INTRODUCTION
Rational of the study
The banking sector is crucial for economic development globally, and Vietnam is no exception In recent years, Vietnam's banking industry has experienced significant growth alongside the country's socioeconomic progress Numerous banks have emerged or expanded their operations by opening branches nationwide and introducing new services to meet customer needs Retail banking in Vietnam is particularly appealing to both domestic and foreign banks, as the market remains underexploited, presenting ample opportunities for growth.
With a population of 86 million, Vietnam is witnessing a rising demand for retail banking services, driven by increasing incomes and economic growth, particularly since joining the WTO This presents both opportunities and challenges for Vietnamese bankers to attract new customers and retain existing ones, as a larger customer base directly correlates to higher profits for banks.
Prioritizing customer satisfaction is essential for a firm's success in today's competitive business landscape It plays a crucial role in retaining existing clients and attracting new ones, making it a top priority for bankers and businesses alike.
The retail banking industry is experiencing intense competition from both domestic and foreign banks due to globalization and world integration To thrive and maintain their market position, banks must prioritize customer satisfaction.
Statement of the problem
Domestic banks have long acknowledged the significance of enhancing retail banking services To attract more customers, they have invested in advanced core banking software, embraced innovative technologies, expanded their branch networks, and introduced a variety of new services.
In today's competitive landscape, banks face challenges in differentiating their products due to the proliferation of distribution channels and the rapid imitation of new services by competitors As a result, customer satisfaction has emerged as a crucial strategy for banks to gain a competitive edge in the market.
Customer satisfaction significantly influences repeat usage of services, as satisfied customers are more likely to recommend the service to others, generating positive word-of-mouth advertising Conversely, dissatisfied customers tend to switch to competing brands and spread negative feedback, highlighting the importance of maintaining high service standards.
Customer satisfaction is significantly influenced by several key factors, including price, product quality, service quality, personal and situational factors, as well as the uniqueness and diversity of products.
Service quality is a crucial factor in establishing a competitive edge within the banking industry, as highlighted by Lewis (1993) It significantly influences customer satisfaction, prompting bank management to differentiate their offerings from competitors by enhancing service quality.
This study examines determinants on customer satisfaction with focus on service quality dimensions of retail banking services in Vietnam commercial banks in
Ho Chi Minh City where is the center of developing economy, society and education in South Vietnam with a large number of population, almost banks and their branches.
Research Objective
The aims of this study as following:
- To identify main factors of customer’s perception on customer service quality in Vietnam retail banking sector
- To measure the effects of these key factors on the overall customer satisfaction in Vietnam retail banking sector
- To recommend some solutions to increase customer satisfaction.
Research question
The study is set to answer following questions:
- What are the key factors of customer’s perception on service quality of retail banking services in Vietnam commercial banks?
- How can these factors influence on customer satisfaction?
- What the recommendations should be needed to improve customer satisfaction in Vietnam commercial banks?
Scope and limit of the research
This research focuses on individual customers residing in Ho Chi Minh City who utilize retail banking services from seven commercial banks in the area The findings will specifically pertain to these Vietnamese commercial banks and will be based solely on the data collected during this study.
Research methodology
Data was collected from annual Vietnam commercial banks reports, from internet, involved books and previous related research
Qualitative research was conducted through in-depth interviews with thirty retail banking customers to identify key factors influencing their satisfaction and dissatisfaction with banking services The findings highlighted several critical dimensions of service quality, including tangibles, employee attitude, willingness to assist, reliability in service delivery, empathy, technology, waiting times, interest rates, and transaction costs These insights will inform the design of a questionnaire for a subsequent official study.
Quantitative research was conducted by distributing questionnaires to individual customers of seven commercial banks in Ho Chi Minh City through direct interactions, email, and the internet The data collected from these questionnaires were analyzed using SPSS version 16.0 to assess customer satisfaction levels.
The structure of the research
This research includes five chapters:
This introduction provides a comprehensive overview of the research, detailing the rationale behind the study, the problem statement, research objectives, and questions It also outlines the scope and limitations of the research, along with the methodology employed.
LITERATURE REVIEW
Vietnam retail banking sector
Over the past two decades, Vietnam's banking system has experienced remarkable growth alongside the country's economic development The system comprises a variety of institutions, including one Vietnam Bank for Social Policies, one Vietnam Development Bank, three state-owned commercial banks, forty commercial joint-stock banks, five joint-venture banks, five wholly foreign-owned banks, and thirty-six branches of foreign banks.
Table 2.1: Quantity of banks from 1991 to 2009
Foreign bank and branches of foreign bank 0 8 18 24 26 26 29 31 41 41 41
The data in Table 2.1 highlights that the development of Vietnam's banking sector is predominantly focused on commercial joint-stock and foreign banks This trend underscores the sector's appeal and growth potential for both domestic investors and international financial institutions Notably, the retail banking sector is identified as a particularly promising area that attracts interest from bankers.
