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Article

Open Access

Financial Services Costs in Poland’s Cooperative Banking in Opinion of Small and Medium-size Enterprise

Author(s)

Rafał Balina

Full-Text PDF Download XML 1351 Views

DOI:doi: 10.17265/2328-2185/2015.0102.004

Affiliation(s)

Rafał Balina, Ph.D., Division of Banking, Department of Economics and Organization of Enterprises, Faculty of Economic Sciences, Warsaw University of Life Sciences—SGGW, Warsaw, Poland.

ABSTRACT

In their development strategy, Poland’s cooperative (co-op) banks should equally consider the competition and the rising expectations of their clientele. According to bank customers, an essential element of customer satisfaction—which ties into their loyalty—is the cost of financial services. Currently, delivering a comfortable level of costs for financial services appears to be one of the key verifiers of a bank’s offer, especially in a slowed economy. An effort was made to assess the satisfaction level of Poland’s co-op bank clients from the small and medium enterprise (SME) sector based on costs for services offered by said banks. The study indicated that 2/3 of the clientele was dissatisfied with high financial service and operation charges and low interest rates on current funds deposited by businesses. Co-op banks were able to deliver satisfactory interest rates for working capital loans in current accounts to over 60% of their clientele.

KEYWORDS

client, satisfaction, financial services cost, cooperative (co-op) bank

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