SA’s best and worst banks
The South African Customer Satisfaction Index (SAcsi) has recently conducted research into the best and worst banks in South Africa, revealing that FNB is the top bank and Absa the worst.
BusinessTech reported previously that Capitec, Nedbank and Standard Bank customers rated their bank statistically on par with the industry.
However, a more detailed report from SAcsi has now been published which ranked the banks in two segments: lower to middle market and cross market.
SAcsi explained that as Capitec primarily targets lower to middle market segments; an additional comparison was completed that included only the market segments that correspond across all banks.
“When comparing the full market spectrum across all segments, the analysis excluded Capitec and showed that the ranking among the remaining four large banks stayed the same,” said SAcsi founder and CEO Adre Schreuder.
The following tables compare the customer satisfaction rates across South Africa’s banks.
Low and middle market segment comparison
| Bank | SAcsi Score | Point difference from Industry Average | Percent difference from Industry Average | Industry Comparison (90% statistical significance) |
| Industry Score | 77.6 | — | — | — |
| FNB | 79.4 | 1.80 | 2.3% | Industry Leader |
| Capitec | 79.0 | 1.40 | 1.8% | Par with Industry |
| Nedbank | 78.6 | 1.00 | 1.3% | Par with Industry |
| Standard Bank | 77.2 | -0.40 | -0.5% | Par with Industry |
| Absa | 75.7 | -1.90 | -2.4% | Below Par |
Cross market segment comparison
| Bank | SAcsi Score | Point difference from Industry Average | Percent difference from Industry Average | Industry Comparison (90% statistical significance) |
| Industry Score | 77.7 | — | — | — |
| FNB | 80.0 | 2.30 | 3.0% | Industry Leader |
| Nedbank | 78.6 | 0.90 | 1.2% | Par with Industry |
| Standard Bank | 77.6 | -0.10 | -0.1% | Par with Industry |
| Absa | 75.8 | -1.90 | -2.4% | Below Par |
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