Application of Some Multivariate Techniques On Nexus Between Banks Performance and Consumers Satisfaction

Okoli, C.N. and Effiong, I.U. (2023) Application of Some Multivariate Techniques On Nexus Between Banks Performance and Consumers Satisfaction. European Journal of Statistics and Probability, 11 (1). pp. 1-19. ISSN 2055-0154(Print), 2055-0162(Online)

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Abstract

In Nigeria, commercial banks play a significant role in economic growth. Every bank wants to keep its customers satisfied in other to have an edge over competitions. The researcher looks at Application of some multivariate techniques on nexus between banks performance and consumers satisfaction. Three commercial banks (UBA, UNION and ZENITH) were used for the period 2004 to 2021. The objectives of the study are to find out if there is significant connection between banks performance and consumers satisfaction; to compare banks performance and customer satisfaction using related variables also to ascertain which bank is better than others in efficiency. R software was used to analyze the data using three multivariate Techniques. The result showed that there is a positive correlation of r=0.9891 indicating a strong connection between banks performance and customers satisfaction. Further result showed that Zenith bank performed best with Total Liability (26.7) and Total Asset (16.8) having more influence on performance variable and No of ATM (1.6), Total Shareholders’ Equity (1.2) and Product/services (1.1) having more influence on satisfactory variables. The result equally revealed that two factors were sufficient for zenith with factor 1 having 51% and 7 variables loading positively to it. Factor 2 had 42% with 8 variables loading positively to it. The result for UBA followed with Total Liability(12.3) and Total Asset(2.02) having more influence on performance variable and No of ATM(1.001) and No of branches(1.52) having more influence on satisfactory variables. Two factors was sufficient for UBA with factor 1 having 75% and 8 variables loading positively to it. The least Bank was Union Bank with Total Liability(2.8) and Total Asset(2.5) having more influence on performance variable and No of ATM(0.7), No of branches(0.9) having more influence on satisfactory variables. One factor was sufficient for Union with factor 1 having 44% and 7 variables loading positively to it. From the results found, it is evidently clear that Zenith Bank is better and more efficient than the others in this study.

Item Type:	Article
Subjects:	Q Science > QA Mathematics
Depositing User:	Professor Mark T. Owen
Date Deposited:	14 May 2023 01:04
Last Modified:	14 May 2023 01:04
URI:	https://tudr.org/id/eprint/1742

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