ABSTRACT
This is a
research into the nature of banking services to find out the reason and suggest
toward the performance creditably in banking services.
Having carried out an intensive
research I cam to the following recommendations/conclusion.
The customers can do without the banks
but the banks cannot do without the customers. Therefore the bank staff should
be polite and honest enough to the customers, attending to them promptly and
not regarding services rendered as favours done to them.
Bank services must be sold like any
other product, and product life cycle evident in other industries must be
allowed its rightful place in the banking industry as well.
Therefore, unlike one predecessors who
confined themselves to the branch, we must have to put on the apron of salesmen
to give our services the advertisement it required, adjusting to changing
environment customers demands. And above
all, the customer is always right.
PREFACE
To keep pace
with the ever-increasing demand of business for diverse bank services there
have been over the pas few years, a continuous and general modernizing of
approaches to the nature of bank services.
In the past
few years there has been evidence the appearance and acceptance of recently
produced write up to review and up-date the changes that has taken place in the
nature of bank services.
The point is
that the traditional or so-called old approaches no longer have a place on this
subject. Nature of banking
services. How ever, my idea is that
there has been an in balance between the old approaches of banker themselves
they render and the modernized approach where the banker assumes more of the
role of a salesman as required by the changing business environment.
APPROVAL
PAGE
INSTITUTE OF MANAGEMENT AND TECHNOLOGY, ENUGU
This is to
certify that this project work nature of banking services in Nigeria
submitted by Adoh Rita BKT/N2002/099 has been approved and accepted in partial
fulfillment of her requirement for the award of a national diploma in financial
studies.
Mr. Ikecheonwu B.T. Dr.
John Orjih
Project Supervisor Head
of Department
Date:……………………. Date:………………………..
Mr. Okorie
Onovo
Director School of
Financial Studies
Date:……………………………..
TABLE OF
CONTENT
Dedication
Acknowledgment
Abstract
Preface
CHAPTER ONE
INTRODUCTION
1.1
Background of the study
1.2
Statement of the problem
1.3
Purpose and objective of the study
1.4
Significant of the study
1.5
Limitation of the study
References
CHAPTER TWO
2.0 Review of
related literature
2.1 Bank services
nature
Reference
CHAPTER THREE
3.0 Research design
and methodology
3.1
Sources of data (Secondary source only)
3.2
Location of data
3.3
Method of data collection
Reference
CHAPTER FOUR
4.0
Findings
CHAPTER FIVE
5.0 Recommendation
and conclusion
5.1
Recommendation
5.2
Conclusion
CHAPTER ONE
1.0 INTRODUCAION
The nature of
banking services in the last few decades has made itself felt in almost every
phase of human activity. The changes
which have occurred in recent years in the environment respecting demands of
customers for bank services in enough justification for reviews and changes in
the method of banking procedures. I must
first of all like its to realize that a new era has been born in the role of
banking services in Nigeria.
1.1 BACKGOUND OF
THE STUDY
Sometimes in
the past, it was fashionable for bankers to confine themselves to the fore
walls of the bank expectation business to come to them. No wonder then the traditional view as summed
up along ago by George Rare had this to say: “…….it is for its customers to
come to the bank, and not for the bank to go to them…. The Manager has to be so
much a fixture in the office, during the business desks or the bank counter, we
as banker, must be sensitive to changing public demand and aspiration whether
they are desire to obtain improved services or new ones.
The concept of
product life cycle, evident in other industries should be allowed is pride of
place in banking industry as well. Fresh
and tempting products must be introduced, but equally, it must be expected that
service will be removed form the range from time to time as and when the
situation warrants. The fact remains
that bank services nature must be sold just like any other nature product.
It is the view
of some people and correctly too that the introduction of the word nature
changes the operational zone of the banker just as every other natural thing
takes up a metamorphose changes. We need
to bring to light the differences between the modern bank manager status in the
apron of a salesman and the old fashioned transfer who are yet to realize that
the nature of bank services is now a case of the buyer’s own lot and not the
seller, who only sells out when business only comes to him in the office. Thus, whatever, services and special skills
or strengths a bank possesses there is needed to advertise the name of the bank
and the services it can render to the public.
