Confidence & perception of consumers in banks and in the Albanian banking sectorublication

Confidence & perception of customers in banks and in the banking sector

AAB

October-November 2022

Study Objectives

Usage and attitudes of banks.

Perception and satisfaction with the banking system

Comparison with the previous waves.

Content

•

Methodology

• Study background

• Executive summary

• Study results

• Annex

Results are presented:

• in aggregate level and then they are further analyzed by breaking down according to the following parameters: gender, urbanity, age, region, level of education, and experience with the main bank.

• In addition, the current findings are compared with previous waves

Methodology

Sample details and timeframe

• This study summarizes 1000 interviews with individuals aged 18 and over, collected from all over Albania with a representative distribution.

• 767 interviews were conducted through IDRApoll (www.idrapoll.com) and the other part, 233 interviews, through CATI (Computer Assisted Telephone Interviewing).

• Results are nationally representative, and interviews were carried out through random selection.

• Data collection time frame: • Current wave: October 2022 (N1000)

• Second wave: December 2019 (N400)

• First wave: June 2019 (N600)

• Margin of Error (N1000): ± 3.1%

Background of Banking System 2019-2022 (I/II)

• The summary of recent financial system developments in Albania, aims to deepen our understanding of the changes that have affected people’s perceptions of second-level banks.

• Due to the health crisis of COVID-19, the unprecedented situations in the last two years have marked a historic shock on the worldwide economies, obliging governments to undertake extreme measures and disrupt a range of public and private activities.

• The Albanian government declared a state of emergency in March 2020, which impacted several economic activities.

• The reduced demand and international prices increased the inflation rate, which has been reflected in an expectation of higher interest rates and higher yields in international markets.

• As a result of the monetary policy actions by the Bank of Albania and other financial institutions, BoA claims that the contraction of the Albanian economy was followed by decreased uncertainty and faster domestic and foreign demand.

• Besides the health crises that impacted the overall economy, the financial system in Western Balkans is reported to have operated steadily, entering this crisis with strong capital and liquidity aggregates.

• Bank mergers and license revocations in Albania have strengthened the system through consolidation.

• While in Montenegro, two banks with insufficient capitalization were subject to the liquidation process.

• In Kosovo, bringing private enforcement agents in and out of the balance of problem loans has led to their reduction, marking the lowest historical level of 2 percent to total loans at the end of 2019.

• Even though the loans have decreased in all countries, they remain at high levels in Albania and BH. It was anticipated that people would seem more drawn to major investments like the acquisition of real estate given the declining levels of national productivity and employment. According to Bank of Albania statistics, 215 million euros worth of house loans were given to Albanian families last year, totaling 26.5 billion ALL.

• Even more so when this investment is backed by taking out sizable, long-term loans, like mortgages.

• In 2021 and 2022, several cyber-attacks occurred in Albania including the collapse of the e-Albania system, TIMS, and the leak of personal data from both the public and private sectors paralyzed many public services and transactions.

• These events have influenced the planned technological improvements in public and private institutions.

• Even though the Albanian banking institutions are consolidated and highly professional, the banking system is inconsistently ranked with the lowest rate for Ecommerce in the region.

• However, according to the Bank of Albania Report, debit card usage increased in 2021.

• In October 2021, the operationalization of the interbank scheme for “Direct Debit” was realized, and in January 2022, the AIPS EURO system for settling payments in euros within the country for bank customers started operating.

Executive summary

Confidence & perception of customers in banks and in the banking sector

Executive Summary (I/VI)

Product Usage

• Results show that debit card is the most used banking product with 52% of the bank users who declared that they currently use them. The second most used product is a credit card with 21% of the bank users and the next is a saving account with 17% of the bank users.

• Men, bank users from Tirana, older people, bank users with more experience with their main bank, and bank users who use digital banking products are those who currently use more banking products than others.

• When comparing the results with the previous waves, there is an increase in the usage of debit cards (52% in the 2022 study, versus 44% in the second wave and 46% in the first wave) but experienced a decrease in other banking products.

Confidence in Industries

• Survey findings show that the banking system is the most trusted industry, compared to other industries (34% of the bank users trust “completely” or “somewhat”). There is no significant change from the second-wave study.

• Women, bank users living in rural areas, older people, bank users with high school or lower level of education, and bank users who do not live in Tirana have higher confidence in most of the industries, like the banking system, Bank of Albania, Educational institutions, etc.

• When asked about the level of trust in their main bank, data show that there is a high level of trust (5.6 out 7). There is no significant change with the data from the second wave study.

• Bank users living in rural areas, with high school or lower level of education, and those who live outside of Tirana tend to trust their main bank more.

Executive Summary (II/VI)

Bank’s Transparency

• Most of the bank users agree about the transparency of their bank. About 79% of the bank users “completely agree” or “somewhat agree” that “The information from the bank is clearly legible and understandable” .

• The statement that the bank users agree the least with is “The bank provides the access to the information needed to find out if it is financially sound” (56% “completely agree” and “somewhat agree”).

Evaluation of Banking System

• Bank users were presented with some statements to evaluate their experience with their main bank. Almost all (93% “completely agree” or “somehow agree”) bank users agree that their main bank “is easily accessible online (mobile/online banking) or by phone”.

• Second most agreed statement (54% “completely agree” or “somehow agree”) about their main bank is “It communicates in a language I understand”.

• There is no considerable change in the level of agreement about the bank’s transparency, compared to the second wave study.

• Bank users living in rural areas, those with high school or lower level of education, and bank users living outside of Tirana tend to agree more about the bank’s transparency.

• The lowest level of agreement (54% “completely agree” or “somehow agree”) is on the statement “It helps me make financial decisions”. No significant change is seen compared to the second wave (only that their bank now is easier to access online).

• Bank users living in rural areas and outside of Tirana tend to give a higher level of evaluation about the banking system.

Executive Summary (III/VI)

Contact with the bank

• Survey findings show that still, as in the previous waves, most of the people (74%) contact the bank directly by going to the branch.

• Almost half of the bank users (46%) contact the bank through the mobile banking app.

• Other ways that bank users contact their bank are by call/SMS (17%), on the homepage of the bank (13%), etc.

