Capitec leads sentiment index of SA banks for third consecutive year

July 18, 2014. Capitec Bank in Braamfontein, Johannesburg.
July 18, 2014. Capitec Bank in Braamfontein, Johannesburg.

Capitec has the highest net sentiment among social media users while Absa had the lowest net sentiment score among the big five banks.

This is according to the South African Banking Sentiment Index‚ compiled by BrandsEye.

BrandsEye’s sentiment analysis of the banks is based on 1.8 million social media posts from September 2016 to August this year.

“The unsolicited nature of social media makes platforms like Facebook and Twitter ideal sources to gauge public opinions.

“Unlike traditional polling surveys‚ people take to social media to post their views without prompting or guidance on what to say or how to say it‚” BrandsEye CEO JP Kloppers said.

BrandsEye found that for the third consecutive year‚ Capitec had the highest net sentiment.

“Capitec is also the only bank to maintain a positive net sentiment‚” BrandEye said.

It said for the industry as a whole‚ no single topic was discussed in a consistently positive manner.

“Innovation was one of the most positively discussed topics‚ but this was mostly influenced by FNB and Capitec’s consumer conversation.”

BrandsEye said low bank charges from Capitec was one of the bank’s strongest advantages over its competitors and the most positive topic discussed.

“Simplicity of use was another function customers value from this bank.”

Absa fared the worst in the net sentiment rating.

BrandsEye said 32.2% of Absa’s negative sentiment was related to the release of the Public Protector’s report on the Bankorp bailout.

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