Keeping Your Business in Mind

Co-Op Bank Clinches Top Spot in Kenya Banking Survey

The Co-operative Bank of Kenya has once again emerged victorious, securing the prestigious title of Overall Winner in the Banking Industry Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).

Not only did Co-op Bank seize the top spot overall, but it also claimed the coveted title in the Tier One Bank Category for the second consecutive year, following its triumph in 2022.

Conducted through interviews with over 30,000 customers across Kenya, the survey affirmed Co-op Bank’s commitment to excellence in customer service.

Dr. Gideon Muriuki, Group Managing Director & CEO of Co-op Bank, affirmed the bank’s dedication to enhancing customer experience, stating:

 “Co-op Bank will continue to invest substantial resources in building the teams, the tools and the technologies to deliver a fulfilling customer experience across all our service channels.”

Among other notable recognitions, Family Bank was celebrated as the best tier two bank, while Sidian Bank clinched the winner’s title in the tier three bank category. These acknowledgments underscore the ongoing efforts within the banking industry to prioritize customer satisfaction.

The survey also shed light on evolving banking habits, revealing that over 60 percent of bank customers in Kenya maintained multiple bank accounts in 2023. This trend reflects a growing preference for diversification and flexibility in managing financial affairs.

Moreover, the survey highlighted the increasing popularity of mobile banking channels, with nearly 70% of respondents favoring digital platforms—an uptick from 2022 figures.

Habil Olaka, CEO of KBA, emphasized the importance of sustained investments in the digital space, stating:

“I urge banks to sustain investments in the digital space…alto has helped this including internet penetration, availability of affordable quality gadgets.”

Rita Mureithi, Customer Experience Manager at Sidian Bank, emphasized the pivotal role of digital banking channels in enhancing customer outreach and addressing issues swiftly.

While acknowledging the significance of physical branches, Mureithi underscored the indispensable role of digital platforms in delivering efficient banking services, stating:

“Digital banking channels have enabled us to reach out effectively to customers……we are addressing issues quickly and faster, but that doesn’t mean we don’t value physical branches, they still play a role.”

As the banking landscape continues to evolve, institutions like Co-op Bank, alongside their counterparts, are poised to embrace digital innovations and customer-centric strategies to meet the evolving needs of consumers in Kenya’s dynamic financial ecosystem.

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