Report presents the results of the 3rd edition of the annual customer experience survey conducted by KPMG.

1. Customer Retention during an Economic Downturn May 2009
03
Customer
Satisfaction
Survey
Banking
2009 Banking
Industry

2. Foreword 2
Scope and Methodology 4
The Voice of the Customer 6
Customer Experience
Management 11
Conclusion 13
Banking Survey
Contents
The views and opinions expressed in this survey report are those of the survey respondents and do not necessarily
represent the views and opinions of KPMG Professional Services. Unless otherwise stated in this publication, we have not sought to
establish the reliability of the information obtained from sources outside of KPMG. We therefore cannot provide any assurances or
guarantees that the survey findings represent an accurate view of the banking industry.There may be material differences between the
findings of the survey and the actual state of the industry. No one should act upon the survey results or other information contained in
this publication without appropriate professional advice after a thorough examination of the particular situation.
KPMG accepts no liability or responsibility from the reliance of any party on the contents of this publication.
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of independent member
firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. Printed in Nigeria by the Marketing, Knowledge &
Communications unit.

3. Page two Banking Survey Issue 3
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Foreword
1
"He profits most, who serves best"
- Arthur F. Sheldon
This edition is launched amidst one of the most gruelling economic crisis the world
has ever seen. Within the last one year, there have been increased cases of
bankruptcy filings, liquidations and government’s intervention to shore up the
financial industry especially in the Western World. A cloud of uncertainty is
shrouding the activities of most financial institutions globally and Nigeria is not
immune to the global crises, a direct impact has been the fall in oil prices which
has drastically reduced government revenue and is resulting in tighter liquidity.
Given the unfolding landscape, Nigerian banks have begun to focus on efficiency,
cost optimisation, quality service delivery and driving customer value through
customer retention and loyalty programs. To assess the impact of these various
initiatives and hopefully identify what is most important to customers, this year's
Banking Industry Customer Satisfaction Survey covers a wider range of
respondents in more locations, and also introduces a focus on the Small and
Medium-Scale Enterprises (SME) segment. About 7
,200, 800 and 350 retail, SME
and corporate respondents respectively were surveyed in nine (9) locations across
the country.
The results of this year's survey were quite insightful especially for the SME
segment that was analysed independently for the first time. It was quite clear that
this segment may not be receiving the attention it deserves from Banks as there
was no clear leader or preferred bank for this segment. Banks may need to
dedicate time and increase resources to harness the value inherent in serving this
segment.
However, it was interesting to note that the survey highlighted a progressive rate
of diminishing customer satisfaction levels for the corporate segment respondents.
Unsurprisingly though, 'Financial stability' emerged as the key consideration for
maintaining banking relationships for the corporate segment while 'Excellent
Customer Service' was the key determinant for the retail segment. Is this
reflective of the uncertainty in the global economy and does this showcase the
need to increase the 'wow factor' in services offered to customers?
With 2009 predicted to be a slow year in terms of financial growth around the
world, the survey highlights opportunities for banks in Nigeria to improve customer
satisfaction and in turn, increase customer retention and loyalty.
Adebisi Lamikanra
Partner and Head, Business Performance Services

