This chapter presents the summary of this study, the findings derived out of the data, and the conclusions and recommendations for the study.
Summary of Findings
The Industrial and CommercialBankof Vietnam (VietinBank) isone of thelargestcommercial banksin Vietnamwitha long historyof development.Howeverthe explosion ofcommercialbanksis stillmajor challengestobecomecommercial banksinimproving thequality of servicecredit.
This studyused a modelofservicequalityParasuramanet al(1985;
1988)is applied tothe creditqualityservicesatVietinBank-Red River DeltaRegion. Statisticalanalysis tools such asreliabilityanalysis, factor analysis, regression analysis,andANOVAanalysiswere used to process the responses of the368customersof VietinBank of the Red River Delta area who were surveyed.
First,fromtheliterature reviewofrelevantresearch, the theoryofservicequalityof Parasuramanet al(1988) andother studieswereidentifiedtocreatecreditqualityserviceof VietinBank. These componentsinclude:tangible, reliability, assurance, empathy, responsivenessandcredit profile.
Second,Parasuraman’sSERVQUALscale served as the basis for thescalethat assessed thequalityof credit services of VietinBank. From theresults ofscaleanalysisandfactor analysis,six (6)componentsof creditqualityserviceatVietinBank were identified.
79 Third,through regression techniques, the researchanalyzedthe impactofthecompositionof creditqualityservicesatVietinBank as tothe customer'ssatisfaction.
Fourth, theresults oftestinghypothesesabout the
relationshipbetweenservicequality components,
demographiccharacteristicstothe satisfactionof thecustomer's creditqualityVietinBankshows6componentsofquality of servicecreditaremarkedas expected(+ sign) in theregression model. This
suggests that, componentsof
creditqualityservicesatVietinBankpositivelyimpactcustomersatisfaction, consistent with the original hypothesisposed.
The test results show that there isnodifference insatisfactionbetweenmaleandfemalecustomers, betweencustomersofdifferent age groups; andbetweenthecustomer groupswithcharacteristictype of enterprise. However, there were differencesbetweenthe qualities ofservicesbetweencustomer groupswithdifferentlevels of education.
In Vietnam, although the qualityofcreditdo notstudiesinVietinBank-Red River Deltaarea.Comparedwiththestudy ofservice qualityinotherbanks, such as: SaigonJoint StockBank(SCB), AsianBank(ACB), etcresearchershave foundanumber ofthe followingmain findings:
First,the majority ofcustomersaretransactions withVietinBankcorporate customers, who have much timetransactions withthisbank.Most ofthebusinessestradingatVietinBankare privateenterprisesandnon- statebusiness corporations.State-owned enterprises(the state capital) accounts for onlya small fraction.
80 Second,creditloansare mostlyunder5billion. These loans aremainlycomplementary for businessesin thecapitalandprocurement of machinery andequipmentforproduction and businessactivitiesoftheenterprise.
In addition,enterprisesalsousethese loansforother purposes, such asin the construction of buildings.However,forthe purpose ofthisloanis negligible.
Third,the
accessibilitythecreditofVietinBankstillshowcertaindifficultiesfortheenterprisescu stomer. ThedifficultyinVietinBankloansis that borrowingconditionshavesecured assetsforthe mortgage.
Fourth,the natureofservice qualityoftenchangevery rapidlyover timedue to theincreasingdemandsofcustomers and thedifferencebetweenthebanks.
Therefore,the use ofmodelsofservicequalityof Parasuramanet al(1988) show significant differencebetween the studiesinVietnamand the world.
Researchhasfound that, in addition to
5componentsofservicequalityParasuramanet al(1988) thequality of servicesinVietinBank-Red River Deltaregionalso hasa"creditprofile"
component.
