Nigerian Journal of Banking and Financial Issues (NJBFI)

Impact Of Service Recovery On Customer Satisfaction Among Money Deposit Banks In Ado-Ekiti Metropolis

Abstract

The study examined the impact of service recovery on customer satisfaction among money deposit banks in Ado-Ekiti metropolis. Specifically, the study investigated the effect of distributive justice, procedural justice and interactional justice on customer satisfaction among money deposit banks in Ado-Ekiti metropolis. The study adopted descriptive survey research design. The population of the study comprised the customers of four money deposit banks namely, Access Bank, First Bank, United Bank for Africa and Wema Bank; out of which 161 respondents were sampled using convenience sampling technique. Data were collected through the administration of structured questionnaire. Data gathered were analysed using multiple regression. The results showed that distributive justice had significant influence customer satisfaction (Adj R² = 0.598,β = 0.931, p = 0.000). Procedural justice had significant influence on customer satisfaction (Adj R² = 0.842,β = 0.995, p = 0.000). interactional justice had significant influence on customer satisfaction (R² = 0.658, β = 0.614,p = 0.000). The study concluded that service recovery is significantly and positively related to customer satisfaction among money deposit banks in Ekiti State.