Drivers of Bank Loyalty among Students in Nigeria: Positing the 12-Point Student Customer Bank Loyalty Index Model

Steve Ukenna, Moses C. Olise, Victoria C. Chibuike, Carol Anionwu, Nick N. Igwe, Ifeanyi E. Okoli


This paper identifies key determinants of bank loyalty among  student customers of banks in Nigeria. Data were collected from a sample of 423 student bank customers from 4 tertiary institutions in southeast Nigeria. Factor analysis was used to reduce 39 variables on student customer loyalty into 12 underlying factors explaining loyalty behaviour among student bank customers, which are collectively labeled 12-Point Student Customers Bank Loyalty Index Model. We recommend that banks located around University campuses should employ the model as an invaluable strategic tool for marketing strategy design, student customers’ bank loyalty assessment, and competitors’ customer loyalty analysis.


bank loyalty, student customer, 12-point student customer bank loyalty index model

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American Journal of Business and Management

ISSN 2167-9606  eISSN 2167-9614 //OCLC: 794280070

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