Social Insights Into African Commercial Banks

Social Insights/ African Commercial Banks © WhySatisfy.com | 1
© WhySatisfy.com
Social Insights /
African
Commercial Banks
Written by Jenna Bloch

Social Insights / African Commercial Banks © WhySatisfy.com | 2
Contents
1.0 Aim and Methodology��3
2.0 African Banks Social Index ��4
3.0 The Social Landscape��6
3.1 Online Conversation Analyses and Share of Voice�� 6
3.2 Social Media Share of Voice�� 8
4.0 Banking Conversation Breakdown��10
4.1 General Web Conversation��10
4.2 Facebook Mentions��11
4.3 Twitter Mentions��12
4.4 Categories Over Time��13
5.0 Sentiment ��14
5.1 Commercial Banks in Kenya��14
5.2 Commercial Banks in Nigeria��15
5.3 Commercial Banks in South Africa��16
6.0 Insights and Audience Analysis��18
6.1 Gender Profiles��19
6.2 Interest Professional Profiles��20
6.3 Professional Profiles��21
7.0 Findings��23

1.0 Aim Methodology
This report looks at the top 5 commercial banks in Kenya, Nigeria and South Africa based on the size of
their Facebook fanbase during 1 April 2017 until 30 June 2017 (Q2).The banks were reviewed as a collective,
determining how frequently customers speak about banking online, who makes up the audience, the share of
voice and conversation sentiment. Further to this we delve into various banking categories analysing which
topics are the most popular compared to others for consumers.
Using Brandwatch we reviewed how each individual company performs on social media and where they are
placed among their peers in terms of sentiment and share of voice.
The analysis of online conversations is divided into 5 parts:
• African Commercial Banks Social Index: Provides a comprehensive ranking for the top 5 commercial
banks in Kenya, Nigeria and South Africa and how they compare across social activity, followership and
content performance.
• The Social Landscape: Looks at the conversations taking place, the brands speaking and how the audience
was reacting.
• Bank Conversation Breakdown: Here we delve into the different topics of conversations that were being
discussed around banking.
• Sentiment: Highlights the brands who had the most share of voice in terms of sentiment.
• Overall Insights and Audience Analysis: Details the overall conversations that took place within the
industry and breaks down the audience demographics.

2.0. African Banks Social Index
The African Banks Social Index presents important metrics in a brand’s online presence and displays each
brand’s social media performance across five different factors.
The index has evaluated the 15 banks across these five factors:
• Audience Social Activity: This metric examines the total audience engagement a brand earns on social
media. Specifically, it measures, @mentions, replies, retweets, likes, comments and shares.
• Brand Social Activity: Brand social activity looks at how active a brand is on social media, measuring how
often they tweet, reply, retweet, post, or comment.
• Followership: This score measures how big a brand’s social media following is in terms of Facebook page
likes and Twitter followers.
• Content Performance: Content performance examines how much engagement a brand draws from their
content. More specifically, it looks at how many likes, comments, shares, replies and retweets their social
media posts receive.
• Total Score: The final score is the sum of the four scores above.There is no special weighting given to any
score.
The Composite Score reflects a brand’s performance across each category, for each category brands are
normalised against a single leader, which receives a score of 100, as such the maximum potential score is 400.

BRAND AUDIENCE
SOCIAL
ACTIVITY
BRAND
SOCIAL
ACTIVITY
FOLLOWERSHIP CONTENT
PERFORMANCE
OVERALL
SCORE
Chase Bank Kenya 32 26 18 53 130
Equity Bank Kenya 42 99 34 47 222
I+M Bank 13 13 19 27 73
KCB Group 56 97 42 42 237
Stanbic Bank Kenya 19 31 17 14 82
Access Bank Nigeria 54 40 56 54 204
First Bank Nigeria 35 32 46 29 143
GT Bank 100 63 100 69 332
UBA 43 40 50 72 204
Zenith Bank 84 94 69 50 297
ABSA 60 78 24 100 263
Capitec 72 89 24 99 285
FNB 42 47 39 41 169
Nedbank 65 67 24 68 224
Standard Bank 96 100 25 30 252
2.0 Social Index of the commercial banks analysed
Based on the social index, Nigerian and South African banks were the best overall performers. GT Bank
ranked the best for audience social activity and followership.The South African banks Standard Bank and
ABSA were respectively top ranked for brand social activity and content. Equity Bank and KCB Group in Kenya
were both mere points behind Standard Bank for brand social activity. Capitec was only a single point behind
ABSA for content performance.This shows that the competition in the social space for commercial bank is
fierce and the movers and shakers defining the landscape can change at any time.

