Stanbic IBTC Dominates Retail and SME Banking Segments in KPMG’s 2023 Customer Experience Survey

Stanbic IBTC Holdings, a member of Standard Bank Group, has once again proven its commitment to delivering exceptional customer experiences by securing top spots in KPMG’s 2023 West Africa Banking Industry Customer Experience Survey. In the recently released survey results, Stanbic IBTC emerged as a leader in retail, SME and corporate segments, securing the prestigious top spot in the KPMG experience score in retail and SME. The Bank also claimed the third position in the corporate banking category.

The remarkable feat was sequel to the Group’s impressive performance in the 2022 edition of the survey, where the Bank claimed the number one spot in both retail and corporate banking categories.

KPMG’s research report emphasised Stanbic IBTC’s outstanding performance, citing excellence across critical aspects of the customer journey in the retail and SME segments. The report attributed the success to the Bank’s unwavering commitment to innovation and a customer-centric approach. Notably, the strategic focus on customer onboarding, particularly through a customer entrenchment strategy, was highlighted as a pivotal factor in this well-deserved recognition.

Expressing his delight at the recognition, Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings, stated, “This achievement is a testament to our profound commitment to providing exceptional banking experience to our customers. We are proud to be recognised for our efforts in retail, SME, and corporate banking, and we will continue to innovate and prioritise our customers in all aspects of our operations.”

The survey, now on its 17th edition in Nigeria since its inception in 2007, covered an extensive customer base, with wide-ranging retail banking customers, thousands of SME banking customers, and hundreds of corporate banking customers participating in the research. The rankings were based on the six pillars of performance – empathy, integrity, time, effort, expectation, and personalisation.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, added, “Our success in this survey reflects the hard work and dedication of our team and the effectiveness of our customer-centric strategies. We will build on this momentum and continue to raise the bar in delivering superior banking services to our diverse customer base.”

Earlier this year, Fitch Ratings reaffirmed the National Long-Term Ratings of Stanbic IBTC Holdings and Stanbic IBTC Bank Limited at ‘AAA (nga).’ Fitch also assigned stable outlooks to the ratings, which underscored the financial institution’s resilience in a challenging operating environment, recognising its sound asset quality, robust capitalisation, consistent profitability, and the strategic importance of being a member of the Standard Bank Group.