Article

 

APPLYING SERVQUAL TO THE BANKING INDUSTRY (p.57-71)

by

Andreas P. Kakouris, University of the Aegean

Panagiotis K. Finos, Hellenic Open University

Keywords : Service quality, SERVQUAL, Customer satisfaction, Serbia, Financial institutions

JEL classification : M1

Abstract

This empirical study examines the service quality perceptions of customers of the leading bank in the Serbian market. The survey was conducted by using the widely used SERVQUAL measurement tool. Moreover, comparison between SERVQUAL findings and customer satisfaction surveys was conducted along with an attempt to prove correlation between customers’ perceptions regarding service quality. Findings revealed gaps between expectations and perceptions among customers of the case-in-study bank which implies that there are service quality shortfalls that need to be taken care off. The absence of scientific work related to service quality measurement using SERVQUAL method in the Serbian banking market, makes this work regarded as pioneering. Although SERVQUAL instrument exhibited several disadvantages in comparison to customer satisfaction surveys, the recommendation is not to abandon SERVQUAL measurements but to remove limitations and adapt it to better correspond to each case.