Access Bank leads 9 other banks in number of customer complaints

Access Bank ranks top among Nigerian banks with the highest customer complaints between January 1 to December 31, 2022, the 2021 financial reports of 10 banks have revealed.

According to analysis of the 10 banks’ reports, 583,702 of the 5.2 million customer complaints remained unresolved during the review period.

The 2021 complaint figures represent a massive increase over the 2.69 million complaints received by banks from customers within the same period in 2020.

The 10 banks surveyed are Zenith, Guaranty Trust Bank, First City Monument Bank, United Bank of Africa, Access bank, Fidelity bank, Union bank, Sterling bank, Unity and Wema bank.

A breakdown of the figure of total unresolved complaints shows that Access bank leads the table in the number of complaints.

Access bank report shows that it received a total of 2.1m complaints in a year, with 306,116 unresolved.

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This is followed by the 907,715 received by Fidelity bank, of which 54,909 complaints are unresolved.

GT bank comes third in the number of customer complaints after recording a total of 673,772 complaints. Out of this figure, only 1,605 were unresolved, an almost 100 per cent success rate.

Customer complaints against banks, NBFC and fintech firms to the RBI rose during the lockdown period, but so did the disposal rate, indicating better efficiency in meeting such complaints at the central bank.

The annual ombudsman report, released recently of the central bank deals with three separate ombudsman schemes pertaining to banks, NBFCs and fintech.

However, all three schemes have now been merged into one integrated ombudsman scheme.