Factors affecting service quality at Vietnamese retail banks

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Sustainable growth and development can be the most important lesson that banks have learned in recent decades. Banks would gain many benefits, win the competition and develop sustainably if there have been more and more loyal customers. Customer satisfaction will help build customer loyalty. In order to have loyal customers, service quality must be good. Quality customer service of the bank is to ensure customer satisfaction and take their needs into consideration to improve service quality. High customer service quality will generate value not only to meet customer needs but also the expectations of customers and make banks more prominent than their competitors. This study identifies factors that affect customer satisfaction with the service quality at Vietnamese retail banks. The results are obtained by qualitative and quantitative method. The research model with a questionnaire consisting of 22 variables, 5 scales for a survey of 554 customers, is identified and developed through interviews with experts and group discussions. The findings show that customer satisfaction with the service quality at retail banks is influenced by “reliability”, “responsiveness”, “empathy”, “security”, and “tangibles”. Based on the findings, solutions for improving service quality are proposed for Vietnamese retail banks.

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    • Figure 1. Scale with the values and ranges
    • Table 1. Cronbach’s alpha
    • Table 2. Exploratory factor analysis (EFA) for the independent variable
    • Table 3. Rotated component matrixa
    • Table 4. CFA factor analysis
    • Table 5. Regression coefficients of the formal research model table
    • Table 6. Expert survey results on the feasibility and necessity of management recommendations
    • Table 7. Correlation coefficient of the necessity and feasibility of management recommendations