• More bank users living in urban areas, outside of Tirana, young bank users (less than 44 years old), with university or higher level of education, bank users with longer experience with their main bank, than other citizens, contact the bank through mobile banking app (smartphone, tablet).

Bank’s Honesty

• Bank users were presented with some statements about the bank’s honesty. Results from the survey show that the statement that respondents agree with the most is “With the bank I can be sure I will get the service I pay for” (75% “completely agree” or “somewhat agree”).

• The least evaluated is “The bank contributes by investing in projects and sponsorships for the benefit of the whole community” (42% “completely agree” or “somewhat agree”), meaning that respondents do not think that this is the case of their main bank. There is no significant difference when compared to the data from the second wave study.

• Bank users living in rural areas, with high school or lower level of education, and bank users living outside of Tirana tend to give a higher evaluation for the statements related to the bank’s honesty.

Executive Summary (IV/VI)

Frequency of Contact Complains

• Even though the most used way of contact is by going to the branch, the frequency of this contact is the lowest when compared to digital contact. Only 27% of those who contact their bank by going to the branch, do so at least several times a month; compared to 84% of those who contact their bank through a mobile banking app, who do so at least several times a month; and 76% of those who contact the bank through online banking do so at least several times a month.

• About 9% of the bank users have delivered a complaint to their bank.

• On the other hand, 80% had no complaints in the 2022 wave of the study, compared to 78% in the second wave and 68% in the first wave study. According to a 2022 study, around 33% of the bank users who have delivered a complaint to their bank, are “very disappointed” or “disappointed” with the way their most recent complaint has been resolved, compared to 44% in the first wave study.

• Compared to the first wave study, there is a lower frequency of contacting the bank by going to the branch and through mobile banking, while it is an increase in the frequency of contacting through online banking.

• When asked about the preferred ways to complain to their bank, if they want to complain, 63% of the bank users would prefer to complain directly by going to the bank.

• Fewer respondents from Tirana, with high university or higher level of education, bank users living in urban areas, and men, prefer to go physically to the bank, than others.

Executive Summary (V/VI)

Digital Usage

• About half of the bank users (50%), use digital banking products, where 39% use only mobile banking, 4% only online banking, and 7% use both of them.

• Of those who use both, 73% apply more often mobile banking, while 27% online banking.

• It is observed no significant differences among waves about the proportion of the usage of digital banking, except that more respondents use mobile banking and less online banking.

• Most digital banking users are satisfied when using mobile/online banking (84% of mobile banking users are “very satisfied” or “satisfied” when using mobile banking and 83% of online users are “very satisfied” or “satisfied” when using online banking.

• Almost all digital banking users, use the mobile/online banking application for checking the balance of their account /debit or credit card (98%).

• Half of the digital product users (51%), use the mobile/online banking application for bank transfers.

• Older bank users, with high school or lower level of education, living in rural areas and outside of Tirana use way fewer digital banking products, compared to others.

• About 42% of digital banking products users, use them for utility payments and/or payment of fines.

Executive Summary (VI/VI)

NPS – Net Promoter Score

• When calculating the Net Promoter Score, results show that the evaluation for the Banking sector in Albania is 28.

• There is a noticeable improvement from previous waves (NPS equal to 28 in the 2022 study, compared to 24 in the second wave and 9 in the first wave study).

• Bank users living outside of Tirana, with more experience with their main bank as well as women, older people (older than 44 years old), bank users living in rural areas, and bank users with high school or lower level of education are more prone to promote their main bank than others (they have a higher evaluation of NPS, compared to other groups).

• About half of the bank users (49%) are prone to promote their main bank, while 21% would not recommend their main bank to their colleagues or acquittances.

• The main reason to promote their main bank, according to the survey findings, is its safety and reliability (34% of the bank users are prone to promote their main bank).

• The second most mentioned reason is the correctness and quality of the banking services (26%).

• On the other hand, the main reason that 12% of the detractors would not recommend their main bank is that it has different banking costs and high commissions.

• The other reasons mentioned detracting are lack of correctness/poor quality of banking services (11%) and lack of technology/innovation (11%).

Product Usage

In total and by gender

58% 22% 16% 11% 4% 0%

Which of the following bank products do you currently use?

o According to survey findings, debit card is the most used product (52% of the bank users declare that they currently use it).

o Data show that the second most used product is credit card (21%), while the third is savings account (17%).

o Still Albanians use way less debit cards, when it is expected that most of the people who are bank users to use debit card.

o Men declare to currently use more banking products than women.

o There is a significant difference in the usage of debit card between men and women (58% of men use debit card, versus 46% of women).

Product Usage

By region

Which of the following bank products do you currently use?

Tirana (N=291) Non-Tirana (N=709) Total

Debit card Credit card Savings account

Consumer / personal loans Home Loans (Mortgage) Government securities Other product

49% 25% 20% 13% 8% 1% 2%

52% 19% 16% 8% 3% 0% 2%

52% 21% 17% 10% 4% 1% 2%

o Analyzing the data disaggregated by region, it stands out that bank users from Tirana are more likely to use credit card than respondents from other regions, respectively 25% in Tirana versus 19% in other regions.

o The same goes for the usage of saving accounts, consumer/personal loans, home loans and government securities.

o On the other hand, respondents from other regions (not Tirana) are more likely to use the debit card (49% in Tirana, versus 52% in other regions).

Product Usage

Comparison with previous waves

Which of the following bank products do you currently use?

First wave (N=622) Second wave (N=400) 2022 study (N=1000)

o According to survey finding, there is an increase in the number of people who use debit card, compared to the data from the previous waves (52% of the bank users currently use debit card in 2022, compared to 44% in second wave and 46% in first wave).

o On the other hand, there is a decrease in the number of people who currently use other products apart from debit card, as credit card, saving accounts, consumer/personal loans and on home loans.

Confidence in

How much do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

o The data show that the banking system as in the previous waves is the most trusted industry compared to other industries (34% of the respondents trust with 6 and 7 on a scale from one to seven, where seven is completely and one is not at all).

o Second most trusted industry is the Bank of Albania, with 29% who declare they trust “completely” or “somewhat”.

o Political parties is the least trusted industry (only 5% declare to “completely” or “somewhat” trust).

