CENTRALE BANK VAN ARUBA
COMMERCIAL
BANKS
CUSTOMER
SATISFACTION
SURVEY
2012
RESULTS
February 2013
Commercial Banks Customer Satisfaction Survey 2012-Results
CONTENTS
1. Background to the 2012 survey
2. Demographics
3. Service quality
4. Customer satisfaction
5. Customer loyalty
6. Conclusion
Commercial Banks Customer Satisfaction Survey 2012-Results
1. BACKGROUND TO
THE 2012 SURVEY
The aim of this survey:
To measure
the service quality of,
the customer satisfaction with, and
loyalty towards
the commercial banks in Aruba
The target population of the study:
Any individual above 18 years who has a deposit account, a loan account, or a
person who makes use of bank services.
The convenience sampling was used, which involves selecting sample units on
the basis of how easily accessible they are and are very common in research.
A sample size of 600 was targeted and 607 questionnaires were completed
and returned.
Commercial Banks Customer Satisfaction Survey 2012-Results
1. BACKGROUND TO
THE 2012 SURVEY
Development of the questionnaire
The questionnaire was developed by the Survey Committee
Commercial Banks Customer Satisfaction 2012.
Data collection
The personal interview was selected to collect the data.
1.
September 3-23, 2012, a total of 8 surveyors with an
assignment to collect 75 respondents each. At the end of the
period 547 responses were collected.
2.
September 29-October 14, 2012, 1 surveyor with the
assignment to collect the remaining 60 respondents.
Collection period
Commercial Banks Customer Satisfaction Survey 2012-Results
2. DEMOGRAPHICS
18-19
20-24
25-29
30-34
35-39
40-44
45-49
50-54
55-59
60-65
65+
Total
1
2
3
4
Total
361
212
32
2
607
59.5
34.9
5.3
.3
100.0
59.5
34.9
5.3
.3
100.0
59.5
94.4
99.7
100.0
Male
Female
Total
Highest level of education
Gender
Valid
Cumulative
Frequency Percent
Frequency
Percent
Percent
Percent
275
45.3
7
1.2
1.2
1.2
332
54.7 Less than primary
607 100.0 education
Primary education
33
5.4
5.8
7.0
Age group
EPB/LTS
60
9.9
10.5
17.5
Frequency Percent MAVO/MULO
126
20.8
22.0
39.4
15
2.5 MAO, MTS, EPI
132
21.7
23.0
62.5
61
10.0 HAVO
78
12.9
13.6
76.1
71
11.7 VWO
14
2.3
2.4
78.5
62
10.2 HBO (Bachelors degree)
109
18.0
19.0
97.6
76
12.5 WO (Masters degree)
12
2.0
2.1
99.7
80
13.2 Ph.D. (Doctoral degree)
2
0.3
0.3
100.0
76
12.5 Total
573
94.4
100.0
67
11.0
Missing
34
5.6
51
8.4
Total
607
100.0
31
5.1
How many banks do you deal with?
17
2.8
Valid Cumulative
607
100.0
Frequency
Percent Percent Percent
Commercial Banks Customer Satisfaction Survey 2012-Results
2. DEMOGRAPHICS
Savings account
No
Yes
Total
240
367
607
Percent
39.5
60.5
100.0
39.5
60.5
100.0
39.5
100.0
Frequency
No
Yes
Total
Current account
Frequency
No
Yes
Total
40
567
607
Percent
6.6
93.4
100.0
Valid Cumulative
Percent
Percent
6.6
93.4
100.0
6.6
100.0
Time deposits
Frequency
No
Yes
Total
571
36
607
Percent
94.1
5.9
100.0
Valid Cumulative
Percent
Percent
94.1
5.9
100.0
94.1
100.0
Frequency
460
147
607
Percent
75.8
24.2
100.0
Percent
490
80.7
117
19.3
607
100.0
Housing mortgage
Frequency
No
Yes
Total
492
115
607
Percent
81.1
18.9
100.0
Valid Cumulative
Percent
Percent
71.5
28.5
100.0
71.5
100.0
Valid Cumulative
Percent
Percent
80.7
19.3
100.0
80.7
100.0
Valid Cumulative
Percent
Percent
81.1
18.9
100.0
81.1
100.0
Other loans
Personal loans
No
Yes
Total
434
71.5
173
28.5
607
100.0
Car loans
Frequency
No
Yes
Total
Percent
Valid Cumulative
Percent
Percent
75.8
24.2
100.0
75.8
100.0
Frequency
No
Yes
Total
573
34
607
Percent
94.4
5.6
100.0
Valid Cumulative
Percent
Percent
94.4
5.6
100.0
94.4
100.0
Frequency
Credit cards
