfaction rate : 26 %
• Analysis : With the highest dissatisfaction rate (20%), NSIA Banque must urgently reassess its services and understand the causes of this negative perception to improve its image and performance.

SIB – Société Ivoirienne de Banque

• Satisfaction rate : 24 %
• Analysis : A subsidiary of Moroccan bank Attijariwafa, SIB continues to strengthen its presence in Côte d’Ivoire despite challenges faced by the local banking sector.

Banking context in Côte d’Ivoire

The Ivorian banking sector, the largest in the WAEMU region, is undergoing major changes similar to those observed across Africa. Large international financial institutions like Standard Chartered and Barclays have withdrawn from the continent, making way for local and regional players. This dynamic underscores the importance of customer satisfaction for banks aiming to maintain or improve their market position.

Challenges and opportunities for Ivorian banks

Ivorian banks must navigate a complex environment marked by increased competition, the withdrawal of major international institutions, and the need for innovation. To maintain and improve customer satisfaction, they need to focus on several key aspects.

Improving service quality

Banks must invest in staff training and process optimization to offer impeccable customer service. Special attention should be given to quickly and efficiently resolving customer issues.

Innovation and digitalization

The digitalization of banking services is essential to meet the expectations of modern customers. Banks should develop user-friendly and secure digital solutions, such as mobile apps and online banking services, to facilitate transactions and enhance the customer experience.

Financial accessibility

Offering financial products accessible to a wide clientele, including small and medium-sized enterprises (SMEs), is crucial for enhancing customer satisfaction. Banks need to design offers tailored to the specific needs of different market segments.

Conclusion

Customer satisfaction remains a major challenge for banks in Côte d’Ivoire. The SagaBrand data from May 2024 show that Ecobank, UBA, and BICICI are the leaders in customer satisfaction. However, all banks must continue to innovate and improve service quality to maintain their competitiveness.

By investing in customer service, digitalization, and financial accessibility, Ivorian banks can not only meet their customers’ expectations but also strengthen their market position in a constantly evolving context.