“ 57% of clients rate their broker's service as excellent, up from 40% last year ”

- 2017 Top Stockbrokers survey

“ 6% of stockbroker clients execute trades worth more than R100,000 a month ”

- 2017 Top Stockbrokers survey

“ 40% of stockbroker clients average monthly trades of R5,000 or less ”

- 2017 Top Stockbrokers survey

“ 52% of clients have assets under management of between R1m and R3m ”

- 2018 Top Private Banks & Wealth Managers Survey

“ 39% of wealth clients have been with the same firm for more than 10 years ”

- 2018 Top Private Banks & Wealth Managers Survey

“ Of the 100 largest JSE-listed companies, 87 conducted BEE deals, 35 of which included public benefit organisations ”

- 2017 Empowerment Endowment

“ R32.6bn in endowments are now held by foundations set up as a result of BEE deals that will support charitable activities ”

- 2017 Empowerment Endowment

“ 50% of clients rate their wealth manager as excellent and 31% as very good ”

- 2018 Top Private Banks & Wealth Managers Survey

“ 33% of clients rate the value for money they get from wealth managers as excellent, against 18% for transactional banking ”

- 2018 Top Private Banks & Wealth Managers Survey

“ R51.6bn value created specifically for charitable recipients through BEE deals ”

- 2017 Empowerment Endowment

“ 81% of clients are very likely or extremely likely to recommend their wealth manager to friends of family ”

- 2018 Top Private Banks & Wealth Managers Survey
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Retail Bank of the Year

The results of the Business Times Intellidex maiden Retail Bank of the Year survey were published in the Sunday Times on 23 March. Read the Business Times package here.

LogoFinalBANKSURVEY

The results stem from an online questionnaire for the general public which ran from 9 November to 20 December 2013.

The purpose of the survey was primarily to garner banking clients’ views on their banks across a range of products and service offerings. All of South Africa’s retail banks were considered, as well as non-bank credit card, home loan and vehicle finance providers. Only institutions where we received a significant amount of feedback were eligible for awards. We considered six product categories (current account, credit card, home loans, savings accounts, car loans, fixed/notice deposits) and two service channels (online banking and mobile banking).

Various different elements were considered to inform the results. Below is a summary of how each of the awards was arrived at.

Overall Bank of the Year
This was based on the average score received for the various services that the institution provides as well as its online and mobile channels. We excluded banks that restrict the customer base by wealth or assets from the overall award, such as private banks. This approach means that banks which do not provide certain services, for example car loans or home loans, were not prejudiced in the assessment. We considered those banks which had received a statistically significant amount of feedback, which included six banks.

Best comprehensive bank
This considered total scores for all products and two distribution channels (online and mobile). Banks providing all six product categories therefore benefited. We considered those banks which had received a statistically significant amount of feedback, which included six banks.

Best exclusive bank
This award considered the average scores for those banks which have an exclusive customer focus, usually called private banks. This year only one bank was considered.

Best current account
Scores were calculated from equally weighting answers to three questions: “how easy was it to open this current account”, “how likely are you to recommend this institution to a friend for this product” and “overall experience with this account”. Six banks were considered.

Best credit card
This was based on a broad assessment of customer feedback on issues including satisfaction with rewards programme, ease of opening account, effectiveness in solving problems, likelihood of recommending card to friends. Twenty credit card providers were considered.

Best home loan
This was based on scores given to two questions: “if you were to sell your home and buy a new one, would you want to take out the new loan with your existing provider” and “overall experience with this account”. Six home loan providers were considered.

Best savings account
This was based on scores given to two questions: “how likely are you to recommend this institution to others for this product” and “overall experience with this account”. Six banks were considered.

Best car loan provider
This was based on scores given to two questions: “should you sell your car and buy a new one, would you take out a new loan with the same institution” and “overall experience with this account”. Six car loan providers were considered.

Best notice/fixed deposit
This was based on responses to two questions: “how likely are you to recommend this institution to others” and “overall experience with this account”. Five banks were considered for this award.

Best online/mobile banking
This was based on feedback given on various service aspects including, cost effectiveness, level of security, website functionality, overall mobile satisfaction levels and website uptime. Six banks were considered for this award.

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