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THESIS INTERNATIONAL BUSINESS MANAGEMENT THESIS "IMPROVING THE QUALITY OF RETAIL BANKING SERVICES IN BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM - HANOI BRANCH SOUTH" ACKNOWLEDMENT First, I would like to say my sincere thank to our teachers in the Paris Graduate School of Management who have equipped me with valuable knowledge in the past I would like I would like to express my sincere thanks to the Doctor Nguyen Thanh Hieu, who has enthusiastically instructed me to complete the thesis After all, I would like to send many thanks to my friends, my colleages and my closed people who did not hesitate to spend time on support, give comments and help me during my study time I want to express my sincere thanks to all of you i DECLARATION I declare that the Thesis for Master of Business Administration "Improving the quality of retail banking services in Bank for Investment and Development of Vietnam - Hanoi Branch South" has been conducted by myself, which is reliable with clear information source written by the subjective view I'm solely responsible for the accuracy from the reference materials ii TABLE OF CONTENS ACKNOWLEDMENT i DECLARATION ii TABLE OF CONTENS iii LIST OF TABLES AND FIGURES vi INTRODUCTION CHAPTER 1: THEORETICAL BASES ON RETAIL BANKING SERVICE QUALITY 1.1 General view on retail banking services 1.1.1 Definition of retail banking services 1.1.2 Characteristics of retail banking services 1.1.3 Roles of retail banking services 1.1.3.1 For the economy 1.1.3.2 For the bank 1.1.3.3 For the customers 1.1.4 Retail banking services .6 1.1.4.1 Capital mobilization .6 1.1.4.2 Credit service .7 1.1.4.3 Card service 1.1.4.4 Payment services 1.1.4.5 Electronic banking services 1.1.4.6 Other banking services 1.2 Basic quality issues of retail banking service 1.2.1 Service quality concept .9 1.2.2 Relationship between service quality and customer satisfaction .12 1.2.3 The evaluation theory of the service quality .13 1.2.4 Retail banking services quality 17 1.2.5 Measuring the services quality of retail banking .18 1.2.6 The need to improve retail banking services quality 19 1.3 Experience of improving retail banking services quality of a number of banks in the world and lessons for commercial banks in Vietnam 20 iii 1.3.1 Experience of improving retail banking services quality 20 1.3.2 Lessons on improving retail banking service quality for commercial banks in Vietnam .23 CHAPTER II: THE CURRENT SITUATION ON SERVICE QUALITY OF RETAIL BANK AT BANK FOR INVESTMENT AND DEVELOPMENT OF VIET NAM – HA NOI SOUTH BRANCH 25 2.1 About Bank for Investment and Development of Viêt Nam – Ha Noi South Branch 25 2.2 Results of business operations of Retail banking at Ha Noi South BIDV .26 2.2.1 Capital mobilazation 26 2.2.2 Credit 28 2.2.3 Other services 30 2.2.4 Business results 31 2.3 Analyse, evaluate the actual situation of service quality of the retail banking through business results of retail banking at the Bank for Investment and Development of Vietnam - Hanoi South Branch 31 2.3.1 The quality of retail capital mobilization service 31 2.3.2 The quality of retail credit service 35 2.3.3 Quality of other service: 38 2.3.3.1 Quality of card service: 38 2.3.3.2 Quality of payment service 42 2.3.3.3 The quality of electronic banking .44 2.4 The main factors affecting the quality of retail banking services at the Bank for Investment and Development of Vietnam – South Hanoi Branch 46 2.4.1 Reliability 46 2.4.2 Responsiveness 46 2.4.3 Tangibles 47 2.4.4 Assurance 47 2.4.5 Empathy 48 2.5 Assessment of retailing service quality at Bank for Investment and Development of Vietnam at South Hanoi Branch based on the comment of iv customer 49 2.6 Review of retailing service quality of BIDV at South Hanoi Branch after investigation and analysis 54 2.6.1 Achievements in the Quality of Retail Banking Services 54 2.6.2 Restrictions on the quality of retail banking services 56 2.6.3 The cause of the limitation 56 CHAPTER III: SOLUTIONS FOR SERVICE QUALITY IMPROVEMENT IN RETAIL BANKING OF BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM –HA NOI SOUTH BRANCH .58 3.1 The development orientation of Bank for Investment and Development of Vietnam - South Hanoi Branch in the near future 58 3.1.1 The general development Orientation .58 3.1.2 The development of retail banking services 59 3.2 Several Solutions for Retail Banking Service Quality Improvement .60 3.2.1 Improving the quality of infrastructure .60 3.2.2 Solutions to improve the quality of human resources .62 3.2.3 Solutions to improve the quality of