4. rd
This 3 edition of the KPMG Banking Industry Customer Satisfaction Survey
(BICSS) is geared towards assessing and identifying the Nigerian banks with
a customer-driven focus as determined by banking customers.
The 2009 KPMG BICSS coverage was expanded to include not only the previously
surveyed banking segments i.e. retail and corporate/commercial segments, but
also the small and medium-scale enterprises (SME) segment. About 800, 7
,200
and 350 repondents were surveyed for the SME, retail and corporate/commercial
banking segments respectively.
The overall methodology (which is consistent with previous years) used in the
calculation of the customer satisfaction index (CSI) and analysis of the other
measures for all the banks in Nigeria is as depicted in the diagram below:
2
Banking Survey Issue 3
Page two
Page four
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Scope and
Methodology
Figure 2 - Methodology for Calculating Customer Satisfaction Index (CSI)
For this edition, respondents at nine (9) locations across the country, namely:
Aba, Abuja, Ibadan, Jos, Kano, Kaduna, Lagos, Onitsha and Port Harcourt were
targeted. The density of bank branches and commercial activities in the different
locations across Nigeria were the main considerations for selecting these
locations and target sample size per location.
On the other hand, corporate/commercial respondent selection was driven by
the desire to attain an almost equitable distribution for all major industry
categories. Also, in the retail segment, a new demographic measure - monthly
income - was included to further categorise the respondents.
Overall Score CSI
Perceived Value
Ratings -
Satisfaction (S)
& Importance (I)
S I (S x I)/ I
Customer Service Factors
Customer Care
Measures interaction of bank staff
with customers
Product/Service Offering
Measures product range &
appropriateness to customers’ needs
Transaction Methods & Systems
Measures customer support processes/
systems & turnaround time
Convenience
Measures accessibility & quality of service
from delivery channels
Pricing
Measures fees, charges and rates on product
Weighted
Score
Loyalty
Measures customers' willingness to transact recommend the Banks
21-30
48%
31-40
33%
41-55
12%
Above 55
3%
Under 20
4%
Figure 1 – Retail Respondent Demographics: Analysis by Age
N20,000-
N100,000
56%
< N20,000
25%
> N500,000
1%
N251,000-
N500,000
3% N101,000-
250,000
15%
Figure 3 – Retail Respondent Demographics - Analysis by
Monthly Income
Lagos
44%
Abuja
14%
Port-Harcourt
11%
Onitsha
8%
Aba
6%
Kaduna
6%
Kano
5%
Jos
4%
Ibadan
2%
Figure 4 - SME Respondent Demographic: Analysis
by Location

5. Banking Survey Issue 3
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Like prior years, feedback from the corporate/commercial clients was solicited
from key personnel managing their organisation's banking relationships. These
individuals were not included in the retail banking survey so as not to introduce a
bias to the survey results. Significant effort was made to ensure that the biggest
players in each sector of the Nigerian economy were included in the
commercial/corporate survey.
Figure 6 - Corporate Respondent Demographics: Analysis by Industry
2
8
9
10
13
22
24
25
26
28
33
36
37
59
0 10 20 30 40 50 60
Frequency Ratings
20
Others
Power
Agriculture
Embassies/Multilaterals/Foundations/NGOs
Healthcare and Pharmaceuticals
Food, Beverage & Tobacco
Non-Bank Financial Services Institutions
Conglomerates
Media and Publishing
ICT and Telecoms
Real Estate and Construction
Airlines and Hospitality
Oil and Gas
Logistics and Automobiles
Manufacturing
Less than
N250m
34%
N250m – N1b
24%
N1b – N5b
23%
N5b – N10b
8%
Greater than
N10b
11%
Figure 5 – Corporate Respondent Demographics: Analysis
by Annual Turnover

6. Page six
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
The results presented above indicates that apart from the first three (3) positions,
there have been major changes in the customers' perception of their banks
regarding to service delivery. Two (2) banks from last year's top 10 most customer
focused banks, Bank PHB and ETB, did not make the list this year (replaced by
Fidelity Bank and Skye Bank) while the positioning of the other top 10 listers
changed in comparison with last year's performance. This is indicative of the need
to ensure consistency in quality service delivery and a clear opportunity to
implement service delivery transformation initiatives.
This section contains the analysis of customer responses on their banks' efforts in
meeting and exceeding their needs and expectations. Will this year's performance
surpass that of the 2008 across all segments and locations? Will the factor(s)
guiding customer decisions be different?
We sought answers to the questions above and others in this year's survey. We
targeted a minimum sample size of respondents for each of the 24 banks and two
(2) banks that did not have the minimum number of respondents have been
excluded from the final survey analysis.
GTBank garnered the top position in the retail banking customer segment, for a
second straight time, with a CSI of 83.56, 4% higher than that of 2008 at 80.03.
nd rd
Closely following in the 2 and 3 positions, maintaining last year's rankings, are
Zenith Bank and Intercontinental Bank with CSI's of 80.45 and 78.69 respectively.
GuarantyTrust Bank tops the charts again in Retail
The Voice
of the Customer
Figure : Top 10 Most Customer Focused Banks-Retail
Skye Bank
Fidelity Bank
Diamond Bank
Oceanic Bank
Customer Satisfaction Index (%)
75.88
76
72 80 84
FCMB
Access Bank
Stanbic-IBTC
Intercontinental Bank
Zenith Bank
GTBank
GTBank Dominates in Retail
Customer Segment
Quality is never an accident; it is
always the result of intelligent effort.
John Ruskin
3