Retail banking involves financial institutions conducting transactions directly with individual consumers rather than corporations or other banks Primarily offered by commercial banks, retail banking provides a variety of personal banking services, including savings and checking accounts, certificates of deposit, mortgages, personal loans, and debit and credit cards In today’s digital age, many retail banking services are efficiently streamlined through electronic means, such as Automated Teller Machines (ATMs).
Automated Teller Machines (ATMs), internet banking, home banking, and phone banking provide customers with convenient options for managing their finances Internet banking enables users to conduct various financial transactions online, while home banking allows for seamless money transfers, bill payments, and more from anywhere without needing to visit a physical bank Additionally, phone banking offers the flexibility to perform transactions and access account information, foreign exchange rates, and interest rates at any time through a telephone.
In an open economy, retail banking services are crucial for commercial banks as they provide a stable revenue source, enhance competitiveness, reduce risks, and expand market share The retail banking sector also lowers transaction costs, promotes a cashless economy, stimulates business activities, and improves the quality of life by effectively utilizing potential capital Additionally, it offers a diverse range of convenient and secure services to consumers Consequently, the development of retail banking services has become an essential trend for both international and Vietnamese banks.
Vietnam is considered as an attractive retail banking market as the whole market potential, it is clear that there is a huge opportunity for new entrants
Firstly, it has a strong reputation for both political stability and a prosperous business environment among Asian nations and became a member of WTO in Jan
2007, under which Vietnam committed to integrate into the world market resulted in the five 100% foreign banks currently established in Vietnam
Vietnam boasts a growing population with increasing incomes; however, a significant portion of individuals, particularly in rural areas, remain unfamiliar with retail banking services and lack bank accounts For example, in Ho Chi Minh City, despite its large population and high bank density, only 17% of residents engage in non-cash transactions or possess bank accounts, highlighting a substantial opportunity for the retail banking sector.
Vietnam's population of approximately 86 million includes over 60% young individuals under the age of 33, who frequently change their shopping habits This demographic presents a significant opportunity for both foreign and domestic banks to enhance their credit services Currently, Vietnamese commercial banks provide only about 10% of the total retail services offered by international banks, achieving an average turnover of 6% to 12% from this sector, compared to around 50% in developed countries Consequently, there remains a substantial market potential that is likely to attract more competitors.
The retail banking sector in Vietnam faces intense competition, particularly from foreign banks, as domestic banks struggle with limited capital and service offerings To address this, the State Bank of Vietnam has mandated that domestic banks increase their chartered capital to at least 3 million VND by the end of 2010, prompting a trend of mergers and partnerships between smaller and larger banks Despite significant improvements in technology, management, and service diversification, domestic banks still lag behind their foreign counterparts, which boast superior resources and advanced technology Major domestic players include Agribank, BIDV, and VBSP, with Agribank leading in branch numbers at 115 locations Joint stock commercial banks like Techcombank and Sacombank have also expanded their branch networks, but joint venture banks remain limited in their reach.
The retail banking sector in Vietnam is experiencing significant transformation due to heightened competition, a broader range of products and services, and increased reliance on online channels As a result, commercial banks must focus on strengthening relationships with current clients while also attracting and converting potential customers.
Customer satisfaction
Customer expectations refer to the beliefs and feelings that individuals hold regarding a company's products or services, shaped by their specific needs and desires This phenomenon illustrates why two customers can use the same product or service yet arrive at differing opinions, as their experiences are influenced by their unique expectations.
Customer expectations are shaped by perceptions of products or services, influenced by previous experiences, advertising, word-of-mouth, competitor awareness, and brand image Before consumption, customers have specific standards and expectations, which they compare against the actual performance of the product or service to assess satisfaction For service-oriented organizations, understanding these expectations is crucial to avoid customer dissatisfaction Meeting customer expectations leads to increased customer satisfaction.
Customer satisfaction is a crucial aspect for marketers and consumer researchers, as it reflects the overall reaction of customers to their fulfillment experiences It encompasses the evaluation of how well their needs and expectations have been met, highlighting its significance in both theoretical and practical contexts.
Customer satisfaction is a crucial factor for success in today's competitive business landscape, defined as the overall attitude or emotional reaction of customers towards a service provider, based on the gap between their expectations and the actual experience According to Hansemark and Anbinsson (2004), it reflects how well a service meets customers' needs, goals, or desires Zeithaml and Bitner (2000) emphasize that satisfaction involves evaluating a product or service in terms of whether it fulfills customer expectations Additionally, Kotler (2000) notes that satisfaction arises from feelings of pleasure or disappointment when comparing perceived performance with prior expectations Ultimately, customer satisfaction is a response to the difference between what customers anticipated and what they received after using a product or service.
2.2.3 The importance and benefits of customer satisfaction
In the early 1960s, marketing transitioned from a product-oriented approach to a customer-centric model, emphasizing the importance of understanding customer needs and wants Zairi (2000) highlighted that customers are essential to business success, stating, “Customers are the purpose of what we do," which underscores the necessity for organizations to prioritize customer satisfaction In today's competitive marketplace, meeting customer expectations is crucial for achieving business goals and securing a sustainable competitive advantage.