organizational management of services systems retail banking 64 3.2.4 Solutions of developing new retail services 69 3.2.5 Designing service quality standards 70 3.3 Suggesting to the State Bank and Government Offices 71 CONCLUSION .73 REFERENCES .74 APPENDIX 76 v LIST OF TABLES AND FIGURES TABLES Table 2.1: Table 2.2: Table 2.3: Table 2.5: Table 2.6: Table 2.7: Table 2.8: Table 2.9: Table 2.10: Table 2.11: Table 2.12: Table 2.13: Table 2.14: Table 2.15: Table 2.16: Table 2.17: Table 2.18: Table 2.19: Table 2.20: Table 2.21: The Situation of capital mobilization of Ha Noi South BIDV, 2007 -2011 stage 27 The Situation of credit activities of Ha Noi South BIDV, 2007 -2011 stage 29 Business results of Ha Noi South BIDV, 2007 -2011 stage 31 Expense for interests from mobilizing population’s capital of Noi South BIDV 34 Scale of individual lending service of Ha Noi South BIDV 36 The quality of retail credit of Hanoi south BIDV 37 Card sales of Ha Noi South BIDV in 2007 2011 stage 38 Number of new card issuance of Ha Noi South BIDV during 2007 -2011 stage 39 Number of ATM, POS of Ha noi south BIDV during 2007 – 2011 stage 40 Comparison oF property between domestic debit cards among banks 41 Number of payment transaction of individuals at Ha Noi south BIDV 42 Money transfer sales of individuals at Ha noi south BIDV 43 Average time to deal with payment transaction of individual at Ha noi south BIDV 44 Number of customers using modern services oF Ha Noi south BIDV 45 Data encryption 49 Classifying survey 50 Result of descriptive survey analysis 50 Result of testing Cronbach’alpha 51 Summary of the coefficient on the conformity of model 52 Result of linear regression analysis 53 FIGURES vi Figure 1.1: Model of five service quality gap 13 Figure 1.2: The theoretical study model 16 vii INTRODUCTION THE THESIS SIGNIFICANE The international economic integration has opened up many opportunities, but it also places many challenges to the banking service suppliers because they have to compete severely with foreign banks who are not only powerful on the financial potential but much experienced about modern banking service development Under the competition pressure on banking service supply and the fast IT development, the year 2010 and 2011 is evaluated to be a “booming year” on retail banking service with increased approaches to the individual customers and small and medium enterprises According to the estimate, the Vietnam population will increase by 90 million people in 2012 with the increasing income for people It is the potential market for the commercial banks, when aiming at the payment not by cash Therefore, the retail bank development strategy of BIDV- the South Hanoi Vietnam will focus specially on individual customers with various retail products which are professional and suitable to the demand and capacity of each different objects and customer segments With the aim of building the retail banking service system of high quality, safety with high economic effectiveness on the base of enhancement of international economic integration, retail banking service market expansion by through the bilateral and multilateral management, application of advance banking technology and suitable development of distribution system to provide sufficiently, timely and conveniently retail service products and utilities for all customers With the continuously changing trend of consumption according to the life demand, BIDV- Southern Hanoi Branch must build new strategy and solution to become a multi-functional retail bank For meeting the increasing banking demand in the severe competition among banks, BIDV-Southern Hanoi Branch is trying to extend the business net, increasing the retail banking service with the improved service style “customers are God”, step by step increasing the reputation and brand name of BIDV in general and BIDV-Southern Hanoi Branch in particular in the financial market From the above fact, the quality re-evaluation of the retail banking service quality of BIDV- Southern Hanoi Branch as well as supporting banks in building solutions for enhancing the retail services during the incoming time in order to increase the satisfaction of customer is very important, so I have considered and selected the thesis subject “Improving the quality of retail banking services in Bank for Investment and Development of Vietnam - Hanoi Branch South" The subject is conducted for the above objectives and hopefully the author will receive contribution ideas to complete the subject matter STUDY SUBJECTIVES: - Evaluate the real situation of the retail banking service quality