




































INDIAN JOURNAL OF FINANCE AND BANKING 10(1) (2022), 45-53 

45 

 

                   FINANCE AND BANKING 

                                                                  IJFB VOL 10 NO 1 (2022) P-ISSN 2574-6081  E-ISSN 2574-609X 
                                                  

        Available online at https://www.cribfb.com 
                                                                                                                                           Journal homepage: https://www.cribfb.com/journal/index.php/ijfb 

                                                                                                                                                                                                   Published by CRIBFB, USA 

CUSTOMER TRUST IN E-BANKING DURING COVID-19 

PANDEMIC IN BANGLADESH       
 

Md. Shahnur Azad Chowdhury (a)  Md. Shahidul Islam (b)  Md. Shariful Haque (c)1 Mohammad Shyfur Rahman Chowdhury (d ) Mohammad Emdad Hossain (e) 
 

(a) Associate Professor, Department of Business Administration, International Islamic University Chittagong, Chittagong, Bangladesh; E-mail: tipu_iiuc@yahoo.com 
(b) Divisional Officer, Service Engineering Division, Bangladesh Forest Research Institute, Chittagong, Bangladesh; E-mail: engr.shahidul.islam@gmail.com 
(c) Associate Professor, Department of Economics and Banking, International Islamic University Chittagong, Chittagong, Bangladesh; E-mail: sharif@iiuc.ac.bd 
(d) Assistant Professor, Department of Business Administration, International Islamic University Chittagong, Chittagong, Bangladesh; E-mail: shohel_math22774@yahoo.com 
(e) Associate Professor, Department of Business Administration, International Islamic University Chittagong, Chittagong, Bangladesh; E-mail: emdad@iiuc.ac.bd 

 

 
A R T I C L E I N F O 

 
 

Article History: 
 

Received: 22nd May 2022  

Accepted: 10th July 2022 

Online Publication: 14th July 2022 

 
Keywords: 

 

E-Banking, Trust, Customer Satisfaction 

Structure Equation Model, Bangladesh 

 

 
JEL Classification Codes: 

 

G21 
  

 
A B S T R A C T 
 
The purpose of this study is to determine the trust that E-Banking customers possess regarding the effect 

of customer satisfaction, which depends on the E-Banking infrastructure facility and E-Banking 

Communication environment. Using stratified random sampling in randomized block design, the response 

to a survey questionnaire has been obtained from 400 respondents via E-mail and hand-to-hand to know 

their opinion. Structure Equation Model (SEM) with Kolmogorov Smirnov Test, Shapiro Wilk Test, Mann-
Whitney Test, Kruskal-Wallis Test, and Least Significant Difference (LSD) tests are used to determine the 

factors that affect E-Banking customer trust. It is observed, from this study, that an increased E-Banking 

communication environment, leads to the enhancement of customer satisfaction, as there is a positive 

significant relationship. Result also shows bachelor's degree and master's degree holder customers exhibit 

more trust in the E-Banking process than the customers with a lower level of education. Customers who 

started e-banking transactions during Covid-19 own more trust value than the customers who started 

transactions before the pandemic. So, the growth of E-Banking transactions may contribute positively to 

ensuring sound health in the future and especially in any pandemic situation. 
 

 

© 2022 by the authors. Licensee CRIBFB, USA. This article is an open-access article distributed under the terms 
and conditions of the Creative Commons Attribution (CC BY) license. (http://creativecommons.org/licenses/by/4)  
                                                     

 

INTRODUCTION 
The E-Banking transaction process grows very rapidly for the Covid-19 pandemic situation and becomes very popular in 

the last two years in Bangladesh. Customer trust is one of the aspects that scientists and business analysts look at while 

developing new products or services. This research is looking into the factors that influence customer loyalty and happiness, 

the backdrop of corporate social responsibility (CSR), the role of business ethics as a determinant, and other factors. One of 

the factors that attract customers is their ability to build trust. In the banking sector, online banking is one of the most popular 

services offered by commercial banks, and it has a beneficial influence on the performance of financial institutions as a 

whole. 