Thesecomponents that make
upqualityofservicecreditVietinbankinclude: sympathywith5observed variables, reliabilitywith5observed variables, tangiblewith7observed variables, assurancewith5observed variables, responsewith5observedvariablesandcredit profilewith4variationsobserved
Inthecreditquality components, the composition of this"response"
havea positiveimpact onthe level of(+) andhavethe greatest impacttocustomersatisfaction(regression coefficientβ=0.590), reliabilityalso
81 hasa positiveimpactandthe second largestinfluence(regression coefficientβ=0.141) andcomponent"credit record" lowimpact(regression coefficientβ=0.120). Researchmodelexplains that37.70% ofthe variationhappeninthe "reliability", "response" and"credit profile"
ofcustomersatisfactionfor the qualityofservicecreditVietinBank.
Finally, there were differencesbetweenthegroups of customerswithdifferentlevels of educationon thequality of servicecreditatVietinBank. This suggeststhat, whilethe levelofeducationthe higher thecustomerneedsresponsequality of serviceinthe greaterVietinBank.
Conclusions
Based on the findings, the following conclusions were drawn:
1. A theoretical basison servicequality, serviceapproach, quality of
service, service qualityofbankcredit,
customersatisfactionandrelationshipqualityis established through the data gathered from the customers of VietinBank.
2. A strategicresearch model was developed which istypicallyrelated tothe quality ofbankingservicesingeneralandthe creditquality ofparticularservices. Themodelcan be used as atypicalanalyticframeworkforthesis.
3. Elementsof creditqualityin theservicesthatis partVietinBank, i.e.-"credit profile" has beenadded tothecomponentservice qualityby theParasuramanet al(1988).
4. Acomponentofquality of
servicecreditatVietinBankreallyaffectscustomersatisfaction, including:
reliability, responsivenessandcredit profile.
82 Demographiccharacteristicssuch as: gender, ageofcustomers as well asbusiness typeshowsnodifference inthe satisfactionofquality of servicecredit. However,educationofconsumers may bedifferentbetweendifferent educationalgroups:
groupqualifiedgraduatewithcollegeeducationgroups-universities, schoolgroupsandgroups withlower secondary schoollevel.
Recommendations
Based on the conclusions, the following recommendations are hereby offered:
1. Networktransactionstothedistrict/townintheprovince inthe Red River
Deltaarea must be established. The fact
thatthetransactionnetworkVietinBankweak, and focuses onlyina fewlargecities, makesaccess tobankservicesto customers limited.
2. ATMs andPOSmachinesmustoffer oldand thenewtransactions.
Althoughin the past, VietinBankshowedefforts in developing itsATMnetwork,thePOSandATMmachinesare mainlyconcentrated inthecity/townor in populatedplaces.
3. ATMs, POSshould be upgraded to ensuregoodoperationandease of useof themachine. SincetheATMtransactionprocedureis stillcomplicated, thefunctionofATMshouldbe redesignedfor ease of use.
Improvingthereliabilityofservice providersof VietinBank
Resultanalysisanddiscussionshowed, reliabilityis a factoraffectingthe second largestandthepositiveimpactofcustomersatisfactiononservice
qualityinbankcredit. Statistical resultsfor
83 thescalecomponentreliabilityalsoshowedthat customersratedth service reliability quitelow, even lower than thepoint averageofscales. So to enhancecustomerreliabilityforVietinBank, itsleadersneedto focus onthemainissue, whichis:
First, they shouldimprovethe image ofVietinBankforcustomers tocustomersalwayshavesympathyforthebank'sservices. Changing the company imageandbrandwillcreatecustomerconfidence. Therefore,right nowVietinBankshouldhavethebasic solutions: (i) There should bea criteriaandstandardswhenchoosinglocationsfor the establishment of branches.
Priorityshould beto buy landto buildofficesinsteadof leasing,iffinancialconditionsallowto ensurethe autonomyand stabilityin equippingfacilitiesforbanks;
Second,in the process ofproviding services theyshouldcreate a customer-center to ensurethatall customersequallyandfullymeettheir demandsin the process ofservice providers.In addition,information oninterest ratepolicyshouldbe timelyandaccuratetofulfillcustomercommitments.