7. Page seven
Banking Survey Issue 3
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Service Delivery Channel Champions
This year, retail segment customer satisfaction with their banks' service delivery
channels was assessed. The assessment covered the proximity, accessibility and
availability of the channels amongst other factors.
GTBank, Zenith Bank, Intercontinental Bank and Access Bank emerged as the
banks, whose customers are most satisfied with their channels.
Figure 8 – Ranking of Banks by Delivery Channels
Internet Banking
GTBank
ATM
3
2
1
Ranking
Channels (Retail)
Access Bank
Zenith Bank
GTBank
GTBank
Zenith Bank
Branch
Zenith Bank
GTBank
3
2
1
Ranking
Channels (Retail)
Intercontinental Bank
Intercontinental Bank
2009 SME Focused Banks
SME banking customers were sampled from the same nine (9) locations with
about 720 respondents. The response generated showed that with an overall CSI
of 76.33, there appears to be no clear market leader as evidenced in the analysis
by customer service factors. This occurrence may be indicative of the need for
banks to strategically develop products and services to harness the long term
value entrenched in this customer segment. Also, banks believed to be niche
players in this segment have not distinguished themselves and have left their
customers the option of trying out other banks
Figure 9 - Ranking of Banks by Customer Service Factors- SME
Stanbic-
ETB
Pricing
Sterling Bank
Transaction Methods &
Systems
GTBank
Zenith Bank
Convenience
Sterling Bank
Product/ Service Offering
Zenith Bank
Stanbic-
Customer Care
3
2
Customer Service
Measures (SME)
GTBank
Stanbic-IBTC Bank
ETB
Sterling Bank
FCMB
Access Bank
Fidelity Bank
GTBank
Zenith Bank
Sterling Bank
GTBank
FCMB
Product/ Service Offering
Zenith Bank
Stanbic-IBTC Bank
GTBank
3
2
1
Ranking
Transaction Methods &
Systems
Convenience
Pricing
Customer Care
Measures (SME)
Customer Service
Zenith Bank maintains its top position for another year in Corporate
Zenith Bank maintained its top performance in the corporate customer segment by
st
clinching the 1 position, once again, with a CSI of 79.57 while GTBank and Skye Bank
nd rd
took the 2 and 3 positions with CSIs of 78.61 and 77
.08 respectively. Although,
Zenith Bank and GTBank have maintained their positions for 2 straight years, this is
Skye Bank's first time in the top three position.
However, it is rather disappointing that only 21% of Nigerian banks had a CSI of 75
and above. This performance shows a diminishing level of customer satisfaction
levels among corporate customers and indicates there is a need for concerted
effort by all to ensure the entrenchment of a key differentiating factor in all
interactions with customers in this segment.
No distint market leader
fro the SME segment
Zenith leads the pack once again
in Corporate

8. Banking Survey Issue 3
Zenith Bank, GTBank and Skye Bank led the pack across all corporate
service delivery measures
Zenith maintains its leadership across most of the service delivery measures -
customer care, convenience, transaction methods & systems and products &
st
service offering. Fidelity clinched the 1 position for the pricing. GTB has the
most loyal customers with 72.26% of their corporate customers indicating that
they are fully committed to GTB as their bank of first choice.
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Page eight
Figure 10 - Top 10 Most Customer Focused Banks- Corporate
72 74 76 78 80
Intercontinental Bank
Citibank
FirstBank
FCMB
Access Bank
Diamond Bank
Standard Chartered Bank
Skye Bank
GTBank
Zenith Bank
Customer Satisfaction Index (%)
Figure 11 - Ranking of Banks by Customer Service Measures- Corporate
Pricing
Skye Bank
Transaction Methods &
Systems
Zenith Bank
Convenience
Product/ Service Offering
Customer Care
2
1
Customer Service
Measures (Corporate)
Diamond Bank
Skye Bank
Fidelity Bank
Pricing
GTBank
Zenith Bank
Transaction Methods &
Systems
Skye Bank
GTBank
Convenience
FirstBank
GTBank
Zenith Bank
Product/ Service Offering
Standard Chartered
Bank
GTBank
Zenith Bank
Customer Care
3
2
1
Ranking
Customer Service
Measures (Corporate)
Quality is not an act, it is a habit
- Aristotle
52.27
53.75
53.85
55.29
57.14
57.14
57.14
57.5
66.3
72.26
40 60 80
FCMB
Oceanic Bank
Access Bank
Diamond Bank
FirstBank
Standard Chartered Bank
Wema Bank
Skye Bank
Zenith Bank
GTBank
Loyallty (%)
Figure 3-Loyalty Measures for Top 10 Banks