In financial institutions, information technology has played an important role in enhancing services, providing new 

products, making inquiries easier, and saving time. In the present world, information technology has been chosen to bring 

answers to virtually every industry, including education, health, libraries, communication, and a slew of others. People in 

Bangladesh are becoming more conscious of their entitlement to receive excellent and value-added services in exchange for 

their money. The banking business in Bangladesh has recognized the needs of clients and their expectations from financial 

services. As a result, the new generation of private commercial banks is equipped with essential information technology 

infrastructure. E-banking refers to the supply of banking goods and services using electronic delivery channels, such as the 

internet. It allows for banking to be done, from any location, at any time. It provides handy, low-cost financial services that 

are simple, fast, and convenient around the clock. In addition to providing significant cost savings to customers, e-banking, 

whether conducted via the internet, telephone, or other electronic delivery methods, is becoming increasingly popular among 

businesses and consumers. Bangladesh has been a leader in the use of electronic banking services. The bulk of Bangladeshi 

clients has not yet been used to the electronic banking system (Sadekin et al., 2019). The growth of e-banking in any country 

is largely dependent on the faith that clients have in the system. Clients' confidence in any bank's e-banking system is 

                                                      
1Corresponding author: ORCID ID: 0000-0002-2692-3634 
© 2022 by the authors. Hosting by CRIBFB. Peer-review under responsibility of CRIBFB, U.S.A.  

https://doi.org/10.46281/ijfb.v10i1.1772 

 

To cite this article: Chowdhury, M. S. A., Islam, M. S., Haque, M. S., Chowdhury, M. S. R., & Hossain, M. E. (2022). CUSTOMER TRUST IN E-

BANKING DURING COVID-19 PANDEMIC IN BANGLADESH. Indian Journal of Finance and Banking, 10(1), 45-53. 

https://doi.org/10.46281/ijfb.v10i1.1772 

http://creativecommons.org/licenses/by/4.0/)
http://creativecommons.org/licenses/by/4.0/)
https://doi.org/10.46281/ijfb.v10i1.1772
https://orcid.org/0000-0003-1547-157X
https://orcid.org/0000-0001-5755-2365
https://orcid.org/0000-0002-2692-3634
https://orcid.org/0000-0002-7804-050X
https://orcid.org/0000-0001-5792-0033


Chowdhury et al., Indian Journal of Finance and Banking 10(1) (2022), 45-53 

 

46 

dependent on a number of factors, including service quality, security, network speed, and the educational qualifications of 

the customers. Customers' confidence in the e-banking system will improve if the e-service quality of any bank is greater 

than the conventional banking system as a result of their contentment with the e-banking system. It is the quality of service 

provided by the e-banking system that determines whether or not customers are satisfied with the system. If Bangladeshi 

banks do not succeed in increasing their consumers' confidence in banking transactions, they would face a very bleak future.  

The level of trust that Bangladeshi clients have in the e-banking system is needed to be studied for policy making 

in the discipline of modern banking. E-banking refers to banking operations that are carried out electronically, such as 

through the use of a telecommunications network, web technologies, computers, cellular phones, and other electronic 

devices, rather than in person. Nowadays, as a result of the growing importance of the global economy, e-commerce and e-

business have become more important components of corporate strategy and a powerful stimulus for economic development. 

The progress of e-banking is dependent on the confidence that clients have in the system. The security status of e-banking 

and the level of confidence placed in it by clients are intimately tied to one another. It was during this period that the notion 

of electronic financial services, more generally known as e-banking, came into being. Currently, commercial and public 

banks in Bangladesh are taking a variety of efforts to implement E-banking. Consumers are drawn to electronic banking 

technology for a variety of reasons, including convenience, increased ease of use, and, in certain cases, cost savings. 

E-Banking customer satisfaction depends on e-banking infrastructure facility (measured by computer, laptop, 

mobile, communication network, web technology, communication software, antivirus security facility) and E-Banking 

Communication environment (measured by E-Banking operation, adoption, growth, social acceptance, and perceived 

enjoyment). This research is expected to satisfy the objectives as follows: 

 To determine the E-Banking customer trust from the effect of customer satisfaction.  

 To analyse the effect of demographic variables (type of bank used, gender, and education) on E-Banking customer 

trust.  

 To investigate the E-Banking customer trust in the Covid-19 situation (started E-banking during Covid-19 and 

before Covid-19 situation) in Bangladesh. 

