Customer satisfaction of loan services in Ghanaian banks: A case of Barclays Bank Ghana Limited

Abstract

The purpose of this study is to evaluate the level of customer satisfaction with loan services in the banking industry. The study uses the service quality of loan facilities at Barclays Bank Ghana Limited as a case study. Through a stratified random sampling method, seventy (70) respondents of the bank's branch in Nkawkaw in the Eastern Region of Ghana were selected to participate in the study. Questionnaires and interviews were used to measure the respondents' level of satisfaction with the bank's loan services and other service quality dimensions. The data gathered were analysed using SPSS (Version 16.0) and presented by the use of statistical models such as graphs, charts, and tables. It was observed that the customers were generally satisfied with the loan services when assessed on 12 service quality dimensions. Interest rates, account charges, company reputation and past experience with the bank were found to be important factors in attracting the customers. Existing customers are also willing to recommend the bank to their reference group. These factors are useful for strategic decisions.