The Key Role of Good Financial Management for Customer Satisfaction in the Commercial Banks of Equat

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The banking industry could be a key player in ensuring economic development as a results of customer satisfaction.Customer satisfaction is that the largest competitive advantage for Banks and it’s one among the keystone concepts in strategic marketing.In Equatorial Guinea,the commercial banks are the most important part of financial organization.The banking system in Equatorial Guinea has become more integrated thanks to the technological environment,liberalization and deregulation.As a result,the market environment in banking sector has become more competitive and sophisticated,with this intense competition in banking systems,customer satisfaction has become the most issue in Equatorial Guinea banking system.The banking system in Equatorial Guinea is facing tremendous problems like bad reputation,mistrust,then on from unsatisfied customers as a result of financial mismanagement,this is often why many Equatoguinean prefer using the banks abroad to perform banking operations safely,and few people still prefer to conserve funds at home.The purpose of this research is to analyze and examine the factors that affect financial management toward customer satisfaction in the banking industry in Equatorial Guinea.This study adopted empirical research design on the sample size of 309 respondents.Data is collected through survey questionnaires.Four commercial banks on different cities in Equatorial Guinea were targeted for this study,all questionnaires were filled by the customers and workers from different banks.Data has been analyzed by using SPSS.Correlation and regression techniques are wont to determine results.This paper has found that association between dimensions of financial management of banks and satisfaction of customers are crucial in commercial banks in Equatorial Guinea.The research also reveal that effective financial management is strongly linked to the quality of service,which means that in order to create customer satisfaction it is crucial to consider responsiveness,professional skill,and quality of service as vital elements in order to overcome this lack of good financial management and the risk-averse attitudes in Equatorial Guinea that affect customers.
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