LIST OF TABLES
Table 1.1: Five quality gaps 19
Table 1.2: Summary table of coded scales 29
Table 2.1: GP. Bank's business results in the period 2008 - 2012 38
Table 2.2: Business performance results of GP. Bank Vung Tau branch in 2008
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-2012................................................... ................................................................ .............................................. 40
Table 2.3: Profits classified by type of operation of GP.Bank Vung Tau branch in the period 2008 -2012 41
Table 2.4: Capital mobilization by customer type of GP.Bank Vung Tau branch in the period 2008 -2012 42
Table 2.5: Lending situation by customer type of GP.Bank Vung Tau branch in the period 2008 -2012 43
Table 2.6: Credit quality of GP. Bank Vung Tau branch 44
period 2008-2012 44
Table 2.7: Bad debt ratio by customer type of GP.Bank Vung Tau branch in the period 2008 -2012 45
Table 3.1: Sample by age 49
Table 3.2: Sample by occupation 51
Table 3.3: Sample by channel 53
Table 3.4: Sample by service used 55
Table 3.5: Results of reliability analysis 56
Table 3.6: Customer satisfaction with reliability 58
Table 3.7: Customer satisfaction with feedback 59
Table 3.8: Customer satisfaction with tangibles 61
Table 3.9: Customer satisfaction with warranty 63
Table 3.10: Customer satisfaction with empathy 64
Table 3.11: Customer satisfaction with corporate image 66
Table 3.12: Customer satisfaction with service prices 67
Table 3.13: Satisfaction 69
Table 3.14: Results of simple linear regression 70
Table 3.15: Results of hypothesis testing 75
Table 3.16: Results of multiple linear regression analysis 75
CHART LIST
Chart 2.1: GP.Bank's business performance in the period 2008 -2012 39
Chart 2.2: Business performance results of GP. Bank Vung Tau branch 40
period 2008 -2012 40
Chart 2.3: Capital mobilization ratio by customer type of GP.Bank Vung Tau branch in the period 2008 -2012 42
Chart 2.4: Proportion of outstanding loans by customer type of GP.Bank Vung Tau branch in the period 2008 -2012 43
Chart 2.5: Outstanding loans and bad debt ratio of GP.Bank Vung Tau branch in the period 2008 -2012 45
Chart 3.1: Sample proportion by age 49
Chart 3.2: Sample proportion by gender 50
Table 3.2: Sample by occupation 51
Chart 3.3: Sample proportion by occupation 51
Chart 3.4: Sample proportion by income 52
Figure 3.5: Number of samples by channel 53
Chart 3.6: Sample proportion by service usage time 54
Figure 3.7: Number of samples by service used 55
Figure 3.8: Proportion of customer satisfaction to trust 58
Chart 3.9: Customer satisfaction ratio for feedback 60
Figure 3.10: Customer satisfaction ratio for tangibles 62
Figure 3.11: Customer satisfaction ratio for guarantee 63
Figure 3.12: Proportion of customer satisfaction to empathy 65
Chart 3.13: Percentage of customer satisfaction with corporate image 66
Chart 3.14: Percentage of customer satisfaction with service price 68
Chart 3.15: Satisfaction rate 69
LIST OF DRAWINGS
Figure 1.1: Five quality gaps model 19
Figure 1.2: Parasuraman's service quality model (1985, 1998) 22
Figure 1.3: Model of the relationship between image, expected service and satisfaction 25
Figure 1.4: Servqual customer satisfaction research model 27
Figure 1.5: Research model of individual customer satisfaction with lending services 28
Figure 2.1: Organizational structure chart of GP.Bank Vung Tau branch 35
Figure 3.1: Research implementation process 47
Figure 3.2: Model of individual customer satisfaction research results 79
INTRODUCTION
1. Reason for choosing the topic
Currently, the trend of globalization and international and regional economic integration is taking place strongly. In Vietnam, since becoming an official member of the WTO, the banking industry has become one of the leading industries, attracting special attention from domestic and foreign investors. Along with the development of science and technology, in the banking sector, there has been fierce competition between state-owned banks, joint-stock commercial banks and foreign banks providing services in the banking and financial market.
In such a fiercely competitive environment, customers are the decisive factor for the existence of a bank. Any bank that gains the attention and loyalty of its customers will win and develop. Customer-oriented business strategy is becoming a business strategy of utmost importance. Cooperating with customers in business, attracting new customers, and strengthening existing customers is becoming an effective business tool. In particular, maintaining existing customers with a small amount of cost but bringing high business efficiency. Thus, how to bring customers the best satisfaction is always an issue that banks must try to implement with all their capabilities.
Moreover, customer satisfaction will help to create loyal customers which is very necessary to maintain the regular operation of the bank. However, in competition, creating loyal customers from the bank does not guarantee that the customer will stay with the bank for a long time, so the bank needs to care for and take care of customers regularly. This means that the responsibility for developing and maintaining relationships with customers and making customers satisfied belongs to the bank. The bank needs to be proactive in maintaining and developing this relationship by various measures such as constantly surveying customer opinions, providing maximum customer support, etc.
