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Product Category: Projects
Product Code: 00000412
No of Pages: 87
No of Chapters: 5
File Format: Microsoft Word
Price :
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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
TABLE OF CONTENTS
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
This
types of banking into not begin until the sixteenth century. Italian goldsmiths
working in
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
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
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,
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
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
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
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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