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THE
EVALUATION OF CUSTOMER SERVICES IN BANKING INDUSTRY (A
CASE STUDY OF FIRST BANK NIGERIA PLC)
ABSTRACT
This project titled “Evaluation of Customer Services in Banking
Industry” (A case study of First bank of Nigeria plc). It is aimed at
evaluating the level of customer services in the banking industry. It has been
a wondering issue that majority of the banks in Nigeria
TABLE OF CONTENT
Title
page i
Approval
page ii
Declaration iii
Dedication iv
Acknowledgement v
Abstract viii
Table
of content iv
CHAPTER ONE
1.0
Introduction 1
1.1
Background to the problem 2
1.2
Statement of the problem 5
1.3
Objective of the study 7
1.4
Research hypothesis 8
1.5
Significance of the study 9
1.6
Scope of the study 10
1.7
Historical background of First Bank of
Nigeria Plc 11
1.8
Definitions of terms 14
CHAPTER
TWO
2.0
Literature review and theoretical
framework 19
2.1
Bank and customer relationship 19
2.2
Banker’s duties and responsibilities 25
2.3
Types of customer 28
2.4
Duties owed by customer to his banker 31
2.5
Bank and customers legal relationship 32
2.6
Services offered by banks to their
customers 35
2.7
Customers complaints as regards to
banking
services offered 38
CHAPTER THREE
3.0 Research methodology 41
3.1 Introduction 41
3.2 Population and sample size 42
3.3 Sampling techniques 43
3.4 Sources of method of data collection 45
3.5 Method of data analysis 47
3.6 Justification for the choice 47
CHAPTER FOUR
4.0 Data Presentation, Analysis and
Interpretation
4.1 Introduction 49
4.2 Data presentation 49
4.3 Data analysis and interpretation 57
4.4 Testing of hypothesis 62
4.5 Summary of finding 66
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendation 68
5.1 Summary 69
5.2 Conclusion 70
5.3 Limitation of the study 71
5.4 Recommendations 72
Bibliography 76
Appendix 78
CHAPTER ONE
1.0 INTRODUCTION
Forms of banking have been in existence about 500
BC. The early bankers (the jews) lombandy in Italy
This types of banking into not begin until the
sixteenth century. Italian goldsmiths working in London
The goldsmith with an age for profit were quick to
realize that some of the money deposited with than could safely be bend out and
realize interest. The practice was to be rewarding and many establishment tried
to take advantages of this way to make easy profit.
Unfortunately due to bad management there were
unconditional leading which led to the collapse of the business. In an attempt
to alleviate. This undesirable situation the British government established the
bank of England
1.1 BACKGROUND TO THE STUDY
Banking business all over the world is all about
providing various services to customers. These services range from accepting
deposits from customers, payment of cheques on their behalf, issuing of advances
and loans to them. All these are aimed at customers patronage where there is
effective and efficient services provided by the bank.
Customers service is any activity that is aimed at
pleasing or satisfying a client or customers to encourage more and more
patronage.
Banks are not left out of these, this is because
the existence is dependent on how much satisfaction they were able to give
their customers.
However customers service in the banking industry
for sometime now has been at a high deteriorating level. Bankers no longer
recognize the importance of customers satisfaction to the growth of their
business.
They keep them than necessary on the grave, give
them embarrassment by treating them harshly and even in some cases, there is
unusually harassment from the banks security men. The security men are in the
habit of harassing their customers in the area of parking of cars, perhaps,
because some of them are illiterates, they do not know that a customer is
considered a king and a king can do no wrong.
Also, the area of maintaining absolute secrecy
concerning all issues relating to customer’s account and other transaction
affairs is also lacking in banks.
This is making customers to lose confidence in
their bank. A bank that enjoys large patronage of customers is likely to have a
higher profit compared to the one with lower patronage.
