ABSTRACT
In banking, qualify of customer services plays a crucial role in the context of sustaining business growth. The relationship between a bank and its customers must be a permanent and enduring one, which needs to be maintained with good banking services. In this project, an attempt has been made to ascertained the level of satisfaction .of customers as regards banking services in Nigeria. It highlights the banks marketing strategies. The satisfaction level of the customers has been measured and the varieties of new services which influence the satisfaction level of the customers have been analyzed, the level of customer services and satisfaction has been determined with the varieties of services provided by the banks in Nigeria.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The objective of this research work shows how the banking services increases customer satisfaction and also boost their patronage with particular reference to FIRST BANK OF NIGERIA PLC.
However, it is used to measured the level of customer satisfaction and services rendered in the banking industry in Nigeria. As a matter of fact, many banks subscribed to the high customer satisfaction will leads to greater customer loyalty which in turn, leads to both present and future revenue. For that purpose, many organizations that resulted by having superior service quality have been found to be market leaders in terms of turnover and long term customer loyalty and retention.
Some of the banks that have given their customers banking services have recorded tremendous success and has boosted their profitability and the number of customers who patronize them.
In the face of this, evolving bend confidence reformation and restoration efforts by individual banks has improved the banking services in order to satisfy the potential customers and entice others, bank customers have become cautions discriminating chooser and to a large sophisticated.
Banking operations are becoming increasingly, customer dictated. The demand for “banking super malls” offering one stop integrated financial services is well on the rise. The ability of banks to offer clients access to several market for different classes of financial instruments has become a valuable competitive edge. Convergence in the industry to cater for the changes of demographic expectations is now more than evident. Bank assurance and other forms of cross selling and strategic alliance will soon alter the business dynamics of banks and fuel the process of consolidation for increased scope of business and revenue. The thrust on farm sector, health sector, and services offers several and investment linkages. In short the domestic economy is an increasing pie which offers extensive economic of scale that only, large banks will be in a position to tap. With the phenomenal increase in the country’s population and the increased demand for banking services, speed and customers satisfaction are going to be key differentiators for each bank to get useful feedback on their actual response time and customer service aspect of retail banking, which in turn will help them take positive steps in maintaining a competitive edge. This exercise in the context of the banking industry will give us an insight into the parameters of customer satisfaction and their measurement. This vital information will help us to build satisfaction amongst the customer’s and customer loyalty in the long run which is an integral part of any business.
1.2 JUSTIFICATION OF THE STUDY
Some of the main problems faced by customers when it comes to banking hour which are too rigid and not flexible. Usually, most banks operating hours are from Monday to Friday and begins operation from 8.30 am – 4:30pm; or as the case may be prior to this period, Nigeria banks use to commence their services beginning from 10:am in the morning while closing is at 4:00pm from Monday to Friday, but due to consumers demand, the trends changed, when the banks begins their services and some hours earlier.
Despite the practice of beginning services half an hour earlier, some banks that are positioned in shopping malls and departmental stores open up for business. Besides the banking hours, other issue customers are facing is queuing up in Nigeria banks. Standing in line for a long time at the banks is non-productive and is also waste of time. As such, most banks now have development a way to address customers problem. A suggestion box placed at the foyer or entrance another one is opinion meter in some banks or a well – conducted survey is a good start to learn about customer’s needs. For the purpose of this research work, feedback from the survey revealed the reasons that led to customers satisfaction. It was demonstrated that in order to maintain the grip on customer, many banks have now set up suggestion and complaint avenues as hotline, 24 hours call services and online services, customer cares services department. At glance, the issues in relative to banking customer’s have seen various rapid changes in the past decades.
1.3 STATEMENT OF THE PROBLEM
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