Third, the management should increase capacity building of the staff of VietinBank to ensure service quality. For quality of service credit at the bank, the the human factor is even more important. To continue to uphold what has been achieved, the Board Directors of VietinBank should continue the particular solutions following: (i) policies to attract who are good at, talented person, person have the capacity to operate banking services from other banks, and other sectors of the university; (ii) remuneration policy, the layout and the use human good work experience, facilitate and promote good professional working atmosphere in the branch; (iii) Strengthening the
84 application of the model employ foreign experts in the field of banking services to the bank.
Improved of procedures in the credit profile of VietinBank
The results of analysis have shown that, component "credit file" have a positive impact on customer satisfaction when using the services of VietinBank credit and statistically significant at the 5% significance level. So the improving the procedures for credit profile will help customers easily make loans of bank credit.
The reform of administrative procedures for service credit to reduce troubles and the time taken by customers may be done. From the results of the study the administrative procedures for service credit VietinBank is now more troublesome for customers. Therefore to create favorable conditions for the development of manufacturing enterprises the management should promote reform processes, administrative procedures services related to credit of VietinBank. VietinBank leaders should to focus on solving the problems that include: (i) Reduce paperwork and procedures related to the provision of credit services, ensure simplification, transparency provisions related procedures such as loans, procedures for card services as well as the different stages of the bank; (ii) process should provide tabulations, template made up of bank websites so that customers can access information capture, declaration and perform. This will contribute actively to creating conditions that are favorable to the customer on time perform in banking services.
Improvedassurancein the provisioncreditservicesofVietinBank
85 Althoughfactors of"assurance" show nostatistical significancein theregressionresultsin the1% significance level, butthequality ofingredientsisimportanttothe impactofcustomersatisfactiononservice qualityofVietinBank. Toimprovethis assurance, VietinBankshouldconcentrate on implementingsomemain issues:
Firstly, it has diversifiedcreditproductsto constantly improvesthe quality ofbanking services. The realityofbankassuranceis that thecreditquality of the servicestill hasmany shortcomings, such as: productgroupconsumer creditenterprises, productgroupof international paymentsVietinBanknot yetenough attention, consumer loansis still limited.
Second, there is aneedto reducetransaction costsforcustomers. The competition betweenbanksfortransaction costsshow major challengesforVietinBank. As to transaction costs,thecustomer
careservices,promotional giftspolicyhas not
beenappreciated,withlowqualityfactor.
With thesethe solution above,
responsibilitiesanddedicationofleadershipVietinBankatthebranchof theRed River Deltaregion, wouldcertainlyproducepositive results, promote theadvantagesofbankinglong historyin improving thequality of serviceand thecreditquality ofparticularservicesinVietinBankinthe coming years.
Directionssubsequent studies
Although there havebeen many attemptsin collectingandsurveythe dataqualitycredit servicesinVietinBank-Red River DeltaRegion. However, thesamplesizeis small comparedwith the scale ofenterprise
86 customersusecreditVietinBankservicesinthis areabecause ofthe limitationof timeandfinancial resourcesdespiteinheritingadvantagefromearlierstudies.
Besides, componentsmeasuringservice
qualitycreditquantitativeperspective inVietinBank just at thelevel ofsurveyatthelocalRed River Deltaareainashortstage, scalecomponentof creditqualityservicehave not yet reachedtheunidirectional, toexplainthe levelofthe variablesin theresearch modelare not high. Furthermore, thesolution thatthe researchersuggestsmainlyfromthe perspective ofaccessthroughregression analysisandsetting suspectthatthere aremethodsandother approachesthat are valuableandmore persuasive, whilethere is a need for research oncreditquality of the service, such asstructural equationmodels to be done.
87
REFERENCES
Arasli, H., Mehtap-Smadi, S. & Katircioglu, S.T. (2005). Customer service quality in the Greek Cypriot banking industry. Managing Service Quality,Vol. 15, pp. 41-56
Aldlaigan, A.H. &Buttle, F.A. (2002), SYSTRA-SQ: A new measure of bank service quality. International Journal of Service Industry Management, Vol.13, pp.362-381
Avkiran, N.K. (1994), Developing an instrument to measure customer service quality in branch banking. International Journal of Bank Marketing, Vol.