9. UBA and Zenith Bank rated
most frequently by the different
customer segments
Figure 12 - Top 10 Rated Banks: Retail Figure 13 - Top 10 Rated Banks: SME
394
438
508
533
533
870
985
999
1054
1452
200 400 600 800 1000 1200 1400 1600
Skye Bank
Union Bank
Zenith Bank
Diamond Bank
Bank PHB
FirstBank
Oceanic Bank
Intercontinental Bank
GTBank
UBA
Rating Frequency
53
67
76
82
110
114
142
150
154
157
50 70 90 110 130 150 170
Skye Bank
Ecobank
Bank PHB
Diamond Bank
FirstBank
GTBank
Intercontinental Bank
Oceanic Bank
Zenith Bank
UBA
Rating Frequency
Rating Frequency
50 90 130 170 210
Ecobank
Union Bank
Access Bank
Oceanic Bank
Diamond Bank
Intercontinental Bank
UBA
GTBank
FirstBank
Zenith Bank
Figure 14 - Top 10 Rated Banks: Corporate
What factors drive relationship maintenance?
For the 2009 KPMG BICSS, 'Financial Stability' emerged as the most important
rationale for the maintenance of banking relationships for the corporate segment
while 'Excellent Customer Service' emerged tops for the retail segment.
Page nine
Ratings per Bank
The frequency of ratings per bank is an indication of the Bank's market focus or
target customer segment. Results from the survey as detailed in the charts
below show that some banks have significant footprints in more than one
customer segment.

10. Page ten
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
Key Buyer Values
Customer
Segment
Knowledge of
organisation’s business
Tailor products/ services
to SME needs
Improved ATM services
1st
Tailor products/ services
to corporate needs
Minimal system down
time
Minimal transaction wait
time
2nd
Improved relationship
management
Accessibility of trade
finance
Prompt notification on all
transactions
3rd
Corporate
SME
Retail
Key BuyerValues
Customer
Segment
Knowledge of
organisation’s business
Tailor products/services
to SME needs
Improved ATM services
1st
Tailor products/ services
to corporate needs
Minimal system down
time
Minimal transaction wait
time
2nd
Improved relationship
management
Accessibility of trade
finance
Prompt notification on all
transactions
3rd
Corporate
SME
Retail
We hope that these buyer values will guide banks on the areas to focus on in
their quest to win this war for customers and in allocating their scarce
resources. Customer loyalty and ultimately retention can only be achieved by
being dynamic and willing to continuously adapt strategy, people, processes,
technology to address the issues that are paramount to customers.
The importance of alternative delivery
channels highlighted by Retail
The emergence of 'Financial stability' as a key consideration by both retail and
corporate customer segments may be suggestive of the uncertainty in the global
financial industry especially the banking sector. Moreover, the continued strive by
banks to provide quality service across all customer segments has made
customer's to become more discerning and able to raise and modify their
expectations in tandem with the environmental dictates.
Understanding customer expectation has spawned various research activities in
service management, all geared towards assisting organisations in increasing their
share of the customer's wallet (SOW). In this year's study customers were asked
to state the reason(s) for the ratings they assigned to their banks. Some of the
reasons (in the customers' own words) include: 'the bank has a good image and I
think the staff are well trained', 'they are transparent', 'the bank is very close to my
school', 'there is a problem with their ATM service', 'the bank should work on their
IT department to reduce system downtime', 'the staff are not well trained',
'almost all the banks have poor quality of service and their personnel have poor
knowledge and understanding of the bank's services', 'strong financial base',
'weak in customer care services', 'the hidden charges are too much', etc.
However, there is still hope for the banks in their quest to maximise customer
satisfaction as the customers have indicated the three (3) most important buyer
values across the market segments:
What do customers expect from the Banks?
Banking Survey Issue 3
Figure 17 - Top 3 Customer Buyer Values by Segment
Figure 16 - Rationale for Maintaining
Banking Relationship: Retail
Figure 15 - Rationale for Maintaining
Banking Relationship: Corporate
8.03%
8.25%
8.41%
8.91%
9.21%
9.67%
13.69%
16.68%
17.16%
5% 10% 15% 20%
Availability of alternative banking channels
Pricing of products and services
Parent company/affiliate requirements
Provision of full range of financial services
Access to credit
Proximity/accessibility of branch network
Image and reputation
Excellent customer service
Financial stability
Rating Frequency
7.52%
7.74%
9.94%
12.32%
13.64%
16.16%
16.17%
16.51%
5% 10% 15% 20%
Access to credit
Pricing/cost of products and services
Access to alternative delivery channels
Employer Requirements (Salary Account)
Proximity/ accessibility of branch network
Image and reputation
Financial stability
Excellent customer service
Rating Frequency
Financial Stability and
Excellent Customer Service
emerge tops in both
categories as the main
reason for maintaining
banking relationships

