Critical Determinants of Customer Loyality in Nigeria’s Banking Industry (A Study of UBA PLC Customer within Enugu Metropolis).

Abstract

Most financial organizations especially banks, in recognitionof the fact that customer loyality is a sure path to long term profitability, have given increased priority to efforts aimed at improving their organizations customers loyality. However, despite this recognition/attention, managements of these bankis in Nigeria, still persistently face the quandary of high customer attrition rate. In other to solve this problem this research work focused on finding the critical determinants of customer loyality in Nigeria banking industry. To achieve this objective, the following hypothesis was postulated. 1. Exceptional Customer Service does not enhance Customer Loyality in Nigeria’s banking industry. 2. Effective Customer Relationship Management does not enhance Customer Loyality in Nigeria’s banking industry. The hypotheses were eventally tested with chi-square analytical technique (x2). The major findings were; 1. Exceptional Customer Service enhances Customer Loyality in Nigeria’s banking industry. 2. Effective Customer Relationship Management enhances Customer Loyality in Nigeria’s banking industry. The research work recommended that banks should dish out exceptional services to their customers, put in place a robust customer relationship management system and must develop the habit of promptly recovering from service failures.