Products and consumers: a critical and Cooperative study of financial services in financial institutions in Kenya:
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Date
2012-11
Authors
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Journal ISSN
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Publisher
Kampala International University, School of Economics and management
Abstract
In Kenya, commercial banks are known for their consequent and extraordinary profits
that they generate at the end of their accounting periods. The entrance of the foreign
banks in the local industry within the region posses a high level of competition that has
made banks to constantly come up with several and different financial products and
services in order to maintain market leadership or to take over the market leadership.
This research takes an investigative study of banks as financial institutions to be
examined; this is because they are the leading providers of financial products and
services. The major banks considered in this study are Kenya Commercial Bank (KCB),
Barclays bank (Kenya), equity bank and Co-operative Bank of Kenya to compare and
analyze 1. The nature of financial products and services provided by financial institutions
in Kenya, 2. Determine the level of acceptability or importance of financial products and
services to the consumer. 3. Asses the consumer's perception on the financial products
and services offered by the financial institutions, and 4. Evaluate the relationship between
financial products and the consumer.
The study will adopt a cross sectional research design and utilize both the open ended and
close ended questionnaires, and interview schedules as methods of data collection. The
target population of this study will consist commercial banks and their customers. The
sample size will contain a population of 200 people this is to ensure the accuracy and the
reliability of the data. Four (4) banks will be visited, four (4) senior managers per the
selected bank interviewed, ten (10) employees per bank interviewed and the rest (144)
will be customers of these banks.
Stratified and cluster sampling will be used considering the wide geographical area that
comprises Nairobi city where the headquarters of these banks are scattered.
The study will be of benefit to the existing and incoming financial institutions within
Kenya, it will also be of importance to the consumers of financial products and services
e.g. credit cards and private and corporate banking.
Description
A research project submitted in partial fulfillment of the requirement for the award of Degree of Business administration of Kampala International University.
Keywords
Products, Consumers, Financial services, Financial institutions, Kenya