 

LITERATURE REVIEW 

The overall increase in education, particularly computer literacy, as well as the developing large network of ISPs will provide 

an enabling environment that will allow the customer to feel secure when doing banking transactions over the internet (Syed, 

2011). Goudarzi et al. (2013) conducted research in which they evaluated the following: according to the data, trust has a 

beneficial impact on the uptake of Internet banking services by consumers. Furthermore, the findings indicate that there are 

a variety of elements that influence confidence in electronic services. The vast bulk of the study has been carried out in the 

context of Internet-based banking. With this research as a foundation, the review offered in this paper provides an overview 

of the key characteristics that may influence people's trust in online banking services in general. Redwanuzzaman and Islam 

(2013) found that the number of people who utilize electronic banking is growing considerably. It has, however, gained 

remarkable popularity among bank customers in recent years, and it is hoped that this popularity will continue to grow day 

by day as the product is nurtured by expert bankers. The perceived utility, social impact, and perceived enjoyment were the 

significant predictors of persons' propensity to use online banking services in Bangladesh (Islam & Ahmed, 2020). The 

findings also revealed that perceived utility had the greatest significant impact on an individual's behavioral intention to use 

online banking in this nation, outweighing social influence by a factor of two to one. Shahriar (2014) conducted a study and 

discovered in contrast to international banks, internet-based banking has only lately been offered by a number of big private 

and national banks, as well as certain regional banks.  

Even though many banks have made significant investments in online banking, the adoption of internet banking 

has not been as rapid as anticipated. In Bangladesh, clients do not have a sufficient understanding of e-banking, which is 

being provided by the banking industry in the country. Customer acceptance and usage of e-banking technologies are 

connected to both individual consumer traits as well as a specific technology. In general, customer satisfaction with e-

banking and banking issues are both high (Hammoud et al., 2018). Bank management is responsible for ensuring the security 

of E-banking transactions for not only customers but also for their bank employees (Muhammad & Munir, 2017). E-banking 

provides several benefits to the Bangladeshi banking sector; nevertheless, the findings also revealed that Bangladeshi clients 

lack sufficient awareness about the services provided by the banking industry in Bangladesh through electronic banking 

(Hasan et al., 2010). In Bangladesh, the security and privacy components of the system must be enhanced for the 

proliferation of e-banking (Mohiuddin, 2014). If the security and privacy concerns are addressed, the future of E-banking 

has the potential to be very lucrative. It is anticipated that the future of electronic banking will be a system in which 

customers will be able to communicate with their banks "worry-free," and in which institutions would operate under a single 

set of rules. Mohiuddin (2015) discovered in his research that dealing officers of banks are not fully acquainted with their 

desk work, according to the findings. It has been noticed that the country would gain from the effective implementation of 

e-business and e-banking since this will aid in the increase of overall productivity in the country.  

Additionally, the monetary benefit realized by both the manufacturer and the client may have a reasonable and 

favorable influence on the country's gross domestic product. E-business, particularly with the assistance of e-banking, has 

the potential to help Bangladesh's economy grow more satisfyingly for its consumers. Attitudes about Internet banking are 

favorably influenced by ideas about trust and privacy (Ashraf et al., 2010). However, attitudes toward Internet banking are 

not shown to be significantly influenced by Internet banking behavior. Normalizing attitudes have a favorable impact on 

subjective norms, which in turn have an impact on Internet banking behavior. Similarly, views about one's own ability to 

control one's behavior with Internet banking have a good effect on perceived behavioral control, which in turn has a positive 



Chowdhury et al., Indian Journal of Finance and Banking 10(1) (2022), 45-53 

 

47 

effect on real online banking behavior. Hoque (2012) discovered in his study that there is a widespread consensus amongst 

Singaporeans that the Internet is a handy medium for information search and buy transactions. The respondents with higher 

levels of education appear to be less concerned about security risks. They also believe that online buying offers better pricing 

and more cost savings than traditional purchasing. Females express great dissatisfaction with the inability to enjoy a 

physically satisfying buying experience while purchasing online. Skvarciany and Jurevičienė (2018) in a study found that 

the respondents' poll, the factor that is essential for trust-building differs in each of the analyzed countries: in Lithuania, 

information and the bank, in Latvia, the website, and in Estonia, the bank is the item that is important for trust-building. 

According to the experts, the e-banking system is the most effective factor in the trust-building process in Lithuania and 

Latvia, while the website is the most important component in Estonia. The following constraints apply to this investigation: 

The online survey of individual customers (however, because internet banking is geared toward internet users, this limitation 

is not critical); the analysis of only the trust-building criteria that have a positive impact; and the assessment of only the sub-

factors by experts were the only limitations.  