Confidence

Confidence in industries

By region

How much do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

1 2 3 4 5 6 7 The banking system The Bank of Albania Educational

o Survey findings show that there is a significant difference between regions in the level of trust in different industries.

o In general, respondents living in Tirana have a lower confidence/trust in each of the industries listed in the questionnaire , compared to respondents living in other regions.

Confidence in industries

Comparison with the previous waves

How

much

do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

2 3 4 5 6 7 The banking system The Bank of Albania

1

o When comparing the data with second wave, there is no significant difference in the level of confidence in the banking system (an improvement of 2%).

Note: Only the statement which are part of the two studies are taken in consideration. This question was not part of the first wave study.

Bank’s

o When asked how much the respondents trust their main bank, data show that in total the evaluation for the main bank is above average (5.6 out of 7).

o Respondents living in rural areas, with high school or lower education and those living in other regions from Tirana tend to have a higher level of trust in their main bank.

Bank’s

o When asked about the main reason that determines the degree of trust in their main bank, 34% mention safety/reliability/correct ness.

o Around 16% mention being overall pleased as a positive driver and about 11% mentioned providing quality services.

o Among the most mentioned negative drivers for not trusting their main bank are

Bank’s trust Comparison

Comparison between the main bank, Bank of Albania and Banking System.

1=No trust at all to 7=Trust completely

o Data show that the level of confidence/trust of the bank users is higher for their main bank than for the Banking System and Bank of Albania.

o The level of trust in their main bank is 5.6/7, which is 24% higher than the evaluation for the Bank of Albania and about 19% higher than for the Banking System.

Bank’s trust

Comparison with the previous waves

How much do you trust your main bank?

1=No trust at all to 7=Trust completely

o Comparing the data with the second wave, there can not be seen any significant difference in the level of the trust in respondent’s main bank (it is only an improvement with 0.15/7 points or 2% increase).

Evaluation of Banking System

To what extent do you agree or disagree with these statements about your main bank?

Do not agree at all Somehow disagree Neutral Somehow agree Completely agree DK

o Respondents were presented with a list of statements about their main bank and asked whether they agree or not.

30% 22% 33%

o Survey findings show that the statement that respondents agree the most is “It is easily accessible online (mobile/online banking) or by phone” (93%, “completely agree” or “somehow agree”).

o The second most agreed statement is “It communicates in a language I understand” (86% “completely agree” or somehow agree”).

o The least agreeable statement is “It helps me make financial decisions” (only 54% “completely agree” or somehow agree”).

Evaluation of Banking System

By region

To what extent do you agree or disagree with these statements about your main bank?

Tirana Non-Tirana

Don’t agree at all

Completely agree

1 2 3 4 5

It is easily accessible online (mobile / online banking) or by phone

It communicates in a language I understand

It is transparent in my financial transactions

The bank application (mobile banking) is always improving (update, new features)

Has skilled (professional) staff

Respects its customers

Financially it is a healthy bank

It has a wide network of branches

All the services that interest me can be found among the services offered by the BANK mobile application

Fulfills agreements reached and keeps promises

Informs me about changes in products and services

Advises on products that are of interest to customers

It helps me make financial decisions

o Disaggregating the data by region shows that respondents from other regions (not from Tirana) tend to agree more than those living in Tirana.

o The largest difference is noticed in the statement “It helps me make financial decisions”, where respondents living in Tirana give an evaluation of 3.3 out of 5, compared to 3.8 out of 5 for respondents living other regions.

Evaluation of Banking System

Comparison with the previous waves

It is easily accessible online (mobile / online banking) or by phone

It communicates in a language I understand

It is transparent in my financial transactions

Has skilled (professional) staff

Respects its customers

Financially it is a healthy bank

It has a wide network of branches

Fulfills agreements reached and keeps promises

Informs me about changes in products and services

Advises on products that are of interest to customers

It helps me make financial decisions

To what extent do you agree or disagree with these statements about your main bank?

Second wave 2019 (N=400) 2022 study (N=1000)

Don’t agree at all

Completely agree

1 2 3 4 5

o When comparing the data with the second wave, there is an increase in the level of agreement about the statement “It is easily accessible online (mobile banking) or by phone” (an increase with 0.21/5 points or 4.2%).

Note: Only the statement which are part of the two studies are taken in consideration. This question was not part of the first wave study.

Bank's transparency

Do not agree at all Somehow disagree Neutral

Somehow agree Completely agree DK

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

If I ask the bank for general information, it responds quickly and smoothly

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

o Survey findings show that the bank’s transparency statement for which respondents agree the most about their bank is “The information from the bank is clearly legible and understandable” (79% “completely agree” and “somewhat agree”).

o The second most agreed statement for Bank’s transparency is “The bank offers me a clear and understandable explanation of it’s products” (73% “completely agree” and “somewhat agree”).

o The statement the bank users agree the least with is “The bank provides the access to the information needed to find out if it is financially sound” (56% “completely agree” and “somewhat agree”).

To what extent do you agree or disagree with these statements about your bank?

Bank's transparency

By region

Tirana Non-Tirana

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

If I ask the bank for general information, it responds quickly and smoothly

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

The bank provides me with access to the information needed to find out if it is financially sound

Don’t agree at all

Completely agree

1 2 3 4 5

o Survey findings show a significant difference between respondents living in Tirana and those who live in other regions.

o Respondents living in other regions apart from Tirana agree significantly more with the statements about the bank’s transparency, compared to respondents who live in Tirana.

To what extent do you agree or disagree with these statements about your bank?

Bank's transparency

Comparison with the previous waves

Second wave 2019 (N=400) 2022 study (N=1000)

1 2 3 4 5

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

If I ask the bank for general information, it responds quickly and smoothly

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

The bank provides me with access to the information needed to find out if it is financially sound

o There is no significant difference in the results about the bank’s transparency compared to the second wave.

Note: This question was not part of the first wave study.

To what extent do you agree or disagree with these statements about your bank?

Bank's honesty

Do not agree at all Somehow disagree Neutral Somehow agree Completely agree DK

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

The bank first considers my interests as a customer

High-level executives at the bank point out that money is not their only consideration

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community

o Respondents were presented with some statements about the bank’s honesty.

o Survey findings show that the bank’s honesty statement for which respondents agree the most is “With the bank I can be sure I will get the service I pay for” (75% “completely agree” or “somewhat agree”).

o The last of the listed statement, regarding which respondents agree the least is “The bank contributes by investing in projects and sponsorships for the benefit of the whole community” (42% “completely agree” or “somewhat agree”).

o To be noted is the high percentage of the respondents who choose “don’t know”.