According to Evans and Berman (1997), companies with satisfied customers have a significant opportunity to foster loyalty, leading to sustained profit growth Hoyer and Maclnnis (2001) emphasize that satisfied customers are the cornerstone of successful businesses These customers tend to prioritize brand loyalty over price, are willing to pay a premium for new products or services, and actively promote the brand through positive word-of-mouth to their social circles Consequently, businesses with high customer satisfaction experience lower service costs, reduced marketing expenses, and enhanced reputations.
Figure 2.1: The Benefits of customer satisfaction
Customer Service quality
Customer service is essential for meeting and exceeding customer expectations, fostering loyalty through tailored service before, during, and after a purchase It encompasses a range of activities aimed at enhancing customer satisfaction, ensuring that products and services align with customer needs This focus on customer service is crucial for gaining a competitive advantage and maximizing overall value for customers.
Most market products combine tangible goods and intangible services, with the banking industry exemplifying how essential services are for customer retention and attraction In contrast, other businesses may have services that support their tangible products Key characteristics of services—such as intangibility, inseparability, variability, and perishability—distinguish them from physical products and complicate customer evaluation during preconsumption, consumption, and post-consumption stages By understanding these service characteristics, organizations can enhance customer experience and improve performance, ultimately leading to better service delivery.
- Intangibility: service can not be seen, touched, or tasted making consumers feel difficult to measure service value and quality
Inseparability in services means that they are produced and consumed simultaneously, unlike goods that can be manufactured and stored for future distribution This characteristic highlights the importance of the service provider, who is an integral part of the service experience For example, a bank teller plays a crucial role in delivering banking services, directly influencing the overall customer experience and service outcome.
- Variability: as service is produced and consumed simultaneously and provider becomes a part of service offering so the service is never exactly repeated
- Perishability: it is impossible to store services in inventory as production and consumption are at the same time
Organizations today recognize the significance of customer-centered philosophies, with a primary challenge being the management of service quality, which is crucial for ensuring customer satisfaction.
Service quality is a crucial factor that influences customer satisfaction and serves as a key determinant for businesses As highlighted by Spreng and Machoy (1996), high service quality is essential for achieving customer contentment By prioritizing service quality, organizations can differentiate themselves from competitors and secure a sustainable competitive advantage.
Service quality is defined as the subjective evaluation customers make when comparing their desired service with the actual service received (Gefan, 2002) According to Parasuraman et al (1985, 1988), it is determined by the discrepancies between customer expectations of service providers' performance and their assessment of the services rendered.
2.3.4 Gap model of service quality
Numerous research models have been developed to enhance service quality, but the most renowned is the one by Parasuraman, Zeithaml, and Berry (1985), which identifies five key gaps in service delivery.
Gap 1: difference between customer expectations and management perceptions of customer expectations This is the gap between what customers want and what managers think they want
Gap 2: difference between management perceptions of customer expectations and quality specifications set for service delivery
Gap 3: difference between the quality specifications set for service delivery and the service actually delivered
Gap 4: difference between the actual quality of service delivery and the quality of service delivery described in the firm's external communications
Gap 5: difference between customer expectations and perceptions For instance, the firm promises to deliver in its communication with customer, then if a promise is broken by the organization (what it is actually delivered to the customer), the customer will perceive service quality to be lower than expected
To meet customer expectations, firms are increasingly focused on minimizing the five gaps in service quality identified by Parasuraman and his colleagues in 1985 This five gaps model serves as a crucial framework for understanding and improving service delivery.
Figure 2.2: Model of service quality gaps (Parasuraman at el., 1985)
Measuring service quality is essential for identifying areas that require improvement from the user's perspective This process enables organizations to deliver services that better align with user expectations and facilitates effective comparisons of service performance.
Transition of Perceptions into Service Quality Specs
Management Perceptions of Consumer Expectations
Service Delivery (Including pre- and post-contacts)
GAP 2 model of Parasuraman at el., (1985) is considered as the most used-approach to measure service quality in comparing customers’ expectations and their perceptions based on the actual service delivered They evolved a set of ten dimensions including:
- Reliability: Ability to perform the promised service dependably and accurately
- Responsiveness: Willingness to help and respond to customer needs
- Competence: having the required skill and knowledge to provide the service
- Access: the ease and convenience of accessing the services such as opening time, location, alternative methods to access services, etc
- Courtesy: politeness, respect, consideration, and friendliness of staff at all level
- Communication: keeping customers informed, understanding well service and listening to them
- Credibility: trustworthiness, believability, reputation and image of the service provider
- Security: physical safety, financial security and information confidentiality
- Understanding customers: knowing customers and their needs
- Tangibles: appearance of physical facilities, equipment, individual and communication materials
These 10 dimensions comprise all aspects of the service but it is so complex in measurement, then Parasuraman at el., (1988) reduced the ten dimensions to five specific dimensions after finding out the correlation among the original ten dimensions
- Tangibles: appearance of physical facilities, equipment, individual and communication materials
- Reliability: Ability to perform the promised service dependably and accurately
- Responsiveness: Willingness to help and respond to customer needs
- Assurance: knowledge and courtesy of employees and their ability to convey the trust and confidence the firm provides to its customers
- Empathy: Caring, individualized attention the firm provides its customers.
