In a banking survey conducted by Infotrak, Kenyan customers expressed dissatisfaction with the services provided by the various commercial banks in Kenya. In the poll which was conducted between 19^th and 20^th of July this year, 39 per cent of the respondents selected from the upper and middle class said that they changed banks because of long queues, slow delivery, and congestion. Another 39 per cent also complained about high banking rates and hidden charges. Asked what they like about their current banks, the respondents cited fast and efficient banking services, affordable operational cost and good customer care. Slow Processing of loans, poor branch network, and required minimum balance were also part of the reasons why customers choose to change banks.

Speaking during the presentation of the findings, Angela Ambitho, the CEO of Infortrak Research said that what sets today’s customer apart from the past is that he/she is more discerning. “This tells banks that they should be more proactive”. Today’s customer, according to the research, has grown accustomed to better quality service and better value, and will demand no less.

Interest rates on loans was also a major issue for customers, with 39 per cent of those interviewed saying that they changed banks because of the rates offered on loans. Asked if banks take into account the interests of customers when reviewing their rates, 58 percent felt that commercial banks do not give much thought to the interest of the customer.

The survey was sponsored by Consumer Federation of Kenya (COFEK) and was conducted in nine major towns in Kenya.