12 , pp. 10-18.
Bahia, K. &Nantel, J. (2000), A reliable and valid measurement scale for the perceived service quality of banks. International Journal of Bank Marketing, Vol. 18, pp. 84-91
Brady, M.K., Knight, G.A., Cronin, J.J., Tomas, G., Hult, M. & Keillor, B.D.
(2005), Removing the contextual lens: a multinational, multi-setting comparison of service evaluation models. Journal of Retailing, Vol.81, pp. 215-230.
Barsky, J., & Nash, L. (2003), Customer satisfaction: Applying concepts to industry-wide measures. Cornell Hotel and Restaurant Quarterly, 44, 173-183.
Berry, L.L., Zeithaml, V.A. and Parasuraman, A. (1985), “Quality counts in services, too”, Business Horizons, May-June, pp. 44-52.
Blanchard, R.F., Galloway, R.L., (1994) "Quality in Retail Banking", International Journal of Service Industry Management, Vol. 5 Iss: 4, pp.5 - 23
Bollen, K.A. (1989), Structural Equations with Latent Variables, New York:
John Wiley & Sons, Inc
Brady, M.K., Knight, G.A., Cronin, J.J., Tomas, G., Hult, M. & Keillor, B.D.
88 (2005), Removing the contextual lens: a multinational, multi-setting comparison of service evaluationmodels. Journal of Retailing, Vol.81, pp. 215-230.
Cronin, J.J. and Taylor, S.A. (1992), Measuring service quality: a re- examination and extension. Journal of Marketing, Vol. 56, pp. 55-68.
Cook, C. and Thompson, B. (2001), Psychometric properties of scores from the web-based LibQualþstudy of perceptions of library service quality.
Library Trends, 49, 585-604. Cronin and Taylor 1992).
Chiao, Y.C. &Bei, L.T. (2006), The determinants of customer loyalty: an analysis of intangible factors in three service industries. International Journal of Commerce and Management, 16, 162-77.
Fen, Y. S. & Meillian, K. (2005), Service quality and customer satisfaction:
Antecedents of customer’s re-patronage, Sunway Academic Journal.
Vol. 4, p.60-73.
Gerbing, D. and Anderson, J. (1988), “An updated paradigm for scale development incorporating unidimensionality and its assessment”, Journal of Marketing research, Vol. 25, pp. 186-92.
Gronroos, C. (1982), Strategic Management and Marketing in Service Sector , Marketing Science Institute, Cambridge, MA.
Gronroos, C. (1984), A service quality model and its marketing implications.
European Journal of Marketing, 18, 36-44
Gronroos, C. (1990), Service Management and Marketing, Lexington Books, Lexington, MA.
Guo, X., Duff, A. and Hair, M. (2008), Service quality measurement in the Chinese corporate banking market”, International Journal of Bank Marketing, 26, 305-27.
Hair Jr., J. F., Anderson, R. E., Tatham, R. L. & Black, W. C. (1998), Ultivariate data analysis with readings. (4th ed). New Jersey: Prentice Hall Inc
Heskett J.L., Sasser W.E., & Hart C.W.L. (1990), Breakthrough Service. The Free Press, New York.
Hoang Trong - Chu Nguyen Mong Ngoc (2005), Analysis ofstudydatawithSPSS.PublisherStatistics.
Hoelter, J. W., (1983), Factorial Invariance and Self-Esteem: Reassessing Race and Sex Differences, Social Forces, 61(3), pp. 835-846.
http://investor.VietinBank.vn/FinancialReports.aspx
89 Jabnoun, N. & Al-Tamimi, H.A.H. (2003). Measuring perceived service quality at UAE commercial banks. International Journal of Quality & Reliability Management, Vol. 20, pp. 458- 472
90 Johnston, R. (1995), The determinants of service quality: satisfiers and dissatisfiers. International Journal of Service Industry Management, 6,53-71.
Jiang, J.J., Klein, G. and Crampton, S.M. (2000), A note on SERVQUAL reliability and validity in information system service quality measurement. Decision Sciences, Vol. 31, 725-44.
