TABLE OF
CONTENTS
CHAPTER
ONE: INTRODUCTION
1.1 Background to
the Study
1.2 Objective of
the Study
1.3 Statement of
the Problem
1.4 Scope of the
Study
1.5 Limitations of
the Study
1.6 Significance
of the Study
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction
2.2 Activities of
the Commercial Banks and its Mode of Operation in Nigeria
2.3 Concept of
Customers Loyalty
2.4 Ways of
Influencing Customer Loyalty
2.5 The Concept of
Marketing in Banking
2.6 Role of
Promotional Activities in Banking Industry
2.7 How Bank
Should Care for their Customers
CHAPTER THREE: THEORETICAL FRAMEWORK AND MODEL
SPECIFICATION
3.1 Research
Design
3.2 Method of
Investigation
3.3 Questionnaire
Design
3.4 Sample Design
3.5 Questionnaire
Distribution
3.6 Data analysis
Technique
CHAPTER FOUR: EMPIRICAL ANALYSIS
4.1 Introduction
4.2 Types of
Customer Patronizing Banks
4.3 The Influence
of Bank Location on Customer Loyalty
4.4 Bank
Performance Influence on Customers Loyalty
4.5 The Influence
of the Products and Services of Bank on Customer Loyalty
CHAPTER FIVE: SUMMARY, CONCLUSION AND
RECOMMENDATION
5.1 Summary of
Findings
5.2 Conclusion
5.3
Recommendations
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE
STUDY
Nigerian banks in the
face of increasing competition are currently facing enormous challenges which
have made survival increasingly difficult. To survive and be successful
providers of financial services, it is extremely important that the present
environment should go with a new management order which will offer the customer
satisfaction and make better business performance. It is evident that today
customers have increasingly become so enlightened and aware of their importance
that ignoring them in search for competitive advantage can be suicidal for
banks. Therefore, banks must brace up to the challenges in a bid to provide an
effective customer service.
Banking operations in
Nigeria started in 1892 when African Banking Corporation opened its first
branch in Lagos to finance the shipping business of Elder Dumpster and Company
which was operating steamship services between Liverpool and the West African
coast. The Bank of British West Africa took over the activities of the African
Banking Corporation in 1893 (now First Bank of Nigeria Plc). In 1917, Barclays
Bank (now Union Bank of Nigeria Plc) was established. Shortly year, many more
Banks were established; some of which are the British and French Bank (now
United Bank for Africa Plc) established in 1949, the Industrial and Commercial
Bank established in 1929, National Bank of Nigeria Plc established in 1933, the
Agbonmagbe Ban (now Wema Bank) established in 1945, Nigeria Penny Bank
established in 1940, Nigeria Farmer and Co-operative Bank Plc established in
1947 and so on. (Okoh, S. E. and Unugbro, A. O. 2003).
The 1930’s and 1940’s
witnessed some bank failures which led to the setting up of the Patron’s
Commission of 1948 which formed the bedrock of the Banking Ordinance of 1952.
Even since then, commercial banks dominated the financial system and
constituted the largest group in the financial sector. On the attainment of
independence in 1960, there were twelve (12) banks with a total of 160 offices.
There was a rapid growth in the 70’s and by 1977, there were 19 banks with 492
branches. By 1987, the number of commercial banks had grown to 48 with 1714
branches. (Nwankwo, 1991).
Since independence
banking industry has grown tremendously and serves the greater proportion of
the general public. With the liberalization of bank license in 1980, a more
competitive environment and efficiency in the banking system was promoted. The
federal government budget of 1986 which introduced economic recovery was
subsequently articulated into the Structural Adjustment Programme (SAP) was a
deliberate response to distortion which has been prevalent in the Nigerian
economy since the “oil boom” of the 70’s. The reform process of this programme
led to the introduction of measure and instruments to deregulate the practice
of banking. With this, new banking techniques and range of products offered to
enhance economics efficiency and effective resources allocation introduced
through service driven competition resulted in product introduction and
adoption. With regard to the above development, individual banks have to carve
a niche themselves and decide the kind of customer, prices of their
product/services appropriating as well as promote such services in various ways
that the target will be aware of what is in offer. This concept of customer
service must be given priority since the era of arm chair banking is over
(Anyafo, 1998).
1.2 OBJECTIVES OF THE STUDY
The researcher seeks to
achieve the following objectives in the cause of carrying out the study on the
factors influencing customer’s loyalty in the banking industry.
i.
To find out and examine those factors that will influence customer loyalty in
the banking industry.
ii.
To determine the types of customer that patronizes the banks.
iii.
To find out the location of bank branch in Benin.
iv.
To determine how the locations affects the customers patronage.
v.
To determine the various products and services offered by the banks in Nigeria.
1.3 STATEMENT OF THE
PROBLEM
The relevance of the
customer in every business organization cannot be overemphasized having known
that the customer is the lifeblood of every business survival. The researcher
wishes to look into the following problems:
i.
The problem of effective customer services in the banking industry.
ii.
The problem encountered by bankers in determining the needs and wants of a
customer.
iii.
The problem of methods adopted by banks in meeting the individual needs of
their customers.
1.4 SCOPE OF THE STUDY
The study was carried
out within the Benin-Banking environment with specific inference to Union Bank
Plc, First Bank Plc, Guaranty Trust Bank Plc and Oceanic Bank Plc. The above
mentioned banks represent two old generation banks and two new generation banks
in the banking industry.
1.5 SIGNIFICANCE OF THE
STUDY
The significance of this
study are as follows:
i.
To provide effective customer services to the banking public.
ii.
To enhance economic efficiency and effective resource allocation in the Nigeria
banking industry.
iii.
To increase effects towards positive customer loyalty in the banking
industry.
Department | Banking and Finance |
Project ID Code | BFN0301 |
Chapters | 5 Chapters |
No of Pages | 79 pages |
Reference | YES |
Format | Microsoft Word |
Price | ₦5000, $15 |
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Contact Us On | +2347043069458 |