In this research work, the researcher shall examine
those areas that the banks are lacking in terms of providing efficient and
effective services to customer the relationship between customer and the
bankers, their right as customers and provide recommendation on how banks
especially First Bank of Nigeria Plc can improve on it’s customers services
relationship.
1.2 STATEMENT OF THE PROBLEMS
Banking business is able about providing various
services to customer. These services range from acceptance of deposited,
payment of cheques. And soon on behalf of the customers, issuing of advice and
loan to customers but this services have not be an effective due to the
following reasons:-
a. Insufficient manpower:- This problem of
lack of competent employee has led to the slow performance of their services to
customers.
b. Lack of proper incentives from banks to
their employee: Incentives have a long way to go in motivating the employee for
put in more of their best in performing their duties. The move on individual is
encourage the better he can per. In carrying out his responsibility. But most
of our banking sectors today find it very difficult to respond to this aspect
of their employer which has course a lot of setback in their services to
customers.
c. Unqualified officer/employees:- One of the
major challenges we are facing in our banking industries today is the problem
of unqualified employee that are not competent in discharging their duties that
has lead to serious delay when attending to customers in their day to day
activities in the banking sectors. Which make customer querying unnecessary
before being attended to.
d. Lack of infrastructural facility e.g power
which has led to network failure most a times, this problem have of course
fluctuation in the services rendered by banks to their customer over the years,
unstable power supply is one of the major challenges that have hamper the
effective services banks could have provided to their customers.
e. High interest charges:- Most customers find
it very difficult to request for loans from our banks because of the level of
interest they may be charged which has led to slow saving and investment which
to some extent has affected the growth of the economy of our nation Nigeria
1.3 OBJECTIVE OF THE STUDY
The objectives of this study could be summarized as
follows:
a. To ascertain the quality of the service
rendered by banks to their customers.
b. to evaluate the inability of the banks
employee to provide effective and efficient customers services.
c. In order to know the customers Responses as
regards whether they are satisfied with
the services rendered to them or not.
d. to also know possible areas in which banks
can improved the quality of their services to customers.
e. To also evaluate areas in which they have
not been able to deliver satisfactory services to their customers
f. Analyzing the customers needs and want from
the marketing point of view as seeing the customers as kings and the reason for
their existence as banks.
1.4 RESEARCH HYPOTHESIS
Generally speaking , lot and lots of problems have
been encountered daily by customers. It has been found that there are always
long queue, rudeness and aggressive noise in the banking hall indicating the
state of satisfactory services rendered by bank.
Since study/observations, generally, this statement
being tentative stands the chance of being accepted out rightly or rejected.
For the purpose of achieving the objectives of this research work, the
following hypothesis will be tested. Hypothesis is a tentative statement about
problem.
Ho: Effective customer relationship does not enhance the performance of
banks.
Hi: Effective customers relationship enhances the performance of banks.
1.5 SIGNIFICANCE OF THE STUDY
This study is tailored towards evaluating customer
services in our banking sectors which over the years has not be efficient
enough as expected from customers. Since patterned towards enhancing the
effectiveness of customers services in banking sector.
This study will be of immense benefit to
undergraduate and other shareholders in banking industry who are eager to know
how customers services can be performed effectively without any unnecessary
delay or waste of time in the bank. It is also conducted to look for possible
means or ways in which banks can give their customer full confidence to go into
business with the bank without any fear in poor services delivering which has
been the experience of the past.
At the end of the study we intend to probe out
problems in the past, causes of those problems and also to provide
recommendation that will be of great help to our banking industry in rendering
services to their customers.
1.6 SCOPE OF THE STUDY
The case study of this research work is registered
to first Bank of Nigeria Plc, Yakubu
Gowon Way , Kaduna
The purpose of this work is to evaluate customers
services in the banking industry over the years which has not yet been able to
meet the demands and satisfaction of customers over the years.
a. To find out reasons for banks failure in
customers satisfaction.
b. to evaluate areas or differences in banking
sectors that has contributed to poor service delivery to customers.
c. To analyzes ways in which urgent attention
is needed to improve in order to provide quality services to their customer.
