EFFECT OF QUALITY SERVICE DELIVERY ON CUSTOMERS PATRONAGE IN FIRST BANK PLC
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EFFECT OF QUALITY SERVICE DELIVERY ON CUSTOMERS PATRONAGE IN FIRST BANK PLC
Chapter One: Introduction
1.1 Background of the Study
The banking industry is made up of several banks, including central, commercial, merchant, development, and savings banks. The central bank is the apex bank.
Though banks are classified based on their purposes, a thorough examination of their numerous functions revealed that they have common characteristics and functions, but with a minor and significant difference.
Banking, like other human pursuits, has a history dating back to 2500 BC. The early known bankers were Jews in Haley who conducted their transactions on market benches.
The research studies customer services in the banking business with the goal of determining consumer satisfaction in reaction to services provided. To achieve this efficiently, FBN PLC in Kaduna has been chosen as our case study.
Banking in Nigeria.
In 1894, the Elder Demister Company and the African Banking Corporation established Nigeria’s first recorded banking system. In 1894, British West Africa took over these businesses’ banking activities. It continued as such until 1971, when the colonial bank established offices in Jos, Kano, Lagos, and Port Harcourt.
The Bank of British West Africa later became Standard Bank of Nigeria Ltd, which is now FBN PLC. The colonial bank was renamed Barclays Bank. It changed its name to Union Bank of Nigeria Limited on March 12, 1979.
The first indigenous bank, the Industry and Commercial Bank, was founded in 1929. It failed in 1931 and was out of business in 1936. Nigeria’s national bank opened in 1933.
The next significant event did not occur until 1945, when the Agbonmag be was established. The African Continental Bank was founded in 1946 as the Tinubo Bank and then renamed WEMA Bank Plc. The Bank of the North was established in 1959, and the Cooperative Bank in 1962.
The United Bank for Africa was established in 1949. The remaining four banks mentioned above are still in operation.
The first banking ordinance, issued in 1951, stated that no bank may function without a government licence. The ordinance established the Central Bank of Nigeria, which is responsible for ensuring monetary stability and sound commercial banking operations in Nigeria.
In order to promote economic development in rural areas, the federal government established rural banking, also known as community banks, in 1991. Community banks were found throughout African society, and it was to this end that the then-central bank governor
late Alhaji Abdulkadir, stated that “community banks are bound to Nigeria today.”The British and French bank was created in 1947 and then renamed United Bank of Africa in 1961.
The Economic Importance of Commercial Banks in Nigeria
A commercial bank distinguishes itself by claiming to be willing to accept deposits from members of the public on current or deposit accounts in order to honour cheques drawn by its clients on their accounts, as well as cheques drawn on or issued by other banks.
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