Service Delivery and Customer Satisfaction in the Nigerian Banking Industry (a Study of Guaranty Trust Bank Plc and Skye Bank Plc)

In: Business and Management

Submitted By Hardebayor
Words 13108
Pages 53
SERVICE DELIVERY AND CUSTOMER SATISFACTION IN THE NIGERIAN BANKING INDUSTRY

(A STUDY OF GUARANTY TRUST BANK PLC AND SKYE BANK PLC)

BY

ABDULLAHI, RUKAYAT OPEMIPO

MATRIC NO: 101003311

A PROJECT SUBMITTED TO THE DISTANCE LEARNING INSTITUTE, UNIVERSITY OF LAGOS, AKOKA IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF THE BARCHELOR DEGREE IN BUSINESS ADMINISTRATION (B.Sc.), BUSINESS ADMINISTARTION OF UNIVERSITY OF LAGOS.

DECEMBER, 2015.

CERTIFICATION

This is to certify that this research project titled “Service Delivery and Customer Satisfaction in the Nigerian Banking Industry” was written by ABDULLAHI, RUKAYAT OPEMIPO with the matriculation number 101003311 under my supervision.

-------------------------------------------- ---------------------------
MR OLAREWAJU, A.D Date
Project Supervisor

DEDICATION

This research work is dedicated to the Almighty Allah, the Omniscience- the giver of knowledge.

To my family.

ACKNOWLEDGEMENT

In the course of this research work, I am greatly indebted to a host of people who in a way of their moral and intellectual support, have made the success of this project.
I cannot but express my gratitude to God Almighty, the giver of wisdom, who has granted me the opportunity, wisdom and knowledge to complete this programme despite many huddles and challenges of life.
My special thanks go to my project supervisor- Mr. Olarewaju, A.D for his invaluable assistance, guidance, encouragement and most of all, his constructive criticism on this research work. Though, just as nothing of value is cheap to obtain, but the passage of furnace has made the refined gold.
I am greatly indebted to my Parents- Mr. and Mrs. Tiamiyu and to my wonderful siblings: Monsuru, Ismael,…...

Similar Documents

Banking Service and Customer Satisfaction

...BANKING SERVICES AND CUSTOMER'S SATISFACTION IN QATAR: A STATISTICAL ANALYSIS* Khalid Al-Sulaiti Abdullah Al-Khulaifi Fawzi AI-Khatib College of Business and Economics Qatar University ABSTRACT The main objectives of this study are to evaluate bank customer expectations of service quality and to assess whether bank services provided by these institutions are satisfactory to Qatari customers. The study also examines empirically the determinants of the buying behavior of bank customers in Qatar. A questionnaire for such purpose was designed and different statistical methods were applied. The policy implications to be derived from such statistical findings is that bank's management should focus on strength areas to confirm them and weakness areas to overcome them. * This paper was accepted for publication in 2000. The delay in its publication until this issue was outside the editor’s control. - 130 - SECTION 1 1-1 Introduction In recent years, the banking industry has undergone massive changes in scope and nature of its environment. Technological advances, increased competition, massive increases in income levels, and the expansion in economic activities, as well as the growing diversity of customer needs, have contributed to the increase in the scope of banks services, and to the elevation of the marketing department to the top levels of the organizational structure of the banking firm. In this competitive and ever changing environment, banks can ensure their...

Words: 5778 - Pages: 24

Standard Chartered Bank Customer Satisfaction

...business finance market in the form of bank loans and overdrafts; leasing and hire-purchase arrangements; equity/corporate bond issues; venture capital or private equity; and asset-based finance such as factoring and invoice discounting. Small & Medium Enterprises, commonly known as SMEs, are relating to three types of sectors,( Service, Business & Industry ) typically labor intensive industries with relatively low capital intensity. For a country like Bangladesh where labor is abundant and capital scarce, SME plays a significant role in employment generation, poverty reduction and overall economic growth of our country. SMEs may not always have the same access to banks and financial institutions as larger firms. Banks are reluctant to expand their SME credit portfolio because lending to SMEs was not considered to be attractive and profitable undertaking. SMEs are regarded as high risk borrowers because of their low capitalization, insufficient assets and inability to comply with collateral requirements of the banks. Administrative costs are also higher because of close monitoring and supervision and credit management of the SME portfolio. Despite all these facts, banks and financial institutions, particularly those in the private sector, have been providing finance to the SMEs and the overall SME portfolio is on the increase. Standard Chartered Bank started its SME financing program in September 2003. It was known as Business Financial Services or BFS. Under BFS, SCB......

