Determinants of Technical University Students’ Choice of Banks: Empirical Evidence from Takoradi Technical University, Ghana - Open Journal of Statistics

OJS > Vol.11 No.3, June 2021

Volume 11, Issue 3 (June 2021)

ISSN Print: 2161-718X ISSN Online: 2161-7198

Google-based Impact Factor: 0.53 Citations

Determinants of Technical University Students’ Choice of Banks: Empirical Evidence from Takoradi Technical University, Ghana ()

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DOI: 10.4236/ojs.2021.113021 210 Downloads 1,281 Views Citations

Author(s)

Emmanuel Mensah Baah^1*, Emefa Akua Amponsah², Robertson Asare Otoo¹

Affiliation(s)

¹Department of Mathematics, Statistics and Actuarial Science, Faculty of Applied Sciences, Takoradi Technical University, Sekondi-Takoradi, Ghana.
²Department of Textile Design and Technology, Faculty of Applied Arts and Technology, Takoradi Technical University, Sekondi-Takoradi, Ghana.

ABSTRACT

Background: The current competitive banking environment in Ghana demands that banks identify the factors key to their survival and work on these factors to ensure they remain in business. This involves the banks knowing what influences customers to choose to do business with one bank over the other. Objective: The study aimed at determining the factors the influence Technical University student’s selection of banks. Methods: Data from a cross-sectional survey of 545 student respondents of Takoradi Technical University was analysed using the statistical technique of factor analysis. Results: Four factors were adduced to be influencing bank selection amongst Takoradi Technical University students: namely, Robust E-banking, Customer Experience, Access to ATMs and Third Party Influence. Conclusion: While some of the factors are universal in nature others present with subtle nuances dependent on the milieu in which a bank finds itself, making it imperative that banks study the market in which they are operating and implement strategies deemed most suitable for attracting and retaining customers.

KEYWORDS

Bank Choice, Customers, Technical Universities, Students, Factor Analysis

Share and Cite:

Baah, E. , Amponsah, E. and Otoo, R. (2021) Determinants of Technical University Students’ Choice of Banks: Empirical Evidence from Takoradi Technical University, Ghana. Open Journal of Statistics, 11, 351-368. doi: 10.4236/ojs.2021.113021.

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[2]	Similarities and Differences in the Underlying Factors Influencing Male and Female Students of Technical Universities in the Choice of Banks: Evidence from Takoradi …
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