Customers' satisfaction with services of commercial banks in Slovakia

Abstract

The customers' satisfaction is determined by the loyalty and willingness to purchase bank's products. Number of researches and findings of banking experience show that banks don't understand the financial needs of its clients. Low level of satisfaction of bank's customers is determined by high turnover rate of customers and relatively low value of cross-selling activities which cause decline of sales opportunities and profits. The aim of this article is to quantify the overall level of satisfaction of Slovak customers with the services of commercial banks and present the most important factors of customers' satisfaction or dissatisfaction in relation to their gender, age and education. The customers' satisfaction research has been conducted through questionnaire survey on the sample of 320 bank's customers. According to results of our research, the overall satisfaction rate of bank's customers was 61 % in Slovakia. Our research has confirmed that the most important reason for satisfied bank's customers is the availability of bank's products and services via e-banking. The most important factor in customer dissatisfaction is the high cost of banking products and services. Research has shown that banks are interested in customers' financial needs in a low matter. According to the statements of our respondents, the bank's approach to the customers has improved during the crisis. Current value of cross-selling activities determine a significant sales opportunities of commercial banks in Slovakia.