RESEARCH DESIGN
Research model
A review of the literature identifies six key dimensions that define the quality of retail banking services, forming a proposed model specifically tailored for commercial banks in Vietnam.
Reliability is a crucial aspect of service provision, referring to the ability of a service provider to deliver promised services dependably and accurately When customers perceive that the services received meet the promised quality, they are likely to feel satisfied, indicating a positive correlation between reliability and customer satisfaction, thus forming the basis of the first hypothesis.
- H1: Reliability has a positive impact on customer satisfaction in retail banking sector in case of Vietnam commercial banks
Responsiveness is the readiness of a service provider to assist customers and deliver timely service When customers experience a provider's willingness to help and receive prompt responses, they perceive a high level of quality, leading to increased satisfaction Thus, the second hypothesis posits that responsiveness significantly influences customer satisfaction.
- H2: Responsiveness has a positive impact on customer satisfaction in retail banking sector in case of Vietnam commercial banks
Assurance is the service provider's ability to instill trust and confidence in customers, which is crucial for evaluating service quality, especially for those who lack prior experience A higher level of customer trust significantly influences their perception of service quality, leading to increased satisfaction Consequently, the third hypothesis posits that enhanced trust in the service provider correlates with improved customer satisfaction.
- H3: Assurance has a positive impact on customer satisfaction in retail banking sector in case of Vietnam commercial banks
Customers' satisfaction is positively influenced when they feel they receive personalized attention from service providers, along with convenient branch locations and ATM availability Thus, the fourth hypothesis states that these factors significantly enhance overall customer satisfaction.
- H4: Empathy has a positive impact on customer satisfaction in retail banking sector in case of Vietnam commercial banks
In the service delivery process, clients engage directly with bank staff, physical facilities, and various communication materials Since services are intangible, customers assess service quality through tangible indicators Positive perceptions of the appearance of physical facilities, equipment, personnel, and communication materials significantly enhance customer satisfaction Thus, the fifth hypothesis suggests that these tangible clues play a crucial role in influencing overall client satisfaction.
- H5: Tangibles has a positive impact on customer satisfaction in retail banking sector in case of Vietnam commercial banks
When customers perceive that a service provider offers reasonable or competitive pricing and interest rates, their appreciation for these costs increases, leading to higher levels of customer satisfaction Thus, we propose the sixth hypothesis: the more customers value the cost or interest, the greater their overall satisfaction with the service.
- H6: Social responsibility has a positive impact on customer satisfaction in retail banking sector in case of Vietnam commercial banks.
Research design
This study investigates the key factors influencing service quality and its impact on customer satisfaction within the retail banking sector of Vietnam, specifically in commercial banks located in Ho Chi Minh City The research identifies six determinants of service quality, as outlined in the literature review, and assesses their individual effects on overall customer satisfaction Based on the analysis and evaluation, the study will also provide recommendations for banks to enhance customer satisfaction and foster loyalty.
This research is conducted in the two steps comprises qualitative research and quantitative research as following:
Qualitative research was conducted through face-to-face interviews with bank customers to identify key factors influencing service quality for a questionnaire While this model draws from established theories, it may differ in its application within Vietnam's retail banking sector.
Quantitative research was conducted by distributing questionnaires to customers of seven commercial banks in Vietnam, utilizing direct delivery, email, and online methods to gather data effectively.
- Basic concepts of service quality and customer satisfaction
- Initial model (based on previous study and deep interview)
The research process begins by identifying research problems, which then leads to the formulation of research objectives and corresponding research questions Following this, a comprehensive literature review is conducted, focusing on concepts related to service quality, customer satisfaction, and the various dimensions of service quality.
The SERVQUAL model is a widely recognized framework in the service industry, particularly applied to banking This study begins with in-depth interviews with banking customers and a comprehensive literature review, leading to the formulation of six initial hypotheses To gather data for analysis, 200 questionnaires were distributed to customers The data analysis employs two primary tools: Cronbach’s Alpha and Exploratory Factor Analysis (EFA), which help eliminate unsuitable factors and variables from the model Finally, regression analysis is conducted to explore the relationships between the independent and dependent variables within the model.
The result of the research is found out and we can give out some conclusions and recommendations based on that result.
DATA ANALYSIS AND FINDINGS
Sample Characteristics
A total of 200 questionnaires were distributed to customers who utilized retail banking services from seven commercial banks in Ho Chi Minh City, including Sacombank, Vietcombank, ACB, EAB, Techcombank, BIDV, and Agribank Ultimately, 133 completed questionnaires were selected for data analysis, which was conducted using SPSS 16.0 software.
