CUSTOMER SERVICES IN FINANCIAL INSTITUTIONS, A STEP TOWARDS IMPROVING PROFITABILITY (A CASE STUDY OF UNION BANK PLC, OKO)

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ABSTRACT

Due to the importance of customer’s service in the business world. Many privileged organizations most especially the financial institutions are now depending strongly on it to enhance or improve their profitability. Ideas and opinions were received from staff and reputable customers of union bank of Nigerian plc, OKO branch, which was used as a case study.

These ideas and opinions were got through the use of open and close ended questionnaires, interviews, and observation. The data collected were analyzed with the use of chi-square (x2) which is a statistical technique used in comparing the differences between observed and expected frequencies. Actually, only banks with foresight with respect to customer service will succeed amidst competition.

Meanwhile, union bank of Nigeria plc will really benefit more if they take advantage of the result of this research work, here by sustaining its customers and at the same time keeping them happy.

LIST OF TABLES

Table I: Response to the question; How is Union Bank of Nigeria Plc, Oko Branch rated by its customers and the general public in terms of profitability.

Table II: Response to the question which of Union Bank of Nigeria customer service innovations are its customers aware of?

Table III: Response to the question; How do they rate them via-a-vis their ability to engender customer satisfaction?

Table IV: Response to the question; What perception do the customers of Union Bank of Nigeria Plc have of courteousness and friendliness of their staff at Oko branch.

Table V: Response to the question; What do the customers of Union Bank Plc, Oko fell about their speed of service?

LIST OF FIGURES

Figure

TABLE OF CONTENT

Title page i

Approval ii

Certification iii

Dedication iv

Acknowledgement v

Table of content viii

Abstract vi

Chapter One

1.0 Introduction 1

1.1 Background of study 4

1.2 Statement of the problem 5

1.3 Purpose of the study 6

1.4 Hypothesis 7

1.5 Scope/Limitation of the study 9

1.6 Significance of the study 10

1.7 Definition of terms 11

Chapter Two

Review of Related Literature 15

2.0 Introduction 15

2.1 Budget 15

2.2 Budgeting

2.3 Historical development pf budgeting 21

2.4 Reasons for budgeting 23

2.5 Types of budget 29

2.6 Variance Analysis 38

2.7 Importance of Variance Analysis 38

2.8 Controllable and uncontrollable cost 44

2.9 Responsibility accounting 44

2.10 Budget Administration 45

2.11 Budgetary Control 46

2.12 Objectives of Budgetary control 47

2.13 Basic requirements for a good Budgetary Control System 48

Chapter Three

Research Methodology 51

3.0 Introduction 51

3.1 Population of the study 51

3.2 Sample Size 52

3.3 Sample method of data 52

3.4 Sources of data collection 53

3.5 Administration and Retrieval of Questionnaire 53

3.6 Procedure used for data analysis 54

Chapter Four

Presentation and data analysis 56

4.0 Introduction 56

4.1 Presentation and Analysis 56

Chapter Five

5.0 Introduction 75

5.1 Summary of findings 75

5.2 Conclusion 76

5.3 Recommendation 77

5.4 Suggestion for further research 78

5.5 Limitation of the study 79

References 81

Appendix A 83

Appendix B 84

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CUSTOMER SERVICES IN FINANCIAL INSTITUTIONS, A STEP TOWARDS IMPROVING PROFITABILITY (A CASE STUDY OF UNION BANK PLC, OKO)

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