Bangladeshi banks are performing their e-banking services with the assistance of non-technical personnel (Sadekin 

& Shaikh, 2016). The majority of Bangladeshi clients, both male, and female, are unaware of the importance of e-bank 

security. Many of them do not have access to a computer at their place of abode. Female users are more conscientious than 

their male counterparts. Low-educated persons are hesitant to do e-banking transactions, according to the findings of 

Sadekin et al. (2019). Customers' confidence depends on a variety of factors, including security measures, customer 

awareness, educational qualification, verification of e-transactions, the quality of e-services provided by banks, and the 

behavior of bankers. It is also possible that consumers' trust may be diminished if they have difficulty in making an electronic 

transfer, which would result in decreased confidence. Bangladeshi e-banking study reveals that the bare minimum of 

manpower is required for banking (Sadekin & Shaikh, 2015). Compared to traditional banking, e-banks require the least 

amount of personnel. Customers who withdraw and deposit money from ATM booths are concerned about being robbed by 

a hijacker. It is not safe to use any of the ATMs operated by Bangladeshi banks.  

 

Privacy 

One of the most pressing issues of Internet users is their privacy (Cranor, 1999). The integration of financial services into 

the Internet has heightened this level of anxiety (Chen et al., 2016). Privacy is defined as the right not to have one's inner 

life and affairs exposed to the public eye or otherwise infringed under tort law. As technology has progressed, how privacy 

has been preserved and compromised has evolved in parallel. In the case of some technologies, such as the Internet, the 

greater ability to exchange information might result in the development of new methods for violating people's privacy. The 

first publication to advocate for the privacy of personal information was Warren and Brandeis (1989), who argued that an 

individual should have complete protection in both person and property. Furthermore, this is the most crucial reason why 

bank customers do not wish to do online banking transactions via the Internet. 

Even though conceptions of privacy are fundamental to understanding individual behavior on the Internet, the bulk 

of privacy concerns associated with Internet banking appears to be governed by the property connection between privacy 

and confidentiality. In the case of the GVU Internet surveys conducted in 1997, the results revealed that 53 percent of online 

clients are concerned about commercial websites collecting their personal information, and 66 percent do not register with 

the website out of concern that their personal information will be misused (GVU, 1997). 

The topic of privacy has been debated in various forms and circumstances for more than a century by a diverse 

range of stakeholders including attorneys, philosophers, sociologists, psychologists, economists, technologists, politicians, 

and others. Developing privacy-preserving social network applications for a privacy-threat model that can be used to 

improve the security of stakeholders, including attorneys, philosophers, sociologists, psychologists, economists, 

technologists, politicians, and others by identifying the issues at stake related to the processing of personally identifiable 

information (Weiss, 2009). Weiss's (2009) in his paper describes the major requirements for developing privacy-preserving 

social network applications, as well as the privacy-threat model. 

 

Trust 

Trust refers to the willingness to be exposed to the actions of another party in the expectation that the other will perform a 

specific action important to the person who has placed their trust in them, regardless of the person's ability to monitor or 

control the actions of the other party (Dwyer et al., 2007). A positive interpersonal connection can only be established by 

ongoing reciprocal interaction on both sides of this argument. 

 Acknowledgment of the role of trust as a major driver for electronic transactions is growing in both the academic and 

corporate realms (Bhattacherjee, 2002; Lim et al., 2012). Two factors contribute to the success of online transactions: first, 

the ability of the customer to trust the merchant. First and foremost, online transactions frequently need the exchange of 

sensitive personal, business, and financial information between the parties involved in the transaction (Lee & Turban, 2001). 

Second, with online transactions, clients often trade with people with whom they have had little or no prior encounter. This 

is especially true for small businesses (Pavlou & Gefen, 2004). 

 

HYPOTHESIS AND CONCEPTUAL FRAMEWORK DEVELOPMENT 

H1: There is a significant effect of communication infrastructure facility on E-Banking customer satisfaction. 

H2: There is a significant effect of the E-Banking communication environment on E-Banking customer satisfaction. 

H3: There is a significant effect of E-Banking customer satisfaction on E-Banking customer trust. 

H4: There is a significant effect of E-Banking customer trust on the demographic variable (type of bank used, gender, 

education). 



Chowdhury et al., Indian Journal of Finance and Banking 10(1) (2022), 45-53 

 

48 

H5: There is a significant effect of E-Banking customer trust in the Covid-19 situation (started E-Banking during Covid-19 

situation and before Covid-19 situation). 

