{"id":352465,"date":"2019-11-11T18:00:10","date_gmt":"2019-11-11T16:00:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=352465"},"modified":"2019-11-11T17:02:22","modified_gmt":"2019-11-11T15:02:22","slug":"what-south-africans-really-think-about-absa-nedbank-fnb-standard-bank-and-capitec","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/352465\/what-south-africans-really-think-about-absa-nedbank-fnb-standard-bank-and-capitec\/","title":{"rendered":"What South Africans really think about Absa, Nedbank, FNB, Standard Bank and Capitec"},"content":{"rendered":"

BrandsEye has released its 2019 South African Banking Sentiment Index, revealing which retail banks South Africans love and hate the most.<\/p>\n

The index is based on an analysis of 1.9 million social media posts about South Africa\u2019s largest banks across various platforms, including Twitter, Facebook and Instagram.<\/p>\n

It also included an analysis of 68,500 posts about the new entrants, Bank Zero, Discovery Bank and Tyme.<\/p>\n

BrandsEye uses topic analyses to gauge the sentiment of posts (either positive or negative), across 70 topics, and seven broad categories, including reputation, customer service, pricing and customer retention.<\/p>\n

The net index score is determined by subtracting negative sentiment from positive sentiment.<\/p>\n

Nedbank had the highest Net Sentiment for 2019. Capitec placed second and is the only bank to continuously maintain a positive Net Sentiment Score over multiple years.<\/p>\n

Absa placed third, with a five-point decline from 2018, while Standard Bank placed fourth continuing its 3-year decline in sentiment (23 percentage points since 2017).<\/p>\n

FNB had the largest decline in Net Sentiment of -27 points and had the lowest overall net Sentiment.<\/p>\n

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BrandsEye explained that Nedbank\u2019s rise was driven by its successful corporate social investment initiatives. It added that the partnership with Global Citizen significantly improved the bank\u2019s overall performance.<\/p>\n

By comparison, Capitec had the best customer experience performance.<\/p>\n

“This suggests that consumers still perceive Capitec to have the best operational performance,” it said.<\/p>\n

“FNB was impacted by several reputational events throughout the year, which led to it scoring the lowest net sentiment.<\/p>\n

“Standard Bank performed poorly across both reputational and operational measures – having had the worst customer experience sentiment and the second worse reputational sentiment.”<\/p>\n

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Absa, FNB and Standard Bank were implicated in several ethics-related issues that negatively impacted their sentiment, namely:<\/p>\n