Description

Customer loyalty can be defined as the totality of feelings, and attitudes that would incline a customer to consider the re-purchase of a particular product or service, or re-visit a particular bank, company, or shop. Customer loyalty has always been critical to business success and profitability. Customer loyalty has long been a topic of higher interest to both academia & practice and a loyal customer has been found to be beneficial for the organization. During the last decade, customer loyalty and disloyalty or relationship ending has gained a lot of attention from both academicians and professionals. Retail banking refers to the dealing of commercial banks with individual customers both on the liabilities and asset sides of the balance sheet. It encompasses fixed, current, and saving deposits linked products on the liability side and mortgages, loans (e.g. personal, auto, housing, educational), and other financial products on the asset side. Currently, pure retail banking is conceived to be the provision of mass banking products and services to individuals for personal consumption as opposed to wholesale banking having thrust on corporate and institutional clients. The essence of retail banking lies in individual customers; it is akin to mass banking which lays focus on the masses rather than classes.