 

From the above discussion and review of literature, a research framework can be developed. The framework is as follows: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

METHODS 

A survey questionnaire was developed from the literature review to conduct the study. The developed survey questionnaire 

was pre-tested with 12 respondents. Then necessary corrections and modifications were made according to the suggestion 

of the respondents. Then the questionnaire was distributed among the 460 E-Banking customers selected by stratified 

random sampling in randomized block design via hand-to-hand and E-mail. The collected response data are coded (five-

point Likert scale ranging from 1 = Strongly disagree with the opinion to 5 = Strongly agree with the opinion) in IBM SPSS 

Statistics 20 and IBM SPSS AMOS 22 software. Among the coded response data, 400 response data are selected for final 

analysis (as some respondents answered all the questions are the same rank and did not answer many questions). Among 

the valid respondents, 108 are intermediate qualifications (now an undergraduate students), 168 are bachelor qualifications 

(now doing masters) and 124 are master's qualifications (now in service). 232 responders are male and 168 respondents are 

female, whereas 248 respondents are from private banks and 152 respondents are from a public bank in the data set. Also, 

152 respondents started E-Banking during the Covid-19 period (less than 2 years of E-Banking experience) and 248 

respondents started E-Banking before the Covid-19 period (more than 2 years of E-Banking experience). 

The descriptive analysis value with the frequency of each response variable is calculated. Factor analysis with 

Cronbach's Alpha value of each factor and Kaiser-Meyer-Olkin Measure for Sampling Adequacy are conducted with all the 

response variables to classify them into challenge factors. Then Structure Equation Model (SEM) is developed to identify 

factors that influence the performance of online satisfaction. Also, Kolmogorov Smirnov Test, ShapioWilk Test, Mann-

Whitney Test, Kruskal-Wallis Test, and Least Significant Difference (LSD) Test are conducted to determine the significant 

difference in the performance of online satisfaction with demographic variables. Finally, the online opportunity creation is 

measured from the performance of the online satisfaction factor in the COVID-19 situation. 

 

RESULT AND DISCUSSION 

The descriptive statistics (N, Sum, Max, Min, Mean and Standard deviation) results are shown in Table 1. 

Table 1. Descriptive Analysis Result of Questionnaire Variables 

 
Sl. 

No 

Questionnaire Variable Name N Min Max Mean Standard 

Deviation 

A E-Banking Customer Trust       

1 The grade you Trust on E-Banking  EBankTrust 400 2 5 3.40 1.064 

B E-Banking Customer Satisfaction       

E-Banking 

Customer 

Trust  

E-Banking 

Customer 

Satisfaction  

communication 
infrastructure 
facility 

E-Banking 
communication 
environment 

Types of Bank 

Gender 

Education 

Before Covid-19 

During Covid-19 

Demographics 

E-banking Started 

H1 

H2 

H3 

H4 

H5 

Dependent Variable Independent Variables 

Figure 1. Research Framework 



Chowdhury et al., Indian Journal of Finance and Banking 10(1) (2022), 45-53 

 

49 

1 Are you satisfied with the service quality 
of E-Banking 

Satisfy1 400 1 5 3.28 1.045 

2 Are you satisfied with the security of E-

Banking? 

Satisfy2 400 1 5 3.09 1.147 

3 Are you satisfied with E-Banking 
network facilities? 

Satisfy3 400 1 5 3.22 1.115 

C Communication Infrastructure Facilities       

1 The facility of Tele communication 

network 

Facility1 400 2 5 3.70 0.959 

2 The facility of Web Technology Facility2 400 1 5 3.18 1.067 

3 The facility of communication software Facility3 400 1 5 3.15 1.009 

4 Computer / Laptop / Tab / Cellular phone Facility4 400 1 5 3.25 1.123 

5 The facility of Antivirus security Facility5 400 1 5 3.06 0.983 

D E-Banking Communication Environment       

1 E-Banking operation Environment1 400 1 5 3.19 1.098 

2 Adoption of E-Banking Environment2 400 1 5 3.21 0.998 

3 Growth of E-Banking Environment3 400 2 5 3.72 0.922 

4 Social acceptance Environment4 400 1 5 3.13 1.203 

5 Perceive E-Banking enjoyment Environment5 400 1 5 3.14 1.045 

 

From the above descriptive table, the mean and standard deviation for E-Banking Customer Trust is 3.40 and 1.064, 

for E-Banking Customer satisfaction mean and standard deviation variation is 3.09 to 3.28 and 1.045 to 1.147, for E-Banking 

Communication Facilities mean and standard deviation variation are 3.06 to 3.70 and 0.959 to 1.123 and for E-Banking 

Communication Environment mean and standard deviation variation are 3.13 to 3.72 and 0.922 to 1.203 respectively. The 

result shows that the mean and standard deviation values vary with overlapping each other, so factor analysis may be 

conducted to test the questionnaire and to classify the questionnaire into different factors, which is demonstrated in Table 

2. 