Words: 11488 - Pages: 46

Perception and Customer Satisfaction Towards Financial Products and Services of Hsbc Bank Limited

...to satisfy our customers with high quality service that reflects our global image as the premier international bank” Objectives of HSBC: HSBC’s objectives are to provide innovative products supported by quality delivery of systems and excellence customer services, to train and motivate staffs and to exercise social responsibility. By combining regional strengths with group network HSBC’s aim is to be the one of the leading banks in its principle markets. HSBC’s goal is to achieve sustained earnings growth and to continue to enhance shareholders value. 1.1 An Overview of HSBC Group The HSBC Group is named after its founding member, The Hongkong and Shanghai Banking Corporation Limited, which was established in 1865 in Hong Kong and Shanghai to finance the growing trade between China and Europe. Thomas Sutherland, a Hong Kong Superintendent of the Peninsular and Oriental Steam Navigation Company helped to establish this bank in March 1865. Throughout the late nineteenth and the early twentieth centuries, the bank established a network of agencies and branches based mainly in China and South East Asia but also with representation in the Indian sub-continent, Japan, Europe and North America. The post-war political and economic changes in the world forced the bank to analyze its strategy for continued growth in the 1950s. The bank diversified both its business and its geographical spread through acquisitions and alliances. HSBC Holdings plc, the parent......

Words: 21480 - Pages: 86

Customer Satisfaction in Commercial Bank

...An Internship Report On ip Report on OVERALL CUSTOMER SATISFACTION- (A Study on Standard Chartered Bank) Overall Customer Satisfaction (A case study on Standard Chartered Bank) An Internship Report BY Md. Saifur Rahman Registration No. 00545 Examination Roll No. 10 Session: 2003-2004 Faculty of BAM Bachelor of Business Administration (BBA) Major In Finance FACULTY OF BUSINESS ADMINISTRATION & MANAGEMENT PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY DUMKI ,PATUAKHALI AUGUST 2009 Overall Customer Satisfaction (A case study on Standard Chartered Bank) An Internship Report BY Md. Saifur Rahman Registration No. 00545 Examination Roll No. 10 Session: 2003-2004 Faculty of BAM Submitted to the Department of Finance Patuakhali Science And Technology University Dumki ,Patuakhali In partial fulfillment of the requirements for the degree of Bachelor of Business Administration (BBA) Major In Finance [ FACULTY OF BUSINESS ADMINISTRATION & MANAGEMENT PATUAKHALI SCIENCE AND TECHNOLOGY UNIVERSITY DUMKI ,PATUAKHALI AUGUST 2009 Overall Customer Satisfaction (A case study on Standard Chartered Bank) An Internship Report BY Md. Saifur Rahman Registration No. 00545 Examination Roll No. 10 Session: 2003-2004 Faculty of BAM Approved as to style and contents by Md. Nur Nabi (Supervisor) Md.Takibur Rahman (Co-Supervisor) Dr. NIrmal Chandra Shaha (External) FACULTY OF BUSINESS ADMINISTRATION &......

Words: 1548 - Pages: 7

Customer Satisfaction at Brite Bank

...ASSIGNMENT 1 CUSTOMER SATISFACTION AT BRITE BANK Brite Bank commenced operations a couple of years back and has a network of 25 branches, primarily operating in Mumbai, Pune, Nashik, Nagpur and some district capitals in Maharashtra. Started by a group of industrialists, the bank has been able to quickly commence operations and currently has more than 25,000 customers in its fold. The top and middle level management have been recruited from large private sector banks and are industry veterans. Ms Sneha Kulkarni, COO was a high flyer at one of the largest private sector banks, when she joined Brite. Her vision was to create a work force that could be nurtured on the vision and values of Brite Bank. Hence, all branch level officers and assistants were recruited and trained by the bank. For this, the bank tied up with AK Institute of Banking & Finance, a training institute, to provide initial training to probationary officers and Banking Assistants recruited by the bank. Advanced training was imparted by Brite’s own training team, both at the bank’s corporate office and at branch level. According to Brite, exemplary customer experience could be a unique differentiator to increase customer base. Large part of the initial infrastructure investment, was spent on creating an IT infrastructure which would enable the bank to quickly roll out value-added facilities like ebanking, mobile banking and enable tracking customer transactions, trends and behaviors. The bank scaled up to 25......