1.7 HISTORICAL
BACKGROUND OF FIRST BANK OF NIGERIA PLC
First Bank of Nigeria Plc, for over a century has
distinguished itself, a leading banking institution and a major contributor to
the economic advancement and development of Nigeria
Found in 1894 by a shipping magnet from Liverpool
sir Alre jones the bank commenced as a small operation in the office of elder
Dumpster and co in Lagos Liverpool . It started business under the corporate name
of Bank for British West Africa (BBWA) with a paid up share capital of 12000
pound starting after absorbing. It predecessors, the Africa Banking
corporation.
In the early of its operations, the bank recorded an
impressive growth and worked closely with the colonial government in performing
the traditional function of a central Bank to justify it’s West African
coverage a branch was opened in Accra Gold coast (now Ghana) in 1896 another in
freedom, sierra Leone in 1898 that marked the genesis of the bank international
banking operation. The branch of the bank was opened in old Calabar in 1900 and
two years later services were extended to northern Nigeria Nigeria
to established a subsidiary bank in the United Kingdom
To demonstrate it’s commitment to it’s customers
and the development of Nigerian economy. The bank has since broadened it’s loan
and credit portfolios to various sectors of the economy. The bank has improved
tremendously judging from a number of a parameters including number of
branches, growth and deposit base assertive and size of loans and advances
reliability. Sound banking practices has continually placed the bank in its
leadership position. In line with its mission statement to remain true to its
name providing the best financial services possible”. The bank will
consistently transform itself as it forges ahead in its second century of
qualitative banking services to the customers and nation in entirely.
1.8 DEFINITION
OF TERMS
Current
account:
Account in a bank form which the customer can drawn
money whenever he wants with the use of cheques book or ATM card. It does not
attract interest rather customer pay commission on turnover. Savings account.
Saving
account:
This account is to encourage lower income earner to
inculcate the savings habit. It is now withdrawal by third party. It attracts
interest passbook is used for withdrawal.
Banker:
A person in an important position in the bank. He
is a financial doctor that stand as intermediary between the deficit and
surplus sector of the economy.
Customer:
Is a person or corporate body that has some sort of
account wit the bank be it current, saving or deposit.
Bailee
Person (bank) who received property with the bank
for a period of time.
Bailor:
Person (customers) who keeps property with the bank
for a period of time
Bankruptcy:
(Person) who has been declare by a court not to be capable
of paying his debt and who’s his affairs is in the hand.
Call
over:
This is a means of checking the accuracy of item
entered in various account by calling from the voucher to the entry by two
person other them the ledger keeper.
Clearing:
This process of collecting proceeds of cheques by
presenting to the drawee banker branch of cheques drawn on them which are
received by the bank clearing the days business this presentation is normally
in the clearing house at the central bank.
Collection
Banker:
A banker who
received cheques drawn on other banks or branches and collects the proceeds for
credit of the customer account.
Advance:
This is overdrafts of loan granted to customer the
department dealing with the lending of money is called the advance department.
Collateral: These are assets, good and property of
all kinds of an individual given as a seeming for a loan to be given.
Bearer:
The person in possession of a bill of cheques
payable to him.
Cross
cheques:
These are two parallel trans verse lines across the
face of a cheques to ensure safe transmission of the money from sender to
received
Drawer:
It is a person who signs a cheques or bill of
exchanges.
Drawee:
This is a
bank on which a cheques is drawn on the person to whom a bill of exchange is
addressed.
Dormant
Account:
Is an account that
has not been operated for some time normally a year.
Treasury:
It is a safe or strong room where cash and valuable
of a bank are kept.
Proof:
This is a record kept daily of all transaction
passed over any account and also means of checking the accuracy of figures.
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