Customer Behavior and Factors Influencing the Patronage of Thrift Banks in China

Abstract

The study investigates the factors influencing client patronage of a thrift bank in China over the last five years. Thrift banks serve their communities by offering affordable financial services, with a focus on low-cost mortgages and competitive interest rates. The research analyzed the demographic profiles of 100 clients, revealing that a typical client is a female, college-educated individual aged 34 to 42 with a middle-income level. Key factors affecting client retention include accessibility, reputation, service delivery, and customer relations. Despite marketing strategies, the bank experienced a decline in deposits and loan approvals, indicating a need for improvement. The research highlights the importance of innovation in product offerings and targeted client retention strategies to adapt to a competitive financial market. An action plan was proposed to enhance client loyalty and satisfaction.