3.0 The Social Landscape
Word of mouth has become one of the biggest contributors to a person’s purchase decision, with social media
all those “word of mouth” opinions are now at your fingertips and they are not restricted to your social circle,
it spreads far wider to almost anyone who has had an interaction with the brand you are investigating. It
is for this reason that brands need to be at the forefront of social media and even more so social customer
care. Ensuring that customers are happy and if they are not happy to rectify a problem quickly and efficiently
shows potential customers that the brand is there to help and add value.
3.1 Online conversation analyses in each country
From the graphs below we notice that there is at least one bank in each country who dominated the online
conversations during Q2 2017.
In Kenya 50% of the online conversations (web queries) are about KCB Group, the most popular topic had to
do with mentions of NBK around the subject of NBK being absorbed by KCB.
Looking at the online conversation (web queries) in Nigeria there are 2 banks dominating conversations;
Zenith Bank and UBA each with 36% and 34% of the conversation respectively. One of the most popular
topics associated with Zenith Bank was around a gun battle and robbery at one of their branches. Some of
the most popular UBA discussions centred around the UBA Ikeja branch where an employee found $10 000
belonging to a customer and returned it.
Over 53% of the conversations happening online in South Africa were related to Standard Bank. Most of
these were related to their #WhatsYourNext campaign that they tied in with a competition for Youth Day
when someone could win R10 000 towards their next big life event or a charity donation.

50
4 11
27
8
%
%
%
%
%
36%
%34
15%
%
%4
11
53
19
9
13
6
%
%
%
%
%
Figure 3.1 Online conversations broken down by country
KENYA: 21119 TOTAL
SOUTH AFRICA: 139473 TOTAL
NIGERIA: 63336 TOTAL
• ABSA • ACCESS BANK NIGERIA • CAPITEC • CHASE BANK KENYA • EQUITY BANK KENYA
• FIRST BANK NIGERIA • FNB • GT BANK • IM BANK • KCB GROUP • NEDBANK
• STANBIC BANK KENYA • STANDARD BANK • UBA • ZENITH BANK

3.2 Social Media Conversations
In the graphs below we look at the conversations taking place about all the commercial banks on Social
Media platforms such as Facebook and Twitter. Each platform allows for different types of conversations.
Fig. 3.2.1 Twitter conversations during Q2 2017 Fig.3.2.2 Facebook conversations during Q2 2017
AFRICAN BANKS INDEX TW: 478210 TOTAL
2%
%7 6%
%10
7%
6%
%18
%12
6%
13%
%8
1
31%
%
%
AFRICAN BANKS INDEX FB: 65061 TOTAL
7% %
%
%
%
%
%%
%
%
4
7
5
4
15
64
31
122%
1
2
1
%
%
%
• ABSA • ACCESS BANK NIGERIA • CAPITEC • CHASE BANK KENYA • EQUITY BANK KENYA
• FIRST BANK NIGERIA • FNB • GT BANK • IM BANK • KCB GROUP • NEDBANK
• STANBIC BANK KENYA • STANDARD BANK • UBA • ZENITH BANK
Overall Standard Bank dominated the Twitter conversations among all banks and had a full quarter of all
conversations attributed to them, they were followed by GT Bank who had 21% if you combine their help and
marketing Twitter handles.
Conversations on Facebook were more evenly divided; GT Bank received 17% of all overall mentions followed
by Standard Bank with 13%.All banks share their marketing campaigns across platforms and what was
promoted on Facebook was often shared on Twitter too, where it received more traction in terms of shares
and retweets.

AN AVERAGE DAY ON TWITTER
POSTS 1
COMMENTS 14
LIKES 869
SHARES 18
COMMENTS 31
LIKES 609
COMMERCIAL BANKS COMMERCIAL BANKS AUDIENCE
AN AVERAGE DAY ON FACEBOOK
Figure 3.2.3 An average day on Facebook and Twitter for African commercial banks.
The tables above depict a typical day on Facebook and Twitter for the commercial banks. On average, each
bank made at least one post per day which was shared an average of 18 times.The audience doubled the
amount of comments the banks made.There were over 600 likes on average per day, this shows that the
easiest way for a client to interact with a bank is to simply like one of their posts.The audience for this
industry is very active on Twitter and collectively there was an average of almost 100 mentions by the
audience to the banks each day, with an average of 36 retweets for each bank daily.The banks replied to less
than half of the daily tweets they received, however one needs to account for the banks with separate help
channels where there would not have been a direct recorded reply.
TWEETS 9.9
REPLIES 42.4
FOLLOWERS 1073764
@MENTIONS 95.7
REPLIES 44.9
RETWEETS 35.9
CONSUMER TECH BRANDS CONSUMER TECH AUDIENCES

