Banca March reaffirms it leadership position as best-rated bank by customers on strength and solvency
24 January 2024 Category: Banca March
- According to Stiga CX's Benchmarking of customer satisfaction in the financial sector, particularly among the main Spanish banks, Banca March is once again first place in the sector in terms of solidity and solvency, raising its score to 9.04 out of 10.
- In this edition, the bank also ranked first in confidence and personalisation, with a score of 8.62 and 8.04, respectively, and continued to lead in the branch rating with 8.88 points, more than 1 point higher than the average for the sector in Spain (7.85).
- Banca March ranked second in the valuation of its managers. Also noteworthy was the high rating of customers in all aspects related to digitalisation, such as internet and mobile banking, as well as for ATMs, telephone banking, incident resolution and engagement.
- The excellent results obtained in 2023 by Banca March continue to highlight the satisfaction of customers with the quality of service provided by its professionals, as well as the extensive omnichannel technology made available by the bank to its customers. This resulted in an Overall Satisfaction Rating (OSR) of 8.35 points and a Net Promoter Score (NPS) of 38.4%, both of which are classified as excellent.
Banca March strengthened its leadership as the best rated bank by customers in terms of solidity and solvency, improving its score to 9.04 out of 10, according to the Benchmarking of customer satisfaction in the financial sector prepared by Stiga CX for the 2023 financial year.
In this edition, the bank also ranked first in confidence and personalisation, with a score of 8.62 and 8.04, respectively, and continued to lead in the branch rating with 8.88 points, more than 1.03 point higher than the average for the sector in Spain (7.85). Banca March ranked second in manager rating with a score of 8.95. Also noteworthy was the high rating of customers in all aspects related to digitalisation, such as internet and mobile banking, as well as for ATMs, telephone banking, incident resolution and engagement.
These results of the Stiga XC report keep Banca March in second place among Spanish banks in the Global Customer Satisfaction Index (ISG of 8.35, compared to an industry average of 7.24).
A unique bussines model
These results reflect the soundness of Banca March's prudent and long-term business model, which is very positively valued by its customers, and highlights their satisfaction with the service and attention they receive from the bank's professionals. Banca March's objective is to remain the most solvent bank in the Spanish financial system and to become the leading bank in advisory technology, always with the most highly qualified managers in the sector. The bank has the lowest NPL ratio in the sector in Spain (1.27% at the end of June, compared to an average of 3.5% in the sector) and capital equity ratio (CET 1 of 19.61%), liquidity - LCR (256.19%) and DTL (137.93%) - and NPL coverage ratio (74.92%) among the highest in the sector. Banca March's compelling value proposition has also been recognised by the rating agency Moody’s, which has raised the bank's long-term rating to A2 with a stable outlook, positioning it as one of the best-rated banks in the Spanish financial sector and stronger than Spanish sovereign debt, which is currently rated Baa1.
Banca March has created the best school for private bankers and business advisers in the Spanish banking sector. This success is clearly reflected in a range of surveys, which position Banca March in the top spots in terms of the quality levels perceived by its customers. This has been possible thanks to Banca March's robust investment in training - Banca March's investment per professional is four times higher than the sector average - and its philosophy, which positions people at the core of its strategy and promotes personal and professional development for the entire team.
Thanks to this strategy, Banca March has secured Top Employer certification for the sixth year running. In 2023, Banca March was designated a Great Place to Work for the fourth year running and recognised as the fifth best place to work in Spain, as well as being the only Spanish bank to feature among the best places to work in Europe, according to the prestigious Best Workplaces 2022 rankings for Spain and Europe compiled by the independent consultancy Great Place To Work. These certifications clearly evidence just how seriously Banca March takes people management.