of BIDV- Southern Hanoi Branch - Suggest some solutions for increasing the retail banking service quality of BIDVSouthern Hanoi Branch The main objective focuses on the Credit and Capital mobilization SUBJECT, METHOD AND RESEARCH SCOPE - Research: The quality of retail banking services in BIDV- Southern Hanoi Branch - Research methodology: Analyze main factors affecting the quality of retail banking services at BIDV- Southern Hanoi Branch, after that conducting the analysis of the customer satisfaction through practical survey, then proposing the solutions for increasing the retail banking service quality -Scope of study: The research data is to 31/12/2011 in BIDV- Southern Hanoi Branch THE PRACTICAL MEANING OF THE RESEARCH SUBJECT: Based on evaluation of retail banking service system in BIDV- Southern Hanoi Branch, analyzing the achievements and failures in the retail banking system quality, then propose the solutions for increasing the retail banking service system in BIDV- Southern Hanoi Branch 2 Total 44 65 17 133 33.1 48.9 12.8 100 33.1 48.9 12.8 100 5.3 38.3 87.2 100 PT6 PT6 – Bank’s officer wear neatly dressed, polite and impressive Frequency % Value % Value Total 44 60 28 133 0.8 33.1 45.1 21.1 100 0.8 33.1 45.1 21.1 100 % Progressive 0.8 33.8 78.9 100 Survey on the serving capacity components of the retail banking service quality Factor Average NL1 3.6767 NL2 3.8647 NL3 3.797 NL4 3.9173 NL 3.8139 NL1 NL1- Regulation Form of bank is clear and easy to understand; simple transaction procedures, quick transaction time Frequency Value Total 50 59 19 133 % 1.5 2.3 37.6 44.4 14.3 100 Value % 1.5 2.3 37.6 44.4 14.3 100 % Progressive 1.5 3.8 41.4 85.7 100 NL2 NL2- Bank’s office has good qualification and professional work Frequency % Value % Value 40 0.8 30.1 79 0.8 30.1 % Progressive 0.8 30.8 Total 67 25 133 50.4 18.8 100 50.4 18.8 100 81.2 100 NL3 NL3- Bank’s officer are very polite, considerate, willing to serve and guide customer Frequency Value Total 45 59 26 133 % 1.5 0.8 33.8 44.4 19.5 100 Value % 1.5 0.8 33.8 44.4 19.5 100 % Progressive 1.5 2.3 36.1 80.5 100 NL4 NL4- Bank’s officer is always give the best solution and satisfactorily resolved complaint of customers Frequency Value Total 34 68 29 133 % 1.5 25.6 51.1 21.8 100 Value % 1.5 25.6 51.1 21.8 100 % Progressive 1.5 27.1 78.2 100 Survey on the sympathetic components of the retail banking service quality Factor Average DC1 3.5639 DC2 3.6316 DC3 3.8346 DC4 3.9098 DC 3.7350 DC1 DC1 – Banks has effective marketing activities, impressive and lead in innovative work Value Frequency % Value % 3 80 % Progressive 3 Total 51 58 15 133 3.8 38.3 43.6 11.3 100 3.8 38.3 43.6 11.3 100 6.8 45.1 88.7 100 DC2 DC2 – Promotion, customer care program after sale work is reliable Frequency % Value % Value Total 2 57 54 18 133 1.5 1.5 42.9 40.6 13.5 100 1.5 1.5 42.9 40.6 13.5 100 % Progressive 1.5 45.9 86.5 100 DC3 DC3 – Bank’s officer always attention to customer needs Frequency % Value % Value Total 43 61 27 133 1.5 32.3 45.9 20.3 100 1.5 32.3 45.9 20.3 100 % Progressive 1.5 33.8 79.7 100 DC4 DC4- Bank’s officer guide procedure for customer full and easy to understand Frequency % Value % Value Total 35 67 29 133 1.5 26.3 50.4 21.8 100 81 1.5 26.3 50.4 21.8 100 % Progressive 1.5 27.8 78.2 100 Survey on the satisfaction demand of the retail banking services Factor HL Average 3.812 HL HL- Customers are satisfied with quality of retail banking services of BIDV Frequency % Value % Value Total 46 58 27 133 1.5 34.6 43.6 20.3 100 1.5 34.6 43.6 20.3 100 % Progressive 1.5 36.1 79.7 100 APPENDIX 2: CRONBACH’S ALPHA MEASUREMENT SCALE ASSESMENT Reliability The factor cronbach’s alpha: 0,791>0,6 so the scale is acceptable The correlation factor between the variable and the total variables is over 0.3, so it is acceptable 82 Adaptability Cronbach’s alpha factor: 0,781>0,6 , so acceptable The correlation factor between the variable and the total variables is over 0.3, so it is acceptable Tangible Cronbach’s alpha factor: 0,849>0,6 -> acceptable 83 The correlation factor between the variable and the total variables is over 0.3, so it is acceptable Demand satisfaction Cronbach’s alpha factor: 0,835>0,6 -> aceptable The correlation factor between the variable and the total variables is over 0.3, so it is acceptable Sympathy Cronbach’s alpha factor: 0,820>0,6 -> acceptable 84 The correlation factor between the variable and the total variables is over 0.3, so it is acceptable APPENDIX 3: EFA FACTOR ANALYSIS 85 86 87 APPENDIX 4: LINEAR REGRESSION ANALYSIS 88 APPENDIX 5: QUESTIONAIRES FOR CUSTOMER OPPINIONS Dear