Current Status of Using Deposit Services of Individual Customers at Branches

2.2.2. Current status of deposit service usage by individual customers at the Branch

NHNN&PTNT Phu Vang district

In terms of time customers use deposit services at the Phu Vang District Branch of the State Bank of Vietnam

(SPSS processing source)

Chart 5. Time structure of customers using deposit services at the Phu Vang District Branch of the State Bank of Vietnam

Among the 160 surveyed customers, the largest proportion of customers who have used the deposit service for over 2 years is 32.5%, equivalent to 52 customers; from 1 to 2 years is 17.5%, equivalent to 28 customers; from 6 to 12 months is 26.2%, equivalent to 42 customers; and under 6 months is 23.8%, equivalent to 38 customers. The results show that the Phu Vang District Branch of the State Bank of Vietnam has a large number of long-term customers, and recently the number of new customers coming to deposit money at the bank has also increased significantly, proving that the bank is developing its business and its capital mobilization is operating effectively.

Source of information customers know about the State Bank of Vietnam and Rural Development Branch in Phu Vang district

(SPSS processing source)

Figure 6. Proportion of influential information sources

According to the survey data, the majority of interviewed customers, 67.5%, or 108 customers, know about the Phu Vang District Branch of the State Bank of Vietnam through friends, relatives and colleagues. This is a fairly effective source of information that most customers trust because they are introduced by their relatives who have used the bank's deposit services. This proves that this is an extremely useful information channel, it has a wide spread and attracts the majority of customers to the bank. In addition, customers who know the bank through television, newspapers, radio, and the internet are 78 people, accounting for 48.8%. This is a form in which the bank has quite successfully influenced customers. However, with the form of awareness about the bank through the introduction sessions of the Phu Vang District State Bank of Vietnam Branch to customers, only 13.1% of customers, only 17.5% of customers are influenced by banners, posters, leaflets and 3.8% through other information sources. Thus, through the survey data, it can be seen that the information factor from friends, relatives, colleagues and information channels from newspapers, radio, internet and television have a great influence on the behavior of using deposit services at the Phu Vang District State Bank of Vietnam Branch of customers.

This helps the bank attract more investment from customers and focus on investing and expanding these information channels. At the same time, the Phu Vang District Branch of the State Bank of Vietnam needs to pay more attention to investing in information sources from the Bank's introduction sessions and banners, posters, and leaflets to be increasingly recognized by customers.

Banks are used by customers for pre-deposit services.

money at the branch of the State Bank of Vietnam and the People's Committee of Phu Vang district

(SPSS processing source)

Chart 7. Percentage of Banks with customers using deposit services before

Deposit money at the State Bank of Vietnam and Rural Development Branch in Phu Vang district

Through the chart, we can see that the number of customers who only deposit money at NNTN&PTNT accounts for the highest proportion of 49.4%, which is consistent with the characteristics of the sample through the customer survey of the NHNN&PTNT branch in Phu Vang district, which is a long-term customer with the bank. At the same time, there is a large number of customers who have used the services of other banks and now NNTN&PTNT is the place chosen by these customers to deposit money. Of which, 9.4% of customers have used deposit services at BIDV, 8.8% of customers have deposited money at Vietcombank, 6.9% of customers have deposited money at ACB, 10% of customers have deposited money at Vietinbank, 6.9% of customers have deposited money at DongABank, 1.9% of customers have deposited money at Techcombank, 4.4% of customers have deposited money at MB, 3.1% of customers have deposited money at Sacombank and 6.9% of customers have

using deposit services at other banks. This proves that NNTN&PTNT is increasingly trusted by a large number of customers who deposit money here.

Other services of the Phu Vang District Branch of the State Bank of Vietnam are

customers using other than deposit services

(SPSS processing source)

Chart 8. Proportion of services used by customers other than deposit services

The chart shows that in the total number of surveyed samples, 33.1% of customers only use the deposit service at the bank, 40.6% of customers in addition to using the deposit service also use the bank's money transfer service, showing that the demand for money transfer and money transfer of customers in Phu Vang district is also quite high. The rate of customers using the bank's loan service is also quite high at 25.0%, this is also easy to understand because the district's State Bank of Vietnam

Phu Vang always helps and supports people in this area to borrow capital to do business, making Phu Vang district more and more developed. In addition, card payment services also account for 16.2%, showing that people in Phu Vang district have access to modern technology, convenient for managing and using their money.

