The Chartered Institute of Marketing, Ghana (CIMG) has launched its Customer Satisfaction Index Report, the CIMG-CSI, 2022.
The National President of CIMG, Dr. Kasser Tee, who addressed the gathering, indicated that the study was conducted in the last quarter of 2022.
He continued that the effects of the DDEP on the financial performance of banks for the full year 2022, and first quarter of 2023 for some was huge and devastating.
“As you may recall, the CIMG, in 2021 embarked on a journey to establish a standard Customer Satisfaction Index for Ghana, as it is done in most advanced markets around the globe. This exercise gave birth to the successful launch of the first ever Customer Satisfaction Index in Ghana for 2021”, he said.
According to him, that maiden study, the Banking Industry of Ghana, scored 95% service quality, which was deemed to be low for financial services, but today his outfit has been able to expand the study a notch further to cover Business Banking as well, unlike the maiden report that covered only Consumer Banking.
Dr. Kasser Tee urged each of the 23 universal banks to subscribe to this report as the findings would be very useful in shaping their decisions and actions on the three important study variables of Service Quality, Customer Satisfaction and Customer Loyalty, as well as their individual and combined effects on bank performance.
“It is an established fact that high service quality promotes customer satisfaction, which in turn aids in shaping customer behavioural intentions by way of loyalty and guarantees positive financial consequences on both the income statements and balance sheets of organisations”, he asserted.
He concluded by expressing his gratitude to the dedicated team of experts who have painstakingly worked on this report.
“Their expertise and commitment to delivering accurate and insightful information is evident in this report and I am confident that it will serve as a valuable resource for the regulator, management of banks, including providers of related services within the larger financial services sector of Ghana”, he thanked them.
Background
In 2021, the Chartered Institute of Marketing, Ghana (CIMG) commissioned a baseline study to establish the CIMG-CSI (later referred to as GH-CSI) score for consumer banking in Ghana.
The objective of the report is to measure Service Quality, Customer Satisfaction and Customer Loyalty for 2022 and compare same with 2021 scores.
It is also to compare the Customer Satisfaction Index (GH-CSI) for 2022 and 2021 and to measure the levels of service quality, customer satisfaction and customer loyalty for Banking Services.