To what extent do you agree or disagree with these statements about your bank?

Bank's honesty

By region

Don’t agree at all

Tirana Non-Tirana

Completely agree

1 2 3 4 5

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community

High-level executives at the bank point out that money is not their only consideration

The bank first considers my interests as a customer

o Disaggregating data by region, shows that respondents from Tirana tend to disagree more regarding the statements about bank’s honesty.

o There is a significant difference in the level of agreement for each of the statements regarding the bank’s transparency among respondents from Tirana and from other regions.

To what extent do you agree or disagree with these statements about your bank?

Bank's honesty

Comparison with the previous waves

Second wave 2019 (N=400) 2022 study (N=1000)

1 2 3 4 5

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community

High-level executives at the bank point out that money is not their only consideration

The bank first considers my interests as a customer

o There is no considerable difference about the bank’s honesty compared to the second wave data.

Note: This question was not part of the first wave study.

To what extent do you agree or disagree with these statements about your bank?

Contact with the bank

Total and by gender

Through which of the following ways (touching points) did you contact the bank this last 6 months?

o Still, most of the people (74%) contact the bank directly by going to the branch.

o Almost half of the respondents (46%) contact the bank through mobile banking app.

o There is no significant difference among men and women regarding the ways to contact the bank.

Contact with the bank

By region

71% 56% 15% 18% 21%

Through which of the following ways (touching points) did you contact the bank this last 6 months?

o Data show that respondents living in Tirana have contacted the bank through mobile banking more than in the other regions (56% in Tirana, versus 42% in other regions), through the Call center services (21% in Tirana, versus 7% in other regions).

Contact with the bank

Comparison with the previous waves

Through which of the following ways (touching points) did you contact the bank this last 6 months?

Second wave 2019 (N=400) 2022 study (N=1000)

o When compared to the data from the second wave, survey findings show that there is an increase in the contact with the bank.

o The largest increase is noticed in contact through mobile banking (20% in 2019, versus 46% in 2022).

Frequency of contact

Could you please tell us how often you use these methods?

times a day Several

Going to the branch (N=740)

Several 84%

Through mobile Banking app (smartphone, tablet) (N=461)

a

o Even though the most used way of contact is by “going to the branch”, the frequency of this contact is lower compared to digital contact.

o Only 27% of the respondents who have contacted the bank by going to the branch during the last 6 months, do so at least several times a month.

o On the other hand, 76% of those who contacted the bank through online banking do so at least several times a month, while 84% of those who have contacted the bank during the last 6 months through mobile banking do so at least several times a month.

Frequency of contact

Tirana (N=206)

o Data show that respondents living in Tirana contact their main bank slightly less often by going to the branch than respondents from other regions, respectively 26% versus 28% contact at least several times a month.

o The same goes to the contact through online banking, respectively 71% in Tirana versus 78% in other regions.

o On the other hand, respondents living in Tirana contact their main bank more often through mobile banking than those living in other regions, respectively 88% versus 82%.

o Survey findings show that there is a decrease in the frequency of the contact through mobile banking and by going to the branch, when comparing the results for 2022 study with the results from the first wave.

o On the other hand, there is an increase in the frequency of contact through online banking.

Usage of digital banking products

The usage of digital banking products.

Online banking only 4%

Mobile banking only 39% Both online and mobile banking 7%

Online banking Mobile banking Which service do you use the most (N=66)

o Half of the respondents declare to not use online or mobile banking. The other half (50%) use at least online or mobile banking.

o Four in ten (39%) respondents declared that they use only mobile banking, while 4% declared that they use only online banking.

o Of those who use both online and mobile banking (7%), most of them (73%) use mobile banking the most . Neither online, nor mobile 50%

Usage of digital banking products

Total Male (N=454) Female (N=546) 18-24 years (N=188) 25-34 years (N=342) 35-44 years (N=302) More than 44 years (N=168) High school or lower (N=255) University or higher (N=745) Tirana (N=291) Non-Tirana (N=709) Urban (N=578) Rural (N=422)

The usage of digital banking products.

o Data shows that older people (more than 44 years old), bank users with high school or lower, those that are not living in Tirana and those living in rural areas use less than others mobile or online banking.

o Bank users from Tirana, use significantly more mobile banking compared to bank users from other regions, respectively 46% versus 37%.

Usage of digital banking products

To what extent do you agree or disagree with these statements:

Do not agree at all Somehow disagree Neutral Somehow agree Completely agree

I can easily carry out my daily banking operations through the mobile application (mobile banking) (N=461)

I can usually use online banking without service interruption (N=108)

I can usually use the mobile application (via mobile phone) without service interruption (N=461) I feel safe with online banking (N=108)

I can easily find the required information on the banks website (N=134)

I can easily carry out my daily banking operations through online platforms (N=461)

o Between the digital banking product users, 84% “somehow agree” or “completely agree” that they can easily carry out their daily banking operations through mobile application.

o On the other hand, fewer people (75%) “somewhat agree” or “completely agree” that they can easily carry out their daily banking operations through online platforms.

Usage of digital banking products

By region

Non-Tirana

To what extent do you agree or disagree with these statements:

Tirana

1 2 3 4 5

I can easily carry out my daily banking operations through the mobile application (mobile banking)

I can usually use online banking without service interruption

I can usually use the mobile application (via mobile phone) without service interruption

I can easily carry out my daily banking operations through online platforms

I feel safe with online banking

I can easily find the required information on the banks website

o No significant difference between digital banking users from Tirana and other regions.

Usage of digital banking products

Total and by region

Online banking (N=108)

How satisfied are you in general with using the online/mobile banking service at your main bank?

o Of those who use mobile banking, 84% are “very satisfied” or “satisfied” with the use of it.

o Of those who use online banking, 83% are “very satisfied” or “satisfied” with the use of it.

o Digital banking users who do not live in Tirana are more satisfied than those who live in Tirana.

Usage of digital banking products

*Only those who use mobile/online banking

o Data show that almost all the respondents (98%) who use mobile/online banking application use it for checking the balance of the account/debit or credit card.

o Also, most of the users of digital banking, use it for bank transfers (51%); for utility payments, utility bills, payment of fines (42%).