Table 4.1 outlines key characteristics of the sample, including age distribution, gender, marital status, average monthly income, profession, and banking services used Among the 133 surveyed individuals, the gender split is nearly equal, with males at 51.9% and females at 48.1% The majority of respondents are aged between 25 and 40 years, comprising 69.2% of the sample, while those under 25 make up 26.3%, and individuals over 40 account for 4.5% In terms of marital status, 58.6% are single, and 41.4% are married The average income levels are modest, with 42.1% earning between 6 to 10 million VND and 38.3% earning less than 5 million VND.
In the realm of retail banking services, office staff with an average income ranging from 6 to 10 million VND represent the largest demographic, accounting for 54.9% of users Other groups include managers at 15%, students at 12%, workers at 5.3%, homemakers at 1.5%, and retirees at a mere 0.8%, with 10.5% from various other occupations Monthly service usage is relatively frequent, with 48.9% of customers engaging in transactions 1 to 2 times, 28.6% 3 to 4 times, and 20.3% more than 4 times Vietcombank and EAB lead in customer engagement, serving 57 and 56 clients respectively.
In Vietnam, the government promotes the use of ATM cards for salary payments, leading to 121 out of 133 surveyed customers utilizing banking card services, with 61 of these customers holding deposit accounts.
Student Home-maker Worker Office staff Manager Retiree Other
No 1-2 times 3-4 times More than 4 times
Times of transaction per month
Statistical Results
4.2.1 Variables for measuring service quality
Table 4.2 : Descriptive statistics of service quality measurement
N Mean Std Deviation Minimum Maximum
Table 4.2 reveals that the reliability measurement (Rel.1) of banks is moderately high, with a mean score of 4.02, indicating customer satisfaction and trust in the bank's promised services Five variables closely related to Reliability (Rel.3, Rel.4, Rel.5), Assurance (Ass.11), and Tangibles (Tan.21) also score near four, reflecting the increasing expectations of customers due to rising incomes and living standards Banks have responded by enhancing their physical facilities and training staff to boost customer confidence and mitigate transaction risks However, other variables show mean scores ranging from 3.04 to 3.69, suggesting that customers rate the quality of retail banking services in Vietnam at a medium level Notably, the lowest scores are associated with the bank's Empathy and Social Responsibility, indicating that customers feel their interests are not adequately addressed.
The analysis of service quality in Vietnam's commercial banks reveals varied customer evaluations, highlighting certain aspects that are well-regarded while others fall short of expectations Notably, many mean scores are below four, indicating that a significant number of customers remain dissatisfied with the banks' services.
Table 4.3 : Descriptive statistics of customer satisfaction measurement
Table 4.3 indicates that the mean score for overall customer satisfaction is at a medium level, with all scores falling below four on a five-point Likert scale This suggests that customers are dissatisfied with the performance of commercial banks in Vietnam.
CONCLUSIONS AND RECOMMENDATIONS
Conclusions
This study highlights the service quality of Vietnamese commercial banks, emphasizing three key factors: Serving Quality, Empathy, and Tangibles In an increasingly competitive market, bankers recognize that achieving customer satisfaction is essential for fostering loyalty and enhancing profits The findings indicate that when service quality is effectively delivered and managed, customers are more likely to feel satisfied, remain with the bank longer, increase their purchases, and refer others Consequently, improving service quality remains a top priority for bankers.
This research focuses on how customers perceive and evaluate the service quality provided by commercial banks in Vietnam Understanding customer perceptions is crucial for banking leaders to enhance their service quality and develop effective customer-oriented strategies Service quality significantly influences customer satisfaction, making it essential for banks to improve their service levels to retain customers Key factors affecting service quality must be addressed to boost customer satisfaction The study identifies three critical dimensions of service quality: Serving Quality (0.363), Tangibles (0.253), and Empathy (0.233), all of which positively impact customer satisfaction.
Delivering high-quality service has a significant positive impact on customer satisfaction, fostering trust in the bank's ability to provide error-free services This trust is built through genuine care, positive attitudes, and effective problem-solving by bank staff, all of which enhance the overall customer experience.
Tangibles play a crucial role in customer satisfaction, as they refer to the professional arrangement and decoration of physical facilities, creating a comfortable environment for clients Additionally, the appearance of bank employees significantly influences customers' first impressions Furthermore, customers appreciate clear and familiar information about services presented in brochures or on the website, enhancing their overall experience.
Empathy significantly influences customer satisfaction, as it reflects the ability of bank employees to understand and address customers' needs, ensuring that clients feel their interests are always prioritized.
The service quality of retail banking at Vietnamese commercial banks is currently rated as average, indicating a general dissatisfaction among customers In light of intense competition in the banking sector, it is crucial for these banks to implement changes aimed at enhancing customer satisfaction Prioritizing the three key determinants of service quality is essential, along with proposing effective solutions to elevate customer satisfaction levels.