Johnston, R. and Lyth, D. (1991), “Service quality: implementing the integration of customer expectations and operational capability”, in Brown, S.W., Gummesson, E., Edvardsson, B. and Gustavsson, B.
(Eds), Service Quality: Multidisciplinary and Multinational Perspectives, Lexington Books, Lexington, MA.
Kilbourne, W.E., Duffy, J.A., Duffy, M. and Giarchi, G. (2004), The applicability of SERVQUAL in cross-national measurements of health-care quality.
Journal of services Marketing, 18, 524-33.
Kotler, P., (2001), Marketing Management Millenium Edition, Tenth Edition, Prentice-Hall, Inc.A Pearson Education Company Upper Saddle River, New Jersey.
Kotler, P., Armstrong, G. (1999), Marketing: An Introduction, Pearson US Imports & PHIPEs
Lam, T.K.P. (2002), Making sense of SERVQUAL’s dimensions to the Chinese customers in Macau. Journal of Market-focused Management, Vol. 5, pp. 43-58.
LeVanHuy&PhamThiThanhThao(2008),Consolidationmeasuresandindicatorss etprioritiesto improvequality of service: The studyillustrated inthe banking sector, Journal ofBanking. (No: 23). Tr.18-23.
Lee, H., Lee, Y. & Yoo, D. (2000), The determinants of perceived service quality and its relationship with satisfaction, Journal of Service Marketing, Vol. 14, Number 3, p.217-231.
Lee, M. & Ulgado, F.M. (1997), Consumer evaluations of fast-food services: a cross-national comparison. Journal of Services Marketing, Vol.1, pp.
39-50. Mels et al. 1997;
Lewis, R. and Booms, B. (1983), ‘The Marketing Aspects of Service Quality’, in L.L. Berry, L.G. Shostack and G.D. Upah (eds) Emerging Perspectives on Services Marketing, pp. 25–8. Chicago: American Marketing Association.
Lotfollah Najjar, Ram R. Bishu (2006), ‟Service quality: A Case Study of a Bank‟‟, The Quality Management Journal, 13, 3, 35-44.
Nam, S. (2008), Service quality in retail banking. The Journal of American
91 Academy of Business 13, pp. 223-230.
Negi, R. (2009), Determining customer satisfaction through perceived service quality: A study of Ethiopian mobile users, International Journal of Mobile Marketing; Vol.4, Number 1; p.31-38.
Nunnally, T. C., &Burnstein, I. H. (1994), Psychometric theory (3rd ed.), New Yourk: McGaw – Hill.
Oliver, R.L. (1993), “A conceptual model of service quality and service satisfaction: compatible goals, different concepts”, in Swartz, T.A., Bowen, D.E. and Brown, S.W. (Eds), Advances in Service Marketing and Management: Research and Practice, JAI Press, Greenwich, CT, pp. 65-85.
Oliver, Richard L. (1997), Satisfaction: A Behavioral Perspective on the Consumer. New York: The McGraw-Hill Companies, Inc
Othman, A. & Owen, L. (2001), Developing an instrument to measure customer service quality SQ in Islamic banking. International Journal of Islamic Financial Services, Vol 3, pp. 1-26
Parasuraman, A., Zeilthaml, V.A and Berr, L.L. (1985), A conceptual model of service quality and its implication, Journal of Marketing, Vol.49, Fall, pp.41-50.
Parasuraman, A., Zeithaml, V.A., and Berry, L. L. (1988), “SERVQUAL: a multiple item scale for measuring consumer perceptions of service quality”, Journal of Retailing, Vol. 64, Spring, pp., 12-40.
Parasuraman, A. (1991), “Understanding Customer Expectations of Service,”
Sloan Management Review, Journal of Retailing, 32 (3), 39–48.
Parasuraman, A., Zeilthaml, V.A and Berr, L.L. (1994), Reassessment of expectations as a comparison standard in measuring service quality:
implications for future research, Journal of Marketing, Vol.58, pp. 111- 124.