11. Customer Experience
Management
The Key to Service Delivery
4
4
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
In the words of Tony Alessandra, “being at par in terms of price and quality only
gets you in the game; service wins the game” (as cited in More Loyal Customers
by Kevin Stirtz). Customer service is no doubt redefining the competitive landscape
in the Nigerian banking sector. From the boardroom to the banking halls, the
average Nigerian banker is becoming more aware of the influence the customer
wields on the destiny of his or her financial institution.
Competition has changed as banks are speedily closing the gaps that hitherto
existed in terms of products and service differentiation. With the thinning out of
margins, greater emphasis is being placed on building strong customer service
cultures through a consistent display of service excellence in all customer
interfaces, with the aim of enhancing customer loyalty and retention.
The outcome of KPMG's annual banking industry survey for the year 2009 was a
loud declaration by the customer that service delivery is still the key driver of
retention and loyalty. The results reinforces the opinion obtained in 2008 that
customers seek banks that can meet their changing needs faster than the
competition. It also underlines the view that banks can no longer hope to keep
today's customer without providing services that offer benefits that seek to meet
and exceed the perceived or expressed needs of the customer. What attracts and
keeps the customer's loyalty is the level of royalty accorded to him by the financial
institution he patronises.
Exceptional customer service is undoubtedly the fulcrum of any worthwhile
customer-retention strategy. It is the vital ingredient that transforms customers
from loyalists to apostles. Merely creating products targeted at different customer
segments will at best give the customer a bond with the product and not
necessarily with the bank. This is all the more obvious as product-replication has
become the bane of the banking industry in Nigeria today. Customers have at their
disposal, various product offerings which are superficially different, but
fundamentally alike. When it comes to the basics, most of these products offer
similar benefits at almost the same or marginally varying costs. So, the customer is
obviously empowered to make choices.
Shaun Smith¹ specifies four criteria, which serve as platforms for any solid effort at
managing customer experience. According to him, a positive, well-managed
customer experience must be:
the organization must be able to know everything about the
customer and what the customer thinks about the company regardless of the
touch point or agent handling the interaction.
the touch point must be able to capture and clearly report the
customer experience [or feedback from the customer]. The service
organization's procedures and policies must therefore be specifically geared
towards meeting the needs of the customer and by extension, protecting the
customer experience.
Managing Customer Experience
Consistent:
Intentional:

12. Differentiated:
Valuable:
Conclusion
customers must be able to distinguish between the
experience they get from their contact within each bank. The experience
delivered to customers must leave them with the feeling that no
organization can do quite the same “No organisation can afford sameness in
its customer experience unless it is happy to allow price to become the
determining factor”
.
after crafting a consistent, intentional and differentiated service
strategy, it is very paramount to do an appraisal of what value such strategy
will add to the organization and its customers.
Banks that have made bold steps to invest in various forms of customer
relationship management tools (CRM) need to understand that those tools only
help to capture what the bank knows about a particular customer i.e. tracking
customer actions after the fact (after the customer has been served by the
bank). Customer experience management, with the objective of delivering
exceptional service, requires capturing the subjective thoughts of a customer
about a particular company; customer experience management (CEM) therefore
involves collecting and processing on a real-time basis, the immediate responses
of the customer to its encounters with the company and therefore determine the
capacity of the bank to satisfy future needs of the customer.
As proactive banks make the strategic shifts necessary to acquire and retain the
savvy prospect or customer, reactive financial institutions will continue to
compete on parameters defined in old markets. The increasing competition and
globalisation will continue to open the eyes of the customer to various options in
the market place and reinforce his power of choice.
Survivors will be those who align their entire organisation with the principles of
customer-orientation: seeing and living in the customer's world of constant
change and unpredictable preferences. Ultimately the customer seeks
satisfaction; the bank that provides it positions itself to outlive its competitors.
¹ synchronynow.cincom.com/forms/ShaunSmithSY070130-2 - Customer Experience Happens in the Contact Centre, Cincom White Paper

13. 5
5
A specific SME banking
strategy is critical to potential
market leaders in the SME
segment
Customers want more
Customers have become more financially savvy and are increasingly taking
advantage of different information media to seek financial advice, understand
competitor offerings and market dynamics to make better decisions. The
customers' need to 'be in the know' has been heightened by the current global
economic meltdown with banking customers seeking to be reassured that their
financial concerns are in stable hands.
This year's results indicates that customers value financial stability and customer
service excellence above all other factors in determining which banks to maintain a
relationship with. Simply put, customers base their banking relationship decision on
where they will get the most 'peace of mind'. Focus on ensuring financial stability
and excellent service quality will go a long way in turning ambivalent Nigerian
banking customers into dedicated advocates thus increasing customer acquisition
and retention.
Taking the lead
Our findings for the SME customer segment indicate that no bank has
distinguished itself as the market leader for this segment. This has highlighted the
need for banks to make concerted efforts to develop this segment and leverage
effectively on the existing opportunities. Banks planning to have a significant and
profitable presence in this segment need to develop a specific SME banking
strategy, which will include the following:
Growth through profitable marketing strategies;
Improved asset quality through enhanced risk management; and
Increased operating efficiency through use of technological innovations.
However, focus on market share growth needs to go hand-in-hand with heightened
focus on excellent service quality in order to avoid the 'dominance trap' which often
plagues market leaders who take their customers for granted.
Knowing the customers' mind: Getting it right the second time
The diminishing level of customer satisfaction for the corporate/commercial
customer segment is a clear case for concern. There appears to be a gap between
what the customer expects and what the banks currently offer. The two (2) key
buyer values by the corporate segment respondents are directly linked to
employees – “knowledge of customer organisation's business” and “improved
relationship management”
. These will obviously continue to elude any bank that
does not actively invest in good people management practices as employees who
are adequately empowered and belong will endeavour to consistently provide
superior service quality to customers.
Finally, the increased customer satisfaction level for retail segment when compared
with 2008 results should not give a 'false' sense of security to banks. However, it
should be interpreted as a clear opportunity to improve services at the delivery
channels as products/services for this segment is mostly driven by technology and
innovation as evidenced by the three (3) key buyer values selected by the
respondents.
76.47
75.86
74.46
72.55
75.88
72
74
76
78
80
2007 2008 2009
Customer
Satisfaction
Index
(CSI)
Corporate Retail
Conclusion
© 2009 KPMG Professional Services, a partnership registered in Nigeria and a member firm of the KPMG network of
independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.

14. The key
to success
Moving
Customers’
to Centre Stage
market wants as opposed
to what they can produce.
The results of our 2009
Customer Satisfaction
Survey confirm again that
service delivery is the
most important factor that
customers look for to build
a lasting relationship with
any bank. Customer
service is critical to
building competitive
advantage in the industry,
achieving lasting
profitability in an up market
and retaining market share
in a down economy.
Service Delivery -
a competitive
advantage.
© 2009 KPMG Professional Services, a Nigerian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
The changing nature of the
customer and the impact
of an unpredictable
business environment
converge to produce a
platform of constant
change that banks need to
be aware of, monitor and
respond to with dynamic
marketing strategies.
It is now more important
for banks to focus on
product innovation as they
increase their customer
centricity, and reposition
their services to deliver
what they believe the