Recommendations
In order to satisfy customers, bankers have to pay more attention to service quality and offer customer-oriented services to enhance customer satisfaction
The dimensions of "Serving Quality" and "Empathy" encompass ten items that predominantly focus on employee behaviors, highlighting the crucial role of human resources in Vietnam's retail banking operations.
M K Brady and J J Cronin Jr., customer’s perceptions of service quality will be impacted by customer – oriented behaviors of employees Employees directly influence to customer’s perception, customer feelings through their willingness to help and serve customers with 100% correct, their personal attention, listen, adapt and be flexible in delivering what individual customers need These inspire the safe and confident feelings to customers The important thing is how bank leaders can optimize human performance, effort, thinking and innovation which make the services more different or better
To enhance customer relations, staff at Vietnamese commercial banks must undergo regular and in-depth training Continuous professional development and communication skills training are essential for bankers to equip their teams effectively By fostering a deep understanding of services, maintaining a friendly demeanor, and exhibiting professional behavior, bank staff can build trust and confidence among customers.
Bank managers should communicate the organization's customer-focused objectives to employees and encourage their input and ideas This approach fosters employee enthusiasm, dedication, and innovation, ultimately enhancing service quality and ensuring customers feel secure and satisfied.
During the delivery process, bank staff should clearly inform customers about available promotions and benefits It is essential to prioritize customer interests by providing explanations and assisting them in selecting the most convenient services that maximize their benefits in every transaction.
Bank staff should actively engage with customers, encouraging them to share both positive and negative experiences regarding service quality By listening attentively and maintaining a friendly demeanor, employees can identify areas for improvement and enhance overall service delivery.
In the realm of technology, the "Tangibles" dimension encompasses three key elements that influence customer perceptions of Vietnam's commercial banks This factor significantly impacts customer satisfaction and must be optimized Professional and convenient physical facilities are essential for creating a comfortable environment for customers during transactions Furthermore, investing in modern and advanced technology is crucial to reduce errors and minimize wait times, ultimately enhancing service delivery efficiency and boosting customer confidence.
To ensure long-term success, bank leaders must focus on developing strategies that enhance service quality through effective personnel management This includes hiring the right talent, nurturing the potential of employees to provide exceptional service, and retaining top performers to maintain high standards of customer satisfaction.
Research limitation
This research highlights the critical role of service quality and identifies key factors that influence it, along with strategies to enhance customer satisfaction However, it is important to acknowledge the limitations of this study, which should be considered for future research endeavors.
One significant limitation of this study is the small sample size of 133 participants, which was constrained by time The research focuses exclusively on customers utilizing retail banking services from seven commercial banks in Ho Chi Minh City, rather than encompassing the entire retail banking sector in Vietnam A broader generalization of the findings could be achieved by conducting future research with a larger sample and including respondents from various commercial banks across different cities in Vietnam.
The study focuses exclusively on the impact of service quality factors on customer satisfaction, neglecting other components of satisfaction This limitation highlights the need for future research to explore additional influences on customer satisfaction within the Vietnamese retail banking sector.
This study primarily utilizes the SERVQUAL framework (Parasuraman et al., 1988) to assess service quality Future research should explore the application of alternative theories related to service quality to enhance understanding in this field.
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Interview Customers
1 Thông tin cá nhân a Họ và tên: b Giới tính: c Nghề nghiệp:
2 Anh/Chi hiện đang sử dụng dịch vụ của ngân hàng thương mại nào:
Trong số các dịch vụ tài chính hiện có, bạn có thể lựa chọn sử dụng dịch vụ gửi tiết kiệm, vay tiền, chuyển tiền, dịch vụ thẻ như thẻ ATM và thẻ tín dụng, cũng như các hình thức ngân hàng trực tuyến như Internet banking, Phone banking và Home banking Ngoài ra, còn có những dịch vụ khác mà bạn có thể quan tâm.
Sự hài lòng của khách hàng khi sử dụng dịch vụ ngân hàng chịu ảnh hưởng bởi nhiều yếu tố Đầu tiên, yếu tố hữu hình như cách trang trí ngân hàng, trang thiết bị và trang phục nhân viên đóng vai trò quan trọng Chất lượng giao dịch thể hiện qua thái độ phục vụ, sự chuyên nghiệp và thời gian chờ đợi của khách hàng Mức độ tin cậy của ngân hàng được đánh giá qua khả năng cung cấp dịch vụ đúng yêu cầu và cam kết Sự thấu hiểu từ nhân viên, bao gồm việc quan tâm và nhanh chóng giải quyết khiếu nại, cũng góp phần quan trọng Yếu tố công nghệ, như hệ thống máy ATM hiện đại, cùng với chi phí và lãi suất cạnh tranh, là những yếu tố không thể thiếu trong việc nâng cao trải nghiệm khách hàng.
5 Vui lòng liệt kê các yếu tố anh / chị cảm thấy không hài lòng khi sử dụng các dịch vụ ngân hàng:
As part of the Master's program at the University of Economy in Ho Chi Minh City, this research aims to enhance customer satisfaction in Vietnam's commercial banks, focusing on customer service quality We seek to understand how customers perceive and evaluate the service quality provided by banks such as Sacombank, Vietcombank, ACB, EAB, Techcombank, Agribank, and BIDV We kindly request residents of Ho Chi Minh City who utilize these banking services to take 10 minutes to complete our questionnaire, sharing their valuable experiences and opinions.
