OREANDA-NEWS. February 10, 2010. This is the first national annual study in Azerbaijan.

Group of companies SIAR Research and Consulting (SIAR) reports that the major goal of the study is to support the development of customer oriented and driven services throughout Europe and Eurasian countries.

In 2009 the study is based on interviews with more than 1000 interviews of individual customers representing all urban population of Azerbaijan.

EPSI in Russia and CIS countries does all analysis using the same approach and model as in other countries that are part of the EPSI Rating initiative.

Thus, the results can be compared with those available on an annual basis from many other European countries and Russia.

“Following the survey it clarified that average satisfaction index of final consumers (B2C) in Azerbaijan is 83% and their loyalty to countries’ banks even 83.2%,” it was reported.

The satisfaction index is reported on the scale 0 – 100. The higher score corresponds to more satisfied customers. Averages usually fall in the region of 60 – 75 points. Any company receiving a score above 75 has a strong position among its customers, while those below 60 face risks of losing the customer base.

“Under conditions of non-stability at the market final consumers trust their banks. Satisfaction indexes are very high. At the same time we saw that consumers appraised equally work of their banks. This can bring to strengthening of competition at the Azerbaijani market next year,” Alexander Kosobokov, CEO of EPSI in Russia and CIS countries commented.

At the same time all Azerbaijani customers have high Expectations and all banks showed relatively bad results by “Perceived Quality of Product” aspect. Vice versa “Perceived Quality of Service” has been estimated very high, except Kapital Bank which has the aspect score behind the market average.

“All studied banks in Azerbaijan demonstrated high customer loyalty. Final consumers trust their banks. This can positively impact financial performance of Azerbaijani banks and revenue increase as Loyalty defines a wish to recommend, buy more and remain with the bank in spite of competitor proposals. As a matter of the fact, it shows the stability of Azerbaijan banking sector by the opinion of final consumers. At the same time there are no switching barriers in the market and this is resulted in 1/3 of population use services of different banks simultaneously,” it was informed.

In December 2009, SIAR signed an agreement with EPSI Group (www.epsi-rating.com; EPSI), and since January 2010 SIAR became exclusive partner of EPSI on territory of Azerbaijan.

Within the frameowkr of this partnership SIAR jointly with EPSI provides for Sazerbaijani companies an opportunity of subscription for products as follows:

EPSI Customer Satisfaction Index; EPSI Employee Satisfaction and Loyalty Index; EPSI Living Condition Index; EPSI Social Infrastructure Research.

For more information about products apply on phone numbers: (99412) 4472934, 4482934; e-mail: Ashraf.Hajiyev@siar.az or visit Company’s website:  http://www.siar.az.