Community drive ‘can push bank ratings’
CUSTOMERS OF COMMERCIAL banks seemingly care far more about the financial institutions living up to their corporate social responsibilities than about high charges and fees, a new survey has found.
The study of Corporate Social Responsibility and Customer Satisfaction in the Barbados Retail Banking Industry was conducted by University of the West Indies, Cave Hill, economics lecturer Dr Prosper Bangwayo-Skeete.
Presenting the findings to scores of officials, among them representatives of commercial banks, shesaid the clients polled were more society-oriented, and believed that once banks were involved in the community it added value to their quality of service.
“What we actually found is once a bank is involved deeply in corporate social responsibility and they [customers] buy-in to it they actually consider that bank is providing fair or charging fair prices regardless of what that price was,” she informed the audience at the Breakfast Business Forum held Thursday at the university’s Mount Restaurant. (WILLCOMM)
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