Influencing Factors Of Customer Loyalty In Personal Finance Services Of Guangxi Local Banks, China

Abstract

Personal wealth management has become a core business for Chinese commercial banks, playing a crucial role in attracting and retaining clients, enhancing client loyalty, and fostering business growth. This study explores customer expectations, satisfaction, and loyalty in the context of four major regional banks in Guangxi, China, aiming to understand their impact on customer loyalty and the competitive dynamics of the local financial market. This study employed a Likert 5-point scale to gather customer opinions from 400 users of the four regional banks. Data were collected through personal distribution in five cities, ensuring coverage of local banks and external competitors. Research findings are: 1) Customer expectation scored highest on average (Mean = 3.66, SD = 1.30), followed closely by customer loyalty (Mean = 3.58, SD = 1.24) and customer satisfaction (Mean = 3.49, SD = 1.37).2) No statistically significant differences were observed between gender, education background and year of investment. 3) The study finds that customer expectation (r = 0.581, p < 0.01) and customer satisfaction (r = 0.499, p < 0.01) are positively correlated with customer loyalty. The study explores the current situation of Guangxi's local commercial banks，making contribution for customer retention strategies and fostering long-term business growth in the region.