| Title : | Determinants of bank selection by Nepalese customers | | Material Type: | printed text | | Authors: | Anil Kumar Bist, Author | | Publication Date: | 2014 | | Pagination: | 84p. | | Size: | GRP/Thesis | | Accompanying material: | 3/B | | General note: | Including bibliography | | Languages : | English | | Descriptors: | Customer satisfaction
Banks
Banks and banking
Customer loyalty
Customer services
Management
Nepal
| | Keywords: | 'bank bank and banking management commercial customer nepal' | | Class number: | 332.01 | | Abstract: | Customer Bank selection is the decision that a customer takes on the basis of different attributes or factors that the bank has. The different factors taken in consideration by customers’ while selecting a bank are various types of services provided by the banks, Interest rates that has been taken or given by bank, promptness of services, responses of employees and so on. Bank occupies an important place in the framework of every economy. It provides capital for the development of industry, trade & business investing the saving collected as deposit. All the economic activities of every country are greatly influenced by the banking business of that country. Banks, by playing active roles, have changed the economic structure of the world. Integrated & speedy development of the country is possible only when competitive banking services reach nooks & corners of the country. Therefore a banking organization must prioritize the provision of high quality service to its customers. People are using the services of the banks to meet up their variety of purposes. Services delivered by the banks play an important role in forming customer’s attitude towards the organizations.
The study seeks to examine and gain an insight and understanding into the factors that informed customers' selection of banks as well as their loyalty to particular banks. This understanding and insight will further provide the light for Nepalese banks to formulate new strategies and decisions. Based on these strategies and decisions it will provide a roadmap which will help the banks to attract customers and groom them to become addicted and loyalist to the bank. The main purpose of the study was to investigate the determinants of bank selection used by Nepalese customers.
The study is based on primary data. Nature of data is qualitative which is collected from customers of sixteen Nepalese commercial banks that include public banks, joint venture banks and non joint commercial banks. The primary data analysis is done on the basis of different statistical tools like: Cronbach’s alpha, mean, median, percentage frequency distribution, and correlation analysis.
The major conclusions of the study are the customers’ reliability depends on attractive infrastructures. The satisfaction level of customers with current services provided by Nepalese Commercial banks is low. In case of efficient services provided by bank customers are satisfied except in case of Public sector banks. The customers like to recommend their bank to other people rather than public bank. Customers indicated location convenience as first major factor followed by high interest rate. According to the result the factors that customers consider while selecting Nepalese commercial banks most of the respondents’ ranked Number of branches as a most important factor affecting customers choice while choosing banks and secondly and Interest rate. Customers ranked Advertisement as most influencing factor followed by Timely service, responsiveness of bank employees and Bank location.
The correlation results of the different factors taken for the study in Public Banks Number of branches, Number of ATM links, and Opening hours have positive and higher degree of correlations with Bank location. Similarly, Deposit rate has low degree of correlation and insignificant relationship with Lending Rate, Bank Location and Number of Branches. Number of ATM links also has low degree of correlation and insignificant relationship with Lending Rate. Likewise, in case of Joint Venture Banks Number of branches, Number of ATM links and Opening hours have positive and higher degree of correlations with Bank location. In case of non joint venture banks Number of branches, Number of ATM links, and Opening hours have positive and higher degree of correlations with Bank location whereas Deposit rate has low degree of correlation and insignificant relationship with Lending rate. The overall results indicates that Number of branches, Number of ATM links, Opening hours have positive and higher degree of correlations with Bank location.
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Determinants of bank selection by Nepalese customers [printed text] / Anil Kumar Bist, Author . - 2014 . - 84p. ; GRP/Thesis + 3/B. Including bibliography Languages : English | Descriptors: | Customer satisfaction
Banks
Banks and banking
Customer loyalty
Customer services
Management
Nepal
| | Keywords: | 'bank bank and banking management commercial customer nepal' | | Class number: | 332.01 | | Abstract: | Customer Bank selection is the decision that a customer takes on the basis of different attributes or factors that the bank has. The different factors taken in consideration by customers’ while selecting a bank are various types of services provided by the banks, Interest rates that has been taken or given by bank, promptness of services, responses of employees and so on. Bank occupies an important place in the framework of every economy. It provides capital for the development of industry, trade & business investing the saving collected as deposit. All the economic activities of every country are greatly influenced by the banking business of that country. Banks, by playing active roles, have changed the economic structure of the world. Integrated & speedy development of the country is possible only when competitive banking services reach nooks & corners of the country. Therefore a banking organization must prioritize the provision of high quality service to its customers. People are using the services of the banks to meet up their variety of purposes. Services delivered by the banks play an important role in forming customer’s attitude towards the organizations.
The study seeks to examine and gain an insight and understanding into the factors that informed customers' selection of banks as well as their loyalty to particular banks. This understanding and insight will further provide the light for Nepalese banks to formulate new strategies and decisions. Based on these strategies and decisions it will provide a roadmap which will help the banks to attract customers and groom them to become addicted and loyalist to the bank. The main purpose of the study was to investigate the determinants of bank selection used by Nepalese customers.
The study is based on primary data. Nature of data is qualitative which is collected from customers of sixteen Nepalese commercial banks that include public banks, joint venture banks and non joint commercial banks. The primary data analysis is done on the basis of different statistical tools like: Cronbach’s alpha, mean, median, percentage frequency distribution, and correlation analysis.
The major conclusions of the study are the customers’ reliability depends on attractive infrastructures. The satisfaction level of customers with current services provided by Nepalese Commercial banks is low. In case of efficient services provided by bank customers are satisfied except in case of Public sector banks. The customers like to recommend their bank to other people rather than public bank. Customers indicated location convenience as first major factor followed by high interest rate. According to the result the factors that customers consider while selecting Nepalese commercial banks most of the respondents’ ranked Number of branches as a most important factor affecting customers choice while choosing banks and secondly and Interest rate. Customers ranked Advertisement as most influencing factor followed by Timely service, responsiveness of bank employees and Bank location.
The correlation results of the different factors taken for the study in Public Banks Number of branches, Number of ATM links, and Opening hours have positive and higher degree of correlations with Bank location. Similarly, Deposit rate has low degree of correlation and insignificant relationship with Lending Rate, Bank Location and Number of Branches. Number of ATM links also has low degree of correlation and insignificant relationship with Lending Rate. Likewise, in case of Joint Venture Banks Number of branches, Number of ATM links and Opening hours have positive and higher degree of correlations with Bank location. In case of non joint venture banks Number of branches, Number of ATM links, and Opening hours have positive and higher degree of correlations with Bank location whereas Deposit rate has low degree of correlation and insignificant relationship with Lending rate. The overall results indicates that Number of branches, Number of ATM links, Opening hours have positive and higher degree of correlations with Bank location.
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