KPMG Names FCMB the Best SME Bank in Nigeria

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The 2019 Nigeria banking industry customer experience survey report recently published by KPMG Nigeria showed that Ecobank Nigeria recorded significant improvement in the SME segment of the survey.

According to the report, analysis of performance in the SME segment reveals dynamism in the 2019 ranking. Despite lower levels of overall satisfaction for SMEs, Fidelity Bank and Ecobank made the greatest improvements with both banks moving up more than four places into the top five banks. FCMB emerged first while Access Bank came Third.

In the retail segment, the top two performers have remained the same for the fourth consecutive year. GTBank replaced Zenith Bank as the top-rated bank in the 2019 ranking. Sterling Bank, First Bank and UBA are the biggest movers in 2019, coming in 3rd, 5th and 7th places respectively.

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In the wholesale segment, Citi Bank and GTBank maintained top spots from previous year ranking while new entrants Standard Chartered and Access Bank make the top five positions at 3rd and 5th places, respectively.

KPMG Nigeria has conducted the research survey since 2007. The researchers have asked customers across financial market segments about their experience with their banks. Over the period, more than 200,000 customers were surveyed across the country.

The 2019 survey research was conducted through face-to-face and online survey methodology completed Q2 and Q3 2019. The survey covered 25,466 retail customers, 3,045 SMEs and 369 commercial/corporate organisations.

Culled from SME FINANCE