 

Table 2. Factor Analysis and Cronbach's Alpha Values of Response Variables 

 
 Rotated Component Matrixa  

Factor Variables Component Cronbach's 

 1 2 3 4 Alpha 

E-Banking  Environment4 0.859    0.882 

Communication  Environment1 0.830     

Environment Environment2 0.826     

 Environment5 0.817     

 Environment3 0.734     

Communication  Facility3  0.868   0.785 

Infrastructure  Facility4  0.846    

Facilities Facility5  0.784    

 Facility2  0.613    

 Facility1  0.503    

E-Banking  Satisfy3   0.863  0.783 

Customer  Satisfy2   0.835   

Satisfaction Satisfy1   0.761   

E-Banking Customer 

Trust 

EBankTrust    0.885 Not Applicable 

 Extraction Method: Principal Component Analysis.  
Rotation Method: Varimax with Kaiser Normalization. 

 

 a. Rotation converged in 5 iterations.  

 

In the factor analysis, the Kaiser-Meyer-Olkin Measure of Sampling Adequacy value is 0.738 (significance level 

0.000). So, we can apply the factor analysis method to divide the response variable into different factors. In table 2, (factor 

analysis) the survey response values are classified into four factors such as E-Banking Communication Environment (factor 

loading 0.859 to 0.734), Communication Infrastructure Facilities (factor loading 0.868 to 0.503), E-Banking Customer 

Satisfaction (factor loading 0.863 to 0.761) and E-Banking Customer Trust (factor loading 0.885) respectively. The factor 

loading result shows all factor loadings are greater than 0.400, which indicates all measurements for each factor have good 

reliability. 

The Cronbach's Alpha value of each factor as E-Banking Communication Environment is 0.882, Communication 

Infrastructure Facilities is 0.785, and E-Banking Customer Satisfaction respectively (all the Cronbach's Alpha values are > 

0.7). For the E-Banking Customer Trust factor, Cronbach's Alpha value is not calculated as there is only one questionnaire. 

It indicates that the survey response with factors is most reliable and consistent. Based on the above factor analysis result, a 

structural equation model of E-Banking customer satisfaction and E-Banking Customer Trust with demographic variables 

is developed (Figure 1). 



Chowdhury et al., Indian Journal of Finance and Banking 10(1) (2022), 45-53 

 

50 

 

Figure 2. Structural Equation Model of E-Banking Satisfaction and E-Banking Customer Trust with Demographic Variables 

 

From the above structure equation model, the factor loadings for Communication Infrastructure Facilities is 1.37 – 

2.49, for E-Banking Communication Environment is 0.62 – 1.32, and for E-Banking, Customer Satisfaction is 1.00 – 1.60 

respectively. Here all the factor loadings are very high and significant (p < 0.05). The error variance for Communication 

Infrastructure Facilities, E-Banking Communication Environment, E-Banking Customer Satisfaction, and E-Banking 

Customer Trust are 0.28 to 0.87, – 0.05 to 0.66, 0.14 to 0.75, and 0.75 respectively. The covariance values are 0.17 to 0.43, 

which are also significant (p < 0.05). In the model, χ2 /df is 1.058 (which is < 3), comparative fit index (CFI) value is 0.988 

(which is > 0.9), Incremental fit index (IFI) is 0.988 (which is > 0.9), Tucker Lewis index (TLI) is 0.986 (which is > 0.9), 

Root Mean Square Error of Approximation is 0.0324 (which is < 0.08). Here, the model meets all the standards of the survey 

and hence the model is well-fitted. 

The path coefficient of Communication Infrastructure Facilities to E-Banking Customer Satisfaction is 0.27 (p < 

0.192). As the p-value is greater than 0.05, there is not enough evidence to reject Hypothesis (Null) 1 for Communication 

Infrastructure Facilities. So, the Communication Infrastructure Facilities factor has no significant effect on the E-Banking 

Customer Satisfaction. 

The path coefficient of E-Banking Communication Environment to E-Banking Customer Satisfaction is 0.17 (p = 

0.024). As the p-value is less than 0.05, Hypothesis (Null) 2 is rejected for E-Banking Communication Environment. So, 

the E-Banking Communication Environment factor has a positive significant effect on E-Banking Customer Satisfaction. 

