The top banks in Côte d’Ivoire for customer satisfaction

Discover the top banks in Côte d’Ivoire in terms of Customer Satisfaction as of May 2024. Customer satisfaction is a crucial indicator of a financial institution’s success. To achieve high scores, banks must meet customer requirements and expectations, fostering loyalty, retention, and advocacy. So let’s dive in with the SagaBrand tracker…

The banking environment in Côte d’Ivoire

Côte d’Ivoire’s banking sector, the largest in the WAEMU (West African Economic and Monetary Union), is undergoing significant changes akin to those in the broader African banking industry. In recent years, many foreign financial institutions have withdrawn from the continent. Major international banks like Standard Chartered, Barclays, BNP Paribas, and Société Générale have all scaled back their African operations. This trend is evident in Côte d’Ivoire, highlighting the critical importance of customer satisfaction for banks aiming to sustain and enhance their market position.
SagaBrand, Africa’s largest Brand Health Tracker, monitors consumer sentiment across the continent on a monthly basis. We leverage the SagaPoll online panel to survey Ivorian members about their experiences with various banks and their levels of satisfaction. Findings from our online panel in Côte d’Ivoire reveal which banking brands are winning consumers’ hearts and which ones have room for improvement.

Which are the best banks in Côte d’Ivoire?

SagaBrand, the pan-African brand tracker, monitors 25 Key Performance Indicators (KPIs), including customer satisfaction. In this article, we look at the Net Satisfaction score calculated by deducting dissatisfaction from satisfaction.

Below is the Côte d’Ivoire banks ranking based on the Customer Satisfaction score (net):

1. Ecobank (pan-African group based in Togo)
2. UBA – United Bank for Africa (pan-African group based in Nigeria)
3. BICICI – Banque Internationale pour le Commerce et l’Industrie de Côte d’Ivoire  (publicly owned since 2023)
4. SGBCI – Société Générale Côte d’Ivoire (subsidiary of French Société Générale)
5. Banque Atlantique (subsidiary of Banque Centrale Populaire from Morocco)
6. NSIA Banque (banking and insurance group from Côte d’Ivoire)
7. SIB – Société Ivoirienne de Banque (subsidiary of Moroccan Attijariwafa Bank)

Which brands stand out among the top-ranked banks in Côte d’Ivoire?

• Ecobank: the pan-African banking conglomerate, leads the ranking with a 38% customer satisfaction score. It also has one of the lowest dissatisfaction rates with Banque Atlantique. In 2022, Ecobank also demonstrated a strong performance on Quality perception, particularly in French-speaking countries.
• UBA – United Bank for Africa: UBA, a multinational pan-African financial services group operating in 20 African markets, secures the 2nd spot in the ranking with a 33% Customer Satisfaction score.
• BICICI – Banque Internationale pour le Commerce et l’Industrie de Côte d’Ivoire: Formerly a subsidiary of the French group BNP Paribas and now owned by the Ivorian government, the BICICI comes third in the ranking with a score of 32%, close to UBA and Société Générale.
• Conversely, NSIA has the highest dissatisfaction rate, with 20% of respondents dissatisfied with the bank. Further investigation into customer service would be necessary to understand the underlying reasons for this performance. 
• Lastly, although Banque Atlantique has the lowest dissatisfaction rate (12%), its high neutrality rate of 46% reflects a level of customer indifference that would also need to be addressed.

More on financial services in Africa

Financial services is one of dozens of non-FMCG industries that SagaBrand monitors monthly across the continent. As a result, we often provide insights about the banking sector in Africa. For example, we surveyed earlier this year the Kenyans’ preferred banks, and previously the top banks in Zambia, Zimbabwe, and Uganda. We also routinely share category insights via webinars, such as this one on Financial Services in Africa.

If you would like further insights on bank ratings in Côte d’Ivoire or another African country based on our online panel in Africa, get in touch with us.

Please send an email to contact@sagaciresearch.com or click below.

Methodology

SagaBrand, the continuous tracking tool for brands across the African continent. Our online panel assesses around 2,000 brands on a daily basis.

• Brand Awareness: Which of the following brands have you ever heard of? Base: All respondents.
• Customer Satisfaction: For which brands below are you a SATISFIED or DISSATISFIED customer? Base: Respondents who have ever been a customer of the brand. 
• Satisfaction score: satisfaction minus dissatisfaction.

Population: adults in Côte d’Ivoire above 18 years old. 

Period: May 2024