Valid Cumulative
Percent
Percent
Commercial Banks Customer Satisfaction Survey 2012-Results
Missing
Not applicable
Disagree strongly=1
Disagree=2
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
3. SERVICE QUALITYPHYSICAL ASPECTS/TANGIBLES
59.5
60
54.2
Mean: 5.87
Mean: 5.08
50
Mean: 5.91
Mean: 5.29
43.0
42.5
Mean: 5.10
40
In percent
36.4
30
25.0
21.9
21.7
21.1
20
15.3
12.5
7.9
5.8
0.3 0.3
0
Question 1
Disagree strongly
2.0 2.0
Question 2
Disagree
Tend to disagree
Q1. My banks personnel is neat in appearance
Q2. My bank has sufficient seating arrangement for its customers
Q3. My banks personnel has the required skills and knowledge
7.4
5.4 5.4
3.5
Question 3
Question 4
Tend to agree
6.9
1.0 1.8
0.8
Neutral
10.2
9.9
5.8
2.0
15.2
13.2
11.7
11.4
10
0.7 0.8 1.0
14.3
Agree
0.2
Question 5
Agree strongly
Q4. My bank has sufficient customer representatives
Q5. My bank has sufficient tellers
Missing
Commercial Banks Customer Satisfaction Survey 2012-Results
3. SERVICE QUALITYRELIABILITY
Disagree strongly=1 Missing
Disagree=2
Not applicable
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
60
54.9
50.1
49.1
50
Mean: 5.62
Mean: 5.94
Mean: 5.64
30
25.0
20
17.1
18.9
16.5
17.8
11.4
10
8.1
7.9
.5
2.0
3.3
1.0
1.8
2.1
.8
1.5
1.2
3.1
2.1
0
6. When my bank promises to do something by a
certain time, it does so.
Disagree strongly
Disagree
7. My bank provides the right service the first time.
Tend to disagree
Neutral
Tend to agree
8. My bank keeps accurate records of transactions
and requests.
Agree
Agree strongly
Missing
In percent
40
Commercial Banks Customer Satisfaction Survey 2012-Results
3. SERVICE QUALITYRESPONSIVENESS
Disagree strongly=1 Missing
Disagree=2
Not applicable
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
60.0
55.8
52.6
52.1
48.4
50.0
Mean: 5.68
Mean: 5.83
Mean: 5.59
Mean: 5.64
30.0
20.9
20.0
20.8
19.6
16.5
15.8
13.8
10.0
7.1
2.3
.0
0.2
0.5 1.0
9. My bank gives me prompt service
Disagree strongly
Disagree
0.2
1.2
2.6
0.2 1.0
10. Personnel at my bank is always
willing to help
Tend to disagree
16.0
7.2
5.4
4.1
16.5
Neutral
0.5
1.5
3.5
3.0
2.3
4.3 4.6
0.5
0.2
11. When I have a problem, my bank 12. Bank employees always have the
shows sincere interest in solving it
time to provide service
Tend to agree
Agree
Agree strongly
Missing
Not applicable
In percent
40.0
Commercial Banks Customer Satisfaction Survey 2012-Results
Disagree strongly=1 Missing
Disagree=2
Not applicable
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
3. SERVICE QUALITYCOURTESY
13. Customer representatives are
friendly and well-behaved
14. Employees at my bank address
complaints in a friendly manner
60
15. Employees at my bank treat
me as a valued customer
60
60
54.6
Mean: 5.58
40
40
30
24.5
Mean: 5.93
48.1
46.0
40
30
18.9
20
20
50
In percent
50
In percent
30
20.5
17.3
20
17.2
13.9
9.4
10
10
4.1
0
0.2
1.0
4.0
1.7
Disagree Disagree Tend to Neutral Tend to
strongly
disagree
agree
10.8
10
0.7
Agree
Agree
strongly
3.0
1.6
Disagree Disagree Tend to Neutral Tend to Agree Agree
strongly
disagree
agree
strongly
0.2
2.3
Disagree Disagree Tend to Neutral Tend to Agree Agree
strongly
disagree
agree
strongly
10
In percent
Mean: 5.93
50
Commercial Banks Customer Satisfaction Survey 2012-Results
3. SERVICE QUALITYEMPATHY
Disagree strongly=1 Missing
Disagree=2
Not applicable
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
60
56.8
54.2
53.2
Mean: 5.25
50
Mean: 5.97
Mean: 6.02
Mean: 4.81
Mean: 5.94
40.5
In percent
40
32.8
30
28.0
20
26.7
25.7
25.2
17.8
13.3
15.2
10.0
10
4.4
6.6
1.5
0
4.9
1.8
0.5 0.2 .3 1.0
16. My bank has convenient
