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Customer Relationship Management in the Ghanaian Banking Industry: A Case Study of First Atlantic Bank

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PENTECOST UNIVERSITY COLLEGE

FACULTY OF BUSINESS ADMINISTRATION

(DEPARTMENT OF ACCOUNTING AND FINANCE)

CUSTOMER RELATIONSHIP MANAGEMENT IN THE GHANAIAN BANKING INDUSTRY: A CASE STUDY OF FIRST ATLANTIC BANK

SUBMITTED BY

OPHELIA BAMPO

 (PUC/120477)

SUPERVISED BY

MR. SETH APPIAH-KUBI

A DISSERTATION SUBMITTED TO THE DEPARTMENT OF ACCOUNTING AND FINANCE, IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE DEGREE IN BANKING AND FINANCE

JUNE 2016

DECLARATION

I, Bampo Ophelia, declare that this thesis titled “Customer Relationship Management in the Ghanaian Banking Industry: A case study of first Atlantic Bank” was done entirely by me under the supervision of Mr. Seth Appiah-Kubi. The thesis has not been presented, either wholly or partly, for any degree elsewhere before. All sources of the scholarly information used in this work were dully acknowledged.

Officially, I state the project has been supervised and assessed in accordance to the guidelines by Pentecost University College. I further undertake to indemnify the university against any loss or damage arising from breach of the forgoing obligation.

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Certified by:

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DEDICATION

I dedicate this work to my lovely parents Mr. and Mrs. Koranteng-Addo who have supported me through my education. You have in many ways enriched my life. Thank you for the thoughtfulness, the well wishes and the prayers. I deeply appreciate you, Mum and Dad.

ACKNOWLEDGEMENT

First, I would like to thank God Almighty for giving me the grace and the opportunity to go through this study. I would also like to pass my appreciation, gratitude and thanks to my Supervisor, Mr. Seth Appiah Kubi of Pentecost University College, for all the help, guidance and effort he put at my disposal to help me complete this work.

Again I would like to thank the entire lecturers of the Banking and Finance programme who imparted knowledge to me.

Secondly, I express great gratitude to my parents, Mr. and Mrs Koranteng -Addo for the love, support and care offered to me throughout the programme. To all the entire Koranteng –Addo and Bampo families, am grateful for your support.

My special thanks to all friends who assisted me to administer the questionnaires for this work and all others whose names cannot be readily mentioned, I am equally grateful to you all.

Finally, I also thank all the employees of First Atlantic Bank who sacrificed their time to respond to the questions.

ABSTRACT

This research was embarked upon at the instance of many questions that sought to understand what Customer Relationship Management (CRM) is and what benefits can accrue to an organization that implements CRM as well as to identify eminent challenges associated with the implementation of CRM initiatives. To obtain satisfactory results from the study, the case study methodology involving a single case study of First Atlantic Bank Ltd, Accra Central branch. Questionnaires were administered and responses were obtained from the staff of the bank. Findings from the research revealed that CRM is practiced at First Atlantic Bank and that staff are aware of the contemporary issues of CRM. Moreover, the findings indicated that the adoption of CRM offers such advantages as increased customer base, increased profitability, and customer loyalty and retention. Notwithstanding the above mentioned advantages of CRM, the study also identified management and leadership, technology, data acquisition and integration issues as critical factors that may facilitate or militate against CRM implementation. Since the concept of CRM is broad and relatively new in the Ghanaian banking industry, no single research can cover its multi-facets. The study recommends further research into the adoption and implementation of CRM

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