Usage of digital banking products

o Survey findings show that digital banking users who live in Tirana, compared to other regions, use more mobile/online banking products for bank transfers (61% in Tirana, versus 46% in other regions), and utility payment, utility bills, payment of fines (55% in Tirana, versus 34% in other regions).

Complains

Have you filed a complaint with your bank in the last 12 months?

11% - no, I have had a complaint, but I did not submit to my bank

80% - no complaints 9% - yes, I have delivered a complaint to my bank

Complaint handling

No, I have had no complaints

I have had a complaint, but I did not submit this to my bank

My complaint was taken seriously from the beginning and I have resolved it

Complaint handling (N=87)

My complaint was not taken seriously, but after my persistence now I have resolved it

My complaint was taken seriously but I have not resolved it yet

Complaint handling

Comparison with the previous waves

Have you filed a complaint with your bank in the last 12 months?

First wave 2019 (N=622) Second wave 2019 (N=400) 2022 study (N=1000)

No, I have had no complaints

No, I have had a complaint, but I did not submit this to my bank

Yes, I have delivered a complaint to my bank

80%

o More bank users in the 2022 study declare that they have had no complaints with their bank (80% in the 2022 study, versus 78% in the second wave and 68% in the first wave).

o Fewer bank users declared that they have had complaints, but they have not submitted to their bank (11% in 2022 study, versus 16% in second wave and 21% in first wave). 9%

11%

Complaint handling

Comparison with the previous waves

How satisfied are you with the way your most recent complaint has been resolved?

First wave 2019 (N=69) 2022 study (N=87)

o Compared to the data from the first wave, data show that bank users are slightly more satisfied in the 2022 study with the way their most recent complaint was resolved, (35% in the first wave, versus 38% in the 2022 study). 5%

Very satisfied Satisfied Neither satisfied nor disappointed Disappointed Very disappointed 35% 38%

Note: This question was not part of the second wave study.

Preferred ways to complain

By physically going to the bank

Through the call center

Through the application

Calling my banker

No way, I would not complain

Through comments or messages on the banks profiles on social networks

Other

In case you have a complaint of any kind about your bank, which method would you prefer to use? 63% 16% 11% 6% 2% 1% 2%

o Data show that most of the respondents (63%) would prefer to physically go to the bank if they have a complaint.

o About 16% would prefer to complain through the call center, 11% through the application, 6% by calling their banker.

Preferred ways to complain

By region and education

Tirana (N=291) Non-Tirana (N=709)

By physically going to the bank

Through the call center

Through the application

Calling my banker

No way, I would not complain

Through comments or messages on the banks profiles on social networks Other

53% 24% 11% 6% 2% 1% 3%

68% 13% 10% 6% 2% 1% 1%

In case you have a complaint of any kind about your bank, which method would you prefer to use?

High school or lower (N=255) University or higher (N=745)

By physically going to the bank

Through the call center

Through the application

Calling my banker

No way, I would not complain

Through comments or messages on the banks profiles on social networks Other

78% 10% 4% 5% 2% 1% 2%

58% 18% 13% 6% 2% 1% 2%

o Results show that more respondents living outside Tirana than those living in Tirana (68% versus 53%) and more respondents with high school or lower than those with university or higher (78% versus 58%), would prefer to go physically to the bank, if they have a complaint towards their bank.

o On the other hand, more respondents living in Tirana than others (24% versus 13%) and with university or higher than others (18% versus 10%) would prefer to complain through the call center.

o In addition, more respondents with university or higher than others would prefer to complain through the application (13% versus 4%).

NPS Calculation

Considering all the experiences you have had with your main bank, would you recommend it?

• NPS is calculated from the question: How likely are you to recommend your main bank to a friend or relative? On a scale from 0 to 10, where

0=”definitely would not recommend it” and 10=”definitely would recommend it”.

• The evaluation for their respective main bank will serve as an indicator of their evaluation for the whole banking system.

• To be followed by an open-ended request for elaboration on the respondents respective evaluation.

Considering all the experiences you have had with your main bank, would you recommend it?

o The Net Promoting Score for the Banking sector in Albania is evaluated 28 points.

o Data show that 49% of bank users promote their main bank, while 21% would not recommend it (30% are neutral/passive).

o When asked about the reasons to promote their main bank, most of the respondents (34%) stated the safety/reliability of the bank.

o About 26% of the respondents declared that the major reason for promoting their main bank is correctness and quality of banking services

NPS by region and experience with main bank

o Survey findings show that bank users living outside of Tirana are more prone to recommend their main bank than those living in Tirana, respectively an NPS equal to 34 versus 12.

o Regarding the years of experience with their main bank, bank users with less than 1 year experience are less likely to recommend their main bank than others (respectively an NPS equal to 7 compared to 30 or more for bank users with more than 1 year of experience).

NPS

Comparison with the previous waves

o When comparing the data with the previous waves, stands out that there is an increase in the NPS evaluation for the banking system in Albania.

o There is an increase with 4 points in the 2022 study compared to second study and an increase with 19 points compared to the data from the first study.

o Bank users living in rural areas declare to currently use more debit card than those living in urban areas (47% of bank users in urban areas, compared to 58% of bank users in rural areas).

o Data show a significant difference in the usage of credit card (only 11% of respondents with high school or lower level of education currently use credit card compared to 24% of the respondents with university or higher level of education).

Product Usage

By experience with main bank

Which of the following bank products do you currently use?

(N=590)

o When analyzing the data by experience with the main bank, there is a positive relation between the years of using the bank and the product usage.

o Those who declare to have a longer experience with the bank (the main bank) are more likely to use all the products that the bank offers.

o Data shows that

with longer experience

more prone

o Respondents that use digital banking products are more likely to use all the products that the bank offers.

o The largest difference in favor of those who use digital banking products is the usage of credit card (16% of those who do not use digital banking, versus 26% of those who use digital banking).

Confidence in industries

By gender

The banking system

The Bank of Albania Educational institutions

Governmental platform, E-Albania INSTAT Telephony companies Medical care Media Savings and loan associations Government Court system

How much do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

Political parties

1 2 3 4 5 6 7

Male Female Not at all Completely Significant difference

o When disaggregating the data by gender, women tend to trust more the studied industries, compared to men, but it is not significant in most cases.

o The largest difference is in the trust of Governmental platform, E-Albania (3.8 out of 7 for men, versus 4.3 out of 7 for women).

