Factors affecting the selection of a bank according to customers viewpoint

An exploratory study among a sample of individuals in the administration and economics college at the university of zakho

Abstract

The study sheds light on one of the most vital topics in the financial field, focusing on diagnosing the importance of factors influencing a customer's choice of a bank. The study relies on the descriptive-analytical method, where a specific case is described, and then the phenomenon is analyzed. It includes a theoretical presentation of banking and its significance, in addition to highlighting some important factors for customers when making decisions about choosing a bank. The aim of the study is to identify the importance of these factors and their level of significance. The study relied on a questionnaire prepared for the purpose of collecting data and information about the opinions of the samples. Academics and employees at the College of Administration and Economics - University of Zakho were chosen as the study community and a random sample of 80 individuals was selected based on the number of usable and valid questionnaires for analysis. Several statistical tools were used, including percentages, means, and standard deviations. The study arrived at several results, including the existence of variations in the impact of these factors on customer behavior. Some factors were found to be more important to customers compared to others. The results showed that the bank's reputation was among the most important factors for customers when choosing a bank. On the other hand, the bank's location, the presence of financial advisors, and the social services provided by the bank did not show significant importance to customers in their bank selection. The study provided a set of suggestions that could be useful for banks in their dealings with customers, in addition to proposing some future studies on factors not covered in the current study.