The path coefficient of E-Banking Customer Satisfaction to E-Banking Customer Trust is 0.44 (p = 0.004). As the 

p-value is less than 0.05, Hypothesis (Null) 3 is rejected for E-Banking Customer Satisfaction. So, the E-Banking Customer 

Satisfaction factor has a positive significant effect on the E-Banking Customer Trust. 

The mean value of the E-Banking Customer Trust (400 observations) variable is 3.40 with a standard deviation is 

1.064. The test statistic value of Kolmogorov Smirnov Test is 0.227 (p = 0.000) and ShapioWilk Test is 0.862 (p = 0.000). 

As the p values are less than 0.05, the response values of the E-Banking Customer Trust variable are not normally distributed. 

So, Mann-Whitney Test and Kruskal-Wallis Test are conducted to determine the significant difference in E-Banking 

Customer Trust for demographic variables (type of bank used, gender, education) and Covid-19 Situation. 

 

Table 3. E-Banking Customer Trust with Demographic Variables and Covid-19 Situation 

 
Measured 

variable 

Measured value Number of 

observations 

Mean of E-

Banking 

Customer 

Trust 

The standard 

deviation of E-

Banking 

Customer Trust 

Test Test-

statistic 

value 

Sig. (2 

tail) 

E-Banking 
Customer Trust 

Normality test 400 3.40 1.064 Kolmogorov 
Smirnov Test 

0.227 0.000 

ShapioWilk Test 0.862 0.000 

Type of  Private bank 248 3.66 1.007 Mann- 3.194 0.001 

bank used Public bank 152 2.97 1.026 Whitney Test (z)   

Gender Male 232 3.50 1.047 Mann- 1.154 0.249 
 Female 168 3.26 1.083 Whitney Test (z)   

Educational  Intermediate 108 2.93 0.874 Kruskal- 7.411 0.025 

Qualification Bachelor’s degree 168 3.55 1.131 Wallis Test (Chi-   
 Master’s degree 124 3.61 1.022 Square)   

Covid-19 

Situation 

Started E-Banking 

during Covid-19 

situation 

152 3.92 1.100 Mann- Whitney 

Test (z) 

3.704 0.000 



Chowdhury et al., Indian Journal of Finance and Banking 10(1) (2022), 45-53 

 

51 

Measured 

variable 

Measured value Number of 

observations 

Mean of E-

Banking 

Customer 

Trust 

The standard 

deviation of E-

Banking 

Customer Trust 

Test Test-

statistic 

value 

Sig. (2 

tail) 

 Started E-Banking 
before the Covid-

19 situation 

248 3.08 0.911    

 

The path coefficient of the Type of bank used for E-Banking Customer Trust is 0.51 (p = 0.004). As the p-value is 

less than 0.05, Hypothesis (Null) 4 is rejected for the Type of bank used. So, the Type of bank used has a significant effect 

on the E-Banking Customer Trust. The mean standard deviation value of E-Banking Customer Trust for the private bank 

(62 observations) is 3.66 ± 1.007 and for the public bank (38 observations) is 2.97 ± 1.026. So, the result shows E-Banking 

Customer Trust is higher in private banks than that public banks. The Mann–Whitney Test (z) statistic is 3.194 (p = 0.001). 

As the p-value is less than 0.05, so the E-Banking Customer Trust value of the private bank is significantly higher than that 

of a public bank.  

The path coefficient of Gender to E-Banking Customer Trust is 0.30 (p = 0.086). As the p-value is greater than 

0.05, there is not enough evidence to reject Hypothesis (Null) 4 for Gender. So, Gender has no significant effect on E-

Banking Customer Trust. The mean standard deviation value of E-Banking Customer Trust for males (59 observations) is 

3.50±1.047 and for the public bank (42 observations) is 3.26± 1.083. So, the result shows E-Banking Customer Trust is 

higher in males than females. The Mann–Whitney Test (z) statistic is 1.154 (p = 0.249). As the p-value is greater than 0.05, 

so the E-Banking Customer Trust of the male is the same as the female. 

The path coefficient of Educational Qualification to E-Banking Customer Trust is 0.24 (p = 0.037). As the p-value 

is less than 0.05, Hypothesis (Null) 4 is rejected for Educational Qualification. So, Educational Qualification has a 

significant effect on E-Banking Customer Trust. The mean standard deviation value of E-Banking Customer Trust for 

intermediate respondents is 2.93 ± 0.874, for bachelor's degree respondents is 3.55 ± 1.131 and for master's degree 

respondents is 3.61 ± 1.002. So, the result shows E-Banking Customer Trust is highest in master's degree respondents and 

lowest in intermediate-level respondents. The Kruskal-Wallis Test (Chi Square) statistic is 7.411 (p = 0.025). As the p-value 

is lower than 0.05, so the E-Banking Customer Trust is different for different education levels. To determine the significant 

difference between E-Banking Customer Trust at different education levels Least Significant Difference (LSD) is calculated. 

