Criteria of bank selection of Czech retail clients

The bachelor thesis investigates factors that influence clients of retail banking in their selection of a bank, their satisfaction with the choice of their primary bank and situations under which they would consider switching. A questionnaire survey discovered a relatively high level of client satisfaction with banks, however, bit more satisfied customers are the customers of other banks compared to the customers of three largest banks in Czech financial sector (Česká spořitelna, ČSOB, Komerční banka). Almost half of the clients are using products of multiple banks, while three largest banks in the Czech financial sector have higher market share among „primary banks“ than among „secondary banks“. Clients take into account a combination of price factors (particularly ATM withdrawal fees and monthly account fees), qualitative factors (functionality of internet banking and sufficient ATM network). Bank reputation played a smaller role and particularly ecological factors were not important for clients. For client retention and new client acquisition banks should, according to the questionnaire survey, concentrate on simplicity and cost-effectiveness of their crucial transaction products.