With Nigerians joining the rest of the world to celebrate Valentine’s Day yesterday, the love bug of the celebration witnessed a new twist as most Nigerians used the occasion to rate their best banks in terms of operation and strength. As a survey conducted by Ciuci Consulting, in her annual banking report; ‘What Retail Banking Customers Want for 2020,’ showed a remarkable ‘love note’ with the #BankLoveChallenge.
This challenge, according to the survey, revealed the love-hate relationship between Nigerians and their banks. With survey questions such as ‘who is the love of your life?’ and ‘who is your crush?’ The favourite banks of respondents across all age groups were captured with the reasons why they melt their hearts and fill their tummies with butterflies. The survey conducted by Ciuci Consulting in partnership with The Guardian, used a random sample of 1,023 respondents across Nigeria.
The results showed that the top five banks were GTBank, Zenith Bank, Access Bank, First Bank and UBA at 32.75 per cent, 12.71 per cent, 12.12 per cent, 9.97 per cent, and 7.14 per cent, respectively. The respondents mentioned convenience, reliability and customer service as their reasons for having such strong feelings for these five banks.
As much as Valentine’s Day was centred on love, there was no denying the flipside: heartbreaks, breakups, and relationships which just did not work out. For banks, they would never go back to ask why respondents chose these banks while these respondents advanced reasons such as poor customer service, inconvenience and unreliability as to why they can never bank with other banks outside the mentioned five. Poor customer service, inconvenience, unreliability and turnaround time were also cited as the reasons some respondents choose the banks they would never use no matter what is at stake.