Download Free Service Quality And Customer Satisfaction In Banks During An Economic Recession And Banking Crisis Period Book in PDF and EPUB Free Download. You can read online Service Quality And Customer Satisfaction In Banks During An Economic Recession And Banking Crisis Period and write the review.

The authors tested a modified SERVQUAL scale based on a survey of Pancretan Cooperative Bank's customers - in terms of a critical case study - in order to identify any differences in service quality satisfaction and its impact on the behavioral intentions of the bank's customers. Considering the BANKZOT model, the research intention was to: (1) identify the zone of tolerance (ZOT) of bank's services performance and customers' satisfaction level; (2) examine which of the service quality dimensions of the adapted SERVQUAL model contributed significantly to overall customer satisfaction and loyalty; and (3) examine if the ZOT of bank's services performance might successfully predict customer loyalty, market share and financial performance in an economic and debt crisis period. The data were collected by means of a structured questionnaire answered by 150 bank's customers from all over Crete (island of Southern Greece). Based on the research results, the authors were leaded to the conclusion that the ZOT of Bank's services performance might successfully predict customer loyalty, contribute substantially to the increase of the market share, and increase bank's financial performance, in an economic recession and banking crisis period. Research, practical and policy implications are summarized in the discussion section.
Service providing companies faced with stiff competition usually employ service quality strategy to attract, retain and grow profitable customers in a sustainable manner with attendant benefits such as increased customer satisfaction, market share, sales, and profitability. However, service quality strategy is particularly difficult to maintain or improve during economic recession due to significant changes in consumer behavior which causes decline in company sales and profitability on the one hand, and increased cost of operation which put pressure on the management to employ appropriate survival strategies to ensure perpetual existence of corporations, on the other hand.Thus, this study examines how the management team of banks resolved the conflict of improving or maintaining service quality (usually at higher cost) as against pursuing cost reduction strategies during a recession. Methodologically, the study employed a combination of survey, quantitative, descriptive research designs; questionnaire was used for primary data collection; measure of averages were used to analyze research data and answer the research questions. The study found, among others, that banks were largely affected by the recession with deposit mobilization and credit allocation receiving the extreme effect. The study also found that banks' investment on service quality dropped slightly during recession, while the perceived service quality of key service-delivery facilities also diminished slightly. The study, therefore, recommends that banks should re-invest in upgrading the service quality of service-delivery facilities if the recession persisted beyond the second quarter of a year.
In nineteenth century, banking segment of service sector reported highest growth in India. Today banking has become a part of our life. Banks fulfill the financial needs of every segment of society like rural artisan, farmers, industrialist and government. Banking segment of service sector make a payment to increase the pecuniary development of any country by transforming financial resources in to productive resources. Hence banking becomes necessity for economic, agricultural and industrial development of an economy. Now a day, banking becomes necessary for every commercial activity. Banks are the largest depositors of people's saving and largest lender of money. Today, one cannot suppose to seize banking services for a single day because without banking no financial transaction takes place. If the banks stop working for some days, a situation of financial crises may arise. The present study is divided into five chapters. The first chapter provides an insight into the concept and consequences of banking, service quality and customer satisfaction. Second chapter presents a review of major research work done in the field of measurement of service quality and customer satisfaction particularly in banking sector. The third chapter offers research methodology adopted for the study. The forth chapter deals with the analysis part of the study and the fifth chapter assembles, the findings and conclusions and suggest some suggestions to the higher authorities of the bank to improve quality of services provided by the studied bank. I always remain thankful to all from whom I have gained knowledge during my studies and who have provided help and assistance in the successful execution of this research work. I shall be failing in my pious duty if I don't express my deep sense of gratitude to my supervisor, Dr. HemaGulati, Assistant Professor, for her intellectual, creative and affectionate support throughout the course of the study. Her constant guidance and motivation enabled me to go into this endeavor with great zeal and zest. I am deeply indebted to her not only for sparing her precious time enthusiastically but also stimulating discussions and valuable suggestions. I feel it all the more necessary to mention and record my heartily thanks to staff of libraries of MaharshiDayanand University, Rohtak; D.A.V. Institute of Management Faridabad; DAV Girl's College, Koslifor their cooperation in collection of data, literature and other information.
We tested a modified SERVQUAL scale based on a survey of Pancretan Co-operative Bank's customers - in terms of a critical case study - in order to identify any differences in service quality satisfaction and its impact on the behavioural intentions of the bank's customers. Considering the BANKZOT model, our research intention was to: (1) identify the zone of tolerance (ZOT) of bank's services performance and customers' satisfaction level; (2) examine which of the service quality dimensions of the adapted SERVQUAL model contributed significantly to overall customer satisfaction and loyalty; and (3) examine if the ZOT of bank's services performance might successfully predict customer loyalty, market share and financial performance in an economic and debt crisis period. The data were collected by means of a structured questionnaire answered by 150 bank's customers from all over Crete. Based on the research results, we were leaded to the conclusion that the ZOT of Bank's services performance might successfully predict customer loyalty, contribute substantially to the increase of the market share, and increase bank's financial performance, in an economic and debt crisis period.
The aim of this study is to examine the correlation of the service quality dimensions to the overall customer satisfaction in the Greek banking sector, following its restructuring due to the mergers and the takeovers during the current financial crisis period (2009 - 2015), and to analyze in particular the case of Piraeus Bank, the biggest Greek commercial Bank. The research conducted so as the data to be collected, was drawn from a customer sample of the Piraeus Bank and as for the measurements used, are based on the widely accepted SERVQUAL model, as it is proposed by Parasuraman et al., (1988). where the five dimensions of service quality merged: reliability, responsiveness, empathy, assurance and tangibles. According to the results, all service quality dimensions are positively related to the customer satisfaction. The greatest impact, regarding customer satisfaction, was observed most in the dimensions of empathy and reliability. Moreover, it was discovered that a certain type of customer discontent is on the verge of being manifested among the considered bank services.
