The bank loyalty of graduates in Singapore

It has been established that bank loyalty has been the subject of only two published...

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Main Authors: Bey, Siew Leng, Ho, Kelly Hui Ling, Ng, Puay Hoon
Other Authors: Nanyang Business School
Format: Final Year Project
Language:English
Published: 2014
Subjects:
Online Access:http://hdl.handle.net/10356/58571
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-585712023-05-19T03:30:02Z The bank loyalty of graduates in Singapore Bey, Siew Leng Ho, Kelly Hui Ling Ng, Puay Hoon Nanyang Business School Philip Gerrard DRNTU::Business It has been established that bank loyalty has been the subject of only two published studies, both of these being conducted in countries where single banking is the norm. The purpose of the present study is to establish the meaning and extent of bank loyalty in Singapore where multiple banking is very widely practised. The data for the study was obtained from responses to one hundred and twenty questionnaires that were passed out to former graduates ofNanyang Technological University. The study has established that, according to a loyalty index that was developed, loyal and disloyal bank customers do not exhibit significant differences in, amongst other things, their attitude towards banks and their degree of familiarity with bank services. This finding · was inconsistent with the only other research study that has used the same approach. An alternative method was used to analyse the data, this being a probability analysis. This showed that overall, only 4.7% of the graduate sample was totally loyal to a bank. The remainder was disloyal to a greater or lesser degree. The results showed that there was higher loyalty to a person's main banker during the time spent at university compared with the period after graduation. The bank that lost the most patronage as main banker over the period of the study was the Post Office Savings Bank, while the bank that gained the most was the Development Bank of Singapore. The results have implications for all banks that operate in Singapore's retail market and should each bank wish to either maintain its share of the graduate market or make it greater, appropriate marketing techniques need to be carried out. BUSINESS 2014-04-08T04:33:07Z 2014-04-08T04:33:07Z 1995 1995 Final Year Project (FYP) http://hdl.handle.net/10356/58571 en Nanyang Technological University 72 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Business
spellingShingle DRNTU::Business
Bey, Siew Leng
Ho, Kelly Hui Ling
Ng, Puay Hoon
The bank loyalty of graduates in Singapore
author2 Nanyang Business School
author_facet Nanyang Business School
Bey, Siew Leng
Ho, Kelly Hui Ling
Ng, Puay Hoon
format Final Year Project
author Bey, Siew Leng
Ho, Kelly Hui Ling
Ng, Puay Hoon
author_sort Bey, Siew Leng
title The bank loyalty of graduates in Singapore
title_short The bank loyalty of graduates in Singapore
title_full The bank loyalty of graduates in Singapore
title_fullStr The bank loyalty of graduates in Singapore
title_full_unstemmed The bank loyalty of graduates in Singapore
title_sort bank loyalty of graduates in singapore
publishDate 2014
url http://hdl.handle.net/10356/58571
_version_ 1770566789995954176
description It has been established that bank loyalty has been the subject of only two published studies, both of these being conducted in countries where single banking is the norm. The purpose of the present study is to establish the meaning and extent of bank loyalty in Singapore where multiple banking is very widely practised. The data for the study was obtained from responses to one hundred and twenty questionnaires that were passed out to former graduates ofNanyang Technological University. The study has established that, according to a loyalty index that was developed, loyal and disloyal bank customers do not exhibit significant differences in, amongst other things, their attitude towards banks and their degree of familiarity with bank services. This finding · was inconsistent with the only other research study that has used the same approach. An alternative method was used to analyse the data, this being a probability analysis. This showed that overall, only 4.7% of the graduate sample was totally loyal to a bank. The remainder was disloyal to a greater or lesser degree. The results showed that there was higher loyalty to a person's main banker during the time spent at university compared with the period after graduation. The bank that lost the most patronage as main banker over the period of the study was the Post Office Savings Bank, while the bank that gained the most was the Development Bank of Singapore. The results have implications for all banks that operate in Singapore's retail market and should each bank wish to either maintain its share of the graduate market or make it greater, appropriate marketing techniques need to be carried out.