Ethnicity and Choice Criteria in Retail Banking: A Malaysian Perspective

  •  Safiek Mokhlis    
  •  Nik Hazimah Nik Mat    
  •  Hayatul Safrah Salleh    


This exploratory research empirically investigates variation in bank choice criteria between three distinct cultural
groups in Malaysia, namely Malays, Chinese and Indians. The author predicted that, due to differences in values
and lifestyles of the three ethnic groups, cultural differences would be observed in the level of importance
members of each group attached to specific bank choice criteria. A quantitative methodology, using responses
given by 482 Malaysia’s undergraduates, is employed in the analysis. The results of this comparative analysis
indicate that there is a difference in bank choice criteria based on ethnic backgrounds, and bank marketers can
capitalize on these differences, by identifying them and designing appropriate operations and marketing
strategies, leading to increased customer satisfaction and competitive advantage.

This work is licensed under a Creative Commons Attribution 4.0 License.