Words: 853 - Pages: 4

Customer Satisfaction in Banks

...INTRODUCTION In the organized segment, banking system occupies an important place in nation’s economy. It plays a pivotal role in the economic development of a country and forms the core of the money market in an advanced country. The commercial banks in India comprise of both Public sector as well as private sector banks. There are total 28 Public sector and 27 private sector banks are functioning in the country presently. Banks have to deal with many customers everyday and render various types of services to its customer. It’s a well known fact that no business can exist without customer. Customer satisfaction, a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. It is seen as a key performance indicator within business. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy. Customer satisfaction is unambiguous and abstract concept and the actual manifestation of the state of satisfaction will vary from person to person and service to service. The state of satisfaction depends on a number of both psychological and physical variables. BANKING INDUSTRY: AN OVERVIEW For centuries banks have played an important role in financial system of the country. The vital role continues even today although the form of banking has changed today with changing need of the economy and......

Words: 10253 - Pages: 42

Esg Report of Skyebank Plc

...SKYE BANK PLC 2013 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT BY TOLULOPE TCRUZZY SANNI. Skye Bank is a commercial Bank with international banking licence from the CBN. Its primary business focus is in Corporate, Commercial and Retail business segments. The Bank maintains an asset size of over NGN1 trillion, led by a management team with a clear strategic focus and a well diversified banking experience. The Bank has a nation wide distribution platform. It operates in over 240 business offices across Nigeria with 2,555 employees, 597 ATMs and 7212 PoS Skye Bank is an independent banking institution with a broadly diversified shareholding Base, the bank has close to 500,000 shareholders, none owning more than 5% of total Capital. PERFORMANCE ANALYSIS Financial Performance Skye bank’s gross earnings fell from 127.730bn in 2012 to 127,340bn in 2013 representing a decrease of 0.3%.Although net operating income grew from 69.845bn to 81.257bn representing a 16% increase. Net interest income grew 39% from 44.502bn to 61.698bn, while non-interest income (net fees,commission and other income) fell 18% from 26.698bn to 22.026bn. The bank’s profit before tax grew by 4% from 16.510bn to 17.136bn. The profit after tax was 16.023bn in 2013 to 12.644bn in 2012. To arrive at this result, the bank grew its total assets by 4% from N1.073.828 Thrillion in 2012 to N1.116.636 Thrillion 2013. Performance Ratios Skye bank’s interest margin reveal a stable focus on traditional......

Words: 4862 - Pages: 20

The Impact of Information & Communication Technology on Banks Performance & Customer Service Delivery in the Banking Industry

...Communication Technology on Banks‟ Performance and Customer Service Delivery in the Banking Industry Alhaji Abubakar Aliyu, Rosmaini Bin HJ Tasmin Department of Technology Management Faculty of Technology Management, Business and Entrepreneurships Universiti Tun Hussein Onn Malaysia, 86400, Parit Raja, Batu Pahat, Darul Ta’zim, Johor, Malaysia hp090012@siswa.uthm.edu.my rosmaini@uthm.edu.my Abstract - Information and communication technology (ICT) has become the heart of banking sector, while banking industry is the heart of every robust economy. If it collapses so will the economy. This is absolutely evident from current recession in European banks crises, and in turn. The effect of globalization, competition and innovation in the banking industry by its providers to offer their services makes essential the understanding of how various aspects of consumer behaviour affect the innovation and respond to customer service delivery. Within this context this paper has considered a critical literature review of previous researchers with the objective to examine the impact of Information and Communication Technology on banks performance and customer service delivery. This paper also makes of a critical review of peer reviewed, scholarly and organizational literature regarding the impact of ICT on banks’ performance to examine if banks have successfully achieved effective customer’s service delivery, by providing high level of c u s t o me r service through online delivery......

