THE OTIOSITY OF BANKS’ CORE VALUES AND CUSTOMERS SATISFACTION: NIGERIA EXPERIENCE

Idowu, Abiola & Adedipe, Oluwaseyi Ayodele

Department of Management and Accounting, Ladoke Akintola University of Technology, Ogbomoso, Oyo State, Nigeria.

Department of Accounting and Finance, Ajayi Crowther University, Oyo, Nigeria.  Oyo.

Email: abiola1007@gmail.com, hephzibahfine@gmail.com

ABSTRACT

The paper explores the issues involved in banks core value and customers’ satisfaction in Nigeria. Fourbanks were used which represent International banks/mega, National banks, Regional banks and other banks. Primary data through questionnaire was also used. The Pearson Moment Correlation techniques regression analysis was applied. Findings of the analysis show that both customer support process ß= .510 t= 5.267 and turnaround ß= .613, t= 6.271, were at confidence level of 0.01. Also, Pearson’s coefficient correlation (R) value of bank fees, charges and rates, accessibility, quality of service and customer’s satisfaction to be .646. The result implies that a positive correlation occurs between bank core values and customer’s satisfaction. Also the regression analysis shows that customer support processes and turnaround time impacted positively on customers’ satisfaction and were also statistically significant. The study therefore recommends that banks should; identify the best bank core value by sorting through customer’s responses (feedback) to marketing efforts, match a specific offer with a specific customer service delivery as a way to sell, cross-sell, and up-sell their bank products, improve customer satisfaction by remembering customer preferences and offering relevant incentives and information, also for Nigeria bank to be able to compete with other developed countries banks in terms of customers satisfaction, the banks must maintain a strict core values.

Keywords: Otiose, Customer’s satisfaction, Bank’s core value, Service quality.