CUSTOMERS' SATISFACTION AND RETENTION IN BANKING INDUSTRY IN NIGERIA: A CASE STUDY OF SELECTED COMMERCIAL BANKS
CUSTOMERS' SATISFACTION AND RETENTION IN BANKING INDUSTRY IN NIGERIA: A CASE STUDY OF SELECTED COMMERCIAL BANKS
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Date
2000-04
Authors
AIYEDUN, TOYIN IGBEKELE
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Abstract
There has been series of criticisms in the news media
newspapers journals, publication seminar papers etc, against
the quality of service rendered by commercial banks in
Nigeria.
Commercial Banks have been accused of providing
inadequate services which subsequently lead to customers
dissatisfaction. Such accusation include long ques in the
banking halls, non-challant attitude of bank officials to their
customers, discriminative attitude in favour of wealthy
customers, friends, relations and those customers they are
acquainted to, when providing services and also there is no
adequate facilities in the banking halls.
The banking services in Nigeria are such that they are
offered to customers as if the business itself is not aimed at
making profit.
Bankers have refused to realise customers are assets of
the bank.
This project is made to look into the services rendered
to custoners by the banking industry in Zaria, Kaduna
metropolis, with a view to determine if the customers are
satisfied or not, if bankers are actually meeting customers
expectation and also to examining the level of customers
retention in banking industry.
This project is also aimed at assisting bankers and
customers to know their responsibilities, rights and
obligations as the case may be.
The relationship between bankers and customers in our
banks particularly commercial banks has motivated the
researchers choice of this project topic.
There has been a long time standing complaints of poor
customers' services in bank and there is need for more
knowledge and understanding on banker-customer relationship.
There is a legal relationship between a bankar and a
customer created by law.
This law imposes some duties on both bankers and
customers and any breach of the duties by any of the parties
can attract court action.
The research study carefully examined different
categories of customers in order to clearly distinguish the
rights and obligations of each of them and also the
responsibilities of bankers to their customers. When both
parties knows their duties, rights and obligations to one
another the level of customers satisfaction will increase.
This study is also aimed at examining services which must
go beyond satisfying customers. They must build relationship
that will result in customer retention.
There are various states of satisfaction with a service,
this study will also assist the bankers to know the various
states of customer's satisfaction. These customer's
satisfaction states are angry, dissatisfied, irritated. OK,
pleased and excited.
Commercial banks should know by now that merely
satisfying customers will not be enough to remain competitive
in today's global market.
Also highlighted is the effect of poor customers services
and how it affects the overall profit of the bank, and the
benefits of good customers service.
In the last chapter of this project recommendations are
made which will be useful for good customers/bankers
relationship which will result in bankers efficiency and
customers satisfaction and this will lead to increase in bank
profitability and high patronage.
Description
A PROJECT SUBMITTED TO THE
POSTGRADUATE SCHOOL
AHMADU BELLO UNIVERSITY, ZARIA
IN PARTIAL FULFILLMENT OF THE REQUIREMENTS
FOR THE AWARD OF THE DEGREE OF
MASTER OF BUSINESS ADMINISTRATION (M.B.A.)
DEPARTMENT OF BUSINESS ADMINISTRATION
FACULTY OF ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA.
Keywords
CUSTOMERS,, SATISFACTION,, RETENTION,, BANKING INDUSTRY,, CASE STUDY,, SELECTED,, COMMERCIAL BANKS