opening hours
Disagree strongly
9.7 9.4 9.7
8.7
9.2
7.9
4.4
3.0
0.5 0.2
.5
1.6
3.5
5.4
1.8
.3 1.2
2.0
0.2
17. My bank takes my safety 18. My bank keeps my waiting
19. My bank takes the
20. My bank takes my privacy
very seriously
time to a minimum
confidentiality of my data very
very seriously (physical)
seriously
Disagree
Tend to disagree
Neutral
Tend to agree
Agree
Agree strongly
Missing
Not applicable
Commercial Banks Customer Satisfaction Survey 2012-Results
3. SERVICE QUALITY
ELEMENTS
Mean
7
6
Tangibles
ResponsiveReliability ness Courtesy Empathy
Overall
Service
Qualty
Disagree strongly=1 Missing
Disagree=2
Not applicable
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
12
Commercial Banks Customer Satisfaction Survey 2012-Results
4. CUSTOMER
SATISFACTION
Disagree strongly=1 Missing
Disagree=2
Not applicable
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
Mean
In percent
5.90
60
5.80
50
5.78
5.74
5.70
5.67
5.60
40
5.58
5.50
30
5.40
5.30
20
5.20
10
5.10
5.10
5.00
0
Disagree
Tend to
disagree
Neutral
Tend to
agree
Agree
Agree
strongly
22. I am satisfied with the services of my bank
23. I am satisfied with the products of my bank
24. I am satisfied with the ease of obtaining lending products (mortgages/loans/ credit cards) at my bank
25. I am satisfied with the ease of opening an account at my bank
26. Overall, I am satisfied with my bank
13
Disagree
strongly
Commercial Banks Customer Satisfaction Survey 2012-Results
5. CUSTOMER LOYALTY
27. I recommend my bank to others
50
43.8
Mean: 5.57
50
11.0
13.5
33.9
25
20
11.4
4.4
1.0
2.3
1.0
Disagree Disagree Tend to Neutral Tend to
strongly
disagree
agree
Agree
Agree
strongly
Missing
4.0
Disagree Disagree Tend to Neutral Tend to
strongly
disagree
agree
35
35
26.5
19.3
13.5
12.5
15
12.7
2.6
0.2
Neutral
Tend to
agree
Agree
Agree
strongly
Missing
Agree
strongly
Missing
9.6
10
3.1
3.0
5
0
20
Disagree Disagree Tend to Neutral Tend to
strongly
disagree
agree
Not
applicable
Agree
.3
Agree Missing
Not
strongly
applicable
45
43.7
Mean: 5.60
40
35
27.7
18.8
17.8
9.4
9.7
25
21.3
20
13.7
15.5
10
3.8
Disagree Disagree Tend to Neutral Tend to
strongly
disagree
agree
30
15
10.5
5
0
10.0
7.1
32. I am a loyal customer
25
10
4.6
Disagree Disagree Tend to
strongly
disagree
Agree
2.1
4.1
Mean: 3.22
30
15
8.1
10
18.3
50
45
40
20
4.3
23.9
20
50
Mean: 4.44
25
24.7
25
31. I am willing to pay a higher price for
a better product and/or service
30. Price (interest and fees) affects
where I bank
30
30
15
9.7
40
35
30
15
Mean: 4.28
40
30.5
10
45
Mean: 2.42
In percent
20
10
In percent
In percent
22.9
In percent
In percent
30
45
35
35
15
50
45
40
25
29. It is easy to switch banks
In percent
40
28. I am seriously thinking about
switching banks
50
45
Disagree strongly=1 Missing
Disagree=2
Not applicable
Tend to disagree=3
Neutral=4
Tend to agree=5
Agree=6
Agree strongly=7
Agree
2.3
Agree Missing
strongly
5
0
1.0
2.3
1.5
1.2
Disagree Disagree Tend to Neutral Tend to
strongly
disagree
agree
Agree
Agree Missing
strongly
Commercial Banks Customer Satisfaction Survey 2012-Results
6. CONCLUSION
Based on the outcome of the survey it can be
concluded that the commercial banks customers
were generally satisfied with the service given to
them, as 83.2 percent of the surveyed persons
stated to be, to some extent, satisfied customers.
When asked about the quality of the service, 84.5
percent of the respondents agreed up to a certain
extent with the service quality of the commercial
banks.
15
Likewise, the majority of the respondents (80.4
percent) considered themselves loyal customers.