Therefore, researching customer satisfaction with banks is an important task that must be done regularly and continuously to be able to respond promptly to changes in their needs so that we can serve customers better and make customers always satisfied when using the bank's services and products.
The topic " Analysis and proposal of solutions to improve individual customer satisfaction with lending services of Global Petroleum Joint Stock Commercial Bank (GP. Bank), Vung Tau branch " is carried out to bring customer satisfaction and contribute to the development of GP. Bank in the future.
2. Research objectives
Based on the operational situation and development strategy of GP. Bank, the research topic is carried out with the following objectives:
- Build a research model to measure customer satisfaction based on understanding the factors affecting customer satisfaction.
- Assess customer satisfaction with bank lending services
- Propose some measures to improve customer satisfaction with bank lending services.
3. Research object and scope
The research object is the group of individual customers (retail customers) using lending services. Therefore, corporate customers and financial institutions are not the research object of this article.
In recent years, joint stock commercial banks have set the goal of becoming a large retail bank. For retail banks, their main service target is individuals, households, and small and medium-sized enterprises. This is no exception for GP. Bank. However, with a long-term strategic orientation, GP. Bank targets individual customers for the following reasons.
Firstly, individual customers are a group of customers that account for a large proportion of the number and are also the potential customers of the bank. As of the end of 2012, the number of individual customers using products and services at GP. Bank accounted for 89% compared to the number of institutional customers. It is forecasted that the number of individual customers of the bank not only accounts for a high proportion but also continuously increases in number. According to the results of the 2009 population census, Vietnam has 85.8 million people, which is expected to increase by about 1 million people each year (baomoi.com (2009)), but it is estimated that there are only
About 20% of the population opens bank accounts, mainly concentrated in big cities (vneconomy(2012)). At the same time, according to Ms. Karylyn Seet, Moddy's analyst, "The growth rate of retail banking in Vietnam can reach 30% to 40% in the coming years" (cafef.vn(2012)). Therefore, the potential for developing retail banking services focusing mainly on individual customers of GP. Bank is very large.
Second, personal customer service brings capital safety to the bank, so the risk is lower than that of institutional customer service. Originating from the need for safety in banking operations, in the past, wholesale banks focused on target customers which are large capital organizations, mainly large enterprises, state-owned companies, projects... There have been high risks of capital loss due to ineffective resource management and the impact of economic recession. Meanwhile, the personal customer segment is the main customer segment in the development orientation of retail banking. "It is a field that brings high revenue, stable development and low risk" (According to Mr. Thomas Tobin, General Director of HSBC Vietnam).
Third, individual customers have a very large and regular demand for financial support and utility services, so they are a group of customers who regularly transact with banks. Therefore, when deploying services for individual customers, the feasibility is high, and at the same time, the individual customer group also brings a lot of profit to the bank due to the large and regular transaction frequency.
Fourth, the development of modern technical infrastructure, especially information technology, is an important prerequisite for storing and processing centralized databases. Currently, GP. Bank has provided many convenient services to meet the increasing transaction needs of individual customers. GP. Bank has successfully developed the core banking system software T24 (Core Banking) of the Swiss company Temenos, with the ability to process 10,000 transactions/second. Along with the development of the Internet, it has brought to individual customers new services such as Internet Banking, My Style payment transaction support service, electronic lending service, etc.
Fifth , GP Bank is a small and medium-sized commercial bank due to its capital, total assets, branch system, credit balance, etc. compared to its competitors, other banks in the Vietnamese banking market. Therefore, choosing
Targeting individual customers is an effective solution for the future development of the bank.
Along with the increase in the number of individual customers, banks have gradually developed accompanying services to serve this group of customers. The services are increasingly diverse and rich such as: lending services, payment services, credit services... But lending services are still the main service that contributes the majority of profits to the bank, promoting the development of other services.
For the above reasons, the author chose the research object as individual customers using loan services and the research scope of the thesis was conducted at GP. Bank Vung Tau branch.
4. Research methods
To carry out the research purpose, the thesis mainly uses quantitative research methods .
The data used for quantitative analysis are primary and secondary data. Primary data is collected by sampling survey method, used by the author to test the research hypothesis and research model using SPSS software. Secondary data is collected from annual reports of GP. Bank, activity reports, information disclosures, statistical agencies, annual reports of the State Bank and some commercial banks, specialized magazines in economics, finance and banking... and processed information on the current status of loan service development for individual customers at GP. Bank.
5. Structure of the thesis
In addition to the introduction, conclusion, table of contents, appendix and references, the content of the research thesis is divided into 4 chapters with specific contents as follows:
Chapter 1 – Theoretical basis of customer satisfaction with commercial bank lending services
Chapter 2 – Introduction to GP. Bank Vung Tau branch
Chapter 3 – Analysis of individual customer satisfaction with lending services of GP.Bank Vung Tau branch
Chapter 4 – Solutions to improve individual customer satisfaction with lending services of GP.Bank Vung Tau branch