Co-op Bank named Overall Winner in Kenya Banking Survey

Co-op Bank was also named the winner in the Tier One Bank Category, marking the second consecutive win for Co-op Bank having also won the overall title for the year 2022.

The survey was conducted by interviewing over30,000 customers of Kenyan banks from across the country. 

Co-op Bank Group Managing Director & CEO Dr Gideon Muriuki commented on the award 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.”

In the survey, Family Bank was voted the best tier two bank, while Sidian Bank was named winner in tier three bank category.

The annual Banking Industry Customer Satisfaction Survey was initiated in 2018 as part of efforts being spearheaded by KBA towards enhancing customer experience in the banking industry. 

At the same time, the survey established that over 60  percent of bank customers in the country had more than one bank account in 2023.

From the 30,000 respondents who were surveyed, 62.6% admitted to having more than one bank account. 53.2% had two or more accounts, 8.2% had 4 to 5 bank accounts, while respondents holding more than 6 accounts accounted for just 1.2%.

During the year under review, the preference for mobile banking channels grew to nearly 70% from 67.8% in 2022

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

“Digital banking channels have enabled us 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,” stated Rita Mureithi - Customer Experience Manager, Sidian Bank.