Descriptive Statistics of Observed Variables Tangible Media Factor

According to the survey, customers rated very well the neat and professional appearance of VCB staff (TAN3, Mean 4.14). Therefore, the image of VCB has become very familiar to customers with the image of a modern and professional bank (TAN4, Mean 4.11).

Table 2.26 Descriptive statistics of observed variables of tangible media factor

Overview

Medium

Deviation

standard

RES4- VCB staff have sufficient knowledge and capacity to answer specific questions and requests.

customer's body

303

3.86

0.629

TAN3- VCB staff are neat and professional

career

303

4.14

0.660

TAN4- Familiar VCB image

client.

303

4.11

0.728

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2.6.3 Current status of assurance

According to the research results, customers feel safe when transacting with VCB (ASS2, Mean 3.77). This shows that in customer perception, VCB is a bank that always brings comfort and maximum safety when transacting. When transacting at VCB, customers must present necessary documents to accurately verify their identity. Although this can sometimes cause inconvenience to customers, it is all for the purpose of ensuring customer safety in each transaction, creating peace of mind for customers. However, once again, customers do not highly appreciate the attention VCB staff pay to solving customer problems (REL2, Mean 3.75). This is an important thing that VCB needs to pay attention to in order to find a solution.

Table 2.27 Descriptive statistics of observed variables of assurance factor

Overview

Medium

Standard deviation

ASS2- You feel safe when communicating

Translate with VCB

303

3.77

0.677

REL2- VCB staff care about

solving customer problems

303

3.75

0.725

2.6.4 Current status of response capacity

According to the survey results, customers have good evaluations of responsiveness although this is a component that does not have much influence on the quality of service perceived by customers. In which, customers highly appreciate VCB providing services at the right time as promised to customers (REL4, Mean 3.8) and VCB staff having enough knowledge to answer customers' questions (ASS4, Mean 3.79). This proves that VCB staff always improve their knowledge, skills, and expertise to be able to meet customers' requirements quickly and accurately.

Table 2.28 Descriptive statistics of observed variables of responsiveness factor

Overview

Medium

Standard deviation

ASS4- VCB staff have enough knowledge to

answer customer questions

303

3.79

0.609

REL4- VCB provides services at the right place

time as promised to customers

303

3.80

0.605

CONCLUSION OF CHAPTER 2

In this chapter, the author has presented the research method and research process for the thesis. At the same time, it also presented how to design a survey table according to the Likert scale for observed variables, determined the number of samples and the method of conducting the survey. Then, processing the data using SPSS software, the author has found and analyzed the factors affecting the quality of banking services. Accordingly, the reliability component has the strongest impact on the quality of service perceived by customers (25.5%), the second is the tangible means component (24.1%), the third is the responsiveness component (19.4%), and finally the assurance component (18.9%). In addition, chapter 2 also pointed out the current situation of VCB, which factors customers appreciate the most, which factors they do not appreciate the most, so that solutions can be proposed in chapter 3.

CHAPTER 3

SOLUTIONS TO IMPROVE THE QUALITY OF BANKING SERVICES FOR INDIVIDUAL CUSTOMERS AT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

3.1 Development orientation in the future and specifically in 2014

Based on the results achieved in recent years, Vietcombank has identified the period 2013 - 2018 as a new period with many breakthroughs in development. In which, the basic foundation is to promote all advantages, seize all opportunities, be flexible, sensitive and decisive in all aspects to continue to promote growth in all aspects of the bank's operations, ensure safety, efficiency and sustainable development. In the next 5 years, the total asset growth rate is expected to be at 9-12%/year, credit growth and capital mobilization at about 12-16%, the bad debt ratio controlled below 3%, ROE at about 12-15% and the capital safety ratio CAR at about 10-12%.

 In which, Vietcombank aims to be a modern multi-functional financial banking group model, along with enhancing management and business capacity;

 Develop the trading network in breadth and depth, gradually expanding the network of operations to the international market.

 Boost credit growth while controlling credit quality; Actively handle outstanding debts, strictly control bad debt ratio.

 Flexibility in capital mobilization to ensure optimal efficiency.

 Diversify capital mobilization channels as well as domestic credit provision, expand customer network to small and medium enterprises and individual customers in addition to retaining traditional customers, be ready and proactive in accessing international capital markets when conditions are favorable;

 Diversify products and services, gradually increase the proportion of income from services in the total income structure.

 Consolidate market share in traditional banking services such as payment services and card services.

In particular, continue to improve the risk management apparatus by enhancing the operational efficiency of all levels in the apparatus as well as the coordination efficiency between departments. Gradually enhance the role of the inspection, control, and internal audit apparatus as well as enhance risk management capacity through the overall implementation of solutions, focusing on completing risk measurement and management models in banking operations. Complete the development of a unified and advanced system of risk management policies and tools. Enhance the risk management culture. Ensure safety coefficients according to the regulations of the State Bank and gradually approach international practices. Improve the quality of human resources, considering this a key step for innovation and breakthroughs. Strengthen training, retraining of staff, innovation in recruitment, planning, and appointment of staff. Ensure publicity, transparency, and placement of the right people in the right jobs. Enhance rotation for management positions at all levels. Perfecting salary and bonus policies based on employees' abilities and contributions, motivating Vietcombank staff to continue to work together for the bank's development.

