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The Effect of Bank Service Quality to Customer Satisfaction in Vietcombank Banking (A Case Study of Vietcombank Banking, Ha Noi Sub Brand, Viet Nam)

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The Effect of Bank Service Quality to Customer Satisfaction in Vietcombank Banking (A Case Study of Vietcombank Banking, Ha Noi Sub Brand, Viet Nam) THE EFFECT OF BANK SERVICE QUALITY TO CUSTOMER SATISFACTION IN VIETCOMBANK BANKING (A CASE STUDY OF VIETCOMBANK BANKING, HA NOI SUB BRAND, VIET NAM) By TRI DUC TAI ANH (RONALDO) 014200900159 A thesis presented to the Faculty of Economics President University In partial fulfillment of requirement for Bachelor Degree in Economics Major in Management March, 2013 PANELOFEXAMINERS APPROVALSHEET The Panel of Examiners declares that thethesis entitled “The effect of bank servicequality tocustomersatisfaction in Vietcombank(Case study in Vietcombank, Vietnam)”.Thatwassubmittedby TriDuc Tai Anh majoring inBanking & Financefromthe Faculty of Economic was assessed and approvedtohave passed theOral Examinations. Filda Rahmiati, MBA ___________________________ Chair-PanelofExaminers Geraldine B. Advincula, MBA _________________________ Examiner I Dra.Genoveva, M.M ________________________ Examiner II CHAPTER I INTRODUCTION 1.1 Background of study An Automatic, Automated Teller Machine or Bank service is a magnetic- stripped bank service that was primarily introduced to allow customers to withdraw cash from their account without human intervention (Economy watch, 2010). Based on the world’s economy nowadays, there is a good chance that anybody has a BANK service, which stands for Automated Teller Machine. This service gives the ability to go to a BANK and perform transactions. Customers have access to their funds 24 hours per day, seven days per week (Rupa .R. Nakman, 2009). So, it will be easier for anybody, even for the student. BANK service is one of today's most ubiquitous financial instruments. For bank management perspectives, identifying the appropriate market for the BANK service, interpreting consumers’ needs for the product and developing business strategies are crucial to cope with fierce competition in the BANK service market. The services have capacity to support consumers in their everyday life activities without much concerning about cash in hands. For the entire customers, BANK service (including basic BANK Service, Debit Service, Credit Service, Master Service, and Visa Service) is the good choice on doing business. The bank’s appearance with the main purpose is currency turnover in order to serve everybody’s business. Moreover, our society is increasing more and more, there are too many new commercial banks or private banks are building up, so it is lead to Page | 1 the competition about service quality and product safety. One of the most popular banking services which are everyone using nowadays is BANK Service. In this research, the researcher would like to analyze about the BANK service of Vietcombankbanking because there is a Vietcombank Sub Branch near from my home, so it will take easier for taking data and analysis. The profit Vietcombank targets $238.6M after tax profit in 2012 Vietcombank is targeting an after tax profit at 4.929 trillion dong or US$238.6 million, a year on year