Banking sector in Nepal is facing a rapidly changing market. This is also known as the late effect of world financial crisis. In addition, the impact of the economic problems and financial crisis among the financial institutions creates a great challenge for the overall banking sectors. At this situation aiming for the customer satisfaction is the most challenging task for banks. Through the satisfied customers, a bank can easily measure the effectiveness of the business, its potential and position in the industries and the areas that are needed to polish and improve. But gathering a satisfied customer is not an overnight miracle but with the full of ...view middle of the document...
are some major factors that affect the satisfaction of customer. These factors are used for measurement and continuous improvement of customer satisfaction.
Machhapuchchhre Bank Ltd was founded in 1998 as the first regional commercial bank to start banking business from the western region of Nepal with its head office in Pokhara. It is one of the full fledged commercial bank operating in Nepal; and it ranks in the top most among the private commercial banks. With its past success and experience MBL is striving to facilitate its customers’ needs by delivering the best of services in combination with the state of the art technologies and best international practices. But its business environment is not same as it was in the past. Its business environment is more complex with the entrance of powerful competitor, rapid change in customers’ service/product expectations, increasing employee turnover, possible cross sales and with many other factors. So, before moving to the something new and continuing existing one, it is necessary to identify the factors affecting the satisfaction and its current level.
Statement of the Problem
Customers have expectations and criteria when they judge whether the provided banking services is satisfactory or not. At the same time, due to the high competition in a banking sector, the perception of customers and potential customers are also divided according to the services that they want to achieve. The proper identification of customer satisfaction helps to retain customers and to increase brand awareness, profitability and effectiveness of bank’s services. These are the major customer oriented opportunities and challenges for the banking sector in Nepal, so the Machhapuchchhre Bank Ltd’s. Among the different problems regarding customer satisfaction, followings will be the major concern of this study.
What are the factors affecting the customer satisfaction of MBL?
How the MBL can gather the customer satisfaction, which is the same focus of other competing banks?
What are the most satisfactory factors that are provided by competing banks to its customers?
What types of product/services are expected by MBL’s customer in future?
Objective of the Study
To explore, study and analyze critically the customer satisfaction and factors affecting customer satisfaction of Machhapuchchhre Bank Ltd.
To identify, if any, possible way to increase customer satisfaction.
The following are the null hypothesis to be tested (H0):
H1: It is expected that Customers are satisfied with the competency of bank.
H2: It is expected that customers are satisfied with responsiveness of bank.
H3: It is expected that customer are satisfied with timeliness of bank.
H4: It is expected that customer are not satisfied with the online banking of bank.
H5: It is expected that customer are satisfied with the communication of bank.
H6: It is expected...