An investigation on the drivers of customer loyalty with special reference to the First National Bank Windhoek, Namibia

Abstract

Abstract provided by author Understanding the antecedents of bank loyalty is a critical issue for both academics and bank marketers. This study was conducted to examine the determinants of customer loyalty towards one of the most profitable bank in Namibia, (First National Bank). The current paper reports findings from a survey which looked at the drivers of customer loyalty. A sample of 50 respondents took part in this study. Findings indicated that the top rated determinants of customer loyalty towards the bank were: customer satisfaction, superior service quality, corporate image, switching costs, commitment, trust and accessibility. The findings also revealed that prime interest rates and reasonable bank charges are key motivating factors to drive customers to become loyal. The benefits of retaining customers surpass the cost of keeping them thus, it is recommended that FNB should lead an adequate customer retention management, emphasize the importance of high quality customer service and continuously enhance the positive image of the bank.