Your responses to this questionnaire regarding banks' service quality are crucial for our research The findings will aid in enhancing customer service within the banking sector Remember, there are no right or wrong answers; every response is valuable and contributes significantly to our study.
Thank you very much for your co-operation!
Please mark (X) corresponding to your answers
1.1 Gender Male Female Phone No.:………
1.6 Presently, Which banks do you use their services?
1.7 Presently, What types of services do you use in the bank?
Deposits (checking accounts, savings accounts, certificates of deposit)
Loans (mortgages, personal loans such as consuming loans, home loans, car loans, )
Transfers (money transfer, funds transfer)
Card services (ATM, Visa card, Debit card, )
Internet banking (allows customer do transactions via internet such as: funds transfer, checking account information,…)
Home banking (allows customer do transactions at home instead of coming to the bank through internet or mobile phone such as: transfer, bill payment,…)
Phone banking (allows customer do transactions any where without coming to the bank through telephone such as: checking account information, interest rate, foreign exchange rate,…)
1.8 How many times do you usually have transaction with the bank per month?
More than 4 times per month
Code The measure of customer satisfaction level
Strongly disagree Disagree Neutral Agree Strongly agree
Rel.1 The bank provide service as promised
Rel.2 When you have a problem, the bank shows a sincere interest in solving it Rel.3 The bank provides the service right at the first time
Rel.4 The bank promises to do something in a certain time
(card delivery time, problem solving time, etc) Rel.5 The bank’s documents maintains error-free records
Res.6 The bank’ staffs tell you exactly when the services will be performed Res.7 The bank’s staffs promptly give you the services
Res.8 The bank’s staffs are always willing to help you
Res.9 The bank’s staffs are willing to meet your demand
Ass.10 The behaviors of bank’s staffs instill confidence in you Ass.11 You feel safe in your transaction with the bank
Ass.12 The bank’s staffs are consistently courteous with you
Ass.13 The bank’s staffs have the knowledge to answer your questions
Emp.14 The bank’s staffs who deal with customer in a caring fashion Emp.15 The bank has your best interest at heart
Emp.16 The bank’s staffs understand your specific needs
Emp.17 The bank has operating hours convenient to all its customers Emp.18
Tan.19 The bank has modern looking equipment
Tan.20 External and internal physical features are convenient and professional ( counter location, waiting-seat, etc)
Tan.21 The bank’s reception desk employees are appealing and neat appearance
Tan.22 The bank’s website and brochures are visually appealing and easily understanding
Sor.23 The bank always offers good services at reasonable cost / interest
Code The measure of customer satisfaction level
Extremely Satisfy Satisfy Neutral Dissati sfy Extremely Dissati sfy
Gen.24 Overall, you are satisfied with the bank’s service quality Gen.25 Overall, you are satisfied with the bank
Gen.26 You are likely to recommend the bank to others
Tôi là sinh viên cao học tại Đại học Kinh Tế Tp Hồ Chí Minh, hiện đang tiến hành nghiên cứu về nhận thức và đánh giá của khách hàng đối với chất lượng dịch vụ khách hàng của các ngân hàng Việt Nam Đối tượng khảo sát bao gồm những khách hàng đang sinh sống, làm việc và học tập tại Tp Hồ Chí Minh, những người sử dụng dịch vụ của các ngân hàng như Sacombank, Vietcombank, ACB, EAB, Techcombank, Agribank và BIDV.
Chúng tôi rất mong quý khách hàng dành khoảng 10 phút để chia sẻ ý kiến và kinh nghiệm của mình về dịch vụ ngân hàng Những phản hồi của quý khách sẽ đóng góp giá trị lớn cho nghiên cứu này.
Xin chân thành cám ơn quý khách hàng!
Xin quý khách hàng đ ánh d ấ u g ạ ch chéo (X) vào t ừ ng câu tr ả l ờ i t ươ ng ứ ng
Phần 1: Thông tin cá nhân
1.9 Giới tính Nam Nữ Điệnthoại:
1.10 Tình trạng hôn nhân Độc thân Đã có gia đình
Khác (Vui lòng ghi cụ thể: ……….)
1.14 Ngân hàng bạn đang sử dụng dịch vụ (có thể chọn nhiều câu trả lời)
Ngân hàng khác (Vui lòng ghi cụ thể : ……….)
1.15 Dịch vụ bạn đang sử dụng tại ngân hàng (có thể chọn nhiều câu trả lời)
Dịch vụ ngân hàng bao gồm tiền gửi với các sản phẩm như tài khoản vãng lai, tài khoản tiết kiệm và chứng chỉ tiền gửi Bên cạnh đó, dịch vụ cho vay cung cấp nhiều lựa chọn như cầm cố thế chấp, vay tiêu dùng, vay mua nhà và vay mua xe Ngoài ra, ngân hàng còn hỗ trợ chuyển tiền cả trong nước và quốc tế.