4.0 Banking Conversation Breakdown
The conversations that the audience was speaking about were divided into 6 categories:
• FRAUD • SERVICE • MOBILE • CREDIT • LOANS • INTERNET BANKING
This was further analysed for each social platform and for general website conversations.
4.1 General Web Conversation
Mobile banking is a very popular topic at present within the banking industry. In fact, all banks except for
one had a sizeable percentage of their web conversation attributed to mobile banking. With 70% of their
analysed conversations about mobile banking, UBA seems to be the leader in this category.
Service is another hot topic when it comes to commercial banking and 14 out of the 15 banks had service
related conversations attributed to them, all with different sentiments.
99% of Chase Banks online conversations were associated with fraud.These however were not directed at
the bank itself, but rather at Zaffrullah Khan who is an ex-chairman of the bank and was accused of fraud.
MENTIONS ON THE WEB
ABSA
Access Bank
Capitec
Chase Bank
Equity Bank
First Bank
FNB SA
GT Bank
I M Bank
KCB Group
Nedbank
Stanbic Bank
Standard Bank
UBA
Zenith Bank
Figure 4.1 Analysing general web conversations about commercial banking during Q2 2017
0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100
0 20 40 60 80 100

4.2 Facebook Mentions
GENERAL SENTIMENT
Figure 4.2 Analysing Facebook conversations about commercial banking during Q2 2017
Mobile banking and service were both popular topics among Facebook discussions as well as loans which
dominated conversations among 2 Kenyan banks; Equity Bank Kenya and KCB Bank.
The majority of the Standard Bank’s conversations on Facebook centered around service. Almost 80% of
these discussions were neutral while 12% were negative and 8% were positive.
FACEBOOK MENTIONS
ABSA
Access Bank
Capitec
Chase Bank
Equity Bank
First Bank
FNB SA
GT Bank
I M Bank
KCB Group
Nedbank
Stanbic Bank
Standard Bank
UBA
Zenith Bank
0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100
0 20 40 60 80 100
— 8% POSITIVE 79% NEUTRAL 12% NEGITIVE

4.3 Twitter Mentions
Twitter attracts a very mobile savvy user base and it is not surprising to note that the majority of all
conversations on Twitter were related to mobile and internet banking. Zenith Bank was the only commercial
bank on Twitter that did not receive any conversations about internet banking, however 75% of their
conversations were about mobile banking.
Although they received no conversations about fraud on Facebook, 53% of Chase Bank’s conversations on
Twitter were associated to the fraud scandal as mentioned in web conversations.
Figure 4.3 Analysing Twitter conversations about commercial banking during Q2 2017
TWITTER MENTIONS
ABSA
Access Bank
Capitec
Chase Bank
Equity Bank
First Bank
FNB SA
GT Bank
I M Bank
KCB Group
Nedbank
Stanbic Bank
Standard Bank
UBA
Zenith Bank
0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100
0 20 40 60 80 100

4.4 Categories Over Time
The graph below shows the conversation topics measured and how they were discussed during the analysed
period 1 April 2017– 30 June 2017.
CATEGORIES OVER TIME
At the beginning of the period conversations for all categories were relatively flat,from May onwards there
was steady growth,especially in mobile banking.Looking at mid-June there were sharp increases in discussions
about service and mobile banking.The UBA mobile app was released in June and corresponds with the sharp
increase in conversations about mobile banking.
0
100
200
300
400
500
600
April 1st April 15th April 30th May 15th May 30th June 14th June 30th

%
%
%
%
%
12
16
21
50
1
%
%
%
%
%
6
16
2
26
50
%
%
%
%
%
1
7
16
25
50
5.0 Share of Voice / Sentiment
Share of voice looks at the weight or percentage each bank had over the others in terms of dominating the
online conversation. Sentiment describes the emotional undertone of each individual conversation and is
used to gain an understanding of the attitudes, opinions and emotions expressed within an online mention.
We looked at the Share of Voice versus Sentiment for the commercial banks broken down by country.This
ensures that we are evaluating the banks alongside their direct peers.
The graphs below show the overall sentiment for conversations about banking in each country between 1
April and 30 June 2017.
5.1 Kenyan Commercial Banks
KENYAN BANK SENTIMENT
Fig. 5.1.1 Negative Sentiments
Fig. 5.1.3 Positive Sentiments
5.1 Sentiment for Kenyan commercial banks Q2 2017
Fig. 5.1.2 Neutral Sentiments
• CHASE BANK • KCB BANK • EQUITY BANK • IM BANK • STANBIC BANK