1.2 STATEMENT OF
THE PROBLEM
The efficient
nature of bank services is indispensable if economic development becomes a
must. This work is therefore aimed at
studying the staff – client relationship with special emphasis on how this
relationship affects their performance in such areas as courtesy, prompt attention
to clients, professional guidance and communication.
(a) COURTESY:
This is the act of being polite and accommodating in all dealing of
staff with customers. The staff should
render to use the right choice of words, as carelessness and uncooperative
attitude will leave the customer unsatisfied.
(b) PROMPT ATTENTION TO CLIENTS: Bankers should attend to their customers with
minimum delay. Long queues in banks are
not ideal to the nature of our banking services and should be curbed.
(c) COMMUNICATION: The need for an efficient communication
system for easy transfer of money, clearing of cheques and contact with
customers when desired etc cannot be over emphasized
(d) PROFESSIONAL
GUIDANCE: This is the area the banker
are expected to exhibit their professional competence. For a banker to be able to advice
competently, on whether to invest or not the should not limit his appraisal of
the customers performance to an – examination of the historical balance sheet
alone, as some people still do. This has
come for us to be conversant with such things as budgets, cash flow forecast,
overhead allocation, costing, capital budgeting etc.
1.3 PURPOSE AND OBJECTIVE OF THE STUDY
The following reasons are the
statement of objective.
§ Considering
the invaluable help the efficient nature of diverse bank services and be to our
economic development banks should not be left to be infested with surmountable
problems, which hinder their performance.
§ Customers
can exist without banks but banks cannot function without customers. Thus the objective of this research is to
show clearly, the place of bank customers in the continued existence of banks
in operation and the staff is secured employment.
§ It is a
well recognize maxim in the nature of banking services that the customer is
always right how far have the banks been able to live up to the demand of this
maxim. It cannot be disputed that to
establish peoples bank; customer satisfying service be comes highly necessary.
§ Our
commercial banks are accused of gross inefficiency. Given that there are some endogenous causes
are there some exogenous contributory factors to this poor performance of our
banks.
All these and others are the questions the researcher is
interested in finding out solution to.
1.4 SIGNIFICANT
OF THE STUDY
The study is
significantly shown as follows
§ It is my
considered opinion that the quality of our banking services are naturally not
adequate, and certainly not close to the standard obtainable in most developed
countries.
§ Some of the
causes for these poor services are not inherent in the nature of banking
industry but should be blamed on the underdeveloped state of some countries’
economy, especially in Nigeria.
§ Our
commercial banks are still operating on the Orthodox system of banking only but
a few have gone a little bit legend.
This means that they are tradition oriented and adhere strictly to set
out rules. Unlike the unorthodox system
of banking obtainable in the United State of America.
1.5 LIMITATION OF
THE STUDY
Most
of the contributions to this work were mainly drawn from views expressed in
seminars, journals and textbooks. I
occasionally had oral interviews with some bank staff and customers in
Abakaliki, Enugu, Kaduna
and Lagos. Much use was also made of my experience as a
customer to First Bank of Nigeria Limited.
Lack of finance though, contributed to the limitation of this study
since I could not travel more to obtain more information.
The
library is not even helping matters since the type of textbooks found there are
old books and current happening cannot be extracted for the intensiveness of
this study.
All these plus
others placed me in an un-advantageous position to appreciate the study and to
know that customers while trying to obtain bank services faces a grate ordeal
as well as the problem encountered by banks while rendering quality services to
their clients.
REFERENCES
1. G. RAE
(1990): The country bankers Munay.
2. P. Drucker
(2001): Banking for profits; the
efficient use of resources
Cambridge seminar.
3. Esione R.C.
(1997): Customer satisfaction revisited
popidi bank news vol.
No. 12 June
4. Adesunloy M.O.
(1997) Role of Markding banking: Times vol. 1, No. 11
December.
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