Local banks top conversation on GCC banking online, new KPMG GCC Banking sentiment index shows

Saudi banks dominated the online conversation about the GCC banking sector, with local consumers the most active and vocal, accounting for 83.3% of total conversation on social media, according to the KPMG GCC Banking sentiment index (pdf). Saudi bank clients dominated the conversation thanks in part to our large population and widespread internet access.

For the W: Solid operations accounted for 30% positive mentions of Saudi banks, followed by Kuwait at 19.1%, Oman (18.1%), UAE (16.5%), Qatar (9.7%), and Bahrain (7.5%). Local lenders ranked fourth in terms of reputational sentiment at 16.3% with positive reputational drivers including financial news, loan products, CSI activities and others. They also received the most positive feedback for their online applications.

For the L: Banks here and the UAE saw the highest volume of customer service-related complaints among their GCC peers. Complaints mainly concentrated on service downtime, transfer delays, and long waiting times. Negative sentiment came in second after the UAE, where 24.2% of online conversation focused on client frustration with issues including the speed of online apps and quality of services received.