Felix Kombo

Tomas Bata University in Zlín Czech Republic

 felixkombo@gmail.com

Customer satisfaction

in the Kenyan banking industry

 ABSTRACT. Customer satisfaction provides a platform for companies to enhance relationships with their customers thus enabling the companies to achieve their objectives for long- term success. This study investigates the current pattern of customer satisfaction in the Kenyan banking industry. A questionnaire survey was administered to 403 bank customers of the top five banks in Kenya. Software SPSS 22.0 was used to analyze the data gathered from the survey. The results of the analysis demonstrate that the overall level of customer satisfaction is more than 60%. The results also demonstrate that the most important factor for customer satisfaction is the wide availability of bank branches, and the factor most associated with customer dissatisfaction is the high prices of products and services. In addition, the results depicted that both satisfaction and dissatisfaction partially influence the number of banking products and banks that clients choose to open accounts with. The study further gives suggestions for policy-making and possible areas for future research.

Received: April, 2015

1st Revision: May, 2015

Accepted: August, 2015

DOI: 10.14254/2071-

8330.2015/8-2/15

JEL Classification: G21, M31

Keywords: Customer satisfaction, commercial banks, customers, Kenya, dissatisfaction, banking industry