Determinants of Trust in Banks: Evidence from Ghana

Abstract

The purpose of this study is to examine the determinants of customer trust in the Ghanaian banks. The study determines the effect of bank competence, bank integrity, stability, client orientation, transparency and shared values on customer trust. The data was collected by self-administered questionnaires and analyzed by correlation and multiple regression analysis. The results indicated that competence, transparency and client orientation exhibit a statistically significant influence on customer trust in the context of Ghanaian banks. By contrast, integrity, stability and shared values have an insignificant effect on customers’ trust. The study concludes that in the context of Ghanaian banks, in order to influence customer trust, banks need to invest in competence of their staff, display benevolent character and be transparent.