15% of UAE customers would recommend their bank to their friends and family

Few UAE consumers actively recommend their bank to their family, friends or colleagues, reveals a study by Souqalmal.com, the leading financial comparison website of the UAE.

Dubai, United Arab Emirates (prHWY.com) January 10, 2012 - Dubai: Few UAE consumers actively recommend their bank to their family, friends or colleagues, reveals a study by Souqalmal.com, the leading financial comparison website of the UAE.

An online poll amongst 2,000 respondents asked one simple question: 'Would you recommend your bank to a friend or a family?'. The results revealed that 15% would recommend their bank, while 25% were neutral and 60% would not consider promoting their bank. This statistic is particularly striking, as in most markets as they mature, active recommendation by its customers becomes one of the key drivers of growth for a bank.

"There is one way banks can start improving those numbers: better customer service. There is a real gap in the UAE market however it requires banks to invest in technology and talent to be able to provide a quick and efficient service to their customers" says Waleed Isaac, Director at Souqalmal.com

When asked the question of why such a sentiment from consumers to a senior employee of a UAE based large international bank, the answer was "Majority of Expats come to the UAE with high service expectations as they are used to in their home country. This expectation even becomes higher when they bank with the same bank both in the UAE and back home. However, banks in the UAE acknowledge this issue and work very hard to continuously improve its capabilities, technology and service levels to meet customers' expectations. "

Souqalmal.com has over 350 products online for comparison and has a fast growing community of consumers who review the products they own today for the benefit of others.

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Tag Words: souqalmal, loans, bank

Categories: Finance

Press Release Contact
For more information or for interviews, email Waleed Isaac at talktous@souqalmal.com or visit www.SouqAlMal.com

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