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Bank Benchmarking Index 2011

Ethos Consultancy has revealed the findings of its 7th Annual Bank Benchmarking Index for service excellence. This year’s study indicates that 8 of last year’s top 10 are also in this year’s top 10 positions overall out of the 23 banks in the research. Although there are some interesting changes at the top, overall the research does seem to suggest that many of the UAE’s banks are still not focusing enough attention on customer service.

The Bank with the highest performance overall was Abu Dhabi Islamic Bank capitalizing on last year’s 3rd overall placing, Rakbank winners for the past 5 years slipped into 2nd position, Dubai Bank being 3rd and  with Lloyds TSB winning the Top International Bank.

Bank benchmarking Index 2011 Winners

Category Winner
Best Bank – Overall Performance Abu Dhabi Islamic Bank
Best Bank – Branch Performance Abu Dhabi Islamic Bank
Best Bank – Call Centre Performance Dubai Bank
Best Bank – Website Performance Commercial Bank Dubai
Best Islamic Bank Abu Dhabi Islamic Bank
Best International Bank Lloyds TSB
Most Improved Bank Al Hilal Bank
Best Small Bank Ajman Bank
Best Large Bank EmiratesNBD

Methodology Used

This year the focus of the research was on the key areas that customers “value the most” and that surrounds the processes and people aspect of service performance. The Ethos revolutionary concept Value Moments was used to determine the questionnaires and the weighting applied to each of the Value Moments questions thereby giving more focus on the really important elements of customer service as determined by UAE banking customers.

The research was conducted during a 3 month window June – August 2011, during which time Ethos researchers made 460 branch visits, 276 call centre calls and 184 website interactions. Thereby totaling 920 research interactions, with each bank receiving 20 branch visits, 12 call centre calls and 8 website interactions, so in summary each bank was contacted a total of 40 times across their 3 core delivery channels. This year’s study covered a total of 23 UAE retail banks, comprising 18 local and 5 International banks and focused on three geographical areas of operation, Abu Dhabi, Dubai and Sharjah.

Summary of Findings

  • Visits
    As an overall experience; 34% of the respondents were extremely satisfied, 46% were satisfied, and 12% were neither satisfied not dissatisfied, while 7% were dissatisfied, and 1% extremely dissatisfied.
  • Call Centre
    Regarding the call centre; 28% of the respondents were extremely satisfied, 48% were satisfied, and 15% were neither satisfied not dissatisfied, however 8% were dissatisfied, and 1% extremely dissatisfied.
  • Website
    Regarding the website; the overall experience was; 20% of the respondents were extremely satisfied, in addition to 22% were satisfied, while 6% were neither satisfied not dissatisfied, however 11% were dissatisfied, and 41% were extremely dissatisfied.

Overall Ranking

# 2011 2010
1 Abu Dhabi Islamic Bank Rakbank
2 Rakbank Dubai Bank
3 Dubai Bank Abu Dhabi Islamic Bank
4 Commercial Bank of Dubai First Gulf Bank
5 Ajman Bank Commercial Bank of Dubai
6 Mashreqbank Lloyds TSB Bank plc
7 First Gulf Bank EmiratesNBD
8 LloydsTSB National Bank of Abu Dhabi
9 Abu Dhabi Commercial Bank Ajman Bank
10 Dubai Islamic Bank Mashreqbank

Ethos Consultancy has revealed the findings of its 7th Annual Bank Benchmarking Index for service excellence. This year’s study indicates that 8 of last year’s top 10 are also in this year’s top 10 positions overall out of the 23 banks in the research. Although there are some interesting changes at the top, overall the research does seem to suggest that many of the UAE’s banks are still not focusing enough attention on customer service. The Bank with the highest performance overall was Abu Dhabi Islamic Bank capitalizing on last year’s 3rd overall placing, Rakbank winners for the past 5 years slipped into 2nd position, Dubai Bank being 3rd and with Lloyds TSB winning the Top International Bank.

Bank benchmarking Index 2011 Winners

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Category Winner
Best Bank – Overall Performance Abu Dhabi Islamic Bank
Best Bank – Branch Performance Abu Dhabi Islamic Bank
Best Bank – Call Centre Performance Dubai Bank
Best Bank – Website Performance Commercial Bank Dubai
Best Islamic Bank Abu Dhabi Islamic Bank
Best International Bank Lloyds TSB
Most Improved Bank Al Hilal Bank
Best Small Bank Ajman Bank
Best Large Bank EmiratesNBD

Methodology Used

This year the focus of the research was on the

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so in summary each bank was contacted a total of 40 times across their 3 core delivery channels. This year’s study covered a total of 23 UAE retail banks, comprising 18 local and 5 International banks and focused on three geographical areas of operation, Abu Dhabi, Dubai and Sharjah.

Summary of Findings

  • Visits As an overall experience; 34% of the respondents were extremely satisfied, 46% were satisfied, and 12% were neither satisfied not dissatisfied, while 7% were dissatisfied, and 1% extremely dissatisfied.
  • Call Centre Regarding the call centre; 28% of the respondents were extremely satisfied, 48% were satisfied, and 15% were neither satisfied not dissatisfied, however 8% were dissatisfied, and 1% extremely dissatisfied.
  • Website Regarding the website; the overall experience was; 20% of the respondents were extremely satisfied, in addition to 22% were satisfied, while 6% were neither satisfied not dissatisfied, however 11% were dissatisfied, and 41% were extremely dissatisfied.

Overall Ranking

# 2011 2010
1 Abu Dhabi Islamic Bank Rakbank
2 Rakbank Dubai Bank
3 Dubai Bank Abu Dhabi Islamic Bank
4 Commercial Bank of Dubai First Gulf Bank
5 Ajman Bank Commercial Bank of Dubai
6 Mashreqbank Lloyds TSB Bank plc
7 First Gulf Bank EmiratesNBD
8 LloydsTSB National Bank of Abu Dhabi
9 Abu Dhabi Commercial Bank Ajman Bank
10 Dubai Islamic Bank Mashreqbank

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