Access Bank, GTbank, five others top list of banks with most customer complaints in 2022

Access Bank Holdings Plc, Zenith Bank Plc, Wema Bank Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc, Guaranty Trust Holding Company, and Jaiz Bank Plc led other Nigerian banks with the most customer complaints in 2022.

According to the banks’ annual financial reports, they received 6.9 million customer complaints in 2022, representing a significant increase of 54 per cent or 2.42 million complaints compared to 4.48 million the banks received in 2021.

Analysis revealed that out of the total complaints, 6.76 million were resolved, and 142,636 were carried over to 2023.

A further breakdown showed Access Holdings Plc had the highest number of customer complaints with 2.82 million, United Bank of Africa Plc, with 1.41 million, and Guaranty Trust Holding Company, with 1.01 million complaints.

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Zenith Bank, Wema Bank Plc and Union Bank also received 475,499, 404,179 and 673,709 complaints, respectively.

Jaiz Bank Plc, Nigeria’s biggest non-interest bank had 118,429 complaints.

Regarding refunds demanded, United Bank for Africa Plc received the highest with N86.34 billion, followed by Access Holdings Plc – N76.37 billion, and Union Bank of Nigeria Plc with N30.47 billion refund request from customers.

Guaranty Trust Holding Company had N2.16 billion in refund demands, while Zenith Bank Plc and Wema Bank Plc had N17.58 billion and N1.47 billion in refund demands, respectively.

Jaiz Bank Plc had the lowest refund demand, with N863.09 million.

It is worth noting that most of the refund demands were met.