FACTORS THAT DETERMINE CUSTOMER SATISFACTION LEVEL IN BANKING INSTITUTIONS: Evidence from Ghanaian Banking Industry

In the financial world, Investors always want to put their funds into investments that yields maximum returns. Thus, they seek avenues where there exist effective and efficient management of resources including customers as this serves as indication for promise of future returns. This has created a source of concern for the researchers and thus, this study seeks to evaluate factors that determine customer satisfaction level of banking institutions operating in Ghana in terms of certain variables noted for quality service delivery. The main objective of this study is to assess the factors that underline customers’ satisfaction level of the banks operating in Ghana, in terms of service quality and customer satisfaction. The chi-square and factor analysis, were the main statistical tools used for the analysis. Sample sizes of 300 respondents were selected from three selected banks operating in Ghana. Analysis of the data reveals that the most important factor that influences customer choice of bank is the cost of service followed by easy access to loan facilities. The study found that three factors that influence consumer’s satisfaction level of the banks. That is, Customer Relation and Service, Staff Competency and Responsive and Convenient banking.