Confidence in industries

By urbanity

The banking system The Bank of Albania Educational institutions

How much do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

Urban Rural

1 2 3 4 5 6 7

Not at all Completely

o Data show that in general respondents living in rural areas tend to have more trust in the industries listed in the graph.

o Respondents living in urban and rural areas have the same level of confidence/trust in political parties.

Confidence in industries

By age

How much do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

1 2 3 4 5 6 7

18-24 years 25-34 years 35-44 years + 44 years Not at all Completely Significant Difference

o Disaggregating the data by age shows that respondents aged over 44 years are more likely to trust each of the industries listed in the survey.

Significant Difference

Significant Difference

Significant Difference

o The largest difference among age groups is in the trust of the Government and Governmental platform, E-Albania (Young people are those who trust the least).

Confidence in industries

By education

How much do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

High school or lower University or higher Not at all Completely

1 2 3 4 5 6 7 The banking system The Bank of Albania Educational institutions Governmental platform, E-Albania INSTAT Telephony companies Medical care Media Savings and loan associations Government Court system Political parties

o Data show that there is a significant difference between respondents who have university or higher education, compared to those with high school or lower.

Largest Difference

o Respondents with university or higher education tend to trust more each of the industries listed in the survey.

Confidence in industries

By experience with main bank

How much do you trust the following industries:

On a scale from 1=Not at all to 7=Completely

1 2 3 4 5 6 7 The banking system The Bank of Albania Educational institutions Governmental platform, E-Albania INSTAT

o When disaggregating the data by experience with the main bank, there is no clear pattern.

o There is no significant difference in the level of confidence in the banking system between respondents with different years of experience with the main bank.

Evaluation of Banking System

By gender

Male Female

Don’t agree at all

Completely agree

1 2 3 4 5

It is easily accessible online (mobile / online banking) or by phone

It communicates in a language I understand

It is transparent in my financial transactions

The bank application (mobile banking) is always improving (update, new features) Has skilled (professional) staff

Respects its customers

Financially it is a healthy bank

It has a wide network of branches

All the services that interest me can be found among the services offered by the BANK mobile application

Fulfills agreements reached and keeps promises

Informs me about changes in products and services

Advises on products that are of interest to customers

It helps me make financial decisions

o Data

To what extent do you agree or disagree with these statements about your main bank?

show that there is no significant difference in the level of agreement with the statements listed in the questionnaire between man and women.

Evaluation of Banking System

By urbanity

To what extent do you agree or disagree with these statements about your main bank?

Urban Rural

Don’t agree at all

Completely agree

1 2 3 4 5

It is easily accessible online (mobile / online banking) or by phone

It communicates in a language I understand

It is transparent in my financial transactions

The bank application (mobile banking) is always improving (update, new features)

Has skilled (professional) staff

Respects its customers

Financially it is a healthy bank

It has a wide network of branches

All the services that interest me can be found among the services offered by the BANK mobile application

Fulfills agreements reached and keeps promises

Informs me about changes in products and services

Advises on products that are of interest to customers

It helps me make financial decisions

o Disaggregating the data by urbanity, it can be noted that respondents living in rural areas tend to agree more than respondents living in urban areas.

o The largest difference is on the evaluation of the statement “Has skilled (professional) staff”, where respondents living in urban areas give a evaluation of 4.1 out of 5, compared to those living in rural areas who give 4.4 out of 5.

Evaluation of Banking System

By education

High school or lower University or higher

Don’t agree at all Completely agree

1 2 3 4 5

It is easily accessible online (mobile / online banking) or by phone

It communicates in a language I understand

It is transparent in my financial transactions

The bank application (mobile banking) is always improving (update, new features)

Has skilled (professional) staff

Respects its customers

Financially it is a healthy bank

It has a wide network of branches

All the services that interest me can be found among the services offered by the BANK mobile application

Fulfills agreements reached and keeps promises

Informs me about changes in products and services

Advises on products that are of interest to customers

It helps me make financial decisions

o When looking the data disaggregated by the level of education, it can be noted that respondents with high school or lower, tend to have a higher level of agreement for most of the statements, except in the ease of the online access.

To what extent do you agree or disagree with these statements about your main bank?

Evaluation of Banking System

By experience with main bank

It is easily accessible online (mobile / online banking) or by phone

It communicates in a language I understand

To what extent do you agree or disagree with these statements about your main bank?

It is transparent in my financial transactions

The bank application (mobile banking) is always improving (update, new features)

Has skilled (professional) staff

Less than 1 year 1-2 years 2-3 years More than 3 years

Don’t agree at all Completely agree

Respects its customers

Financially it is a healthy bank

It has a wide network of branches

All the services that interest me can be found among the services offered by the BANK mobile application

Fulfills agreements reached and keeps promises

Informs me about changes in products and services

Advises on products that are of interest to customers

It helps me make financial decisions

Bank's transparency

By gender

Male Female

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

If I ask the bank for general information, it responds quickly and smoothly

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

The bank provides me with access to the information needed to find out if it is financially sound

Don’t agree at all Completely agree

1 2 3 4 5

o There is no significant difference between men and women in their level of agreement about the bank’s transparency.

o Overall, women tend to agree more than men with all the statements abut the bank’s transparency (but none of them is significant).

To what extent do you agree or disagree with these statements about your bank?

Bank's transparency

By urbanity

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

Urban Rural

If I ask the bank for general information, it responds quickly and smoothly

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

The bank provides me with access to the information needed to find out if it is financially sound

Don’t agree at all

Completely agree

1 2 3 4 5

o Data by urbanity show that respondents living in rural areas tend to agree more about the statements of bank’s transparency than those who live in urban areas.

o The largest difference between respondents living in urban and rural areas is on the statement “The information from the bank is clearly legible and understandable” (an evaluation of 4.1 out of 5 for urban areas and 4.4 out 5 for rural areas).

To what extent do you agree or disagree with these statements about your bank?

