CUSTOMER SATISFACTION IN BANKS (A STUDY OF SELECTED BANKS IN ETHIOPIA.)

Transition of Banks from Class banking to Mass Banking and thrust upon profitability in recent period has led them towards customer orientation. Now, it is the duty of every banker to accept their customer’s as “King” to serve in the present era of cut-throat competition. With the advancement of science and technology, our world has reduced to a global village. Thus, change is inevitable and desirable. In such a situation, customer orientation has become the key word for competitive success. The need for introducing efficient customer service in the banking industry is now keenly felt by all concerned. Considering the importance of this, the chiefs of all banks advised to conduct immediately a survey of customer service in their banks and to submit the findings also, which helps them to take strategic decisions regarding customer services and measures to satisfy customers. Bankers are to compete with others for its survival and business opportunities. One of the indicators to evaluate the performance of banks is the customer service they provide in spite of deposits, credit management, social banking, reserve requirements, housekeeping and at last profitability. In the above factors except in customer service all achievements can be quantified and measured. There is also a tendency among banks, to take it for granted that good customer service prevails in the absence of complaints from its customers or putting in other way customer service is measured by the number of complaints received on a particular branch functioning. Realizing the importance of customer service in banks, various committees were appointed to study the customer service in banks and to make recommendations to improve the same. The need of this study is to bring out to what extent the selected banks cater the need of its customers with the twin objectives of 1. To understand how far the physical facilities is feasible and 2. To elicit the opinion of the customers on their satisfaction of the selected branches. Key Words: Customer, Satisfaction, Services, Banks, Grievances, etc.,