MINISTRY OF EDUCATION AND TRAINING
HO CHI MINH CITY UNIVERSITY OF ECONOMICS
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BAMBOO PIPING
FACTORS AFFECTING THE DECISION OF CUSTOMERS SAVING MONEY AT COMMERCIAL BANKS
ASIA JOINT STOCK COMPANY
Major: Finance - Banking Code: 60340201
MASTER'S THESIS IN ECONOMICS
SCIENCE GUIDE
Dr. Nguyen Thanh Phong
Ho Chi Minh City - 2013
COMMITMENT
I hereby declare: Thesis "Factors affecting the decision of customers depositing savings at Asia Commercial Joint Stock Bank "
is my own research work.
The data in the thesis is used honestly. The data has cited sources, the results in the thesis are honest and have not been published in other research works.
Ho Chi Minh City, October 21, 2013
Thesis author
INDEX
COVER PAGE STATEMENT OF GUARANTEE TABLE OF CONTENTS
LIST OF ABBREVIATIONS
LIST OF TABLES
LIST OF FIGURES AND CHARTS
INTRODUCTION 1
1. The necessity of topic 1
2. Research objective 2
3. Research object and scope 2
4. Research method of topic 2
CHAPTER 1: THEORETICAL BASIS OF SAVINGS DECISION
CUSTOMERS AT COMMERCIAL BANK 3
1.1 Overview of savings deposits 3
1.1.1 Concept of savings deposits 3
1.1.2 Characteristics of savings deposits 3
1.1.3 The role of savings deposits 3
1.1.4 Classification of savings deposits 5
1.1.5 Criteria for evaluating savings deposits 6
1.2 Theoretical basis of factors affecting savings decisions
Customer 9
1.2.1 Customer's decision-making process for depositing savings 9
1.2.2 Factors affecting customers' savings decisions 13
1.3 Previous studies on factors influencing the decision to deposit money
Customer savings 20
1.3.1 Foreign studies 20
1.3.2 Domestic studies 21
1.4 Model to measure the influence of factors on the decision to deposit money
Customer Savings 23
1.4.1 Parasuraman & associates' 5-component service quality model and SERVQUAL scale 23
1.4.2 Research hypotheses 24
1.4.3 Research model 25
CHAPTER 1 CONCLUSION 26
CHAPTER 2: ANALYSIS OF FACTORS AFFECTING THE DECISION TO DEPOSIT SAVINGS OF INDIVIDUAL CUSTOMERS AT ASIA COMMERCIAL JOINT STOCK BANK 27
2.1 Introduction to Asia Commercial Joint Stock Bank 27
2.1.1 History of formation and development process 27
2.1.2 Business performance of the bank 30
2.2 Current status of savings deposits at Asia Commercial Joint Stock Bank 33
2.2.1 Policy on mobilizing savings deposits at joint stock commercial banks
Asia 33
2.2.2 Savings deposit mobilization products at ACB 34
2.2.3 Factors affecting customers' decision to deposit savings at ACB
................................................................ ................................................................ .....................38
2.3 Testing factors affecting the decision to deposit savings 43
2.3.1 Research process 43
2.3.2 Data collection method and sample size 43
2.3.3 Data analysis method 44
2.4 Preliminary research and scale construction 45
2.4.1 Bank brand scale 46
2.4.2 Savings interest rate scale 47
2.4.3 Distribution channel scale 47
2.4.4 Service quality scale 47
2.4.5 After-sales policy scale 47
2.4.6 Savings decision scale 48
2.5 Research results 48
2.5.1 Scale validation by Cronbach Alpha coefficient analysis 52
2.5.2 Exploratory factor analysis EFA 56
2.5.3 Testing the multiple linear regression model 62
CHAPTER 2 CONCLUSION 70
CHAPTER 3: SOLUTIONS TO IMPACT CUSTOMERS' DECISION TO DEPOSIT SAVINGS AT ASIA COMMERCIAL JOINT STOCK BANK 71
3.1 ACB's strategic development orientation 71
3.2 Solutions affecting customers' decisions to deposit savings at ACB 73
CHAPTER 3 CONCLUSION 79
CONCLUSION 80
REFERENCES
APPENDIX
LIST OF ABBREVIATIONS
Abbreviations
English | Vietnamese | |
ACB | Asia Commercial Bank | Asia Commercial Joint Stock Bank Chau |
ATM | Automated teller machine | Automated Teller Machine |
ACB online | ACB's e-banking services | |
BIDV | JointStock Commercial Bank for Investment and Development of Vietnam | Joint Stock Commercial Bank for Investment and Development of Vietnam |
Unit | Unit of measure | |
Eximbank | Export-Import Joint Stock Commercial Bank Vietnam import | |
EUR | Euro | |
HSBC | Hongkong and ShanghaiBanking Corporation | One Limited Liability Bank HSBC member (Vietnam) |
PGD | Transaction office | |
MB | Military Bank | Joint Stock Commercial Bank Army |
State Bank of Vietnam | State Bank | |
Commercial Bank | Commercial Bank | |
Joint Stock Commercial Bank | Joint Stock Commercial Bank | |
Sacombank | Saigon Thuong Tin Commercial Joint Stock Bank | Saigon Thuong Tin Commercial Joint Stock Bank |
HCMC | Ho Chi Minh City | |
USD | US Dollar |
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VIP
Very Important Person | Important, high-ranking people enjoy privileges that others do not. Not available | |
VCB/Vietcom bank | Joint stock commercial Bankfor Foreign Trade of Vietnam | Joint Stock Commercial Bank Vietnam Foreign Trade |
VND | Vietnamese Dong |
LIST OF TABLES
Table 2.1: Business performance from 2009 – 2012 30
Table 2.2: Total outstanding credit from 2009 – 2012 31
Table 2.3: Customer deposits at ACB from 2009 – 2012 32
Table 2.4: ACB's total assets from 2009 - 2012 32
Table 2.5: Customer savings deposits by term at ACB from 2009 -2012 36
Table 2.6: Statistics of customers' savings deposits according to VND converted balance
at ACB from 2009 – 2012 36
Table 2.7: Comparison of savings deposit products of ACB, VCB and STB 37
Table 2.8: Interest rates on VND savings deposits with interest paid at the end of the term of banks 39
Table 2.9: Interest rates on USD savings deposits with interest paid at the end of the term of banks 40
Table 2.10: Statistics on the number of customers saving at ACB from 2009 - 2012 42
Table 2.11: Sample characteristics 48
Table 2.12: Survey results on why customers save 50
Table 2.13: Results of customer information search survey 51
Table 2.14: Results of testing the Bank Brand scale 52
Table 2.15: Results of testing the Interest Rate scale 52
Table 2.16: Results of scale testing Distribution channel 53
Table 2.17: Results of testing the Distribution Channel scale after removing the variable KPP4 54
Table 2.18: Test results of the scale Service quality 54
Table 2.19: Results of testing the After-Sales Program scale 55
Table 2.20: Results of testing the Savings Decision scale 55
Table 2.21: Results of factor analysis of the scale of factors affecting the decision to send
Customer savings 57
Table 2.22: Factors affecting the decision to deposit savings after EFA analysis
................................................................ ................................................................ ................................... 59
Table 2.23: Results of analysis of factors determining customers' savings deposits 60
Table 2.24: Correlation coefficient matrix 62
Table 2.25: Adjusted R 2 evaluation results 63
Table 2.26: Model fit test table 64
Table 2.27: Regression results using the Enter 64 method
Table 2.28: Results of testing hypotheses 66
Table 2.29: Results of Anova analysis 67
Table 2.30: Statistics on customers' future savings decisions 68