Banking behaviour of expatriate lecturers in Singapore.

• Main Authors: Goh, Amy., Phua, Nai Hsin., Poh, Siok Peng.
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Business::Finance::Banking
• Online Access: http://hdl.handle.net/10356/51943
• Institution: Nanyang Technological University

The competitive banking environment today forces banking institutions to continuously seek out profitable market segments. With the regionalisation of the Singapore’s economy, the growing number of expatriates forms a ready market for these institutions. In order to give a better insight of this market niche, a study on the banking behaviour of the expatriate lecturers in Singapore is initiated. The main objective of this study is to establish the bank selection criteria of expatriate lecturers and to get them to make comparison between their main banks in their home country and in Singapore. This study also includes an analysis on the expatriates’ satisfaction with their main bank in Singapore, their satisfaction regarding the important bank selection criteria, the bank selection criteria which are of concern to the banks and their bank switching behaviour. The study of the influences of certain demographic factors are also carried out for some of the above analysis. The results indicated that “provides a fast and efficient service” is the most important selection factor. Also, the respondents are generally more satisfied with the main bank in their home country than that in Singapore. It is also noted that 14.9% of the respondents had switched banks since their arrival in Singapore. From the conclusions of this study, the banks can sieve out relevant information which can assist them in developing appropriate marketing strategies to attract this group of expatriates. These findings can also be used as a guide to target other expatriate groups.