increase of 17%. It is also aspiring for a pre tax profit of 6.59 trillion dong in 2012, up 15% year on year. The bank also targets to reach total assets growth of 18% by the end of 2012, credit growth at 17% and total deposit growth at 18% on year. Vietcombank’s bad debts ratio in 2012 is expected to be kept at below 2.8% against 2.03% in 2011. The bank also expects a dividend payment of12% this year. The bank’s director board will submit its plan in the Annual General Meeting to list 1,787,023,116 shares belonging to the state holding in VCB on the stock market, accounting for 77.11% of the bank’s chartered capital in 2012. In addition, in 2012, VCB plans to set up more subsidiaries such as asset Management Company, Remittance Company and consumer credit finance company. Currently, Vietcombank has some subsidiaries such as financial leasing company and Securities Company a. Capital Vietcombank receives deposits, manages, tracks balances and provides account services to customers swiftly and securely at the lowest cost. Page | 2 When placing deposit at Vietcombank, Customers can open free-of-charge the following account types: 1. Current account 2. Special account: payment-only, collection-only, auto-invest, etc. b. Customers Vietnamese organizations which are established and operating under Vietnam’s laws, foreign organizations which are established and operating under the laws of the countries where the organizations are established. c. Benefits 1. Simple account-opening and transaction procedures 2. Select number account as desire. 3. Available VND or foreign currency account options 4. Money in account of Customer is safe and secured 5. Easy cash deposit and withdrawal at all Vietcombank branches 6. Conduct immediate transfer within Vietcombank’s network 7. Diversified and convenient payment service at the lowest cost through Vietcombank wide branch and correspondent network. 8. Modern e-banking services: VCB-Money, Internet banking. 9. Exclusive supporting services: Auto-invest, central fund management, e-bank, etc. Page | 3 d. To use Customer can open accounts with any Branch of Vietcombank country-wide. Fill in the form Account-opening Application and provides required documents as instructed by the bank. Deposit and withdrawal methods: 1. Deposit and withdrawal in cash 2. Deposit and withdrawal by transfer: transfer check, certified check, payment order, collection order, etc. Page | 4 The list of sub brand in VIetnam T Sub Brand Address number City A SHOWROOMTHA 1 Sho wroomLongBiên 2A,NgôGiaTự,P.ĐứcGiang.QuânLongBiên, 0438773 HÀNỘ 2 ShowroomMỹĐình 16PhạmHùng,MỹĐình,H.TừLiêm, HàNội 438759 H ÀNỘ 3 ShowroomGiảiPhóng KM10,ĐƣờngGiảiPhóng,x.TứHiệp,ThanhTrì 3.681.53 H ÀNỘ 4 CôngtyCơKhíChuyên Km12Đ ƣờng32-QLộ32–PhúDiễn-TừLiêm- 438759 H ÀNỘ 5 ShowroomBắcNinh PhốMới,TƣơngGiang,TXTừSơn,BắcNinh 438759 B ẮCNI 6 ShowroomVĩnhPhúc NguyễnTấtThành,P.TíchSơn,TP.VĩnhYên,T. 02113.71 VĨN HP 7 ShowroomTháiNguyê Tổ04,P.CamGiá,TP.TháiNguyên,T.TháiNgu 02803.50 THÁIN 8 S howroomThanhHóa X.H oằngQuỳ-H.HoằngHóa -T.ThanhHóa 0373.647 THAN B Sub Brand 9 ĐạiLýĐàoDƣơng 173HoàngHoaThám-TTCaoThƣợng- 2,403,878 BẮ CGI 1 ĐạiLýXuânHòa Số45-PhốKimĐồng-HợpGiang-T.CaoBằng 0263.853 CAOB 1 ĐạiLýVạnToàn PhƣờngYênPhúc –Q.BiênGiang-TX 33,719, HÀN Ộ 1 ĐạiLýSaoĐỏ 07NguyễnHuệ -NguyễnTrãi–H.ChíLinh– 03203.58 H ẢID 1 ĐạiLýĐôngĐôHảiDƣ Km3-NguyễnLƣơngBằng-TP.HảiDƣơng 3,203,891 HẢID 1 ĐạiLýTrọngThiện 4B-LêThánhTông–MáyTơ-NgôQuyền- 0313.614 HẢIPH 1 ĐạiLýMinhPhúc Số1B -25/10NúiĐèo,ThủyNguyên,HảiPhòng 0313.642 HẢIP H 1 ĐạiLýSôngĐà Km3,Quốclộ6,TP.HoàBình–T.HoàBình 02183.29 HÒAB Ì 1 ĐạiLýBảoChâu Km5,PhốNgọc,TrungMinh,ThànhPhốHòaBì HÒA BÌ 1 ĐạiLýĐôngĐôHƣngY Số08-ĐinhĐiền-P.LamSơn-TXHƣngYên- 03213.54 HƢ NG 1 ĐạiLýNguyễnLê ThônVĩDạ,X.HoàngĐông,TP.LạngSơn,T.Lạ 043.9260 LẠNG 2 ĐạiLýHuyLong Số70-NhạcSơn-P.DuyênHải-TPLàoCai- 0203.820 LÀOC 2 ĐạiLýVảiSợiMay Số19TrầnHƣngĐạo-TpNamĐịnh- 03503.84 NA M 2 ĐạiLýVậnTảiBiển 26NguyễnVănTrỗi-P.BếnThủy-TP.Vinh- 0383.595 NGHỆ 2 ĐạiLýMinhSơn KhuCôngNghiệpDiễnHồng- 0383.677 NGH Ệ 2 ĐạiLýNguyễnHuệ PhốCầuHuyện-ThịTrấnThiênTôn-H.HoaLƣ- 0303.624 NIN HB 2 ĐạiLýNamCƣờng Số09,ĐƣờngKCN,P.VânCơ,TP.ViệtTrì,T.Ph 2,103,952 PHÚ T 2 ĐạiLýTríLực Khu8–P.HảiHòa -TXMóngCái- 0333.773 QUẢ N 2 ĐạiLýSơnLa KhuCNChiềngSi nh–X.ChiềngSinh– 223,874, SƠNL 2 ĐạiLýTânThànhThái 126LêQuýĐôn–P.TiềnPhong–TP.TháiBình– 0363.834 TH ÁIB 2 ĐạiLýThànhĐông ThônHữuLễ 4-XãThọXƣơng-ThọXuân- 0373.535 THA N Source: Vietcombank.com.vn Page | 5 The list of sub brand in Vietnam TT Sub brand address Phone 7 ShowroomAnLạc 36C11QL1A,TânKiên,Bình 08.37561241 8 ShowroomBìnhTân 27/31KinhDƣơn gVƣơng,P. 08.37526171 9 ShowroomBìnhTriệu 48/1QL13,HiệpBìnhChánh , 08.37269447 10 ShowroomCầnThơ 340CáchMạngThá ngTám,T 0710.886137 11 ShowroomVĩnhLong ÂpTânVĩn hThuận,XãTânng 12 ShowroomLáiThiêu Số3A,KhuPhốHòaBình,TT. 13 ShowroomBìnhPhƣớc 648PhúRiềngĐỏ- 14 ShowroomTiềnGiang KhuPhố2- 0733.955633 B Sub Brand 15 ĐạiLýTânTháiDƣơng 153/4TrầnHƣngĐạo,P.MỹP 0763.212.178 16 ĐạiLýTháiDƣơng 25/10TrầnHƣngĐạo- 17 ĐạiLýViệtHƣng 225 ThủKhoaHuân,Tổ8,K.C 18 ĐạiLýDƣơngChíThanh TTTriTôn,H.T riTôn,AnGia 0763.507.357 19 ĐạiLýTƣHổ A15/124 QL1A -Phƣờng8- 0781.3956789 20 ĐạiLýTiếnPhát 6A-7AHùngVƣơng, 07803.818.999 21 ĐạiLýThậpNhấtPhong 19LýTựTrọng,Phƣờng 2,TP. 0673870889 22 ĐạiLýMỹPhúHƣng 318Quốclộ30,KhómMỹThƣ 067.3870889 23 ĐạiLýKiênGiang 181CáchMạngThángTám,P. 0773.918.826 24 ĐạiLýÁnhSáng 132 0793.615.636 25 ĐạiLýHoànVũ 726CáchMạngThángTám,K 0663622144 26 ĐạiLýVMC 22CộngHòa,P.4,QuậnTânB V 27 ĐạiLýTânTrƣờngLong ấpBếnCó-X.NguyệtHóa- 0743.842335 28 ĐạiLýPhuớcThànhTài QL1A,XãTânHạnh,H.Lon g 0703.877.427 Block Hồ VĩnhLong Source: Vietcombank.com.vn Page | 6 1.2 Company profile The Joint-Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) was established after the equalization of the former Bank for Foreign Trade of Vietnam by its Initial Public Offering (IPO) on 26 December 2007 on Ho Chi Minh City Stock Exchange. Over 45 years of continuous development, Vietcombank has projected itself as the leading bank in Vietnam in various segments such as treasury, international settlement and trade finance, bank service, banking technologies, etc. A home of highly experienced and skilfulstaff who possess professional Working attitude, Vietcombank is proud to be a prime choice for top local and foreign corporations and Enterprises as well as individual customers. Originally established as a specialized bank serving external economic activities, Vietcombank today has grown into a universal bank with presence in all major cities and provinces of throughout the Country. A wide range of diversified products are offered so as to maximize customers’
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