Customers! Joint Stock Commercial Bank for Investment and Development of Viet Nam – Branch of Southern Ha Noi (BIDV Southern Ha Noi) would like to wish you health and sincere thanks to our customers which select our bank during that time With the motto “always work closely with you from concept to action”, we always want to give the best satisfaction for customer Please, Customers fill out the following survey and send back as soon as possible Sincere thank you for all your help! Part I: CUSTOMER INFORMATION Full name (If possible): Gender:  Male  Female Age:  18-22 years old  23-35 years old 36-55 years old  above 55 years old Nghề nghiệp:  Housework/don’t work  Tư doanh  Officer Please add information about service which customers are using at BIDV Southern Ha Noi:  Deposit, Saving service  Credit Service (loans, guarantees, etc )  Payment Service ( cash, revenue and expenditure)  Card Service (ATM, VISA, MASTER )  Phone banking, internet banking service  Transaction of currency, gold  International payment services, money transfer  Other service To perform banking transaction, customer: 89  Go to bank to make transaction  Transaction through ATMs  Transaction through Fax  Transaction through Phone Banking  Transaction through Internet Banking Our customers have used our banking services, how long?  Less than year  1-2 years  years  over years How many bank have customer used services?  bank  banks  banks  banks Highlights of BIDV Southern Ha Noi compared to other banks that you pay attention, impressive?  Modern equipment and machinery  Bank’s products and services are varied, multifarious and consistent  Reasonable transaction fee table, flexibility pricing policy and competitive rates  Bank’s officer is friendly and enthusiastic Part II: QUALITY ASSESSMENT OF RETAIL BANKING Please, Customer give your consent for following statement about the quality of retail banking service of BIDV Southern Ha Noi in during that time, by making X or  in a appropriate blank below: Quality of retail No banking service Bank has Completely Disagree multiple, convenient branches and transaction office Bank has modern ATM 90 Disagree Nomal Agree Completely Agree system and easy to use Bank’s products and services are varied, multifarious and consistent Regulation Form of bank is clear and easy to understand; simple transaction procedures, quick transaction time Bank has modern equipment and machinery, full facilities ( waiting chairs, books, drinks, etc….) Internet site has full of information, product brochures is eye – catching and attractive Bank’s officer wear neatly dressed, polite and impressive Bank’s office has good qualification and professional work Bank’s officer are very 10 polite, willing considerate, to serve and guide customer Bank’s officer is always give the best solution and satisfactorily 91 resolved complaint of customers Officer 11 made transactions accurately and quickly Bank’s officers always 12 13 14 serve justice to customers Bank’s officers all don’t annoy for customers Bank’s officers don’t prove too busy to serve customers Bank keep information 15 16 and transaction customer Bank provide services at the time committed Bank apply flexibility pricing 17 of policy, competitive rates and reasonable transaction fee table Bank always keep its reputation 18 with customers and consider benefit of customer is the most important Banks has effective 19 marketing activities, impressive and lead in innovative work 92 Promotion, 20 customer care program after sale work is reliable Bank’s officer 21 attention needs Bank’s 22 to always customer officer guide procedure for customer full and easy to understand Customers are satisfied 23 with quality of retail banking services of BIDV Southern Ha Noi Part III: OTHER COMMENTS ( In addition content below, customers also have other commnents, please specify below intended to help BIDV Southern Ha Noi enhancements to provide customers with quality banking product and services better) Sincerely thank you for the comments of customers! We wish you health and prosperity 93 ... of Noi South BIDV 34 Scale of individual lending service of Ha Noi South BIDV 36 The quality of retail credit of Hanoi south BIDV 37 Card sales of Ha Noi South BIDV in 2007 2011... brand name of BIDV in general and BIDV- Southern Hanoi Branch in particular in the financial market From the above fact, the quality re-evaluation of the retail banking service quality of BIDV- ... at Ha Noi south BIDV 42 Money transfer sales of individuals at Ha noi south BIDV 43 Average time to deal with payment transaction of individual at Ha noi south BIDV 44