Factors Determining Bank’s Selection and Preference in Nigerian Retail Banking

The study investigates the relative importance of the factors determining the selection and preference of banks by retail customers. Using multi-stage sampling procedure, a total of 417 retail bank customers were selected and subsequently participated in the survey. The mean, standard deviation, Z-scores and weighted scores were computed using both SPSS software and Microsoft office excel. It was found that some factors highly influence the customers’ choice of banks. Similarly, it was also revealed that customers show high preference for some banks as against others. Managerial implications were discussed and finally, recommendations were proffered.