Words: 6521 - Pages: 27

N Analysis of the Customer Satisfaction: a Case Study of Bank Service

...com Volume 1, Issue 2, October 2012 ISSN 2319 - 4847 AN ANALYSIS OF THE CUSTOMER SATISFACTION: A CASE STUDY OF BANK SERVICE Haeryip Sihombing1, Parahsakthi Chidambaram2 and Kannan Rassiah3 1 Fakulti Kejuruteraan Pembuatan (FKP), Universiti Teknikal Malaysia Melaka (UTeM), Main Campus – Durian Tunggal, 17609 – Melaka, MALAYSIA 2 Politeknik Ibrahim Sultan (PIS)81700 Pasir Gudang, Johor Bahru, MALAYSIA 3 Politeknik Merlimau Melaka (PMM) Merlimau 77300, MALAYSIA ABSTRACT This study focuses on how to measure the customer satisfaction in the service industry towards the satisfaction aspects considered of the ServQual criteria. The questionnaires developed were using Kano criteria that manipulate the qualitative data of quality attributes into quantitative value and Likert scale based on the quantitative values. By comparing the results data of Likert scale and Kano criteria related to the service delivered, the measurement carried out in this study is towards the service of bank industry. The correlation among them, based on what the functional and dysfunctional of Kano domain compared to the Likert scale, are to validate what the main criteria required for the improvement priorities against customer satisfaction. This is due to the method of CAT ranking and graphical between CS versus DS are ambiguity for justifying the improvement of priorities required. Keywords: Customer Satisfaction, Kano, CS-DS, CAT. 1. INTRODUCTION A major outcome of marketing......

Words: 5857 - Pages: 24

Bank Customer Satisfaction

...2320-0073 CUSTOMER SATISFACTION - A CASE STUDY OF SYNDICATE BANKING SERVICES Tanu Bajaj1 and Kavita Dua2 1 Lecturer, Pt. N.R.S. Govt. College, Rohtak (Haryana), India Email: tanubajaj2011@gmail.com 2 Reserach Scholar, Maharshi Dayanand University, Rohtak (Haryana), India Email: Kavitaduaphd@gmail.com ABSTRACT Banking is an important field of study. In Indian economy where more than 70% population depends upon agriculture, there is a strong need of banking system. Syndicate bank is one of oldest & major commercial banks of India, which provides financial assistance to its local weavers. Customer is the pivot upon which whole banking business revolves. Banking is a service sector industry & customer service is the differentiating factor. Now the needs of customers have fully changed. Customer satisfaction is one of the mysterious concepts because every customer has its own expectations, beliefs, and psychology & physical variables. So it is very difficult for banks to work aligning with their customers’ needs. Therefore to know the customer satisfaction in syndicate bank research is conducted on 75 respondents. The respondents are of different background in age, sex, education &occupation etc. The study revealed that Syndicate bank customers are satisfied in many aspects such as bank’s basic amenities, loan procedure, and innovative schemes & with communication system & employees attitude towards some fields. Keywords: Banking Services, Customer......

Words: 1998 - Pages: 8

Barclays Plc, Lloyds Banking Group Plc

...Barclays Plc, Lloyds Banking Group Plc With British law makers wanting to slacken the grip of Britain’s four biggest lenders: HSBC, Barclays Plc, Lloyds Banking Group Plc and the Royal Bank of Scotland Group Plc, U.K antitrust regulators said that there is a great chance they will open an investigation into the checking accounts and banking services for small firms as customers seem to lack real options. The fact that these banks control more than 90 percent of the market for small business loaning and have been hit by scandals such as illegitimate sales of interest-rates exchanges and payment protection insurance, explains this pending investigation. With the current developments that aim to shock competition between the banks, Europe’s leading bank, HSBC and Allied Irish Banks Plc First Trust Bank were attacked by regulators as they violated competition rules by pressuring smaller companies to open accounts with them before allowing them borrow money. As a result of this scandal, several new banks have started up in an attempt to challenge the country’s leading lenders. It is obvious that existing regulatory and supervisory have failed to regulate the finance industry. The solution therefore relies on having improved regulation, not necessarily more regulation, based on actual supervisory institutions as well as transparency in financial market agreements. The concern of transparency within the financial sector will persuade managements of financial corporations to......

Words: 289 - Pages: 2

Report on Electronic Banking and Customer Satisfaction of Prime Bank

...the employee’s job satisfaction of EXIM Bank Limited of Tangail branch. Your kind cooperation is needed for the study purpose. Your identification\feedback will be concealed. [ please put the tick (√) your opinion about the following statements range from strongly Gender Male Female Age Less than 20 20-30 30-40 40-50 50 & above Occupation Sl Dimensions Strongly Agree Agree Neutral Disagree Strongly disagree 5 4 3 2 1 01 Standard Bank has modern looking equipment. 5 4 3 2 1 02 Standard Bank’s physical facilities are visually appealing 5 4 3 2 1 03 Standard Bank’s reception desk employees are neat appearing 5 4 3 2 1 04 Materials associated with the service (such as pamphlets or statements) are visually appealing at Standard Bank 5 4 3 2 1 05 When Standard Bank promises to do something by a certain time, it does so 5 4 3 2 1 06 When you have a problem, Standard Bank shows a sincere interest in solving it 5 4 3 2 1 07 Standard Bank performs the service right the first time 5 4 3 2 1 08 Standard Bank provides its service at the time it promises to do so 5 4 3 2 1 09 Standard Bank insists on error free records. 5 4 3 2 1 10 Employees in Standard Bank tell you exactly when services will be performed 5 4 3 2 1 11 Employees in Standard Bank give you prompt service 5 4 3 2 1 12 Employees in Standard Bank are always willing to help you 5 4 3 2 1 13 Employees in Standard Bank are never......

