Customer Satisfaction with Retail Banking Services in Ghana

Narteh, Bedman; Kuada, John

doi:10.1002/tie.21626

Cited by 36 publications

(32 citation statements)

References 90 publications

(144 reference statements)

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“…Maintaining customer loyalty is more important than a narrow focus on the one-off transactional demand for a company's product or service. The goal of a business is to ensure that beyond the initial transaction, the customer has a good experience and continues to perceive the company/service provider, and by extension its products and services in a positive post-transaction perspective (Narteh and Kuada, 2014;Tweneboah-Koduah and Farley, 2015). When a customer has a positive perception of a service provider, the customer will likely spread favorable views about the quality of service delivered by the company, thus increasing the market potential of the company.…”

Section: Introductionmentioning

confidence: 99%

Factors influencing consumer loyalty: evidence from the Ghanaian retail banking industry

Omoregie

Addae

Coffie

et al. 2019

IJBM

105

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Purpose The increasing number of banks in the Ghanaian banking industry has brought about intense competition in the industry. The purpose of this paper is, therefore, to examine the factors that influence retail banking customers’ loyalty intentions. Design/methodology/approach In order to validate the proposed research model, the study adopts a survey design. Data were collected from 565 customers of the top performing banks in terms of customer deposits. Data analysis employed the partial least squares structural equation modeling (PLS–SEM) using SmartPLS version 3. Findings Results from the PLS–SEM analysis indicated that satisfaction, service quality and trust had significant effect on loyalty, with satisfaction having the most significant effect. Interestingly corporate image was found to have a significant effect on both satisfaction and trust but not on loyalty. In all, the proposed model accounted for 63.3 percent of the variation in loyalty. Research limitations/implications The current study samples customers from only the top performing banks in Ghana. The use of cross-sectional data makes it impossible to study how customers’ perceptions change over time. Results from this study could, however, help managers of banks in designing strategies aimed at improving customer loyalty in order to consolidate their market share. Originality/value This paper adds to existing works that focus on loyalty in the retail banking sector, especially from the context of a developing economy. The study draws attention to the interrelationship among service quality, perceived value, satisfaction, image, trust and loyalty.

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Section: Introductionmentioning

confidence: 99%

Factors influencing consumer loyalty: evidence from the Ghanaian retail banking industry

Omoregie

Addae

Coffie

et al. 2019

IJBM

105

View full text Add to dashboard Cite

show abstract

“…Similar opinions from this study emerged as customers feel that if banks don't pay proper attention to customers they tend to switch their banks. Koloor [69] [70] as they can help in building strong customer base [71].…”

Section: Discussionmentioning

confidence: 99%

Banking Communications: A Perceptual Study of Customer Relations

Parajuli

Paudel

Devkota

2020

SAJSSE

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Hopefully, effective banking communications would improve and strengthen relationships with the stakeholders and work-team empowerment to achieve desired level of performance directing towards organizational success in changing operating and governing environments. Though the banks and their service have been advancing in Nepal, customer satisfaction in terms of banking communications is still a matter of serious concern. This paper explores perception of banking communications among the customers showcasing bank and customer relations. As a customer relation is one of the key indicators of banks profitability, the attention of banks has been gradually inclining towards customers through via more effective communication initiatives. Effective communication in banks helps their staff and customers in having knowledge about various strategic decisions that are implemented or are going to be implemented, understanding banking policies and procedures, acknowledging various issues related to banking and understanding ways forward for prosperity. The existing literature confirms a very strong positive relationship between communication in practice and perceived level of customer satisfaction. Thus, the banks must adapt proper strategies and techniques of effective communication with the valued customers. Bank procedures on communicating with customers depend on the structural sets and culture of the organization. Moreover, conceptual framework of the banking communications and customer relations also confirms the imperative need for addressing this issue more effectively, especially in changing context of Nepal. This research can be helpful to banks to know how customers perceive over all banking system and work accordingly. Also, it can be helpful to Nepal Rastra Bank for formulating banking policies and other concerned authorities can also be benefited through this research.

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“…The literature provides support for the positive impact of customer satisfaction on behavioral intentions (Narteh & Kuada, ). Oliver () posits that satisfaction is a significant component that leads to long‐term relationships.…”

Section: Toward the Investment Modelmentioning

confidence: 98%

An Integrated Model of Quality for Mass Services in the Context of the Ghanaian Retail Banking Sector

Boakye

Prybutok

Blankson

2015

Thunderbird Intl Bus Rev

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This study draws upon the service literature and operationalizes the investment model in the services domain to examine factors that contribute to customers' desire to maintain service relationships with fi rms (i.e., retail banks) in an emerging economy in sub-Saharan Africa: Ghana. We empirically test the explanatory power and robustness of the investment model using 218 customers of various banking institutions in Ghana. Results from partial least squares-structural equation modeling (PLS-SEM)reveal that (1) service quality is positively associated with customer satisfaction, investment size, and customer commitment; and (2) while customer satisfaction is positively associated with customer commitment, both investment size and quality of attractive alternatives are not associated with customer commitment. Interestingly, we found investment size to have a positive association with customer commitment only when fully mediated by customer satisfaction. Our model reveals that service quality and customer satisfaction predict 79.3% of the variation in customer commitment toward maintaining a service relationship with their retail banks. Discussion and managerial implications conclude the article.

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Customer Satisfaction with Retail Banking Services in Ghana

Cited by 36 publications

References 90 publications

Factors influencing consumer loyalty: evidence from the Ghanaian retail banking industry

Factors influencing consumer loyalty: evidence from the Ghanaian retail banking industry

Banking Communications: A Perceptual Study of Customer Relations

An Integrated Model of Quality for Mass Services in the Context of the Ghanaian Retail Banking Sector

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