5.2 Nigerian Commercial Banks
NIGERIAN BANK SENTIMENT
In Kenya both KCB Group and Equity Bank dominated the overall conversations and therefore make up most
of the sentiment too. Equity Bank had a slightly greater positive sentiment at 44% versus 39% and a lesser
negative sentiment at 30% versus 41%. The positive conversations for both banks were centred around
customer service.Almost half of all neutral conversations were aligned with the KCB Group.
%
%
%
%
%
14
11
37
19
19 %
%
%
%
%
16
7
37
13
27
%
%
%
%
%
16
3
43
13
25
• ACCESS BANK • FIRST BANK NIGERIA • GT BANK • UBA BANK • ZENITH BANK
5.2 Sentiment for Nigerian commercial banks Q2 2017

5.3 Sentiment for South African commercial banks Q2 2017
5.3 South African Commercial Banks
SOUTH AFRICAN BANK SENTIMENT
Overall, we see that GT Bank received the most mentions during the period. Of all the mentions they
received 43% were positive and related to customer service as were the majority of their negative
conversations. GT Banks also had the highest percentage of negative sentiment (37%), which was almost
double the amount of negative sentiment experienced by UBA and Zenith Bank.
%
%
%
%
%
20
7
23
14
36
%
%
%
%
%
13
9
14
9
55
%
%
%
%
%
9
37
11
8
35
• ABSA • CAPITEC • FNB • NEDBANK • STANDARD BANK

Both Capitec and Standard Bank had the lion’s share of positive conversations at 37% and 35% respectively.
Standard Bank customers were discussing the various R10 000 prizes they gave away to better various
people’s lives, make dreams come true or to help particular charities.The discussions for Capitec we from
customers who are proud to be their clients and wanted to be added to the #BankBetterLiveBetter mosaic.
More than 50% of all neutral conversations were allocated to Standard Bank, however they also received the
largest portion of negative conversations (36%), this was followed by FNB at 23%.
Capitec had the least amount of negative conversations with a small allotment of only 7%.

6.0 Insights and Audience Analysis
During the period analysed there were 770 000 online mentions about the commercial banks analysed.
These mentions were contributed by over 305 000 unique authors. Close to 100 000 of all comments were
positive (13%) while 27 500 were negative (4%). Most comments came from Twitter and Facebook and a
much smaller percentage from blogs, forums and news sites.
SENTIMENT
6.0 Overall sentiment for commercial banks in Africa Q2 2017
— 4% NEGATIVE 83% NEUTRAL 13% POSITIVE
OVERALL CONVERSATIONS BY PAGE TYPE
• TWITTER • FACEBOOK • NEWS • FORUM • GENERAL • BLOG • INSTAGRAM • VIDEO • IMAGE • REVIEW
6.0.1 Overall commercial banking conversations during Q2 2017
0
100000
200000
300000
400000
500000
600000
700000
800000
70K
65K
60K
55K
50K
45K
40K
35K
30K
25K
20K
15K
10K
5K
0

GENDER SPLIT
This can be broken down further for each bank that was analysed. GT Bank in Kenya is the only bank with a
majority female audience at 61% all the other banks have a predominantly male audience. Chase Bank (also
in Kenya) has the smallest female audience at only 20%, which makes them the most male dominant bank
at 80%, this is followed by Equity Bank with a male audience of 78.1%.
6.1 The commercial banks’audience gender split for Q2 2017
6.1 Gender Profiles
45% FEMALE 55% MALE
AFRICAN COMMERCIAL BANKS GENDER BREAKDOWN
0 20% 40% 60% 80% 100%
ABSA
Access Bank Nigeria
Capitec
Chase Bank Kenya
Equity Bank Kenya
First Bank Nigeria
FNB SA
GT Bank
I M Bank
KCB Group
Nedbank
Stanbic Bank Kenya
Standard Bank
UBA
Zenith Bank
6.1.1 Audience gender split by bank for Q2 2017
0 20 40 60 80 100
• FEMALE • MALE

6.2 Interests
COMMERCIAL BANKING AUDIENCE – BUSINESS INTERESTS
6.2.Audience interest’s breakdown for Q2 2017
As financial wellbeing is a core necessity for both business and families, it is not surprising that these are the
core interests among the audience. Both business people and parents need to keep track of their money and
investments. Many banks sponsor sporting events and this is how sports becomes a key interest group for
the commercial banking audience.
Shopping
Automotive
Games
Environmental
Animals Pets
Travel
TV
Movies
Fashion
Photo Video
Science
Fine Arts
Beauty Health
Food Drink
Polotics
Technology
Books
Music
Family Parenting
Sports
Business
0 3 6 9 12 150 5 10 15 20
Business and sports, followed by family and parenting make up the core interest groups for the audience of
the banks analysed.

