CENTRALE BANK VAN ARUBA COMMERCIAL BANKS CUSTOMER SATISFACTION SURVEY 2012 RESULTS

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1 CENTRALE BANK VAN ARUBA COMMERCIAL BANKS CUSTOMER SATISFACTION SURVEY 12 RESULTS February 13

2 2 Commercial Banks Customer Satisfaction Survey 12-Results CONTENTS 1. Background to the 12 survey 2. Demographics 3. Service quality 4. Customer satisfaction. Customer loyalty 6. Conclusion

3 3 1. BACKGROUND TO THE 12 SURVEY The aim of this survey: To measure the service quality of, the customer satisfaction with, and loyalty towards the commercial banks in Aruba Commercial Banks Customer Satisfaction Survey 12-Results The target population of the study: Any individual above 18 years who has a deposit account, a loan account, or a person who makes use of bank services. The convenience sampling was used, which involves selecting sample units on the basis of how easily accessible they are and are very common in research. A sample size of 6 was targeted and 67 questionnaires were completed and returned.

4 4 1. BACKGROUND TO THE 12 SURVEY Development of the questionnaire Commercial Banks Customer Satisfaction Survey 12-Results The questionnaire was developed by the Survey Committee Commercial Banks Customer Satisfaction 12. Data collection The personal interview was selected to collect the data. Collection period 1. September 3-23, 12, a total of 8 surveyors with an assignment to collect 7 respondents each. At the end of the period 47 responses were collected. 2. September 29-October 14, 12, 1 surveyor with the assignment to collect the remaining 6 respondents.

5 Commercial Banks Customer Satisfaction Survey 12-Results 2. DEMOGRAPHICS Gender Frequency Male Female Total Age group Frequency Total Highest level of education Frequency Less than primary education Primary education EPB/LTS MAVO/MULO MAO, MTS, EPI HAVO VWO HBO (Bachelor s degree) WO (Master s degree) Ph.D. (Doctoral degree) Total Missing 34.6 Total How many banks do you deal with? Frequency Total

6 Commercial Banks Customer Satisfaction Survey 12-Results 6 2. DEMOGRAPHICS Savings account Frequency No Yes Total Current account Frequency No Yes Total Time deposits Frequency No Yes Total Credit cards Frequency No Yes Total Car loans Frequency No Yes Total Housing mortgage Frequency No Yes Total Personal loans Frequency No Yes Total Other loans Frequency No Yes Total

7 6 Commercial Banks Customer Satisfaction Survey 12-Results Not applicable 3. SERVICE QUALITY- PHYSICAL ASPECTS/TANGIBLES 9. Missing Disagree =1 Disagree=2 Tend to agree= =6 = Mean:.91 Mean: Mean:.87 Mean: Mean: Question 1 Question 2 Question 3 Question 4 Question Disagree Disagree Tend to disagree Neutral Tend to agree Missing Q1. My bank s personnel is neat in appearance Q4. My bank has sufficient customer representatives Q2. My bank has sufficient seating arrangement for its customers Q. My bank has sufficient tellers Q3. My bank s personnel has the required skills and knowledge

8 SERVICE QUALITY- RELIABILITY Commercial Banks Customer Satisfaction Survey 12-Results Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 = Mean:.62 Mean:.64 Mean: When my bank promises to do something by a certain time, it does so. 7. My bank provides the right service the first time. 8. My bank keeps accurate records of transactions and requests Disagree Disagree Tend to disagree Neutral Tend to agree Missing

9 Commercial Banks Customer Satisfaction Survey 12-Results 9 3. SERVICE QUALITY- RESPONSIVENESS 6..8 Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 = Mean:.9 Mean:.83 Mean:.68 Mean: My bank gives me prompt service 1. Personnel at my bank is always willing to help 11. When I have a problem, my bank shows sincere interest in solving it. 12. Bank employees always have the time to provide service Disagree Disagree Tend to disagree Neutral Tend to agree Missing Not applicable

10 1 3. SERVICE QUALITY- COURTESY 13. Customer representatives are friendly and well-behaved 14. Employees at my bank address complaints in a friendly manner Commercial Banks Customer Satisfaction Survey 12-Results Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 =7 1. Employees at my bank treat me as a valued customer Mean:.93 Mean:.8 Mean: Disagree Disagree Tend to Neutral Tend to disagree agree Disagree Disagree Tend to Neutral Tend to disagree agree Disagree Disagree Tend to Neutral Tend to disagree agree

Commercial Banks Customer Satisfaction Survey 12-Results 3. SERVICE QUALITY- EMPATHY 6 3.2 Mean:.2 Mean:.97 Mean: 4.81 4. 4 Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 =7 6.

11 Commercial Banks Customer Satisfaction Survey 12-Results 3. SERVICE QUALITY- EMPATHY Mean:.2 Mean:.97 Mean: Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 =7 6.8 Mean: Mean: My bank has convenient opening hours My bank takes my safety very seriously 18. My bank keeps my waiting time to a minimum 19. My bank takes the. My bank takes my privacy confidentiality of my data very very seriously (physical) seriously Disagree Disagree Tend to disagree Neutral Tend to agree Missing Not applicable

12 Commercial Banks Customer Satisfaction Survey 12-Results SERVICE QUALITY ELEMENTS 7 6 Tangibles Mean Reliability Responsiveness Courtesy Empathy Overall Service Qualty Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 =

13 Commercial Banks Customer Satisfaction Survey 12-Results CUSTOMER SATISFACTION 6.9 Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 =7 Mean Disagree Disagree Tend to disagree Neutral Tend to agree I am satisfied with the services of my bank 23. I am satisfied with the products of my bank 24. I am satisfied with the ease of obtaining lending products (mortgages/loans/ credit cards) at my bank 2. I am satisfied with the ease of opening an account at my bank 26. Overall, I am satisfied with my bank

14 CUSTOMER LOYALTY 27. I recommend my bank to others Disagree Disagree Tend to disagree 11. Neutral 13. Tend to agree 43.8 Mean:.7 4 Mean: Missing I am seriously thinking about switching banks 11.4 Disagree Disagree Tend to disagree 9.7 Neutral Commercial Banks Customer Satisfaction Survey 12-Results Tend to agree Missing Disagree =1 Missing Disagree=2 Not applicable Tend to agree= =6 = It is easy to switch banks Disagree Disagree Tend to Neutral Tend to disagree agree 18.3 Mean: Missing.3 Not applicable 4 4. Price (interest and fees) affects where I bank Mean: I am willing to pay a higher price for a better product and/or service 4 4 Mean: I am a loyal customer Mean: Disagree 12. Disagree 4.6 Tend to disagree 26. Neutral 13. Tend to agree Missing.2 Not applicable Disagree Disagree Tend to Neutral Tend to disagree agree Missing Disagree Disagree Tend to Neutral Tend to disagree agree Missing

15 Commercial Banks Customer Satisfaction Survey 12-Results 1 6. CONCLUSION Based on the outcome of the survey it can be concluded that the commercial banks customers were generally satisfied with the service given to them, as 83.2 percent of the surveyed persons stated to be, to some extent, satisfied customers. When asked about the quality of the service, 84. percent of the respondents agreed up to a certain extent with the service quality of the commercial banks. Likewise, the majority of the respondents (8.4 percent) considered themselves loyal customers.

APPENDIX CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING INDUSTRY IN MADURAI CITY. Questionnaire

8 APPENDIX CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING INDUSTRY IN MADURAI CITY I. PERSONAL DATA 1. Name: 2. Age : Questionnaire a)below 25 b)26 to 35 c)36 to 45 d) 46 to 55 e)above 55 3. Gender : a) male