Bank's transparency By age

1

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

If I ask the bank for general information, it responds quickly and smoothly

18-24 years 25-34 years 35-44 years + 44 years

Don’t agree at all Completely agree

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

The bank provides me with access to the information needed to find out if it is financially sound

To what extent do you agree or disagree with these statements about your bank?

Bank's transparency

By education

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

If I ask the bank for general information, it responds quickly and smoothly

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

The bank provides me with access to the information needed to find out if it is financially sound

High school or lower University or higher

Don’t agree at all

Completely agree

1 2 3 4 5

o Data show that respondents with high school or lower level of education tend to agree more about the statements related to the bank’ transparency.

o The largest difference is on “If I need to contact a bank employee, the right person is quickly available to me” (respondents with high school or lower give an evaluation of 4.2 out of 5, versus 3.9 out 5 for respondents with university or higher).

To what extent do you agree or disagree with these statements about your bank?

Bank's transparency

By experience with main bank

The information from the bank is clearly legible and understandable

The bank offers me a clear and understandable explanation of its products

If I ask the bank for general information, it responds quickly and smoothly

Less than 1 year 1-2 years 2-3 years More than 3 years

o

If I need to contact a bank employee, the right person is quickly available to me

The bank clearly explains to me why costs, interest rates or other terms and conditions change

The bank provides me with access to the information needed to find out if it is financially sound

Don’t agree at all

Completely agree

1 2 3 4 5

To what extent do you agree or disagree with these statements about your bank?

No significant differences in the level of agreement about the bank’s transparency among respondents with different years of experience in their main bank.

Bank's honesty

By gender

Male Female

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community

High-level executives at the bank point out that money is not their only consideration

The bank first considers my interests as a customer

Don’t agree at all

Completely agree

1 2 3 4 5

o No significant difference between men and women regarding the statements about the bank’s honesty.

o Even if not significant, women tend to agree more than men with the listed statement.

To what extent do you agree or disagree with these statements about your bank?

Bank's honesty

By urbanity

Urban Rural

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community

High-level executives at the bank point out that money is not their only consideration

The bank first considers my interests as a customer

Don’t agree at all

Completely agree

1 2 3 4 5

o Data show that respondents who live in rural areas tend to agree more about the bank’s honesty, compared to those who live in urban areas.

o The largest difference is noticed in the statement “If the bank turns out to have done something wrong, it corrects it as soon as possible” (3.7 out of 5 in urban areas, compared to 4.1 out of 5 in rural areas).

To what extent do you agree or disagree with these statements about your bank?

Bank's honesty By age

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community

High-level executives at the bank point out that money is not their only consideration

18-24 years 25-34 years 35-44 years + 44 years

The bank first considers my interests as a customer

Don’t agree at all

Completely agree

1 2 3 4 5

To what extent do you agree or disagree with these statements about your bank?

Bank's honesty

By education

High school or lower University or higher

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community High-level executives at the bank point out that money is not their only consideration

The bank first considers my interests as a customer

Don’t agree at all Completely agree

o Survey findings show that respondents with high school or lower level of education tend to agree more with the statements about the bank’s honesty, compared to those with university or higher level of education.

o The largest difference is regarding the statement “If the bank turns out to have done something wrong, it corrects it as soon as possible” (4.1 out of 5 for respondents with high school or lower, versus 3.8 out of 5 for those with university or higher).

To what extent do you agree or disagree with these statements about your bank?

Bank's honesty

By experience with main bank

With the bank I can be sure I will get the service I pay for

The bank helps me, tries to fulfill its agreements and, if there are problems, comes up with a good solution

what

If the bank turns out to have done something wrong, it corrects it as soon as possible

If the bank makes a mistake, it accepts it honestly and is able to correct it

Less than 1 year 1-2 years 2-3 years More than 3 years

Don’t agree at all

Completely agree

1 2 3 4 5

The Bank contributes by investing in projects and sponsorships for the benefit of the whole community

High-level executives at the bank point out that money is not their only consideration

The bank first considers my interests as a customer

To

extent do you agree or disagree with these statements about your bank?

Contact with the bank

By urbanity

Through which of the following ways (touching points) did you contact the bank this last 6 months?

o Data show that

living in urban areas tend to contact the bank by going to the branch and through mobile banking app more than respondents who live in rural areas.

Contact with the bank By age

o Older people (over 44 years old) have contacted the bank during the last 6 months more by going to the branch, than other age groups.

o Age group 25-44 years old has used more mobile banking during the last 6 months than the other age groups (younger than 24 years and older that 44 years old).

Contact with the bank

By education

High school or lower (N=235)

University or higher (N=745)

Through which of the following ways (touching points) did you contact the bank this last 6 months?

Total

Going to the branch

Mobile Banking app (smartphone, tablet)

By call / SMS

On the homepage of the bank (online)

Contacting the Call center service Online banking (laptop, desktop PC) By email

Through a Bank Advisor / staff

Notifications/advertisements

Via personalized mail from my bank None of these

68% 23% 11% 7% 5% 3% 5% 6% 6% 0% 15%

76% 54% 19% 16% 13% 14% 9% 8% 3% 1% 5%

74% 46% 17% 13% 11% 11% 8% 8% 4% 1% 8%

o Respondents with university or higher level of education contacted the bank more than those with lower level of education in each ways of contact.

o It is to be noted that 15% of the respondents with high school or lower level of education did not contact the bank in the last 6 months, compared to 5% of those with university or higher.

Contact with the bank

By experience with main bank

Through which of the following ways (touching points) did you contact the bank this last 6 months?

o Survey findings show that during the last 6 months, respondents with more experience with their main bank, have contacted more the bank through the most ways listed in the questionnaire.

o Data show that men tend to contact more often the bank by going to the branch, through mobile banking and also through the online banking.

Frequency of contact

By education

High school or lower (N=174) University or higher (N=566)

High school or lower (N=58) University or higher (N=403)

High school or lower (N=7) University or higher (N=101)

o Results disaggregated by the level of education show that respondents with university degree or higher tend to contact more frequently their bank by going to the branch (24% at least several times a month with high school or lower, compared to 29% of the respondents with university or higher) and through mobile banking (81% at least several times a month of respondents with high school or lower, compared to 85% of the respondents with university or higher).