ABSA
Access Bank Nigeria
Capitec
Chase Bank Kenya
Equity Bank Kenya
First Bank Nigeria
FNB SA
GT Bank
I M Bank
KCB Group
Nedbank
Stanbic Bank Kenya
Standard Bank
UBA
Zenith Bank
PROFESSIONS BREAKDOWN BY BANK
6.3 Audience professional breakdown by banks for Q2 2017
0,0 0,2 0,4 0,6 0,8 1,0
6.3 Professional Profiles
There are many professions that make up the total audience within the commercial banking sector, however
the key professions are executives, artists and students. For all banks, the executive versus artist breakdown
was fairly consistent as it was for students, however Standard and Capitec has the largest percentage of
students in their audiences at 23% and 17% respectively.
• ARTIST • EXECUTIVE • HEALTH PRACTITIONER • JOURNALIST • LEGAL
• POLITICIAN • SALES / MARKETING / PR • SCIENTIST / RESEARCHER • SOFTWARE DEVELOPER / IT
• SPORTSPERSON / TRAINERS • STUDENT • TEACHER LECTURER
Almost a quarter of the overall audiences consists of professional executives (24%) followed closely by
artists (21%).This indicates that all members of society are reliant on banks and the services that they offer.
Commercial banks can not only aim their marketing activities at a single profession or service type, but need
to cater for all professional types among all interest groups
0 20 40 60 80 100

PROFESSIONS BREAKDOWN FOR INDUSTRY
6.3.1 Commercial Banks audience broken down by profession for Q2 2017
0 5 10 15 20 25
Executive
Artist
Student
Sales / Marketing
Journalist
Scientist / Researcher
Software / It
Legal
Teacher / Lecturer
Health Practitioner
Sportsperson Trainer
Polotician
0 5% 10% 15% 20% 25%

7.0 Findings
Gone are the days where people have inherent trust in their bank and deem it to be the safest place for their
money. In the last decade, after the global financial crisis and with the introduction of cryptocurrencies such
as Bitcoin, the banking industry has come under a lot of scrutiny and pressure. Nowadays banks need to earn
their customer’s trust and assure them that they have their customer’s best interests at heart and endeavour
to maintain loyalty. It is important for a banking customer to feel at ease with the service they are receiving
from a bank, with the knowledge that they are looking after their funds and facilitating their transactions
optimally.
Service and mobile banking are the most popular topics when people discuss banking.This shows that good
service is important for customer retention and people are quick to moan about poor service but will also
speak out and acknowledge a great customer interaction. Ease of access to their money and being able to
make transactions is another high priority area for customers.
As seen in the social index the competition among banks at the top is fierce and it takes just one key element
or action to change how a brand is perceived by the customer or how they will choose to engage with their
bank.
Key Takeaways:
• The report shows that in each country analysed; Kenya, Nigeria and South Africa, there is always a bank
that stands out among the competition. Nigeria is the most competitive market for gaining share of voice
and there are 2 banks, Zenith Bank and UBA, that stand out.
• The commercial banking audience has a gender split that is slightly skewed towards males (55%).Their
interests include business, sports as well as family and parenting.This can be because business and
families both need financial support and speaks to the investment that many banks make in terms of
sponsorship for major sporting events. Sporting sponsorship is a key way to align with their customers'
interests.
• All the banks analysed use social media on a daily basis to interact with their customers in order to solve
customer support queries and to promote various marketing activities.The audience is very open to this
channel of communication and respond well on Facebook and very actively on Twitter.
• Mobile banking, followed by internet banking, are popular topics of conversation among those discussing
commercial banks.This indicates that customers want to be able access and transact with their money
at their convenience. From the middle of June there was a noted increase in conversations about mobile
banking.
• Overall the sentiment within the banking industry was neutral, with a greater positive (13%) than
negative (4%) tone.

Social Insights Into African Commercial Banks

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