Research Paper (postgraduate) from the year 2014 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 65.00, University of Salford, course: Financial Services Management, language: English, abstract: This research was undertaken to examine the overall customer satisfaction with service quality delivered by Nigerian Banks through the use of ATM and to also ascertain whether some service quality factors exert a strong influence on the level of customer satisfaction; The concept of service quality has become eminent in every business discourse; a high service quality serves as an incentive for customers to come back due to satisfaction. To consistently maintain a high level of customer service, service firms must recognize that every aspect of their business has an impact on the customer. In this study, two types of data were collected; Primary Data and Secondary Data. This was necessary since it helped to add to the findings of the researcher. A simple random sampling and purposive sampling method were used. This ensured that every member of the population had an equal chance of being part of the sample. The sample size chosen was 200 bank customers. It was revealed in the survey that customers think that the banks need to improve on their quality of ATM services and a high number of the customers are willing to switch banks for the sole reason of an ATM that offers the highest service quality. The study also revealed some of the problems associated with the services provided by the ATM that the customers dislike and want to be adjusted, they are ATM cash out, the limit placed on daily withdrawal, Transaction error, slow response to dispute resolutions, Network problems, Long queues, Security issues and Card retraction.
In many developing countries, including South Africa, the banking sector is highly concentrated resulting in intense competition among the big four banks in South Africa (e.g. Standard Bank, Nedbank, First National Bank and Absa, and one emerging bank Capitec). In favourable economic conditions, the banking sector plays an essential role in the economic growth of the country. However, the global financial crisis of late 2007 changed the outlook for an already slowing economy, and South Africa was not immune to the impact of the global financial crisis-induced economic slowdown. The banks have been faced with increasing competition and rising costs as a result of regulatory, financial and technological innovation, entry of the foreign banks in the retail banking environment, local competitors who are introducing new and innovative product offering and the challenges of the recent financial crisis. These changes have had a dramatic impact on the performance in sales for commercial banks. Retail banking offers a comprehensive suite of products (e.g. Home Loans, Vehicle Finance, Sales and Investments and Cheques) to customers. It also provides these products through extensive branch networks. Over a period of six months, certain branches of Absa Bank have not been able to meet set targets in sales of the banking products and have caused under-performance in sales for the relevant branches. There are 47 branches in the Gauteng East Region and, among these, six branches were randomly selected under-performing branches in terms of sales targets. This research aims to determine the causes behind under-performance in these East Gauteng branches, as such information would provide management with useful information. The aim of the study is to tests the influence of employee satisfaction, service quality, and customer satisfaction on sales performance, i.e., how these variables impact on sales performance at the branch level.
Purpose - To analyze and compare service quality in the commercial banking sector of a small island economy - Cyprus - and to investigate the relationship between overall bank customer satisfaction in the Turkish- and Greek-speaking areas of Cyprus and positive word-of-mouth about their banks.Design/methodology/approach - A total of 268 commercial bank customers responded to a Greek and Turkish translated version of the SERVQUAL instrument. After descriptive and factor analysis, multivariate regression was used to estimate the impact of service quality dimensions on overall customer satisfaction and word of mouth.Findings - The responsiveness dimension failed to load and thus the SERVQUAL scale proved to be of a four-dimensional structure in this study. Research results revealed that the expectations of bank customers in both areas were not met and that the largest gap was found in the empathy dimension. The assurance dimension had the largest influence on customer satisfaction and overall satisfaction of bank customers in both areas of Cyprus had a positive effect on their word-of-mouth.Research limitations/implications - There were some difficulties in conducting interviews in the Greek-speaking area of Cyprus and this may have limited the potential sample size. Future research could test the generalizability of findings in other small island economies and look at how the service is delivered by frontline employees.Practical implications - Helps banks in both areas of Cyprus to redefine their corporate image to one that is customer-focused and driven by service quality. Findings are also significant for the Turkish-speaking area which is not at the same level of economic development as its neighbours in the south and needs to restructure its banking system before accession to the EU.Originality/value - This study investigates service quality in a small island economy. There is disparity in the banking sector of a divided Cyprus, where banks in the South have undergone significant restructuring before EU accession and banks in the North are affected by the economic crisis and need to restructure if they want to join the EU.
Academic Paper from the year 2019 in the subject Business economics - Customer Relationship Management, CRM, language: English, abstract: This research tries to examine the impact of service quality on customer satisfaction in Banking Industry of India. The researcher has collected primary data from 850 customers of public, private and foreign sector banks operating in the northern region of India namely Delhi NCR, Uttar Pradesh, Rajasthan and Punjab. The researcher also took feedback from 50 bankers including one Senior Manager from each Bank to analyze their perspective and initiatives taken at strategic level to ensure optimum customer satisfaction is provided. The data was collected through a structured questionnaire for both customers and bankers. The secondary data was collected from academic journals, bank annual reports and credible websites. The aim of this research is specifically to analyze the dimensions of the perceived and expected service quality and its effects on customer satisfaction. Customer satisfaction is paramount to any sector which provides service and needs to sustain its advantage over the competitors. The Banking Industry of India is highly competitive with the advent of recent entrants into the market functioning along with well-established Banks. It becomes imperative for senior management of banks to focus on quality of services and products offered to customers to ensure their growth and retention Banks need to continuously innovate their methodologies and techniques to remain at the fore front. Even though the different sector of Banks in India are making huge efforts in achieving this objective, there is not enough proof to demonstrate comparative analysis of how customer satisfaction is impacted by the quality of their services, leaving a major gap in Indian literature.
The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.