Implications related to Bank’s Customers Satisfaction (The case of Albanian banks grouped by the origin of shareholder’s capital)

Abstract

This study focuses on the much debatable issue of customer satisfaction (quality matching expectations) in the banking system, as for banks are the main actors of the Albanian financial system. In fact, the customer satisfaction in the banking sector is an important criterion for customer to differentiate and build their loyalty toward the bank, consequently increasing the odds for loyal customers towards more than a service of the bank. Previous studies and research suggest that consumer perceptions and their expectations are likely to differ as per their customer satisfaction. This particular study examines implications related to bank’s customers satisfaction for Albanian banks which for study purpose are grouped in two different clusters based on the origin of shareholder’s capital. Satisfied customers are an important advantage for any business likewise banks. The difference is made by customer satisfaction and loyalty created through some components on the behavior of bankers serving to their customers. The SERVQUAL model that is the pillar of this article methodology, whereas structured and semi structured questionnaire is the instrument for performing the survey. A sample of 246 respondents which are banks customers from cluster 1 (local capital origin) is used for the qualitative research. The results of this study help bankers in order to maintain their business indicators in a highly competitive market and other stakeholders for identifying the implications faced in the banking industry in Albania. To achieve this, the Bank must conduct frequent research regarding customer expectations and respond to customer complaints with precise corrective actions.