Frequency of contact

By experience with main bank

Going to the branch Through mobile Banking app Through online banking

Less than 1 year (N=81)

1-2 years (N=111)

2-3 years (N=106)

More than 3 years (N=442)

Less than 1 year (N=44)

1-2 years (N=62)

2-3 years (N=51)

More than 3 years (N=304)

Less than 1 year (N=10)

1-2 years (N=12)

2-3 years (N=8)

More than 3 years (N=108)

o Survey findings show that respondents with more experience with their main bank contact the bank more often through mobile banking, than those with less experience.

Usage of digital banking products

By gender

To what extent do you agree or disagree with these statements:

Female Male

1 2 3 4 5

I can easily carry out my daily banking operations through the mobile application (mobile banking)

I can usually use online banking without service interruption

I can usually use the mobile application (via mobile phone) without service interruption

I can easily carry out my daily banking operations through online platforms

I feel safe with online banking

I can easily find the required information on the banks website

o There is no significant difference between men and women in the agreement level for the statements listed about digital banking products.

Usage of digital banking products

By urbanity

To what extent do you agree or disagree with these statements:

Urban Rural

1 2 3 4 5

I can easily carry out my daily banking operations through the mobile application (mobile banking)

I can usually use online banking without service interruption

I can usually use the mobile application (via mobile phone) without service interruption

I feel safe with online banking

I can easily carry out my daily banking operations through online platforms

I can easily find the required information on the banks website

o No significant difference among urban and rural digital banking users, except that respondents living in urban areas feel more safe with online banking, compared to those who live in rural areas.

Usage of digital banking products

By age

To what extent do you agree or disagree with these statements:

18-24 years 25-34 years 35-44 years + 44 years

1 2 3 4 5

I can easily carry out my daily banking operations through the mobile application (mobile banking)

I can usually use online banking without service interruption

I can usually use the mobile application (via mobile phone) without service interruption

I can easily carry out my daily banking operations through online platforms

I feel safe with online banking

I can easily find the required information on the banks website

Usage of digital banking products

By education

To what extent do you agree or disagree with these statements:

High school or lower University or higher

1 2 3 4 5

I can easily carry out my daily banking operations through the mobile application (mobile banking)

I can usually use online banking without service interruption

I can usually use the mobile application (via mobile phone) without service interruption

I can easily carry out my daily banking operations through online platforms

I feel safe with online banking

I can easily find the required information on the banks website

Usage of digital banking products

By urbanity and age

Urban (N=295)

Rural (N=166)

18-24 years (N=83)

25-34 years (N=170)

35-44 years (N=155)

More than 44 years (N=53)

Urban (N=85)

Rural (N=23)

18-24 years (N=13)

25-34 years (N=47) 35-44 years (N=36)

More than 44 years (N=12)

Usage of digital banking products

By gender

How satisfied are you in general with using the online/mobile banking service at your main bank?

o Results show that women are more satisfied than men with usage of mobile/online banking.

o Digital banking users with more experience with their main bank are more pleased then others when using online/mobile banking.

Online banking

Less than 1 year (N=10) 1-2 years (N=12) 2-3 years (N=8)

More than 3 years (N=78)

Less than 1 year (N=44) 1-2 years (N=62) 2-3 years (N=51)

Mobile banking Very satisfied Satisfied Neither satisfied nor disappointed Disappointed Very disappointed

(N=166)

(N=83)

years (N=170) 35-44 years (N=155) More than 44 years (N=53)

(N=85)

(N=23) 18-24 years (N=13) 25-34 years (N=47) 35-44 years (N=36) More than 44 years (N=12)

Usage of digital banking products

By

o

(47% men, versus 38% women)

(22% men, versus 12%

Preferred ways to complain

By gender and urbanity

By physically going to the bank

Through the call center

Through the application

Calling my banker

No way, I would not complain

Through comments or messages on the banks profiles on social networks

Other

In case you have a complaint of any kind about your bank, which method would you prefer to use?

Urban (N=578) Rural (N=422)

59% 18% 11% 7% 1% 1% 2%

67% 14% 10% 5% 2% 1% 1%

By physically going to the bank

Through the call center

Through the application

Calling my banker

No way, I would not complain

Male (N=454) Female (N=546) 62% 17% 11% 6% 1% 1% 2%

Through comments or messages on the banks profiles on social networks Other

66% 14% 10% 6% 3% 0% 1%

o Survey findings show that more women than men (67% versus 59%) and more people living in rural areas than those living in urban areas (66% versus 62%) would prefer to go physically to the bank if they have a complaint for their bank.

Preferred ways to complain

By age

By physically going to the bank

Through the call center

Through the application

Calling my banker No way, I would not complain Through comments or messages on the banks profiles on social networks Other

In case you have a complaint of any kind about your bank, which method would you prefer to use?

18-24 years (N=188) 25-34 years (N=342) 35-44 years (N=302) More than 44 years (N=168)

o Data show that older people (more than 44 years old) prefer more than other age groups to go physically to the bank if they have a complaint to their bank.

o On the other hand, younger people (18-24 years old) prefer more than other age groups to complain through the application if they have a complaint towards their bank.

Preferred ways to complain

By experience with main bank

NPS by gender and age

o When analyzing the data by gender, woman are more likely to recommend their main bank, compared to men (NPS for women 32, versus 22 for men).

o Regarding age, the older age group (older then 44 years old) have a NPS greater than other age groups, respectively 39, compared to 23 for the age group 35-44 y.o, 25 for 25-34 y.o., and 28 for the age group 18-24 y.o.

NPS by urbanity and education

o When analyzing the data by urbanity, respondents who live in rural areas are more prone to recommend their main bank (NPS equal to 35 in rural areas compared to 22 in urban areas).

o Regarding education, respondents with high school or lower are more prone to recommend their main bank than those with university or higher level of education, respectively an NPS equal to 37 versus 24.

Area of living/area of residence and gender

Area of residence

18-24 years 25-34 years 35-44 years More than 44 years

Age

Incomes

19% 34% 30% 17%

We do not have enough money to live We have just enough money to live,however other small expenses are not always easy

We have enough money to live, however big expenses (home equipment,TV, fridge,furniture…

We can afford to buy some longterm equipment (fridge,TV,furniture etc)…

We can buy a car, but not an appartment immediately

We have enough money to be able to buy everything we need

10% 22% 37% 21% 8% 3%