Specifically, the world economy in 2014 is forecast to show no positive signs and will continue to have many complicated developments. Vietnam's economy in 2014 will still be affected by the remaining problems of 2013. GDP growth is forecast at 5.6% - 5.8%, inflation at 7.2%.

Based on the analysis of the business environment, closely following the direction of the Government and the State Bank, VCB has determined that VCB's motto is "Innovation - Standards - Safety - Efficiency", and its guiding viewpoint is: "Agile, Flexible, Decisive". VCB's guiding direction in 2014 is: Closely following VCB's Business Strategy for the period 2011 - 2020, in addition to the traditional wholesale sector, further promoting retail activities, promoting all advantages, continuing to develop in depth, focusing on quality and substance, aiming for sustainable development. The main development directions in some areas are as follows:

3.1.1 Maintain stability of mobilized capital

 Focus on mobilizing capital from the population and consider this a stable and sustainable source of capital for the bank.

 Research solutions to attract foreign currency capital.

 Strengthen customer care, effectively monitor and maintain customers with large deposit balances. Expand customer base to stabilize and increase mobilized capital.

 Comply with the State Bank's regulations on interest rates. Research and apply appropriate internal interest rate policies.

3.1.2 Promoting credit growth goes hand in hand with controlling credit quality

 Continue to control growth of short-term, medium-term and long-term debt; foreign currency debt

- VND. Implement preferential loan packages for good customers. Focus on preferential loans for priority sectors and areas according to the Government's orientation.

 Focus on credit growth on good customer portfolio; build a management list and develop a portfolio of target/potential customers for the entire system; build pricing policies by industry/location/each customer.

 Identifying the development of individual credit as one of the retail activities to create sustainable development of VCB. Designing credit product packages in line with the policy of stimulating consumption. Designing new and continuing to standardize real estate and production and business products. Cooperating with the wholesale sector to develop retail credit.

3.1.3 Increase card business market share

 Promote online payment activities

 Consulting and providing specific plans to attract customers to make card transactions at VCB.

 Strengthen risk management with flexible, diverse and timely policies and measures to ensure security and safety for customers and the bank.

3.1.4 Deploying technology projects to improve VCB's management capacity

 Continue to deploy the Core Banking system and data management and analysis tools; deploy instructions, access authorization, trade finance system and other systems serving VCB business operations.

3.1.5 Promote communication and social work activities

 Support and actively participate in social security work.

 Promote traditional activities, promote activities, products and services to make VCB's image familiar to the public.

3.2 Some solutions to improve service quality for individual customers at Vietcombank

After analyzing and evaluating the service quality of VCB, the author has the results of evaluating the quality of service perceived by customers for VCB services, and at the same time knows which service quality components have the most important influence on the quality of service perceived by customers. The solutions are proposed to consolidate the results achieved, the factors that have been highly appreciated by customers and overcome the factors that have not been well appreciated by customers. The following are some proposed solutions.

3.2.1 Strengthening customer trust

This is the criterion that customers rate the highest in terms of service quality at Vietcombank. Therefore, it is necessary to further promote existing advantages to strengthen customer trust.

 It is necessary to further improve human factors in terms of capacity, qualifications, and professional expertise so that Vietcombank employees are always fully equipped with working skills, minimizing errors when processing transactions to create trust in customers.

 Fix system and machine errors, apply modern information technology to transaction processing to minimize risks when making transactions, so that customers can feel more secure.

 Arrange staff adequately and reasonably to be able to serve customers in the best way. Avoid the situation where one staff has to serve many customers at the same time, leading to difficulty in fulfilling all customer requests, causing loss of customer confidence.

3.2.2 Investment in tangible means

 VCB uniforms are considered quite beautiful, neat, and the staff's style is professional. Because a good image has been built, the professional style and beautiful uniforms of the staff need to be maintained and promoted. At the same time, there should be more frequent inspections to avoid the situation where the staff is not careful in their style and appearance.

 Product and service advertising leaflets need to highlight the benefits of using the service, always update new services, and design attractive leaflets for readers. Create opportunities for customers to access the benefits of banking services. At the same time, it is necessary to promote Vietcombank's image in the media, especially when Vietcombank has just changed its new brand identity system, the promotion needs to be more widespread and stronger than ever so that customers are always aware of Vietcombank's image.

 Regularly organize inspections and reviews of machinery, equipment and technology systems. Replace old ones that are no longer usable, as well as check cable lines on a daily basis to ensure that customer transactions are continuous and uninterrupted.

3.2.3 Improve customer responsiveness

 VCB staff are assessed as having sufficient knowledge and capacity to answer questions and specific requests of customers. This needs to be reinforced through the following methods:

 Build a professional recruitment process, offer attractive remuneration policies to attract talented people. VCB needs to select talented and agile employees to build a professional and synchronous staff.

 Organize professional training courses for new employees, assign VCB representatives who are competent and experienced to support new employees to be able to handle business accurately, respond to customer requests as quickly as possible. In addition, it is necessary to organize training sessions on customer communication skills to create for VCB employees ways to satisfy customers, always make customers feel comfortable and pleasant when transacting.

 VCB needs to build a consistent, transparent, and quick response process for customer inquiries and complaints. Some principles that bank employees should apply when receiving customer inquiries and complaints are: the principle of respecting customers; the principle of knowing how to listen effectively and how to speak; the principle of building trust and maintaining long-term relationships with customers...

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