Analysis of the Factors Affecting Bank Selection Decisions in Mogadishu, Somalia

Abstract

Purpose:  The purpose of this article is to analysis of the factors affecting bank selection decisions in Mogadishu, Somalia.   Theoretical framework:  This study is to address several limitations in this study by providing extensive evidence on the determinants of the bank selection choice in Mogadishu, Somalia, and better inform bank executives and authorities about the types of services customers find most appropriate for their bank needs.   Design/methodology/approach: The methodology for the study is based on data collected from one hundred twenty customers who were selected as a sample size from the population of bank customers. Since it is impossible to find out the exact number of the entire customers for time-consuming and expensive reasons, the researcher chose the sample.   Findings:  The results showed they have a positive influence on the bank selection decision of consumers living in Mogadishu – Somalia. Elements used under the investigation include the Provision of bank services, the convenience of the bank, the reputation and image of the bank, the financial gain of the bank, people's influence, and information availability of the bank.   Research, Practical & Social implications: The results will indicate that customers' primary motivation for selecting a bank is the security of their funds, and better enlighten bank executives and authorities about the types of services that customers find most suitable for their bank requirements.   Originality/value: Original Research article