Dịch vụ thẻ (ATM, Visa card, Debit card, )
Internet banking (cho phép khách hàng thực hiện giao dịch thông qua internet như: Chuyển khoản, truy vấn tài khoản,…)
Ngân hàng tại nhà là dịch vụ cho phép khách hàng thực hiện các giao dịch ngân hàng ngay tại nhà thông qua internet hoặc điện thoại di động Khách hàng có thể dễ dàng chuyển khoản, chuyển tiền và thanh toán hóa đơn chỉ với vài cú nhấp chuột hoặc chạm tay.
Phone banking cho phép khách hàng thực hiện giao dịch qua điện thoại cố định mà không cần đến ngân hàng, bao gồm các dịch vụ như truy vấn tài khoản, tra cứu thông tin lãi suất và tỷ giá.
1.16 Số lần giao dịch với ngân hàng
Khác (Vui lòng ghi cụ thể: ………)
Mã Thang đo mức độ hài lòng của khách hàng
Bình thường / Trung dung Đồng ý
Rel.1 Ngân hàng cung cấp dịch vụ đúng như đã cam kết Rel.2
Khi bạn gặp trở ngại, ngân hàng luôn chứng tỏ mối quan tâm thực sự muốn giải quyết vấn đề đó
Rel.3 Ngân hàng thực hiện dịch vụ đúng ngay lần đầu tiên Rel.4
Ngân hàng thực hiện đúng thời gian đã cam kết với khách hàng (thời gian giao thẻ, thời gian giải đáp thắc mắc,…)
Các chứng từ được ngân hàng lưu giữ, duy trì để không xảy ra sai sót nào
Nhân viên ngân hàng luôn sẵn sàng giúp đỡ và đáp ứng yêu cầu của bạn, tạo cảm giác an toàn và tin cậy khi giao dịch Họ nhanh chóng thực hiện dịch vụ và luôn niềm nở, mang lại sự hài lòng cho khách hàng Thời điểm thực hiện dịch vụ được thông báo chính xác, giúp bạn yên tâm hơn khi sử dụng dịch vụ ngân hàng.
Nhân viên ngân hàng có đủ hiểu biết và kiến thức để trả lời các câu hỏi của bạn
Nhân viên ngân hàng luôn đặt lợi ích của bạn lên hàng đầu và coi đó là tâm niệm trong công việc Họ hiểu rõ những nhu cầu của bạn, từ đó cung cấp dịch vụ phù hợp Ngoài ra, ngân hàng còn làm việc vào những giờ giấc thuận tiện để phục vụ bạn tốt nhất.
Ngân hàng có hệ thống máy ATM và phòng giao dịch ở nhiều vị trí thuận tiện
Tan.19 Ngân hàng có trang thiết bị hiện đại
Cách bài trí bên ngoài và bên trong ngân hàng chuyên nghiệp, thuận tiện (vị trí quấy giao dịch, hàng ghế chờ,…)
Tan.22 Website và các tờ quảng cáo sản phẩm dịch vụ đẹp, dễ hiểu Sor.23
Ngân hàng luôn áp dụng chi phí giao dịch, lãi suất cho vay, lãi suất tiền gửi hợp lý
Mã Thang đo mức độ hài lòng của khách hàng
Hoàn toàn không hài lòng Gen.24
Nhìn chung mức độ hài lòng của bạn đối với chất lượng dịch vụ ngân hàng
Gen.25 Nhìn chung mức độ hài lòng của bạn đối với ngân hàng Gen.26 Khả năng bạn giới thiệu dịch vụ của ngân hàng với người khác
Item Deleted Scale Variance if Item Deleted Corrected Item-
Total Correlation Cronbach's Alpha if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
Total Correlation Cronbach's Alpha if Item Deleted
Total Correlation Cronbach's Alpha if Item Deleted
Scale Variance if Item Deleted
Cronbach's Alpha if Item Deleted
1 Factor analysis result of service quality a Step 1
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .903
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser Normalization a Rotation converged in 8 iterations b Step 2
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .902
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser Normalization a Rotation converged in 8 iterations c Step 3
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .905
Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of
Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 5 iterations d Step 4
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .899
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 6 iterations e Step 5
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .895
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 7 iterations f Step 6
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .897
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 7 iterations g Step 7
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .896
Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 7 iterations
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .888
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 6 iterations i Step 9
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .877
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 6 iterations j Step 10
Kaiser-Meyer-Olkin Measure of Sampling Adequacy .870
Initial Eigenvalues Extraction Sums of Squared Loadings
Rotation Sums of Squared Loadings a Factor Total % of Variance Cumulative % Total % of Variance Cumulative % Total
Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance
Extraction Method: Principal Axis Factoring
Rotation Method: Promax with Kaiser
Normalization a Rotation converged in 7 iterations.