Reasons for using customer deposit services

(SPSS processing source)

Chart 9. Reasons why customers use deposit services

Looking at the chart, we can see that the main reasons why customers choose to use deposit services at banks are to enjoy high interest rates, to save for future plans, to stabilize family finances, to make payments, to transfer money, to avoid risks when leaving money at home, and to ensure the safety of assets. It is understandable why these are the reasons why customers choose to use deposit services at banks because depositing money is also a form of investment that is safer and less risky than other forms.

2.2.3. Exploratory factor analysis EFA

2.2.3.1. Exploratory factor analysis EFA of independent variables

When doing exploratory factor analysis, researchers are often interested in a

The standard numbers are as follows:

- KMO coefficient (Kaiser – Meyer - Olkin)  0.5, significance level of Bartlett test ≤ 0.05

- Factor loading  0.5.

- Total variance extracted  50%.

- Eigenvalue coefficient has a value greater than 1.

- The difference in factor loading coefficients of an observed variable between factors is  0.3 to ensure discriminant value between factors.

KMO is an index used to examine the appropriateness of EFA, 0.5≤KMO≤ 1 then factor analysis is appropriate. Bartlett test considers the hypothesis H 0 : the correlation between observed variables is zero in the population. If this test is statistically significant (Sig ≤ 0.05) then the observed variables are correlated with each other in the population (Trong & Ngoc, 2005)

Table 7. KMO and Bartlett test after EFA of independent variables

KMO and Bartlett's Test

Kaiser-Meyer-Olkin Measure of Sampling Adequacy.		.785
Bartlett's Test of Sphericity	Approx. Chi-Square	3.979E3
	df	351
	Sig.	.000

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(SPSS processing source) The Kaiser – Meyer – Olkin test result gives a value of 0.785, which is within the allowable range. This result proves that the sample is large enough and qualified for factor analysis. In addition, the Bartlett test gives a smaller significance level.

0.05 so that the results obtained in factor analysis can be used.

The above KMO & Bartlett test results allow us to perform the first factor analysis with 27 variables. The results of the EFA exploratory factor analysis are given in the table below:

Table 8. Rotated EFA factor matrix of independent variables

Status

Observation variable					Factor
Observation variable					1	2	3	4	5	6
1	Transaction process simple, fast, convenient					0.846
2	Agribank deposit services Phu Vang suits your needs					0.822
3	Transactions are made Exactly					0.790
4	Agribank deposit services Phu Vang has many terms. abundant					0.760
5	Reasonable transaction costs					0.719
6	Are not	space	deliver	pandemic	belong to	0.694

Agribank Phu Vang comfortable, comfortable
7	I can easily find information about Agribank Phu Vang's deposit services on the websites. media	0.682
8	Facilities and equipment Agribank Phu transaction Good wine, modern	0.612
9	Agribank banking system have wide trading points everywhere, convenient for travel	0.532
10	Agribank is a bank operating long-term		0.818
11	Agribank Phu Vang implemented true commitment to customers		0.804
12	Reputation of Agribank Phu Vang help me feel secure when sending money		0.801
13	Agribank Phu Vang resolved quick complaints		0.756
14	Agribank Phu Vang security good customer information		0.688
15	Friends and colleagues advised me to deposit money at Agribank Phu Echoing			0.862
16	Agribank consultant Phu Vang recommends me to deposit money here.			0.768
17	My family members want me to send money. at Agribank Phu Vang			0.661
18	Agribank Phu Vang staff are good at consulting and answering questions. full and clear questions				0.847
19	Agribank Phu Vang staff have a very professional working style. professional				0.765
20	Agribank Phu Vang staff				0.672

very enthusiastic, friendly, polite
21	Agribank Phu Vang has many attractive promotions. guide	0.821
22	Agribank Phu Vang has many customer incentives	0.625
23	Agribank Phu Vang has a customer care program. important occasions	0.610
24	Deposit interest rate of Agribank Phu Vang is very stable		0.713
25	How to calculate deposit interest Agribank Phu Vang is very clear and accurate.		0.618
26	Agribank Phu Vang pays interest send on time		0.600
27	Agribank Phu Vang's deposit interest rates are very reasonable and optimal, creating effective profits. fruit		0.594

(SPSS processing source)

Compare with the criteria set for the results of factor rotation. After rotating the factors, there are no eliminated variables, we see the concentration of observations according to each factor quite clearly. The analysis results table shows that there are 6 factors created with Eigenvalues greater than 1 with 27 variables. The extracted variance value is 74.967, satisfying the requirements of factor analysis. This number shows that 6 factors explain 74.967% of the variation of observed variables. This ratio is relatively high in factor analysis.

2.2.3.2. EFA factor analysis of dependent variable

Table 9. KMO and Bartlett test after EFA of dependent variable

KMO and Bartlett's Test