Parasuraman, A., Zeithaml, V. and Berry, L.L. (1993), “Research note: more on improving service quality measurement”, Journal of Retailing, Vol.
69 No. 1, Spring, pp. 140-7.
Phạm Hong Manh, Ha ThiThieu Dao (2010), Factorsaffectingtheuse ofloansand credit servicesinbankingofficialforfishermenin thecoastalprovinceof KhanhHoa, Journalof Agriculture andRural Development, (No. 18), p. 27-32.
Philip Kotler (2003), Marketing Management. PublisherStatistics.
Philip Kotler& Armstrong (2004), themarketingprinciples. PublisherStatistics.
92
Raykov, T., &Widaman, K. F. (1995), Issues in applied structural equation Research modeling research. Structural Equation Modeling, 2, 289- 318.
Robinson, S., (1999), "Measuring service quality: current thinking and future requirements", Marketing Intelligence & Planning, Vol. 17 Iss: 1, pp.21 - 32
Ruyter, K.D., Bloemer, J., and Peeters, P. (1997). Merging service quality and service satisfaction: an empirical test of an integrative model. Journal of Economic Psychology, 18, 387-406.
Saravanan, R. &Rao, K. S. P. (2007), Measurement of service quality from the customer’s perspective – An empirical study, Total Quality Management, Vol. 18. No. 4, p.435-449.
Sasser, W. E., Olsen, P., Wyckoff, D.D., (1978), Disigning the service firm oganization, In: Management of Service Operations, Allynr Bacon, Boston, MA.
Satisfaction and Relationship-Oriented Outcomes,” 9 (2), pp. 155–68.
Shemwell, D. J., U. Yavas, and Z. Bilgin (1998), “Customer-Service Provider Relationships: An Empirical Test of a Model of Service Quality, Spreng, R.A. and R.D. Mackoy (1996), An Empirical Examination of a Model
of Perceived Service Quality and Satisfaction, Journal of Retailing, Vol.
72(2), pp. 201-214.
Sureshchandar, S. D., et al (2002), The relationship between service quality and custumer satisfaction a factor specific approach, Journal of service Marketing, Vol 16 (4), pp. 363-379.
Svensson, G. (2004), “A customized construct of sequential service quality in service encounter chains: time, context, and performance threshold,”
Managing Service Quality, vol.14 (6), p. 468-475.
Teboul, J., (1991), Management quality dynamic. New Youk: Prentice Hall.
Truong QuangThinh, Nguyen Van Ngoc (2009),
Measuringcustomersatisfactionwiththe quality ofbanking services, Journal of Banking Technology,No.43, p. 31-38.
UgurYavas, Karatepe, Osman M., and EminBabakus (2007), “The Effects of Customer Orientation and Job Resources on Frontline Employees’ Job Outcomes,” Services Marketing Quarterly, 29 (1), 61-79.
Van der Wal, R.W.E., Pampallis, A. & Bond, C. (2002), Service quality in a cellular telecommunications company: a South African experience.
Managing Service Quality, 12, PP. 323-235.
93
Valdani E. (2009), Cliente & Service Management, Egea, Milan.
www.kinhtevadubao.vn www.tapchikinhte.com
www.tapchitaichinh.vnZeithaml, V.A. (1987), Defining and Relating Prices, Perceived Quality and Perceived Value, Marketing Science Institute, Cambridge, MA.
Zeithaml, Valerie A., Parasuraman, A. & Berry, Leonard L. (1990), Delivering Quality Service, The Free Press, New York, N.Y
Zeithaml, Valerie A., Berry, Leonard L. &Parasuraman, A. (1996), “The behavioral consequences of service quality,” Journal of Marketing, vol.
60(2), p.31-46
Zeithaml, Valerie A. & Bitner, Mary J. (2000), Services Marketing: Integrating customer focus across the firm, 2nd ed., Irwin/ McGraw-Hill, Boston, M.A
Zhou, L. (2004), A dimension-specific analysis of performance-only measurement of service quality and satisfaction in China’s retail banking. Journal of Services Marketing, 18, pp. 534-546.
94