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The majority of the respondents (72%) were further between 20 and 39 years. These respondents had a bank account at their bank for a period of 1 to 5 years (52%). They visit their bank at least once a month (51%) and have a cheque account and credit card at their respective bank. Finally, a total of 21% of the population bank with Standard Bank, 21% with ABSA, 21% with FNB, 20% with Nedbank and 18% with Capitec Bank.
Descriptive statistics Trust
Table 4 provides the standard deviations and mean scores for the level of agreement respondents indicated with regards to the importance of trust as a factor that could influence their relationship with their bank.
The respondents agreed most strongly with the statements “I feel that my money is safe in the bank” (mean = 5.96) and “My relationship with my bank depends on whether it is consistent in providing a quality service” (mean = 5.93). Respondents agreed the least with the statement “My relationship with my bank depends on the attitude of its employees towards customers” (mean = 5.59).
TABLE 4: TRUST STATEMENTS Statement
I feel that my money is safe in the bank
My relationship with my bank depends on whether it is consistent in providing a quality service
My relationship with my bank depends on the confidence that I have in its service provision
My relationship with my bank depends on whether its promises are reliable
I will have a better relationship with my bank if it fulfils its obligations towards me
My relationship with my bank depends on whether its employees shows respect to customers
My relationship with my bank depends on the attitude of its employees towards customers
Mean Std. Deviation
5.96 5.93
5.90 5.76 5.71 5.66 5.59
1.273 1.103
1.168 1.307 1.245 1.479 1.352
Commitment
Table 5 provides the standard deviations and mean scores for the level of agreement respondents indicated with regard to the importance of commitment as a factor that could influence their relationship with their respective bank.
THE INFLUENCE OF TRUST AND COMMITMENT ON CUSTOMER LOYALTY – AN APPLICATION TO THE FOUR MAJOR BANKS AND CAPITEC BANK