Words: 403 - Pages: 2

A Study on Customer Satisfaction with Reference to Bank Muscat

...A Study on Customer Satisfaction with reference to Bank Muscat- Dhofar Region Table of Contents Topics Page No. Introduction to the Study 2 Aims and Objectives 3 Scope of the Study 3 Rationale 3 Literature Review 4-8 Research Variables 8 Conceptual Framework 9 Research Methodology 10 Data Analysis 10 Time Plan 11 Budget 11 Limitations of Study 12 References 13-14 A Study on Customer Satisfaction with reference to Bank Muscat- Dhofar Region Introduction to the Study The banking sector plays an important part in our country, it has become difficult to imagine a world without banks. A country’s economic stability is maintained through banking systems, which the government does by making use of different monetary tools. Banks are always looking for ways to provide extra benefits for their borrowers and depositors, commercial banks set up have been serving citizens for a long time. (Natrajan and Parameswaran, 2001) In the Sultanate of Oman the banking sector is a competitive environment which comprises of local, foreign banks and financial institutions. The banking sector scenario according to Tarawneh (2006) is one that challenges all banks to be prepared appropriately in order to meet the increasingly competitive financial market by dealing with the continuously broadening national and international banking markets, adapting to the latest technological innovations and by providing numerous......

Words: 2982 - Pages: 12

Customer Satisfaction in Banks

...htm Service Quality Perspectives and Customer Satisfaction in Commercial Banks Working in Jordan Anber Abraheem Shlash Mohammad Assistant Professor, Marketing Department Petra University, Jordan, B.O.Box: 961343, Amman 11196-Jordan E-mail: mohammad197119@yahoo.com Shireen Yaseen Mohammad Alhamadani Assistant Professor, Finance and Banking Department Petra University, Jordan Abstract The aim of this research was to examine the level of service quality as perceived by customers of commercial bank working in Jordan and it's effect customer satisfaction, Service quality measure is based on modified version of SERVQUAL as proposed by Parasuraman et al. (1988), which involve five dimensions of Service quality, namely Reliability, Responsiveness, Empathy, Assurance, and Tangibles. Customer satisfaction was measured by a nine item adapted from Walfried et al. (2000), 260 questionnaires were distributed randomly to customers of commercial banks branches located (thirteen commercial banks in Jordan ) in IRBID (Acity of Jordan ). Multiple regression analysis was employed to test the impact of service quality on customer satisfaction. The results of this study indicated that service quality is an important antecedent of customer satisfaction. It is apparent from the present study that managers and decision makers in Jordanian commercial banks to seek and improve the elements of service quality that make the most significant contributions on customer satisfaction Keywords: Service......

Words: 7311 - Pages: 30

Chase Bank Customer Service

...Introduction Customer satisfaction in the banking industry revolves around receiving a positive feedback regarding aspects such as staff conduct, credibility, communication and access to banking services whether through online banking or teller services. These factors represent the final dimensions of service quality that satisfy the customers. There are also the intangible aspects of the staff-customer interface. These intangible aspects include the implementation of a helpful, caring, and friendly and a committed approach among the members of the bank staff. Indeed, a positive experience in the area staff-customer interaction was the key to maintaining a high level of customer satisfaction. In a way, the bank customers respond positively to the customer-oriented, high-touch, and an intangible service quality criteria in an age of increased automation. The Chase Bank acknowledges that the critical dimensions of bank service quality and their implementation in practical business terms varies as the customer profiles and customer experiences evolve. Some studies have found that bank service quality expectations vary by segments and by countries (Arasli et al., 2005), and by time. It is possible that the saliency of bank service quality dimensions may be situational and may also adapt as the context changes. The ‘speed of service’ reflects differences resulting from both customer characteristics and exposure to high-tech banking practices. For example, a......

Words: 2616 - Pages: 11

Suministros de limpieza para el hogar | Hell and Back: The Kane Hodder Story | pros-and-cons-computer-forensics