 

Table 4. LSD of E-Banking Customer Trust with Educational Qualification 

 
Dependent Variable: EBankTrust LSD 

Education (I) Education(J) Mean Difference (I-J) Std. Error Sig. 

Intermediate 
Bachelor’s degree -.622* .255 .017 

Master’s degree -.687* .272 .013 

Bachelor’s degree 
Intermediate .622* .255 .017 

Master’s degree -.065 .245 .790 

Master’s degree 
Intermediate .687* .272 .013 

Bachelor’s degree .065 .245 .790 

*. The mean difference is significant at the 0.05 level. 

 

From the above LSD table, the difference between the E-Banking Customer Trust value for intermediate and 

bachelor's degrees is 0.622 (p = 0.017) and for intermediate and master's degrees is 0.687 (p = 0.013). As the p values are 

less than 0.05, there is a significant difference in the E-Banking Customer Trust value of intermediate from both bachelor's 

and master's degree respondents. But the difference between the E-Banking Customer Trust value of the bachelor's degree 

and master's degree is 0.065 (p = 0.790). As the p values are greater than 0.05, there is no significant difference in the E-

Banking Customer Trust value of bachelor's degree and master's degree respondents. 

The path coefficient of Covid-19 situation (Started E-Banking during Covid-19 situation and before Covid-19 

situation) to E-Banking Customer Trust is 0.66 (p < 0.000). As the p-value is less than 0.05, Hypothesis (Null) 5 is rejected 

for the Covid-19 situation. So, the Covid-19 situation has a significant effect on the E-Banking Customer Trust. The mean 

standard deviation value of E-Banking Customer Trust for Started E-Banking during the Covid-19 situation is 3.92± 1.100 

and for Started E-Banking before the Covid-19 situation is 3.08± 0.911. So, the result shows E-Banking Customer Trust is 

higher in Started E-Banking during the Covid-19 situation than that of Started E-Banking before the Covid-19 situation. 

The Mann–Whitney Test (z) statistic is 3.704 (p < 0.000). As the p-value is less than 0.05, the E-Banking Customer Trust 

value of Started E-Banking during the Covid-19 situation is significantly higher than that of Started E-Banking before the 

Covid-19 situation.  

 

SUMMARY OF FINDINGS AND RECOMMENDATIONS 

 The customers are satisfied with the communication infrastructure facilities So E-Banking has the opportunity to 

grow rapidly in the next future days, especially in the pandemic situations. 

 The E-Banking Communication Environment has a positive significant effect on E-Banking Customer Satisfaction. 

So, there is a prospect that the proliferation of the E-Banking communication environment will lead to the 

enhancement of customer satisfaction. 

 The E-Banking Customer Satisfaction factor has a positive significant effect on the E-Banking Customer Trust. 

So, with the increase in customer satisfaction, the E-Banking Customer Trust will be enhanced. 



Chowdhury et al., Indian Journal of Finance and Banking 10(1) (2022), 45-53 

 

52 

 The E-Banking Customer Trust value of the private bank is significantly higher than that of the public bank. So, 

the public bank authority may take necessary action to increase customer satisfaction, as a result, to increase the 

E-Banking customer trust for the rapidly growing E-Banking process to make a profit. 

 Both male and female customers equally trust the rapidly growing E-Banking transaction process. So, in the future, 

the E-Banking transaction process will grow more in the safe Covid-19 pandemic situation. 

 Result shows, that bachelor's degree, and master's degree customers have more trust in the E-Banking process than 

that of the intermediate level customers. So, the E-Banking transaction process awareness program may be 

conducted in that segment of the customers. 

 Customers who started e-banking transactions during Covid-19 own more trust value than the customers who 

started transactions before the pandemic  

 

CONCLUSION 

The study shows, that the Communication Infrastructure Facilities factor has no significant effect on E-Banking Customer 

Satisfaction. So, the Communication Infrastructure Facilities are needed to be improved for E-Banking for greater customer 

satisfaction. E-Banking Communication Environment has a positive significant effect on E-Banking Customer Satisfaction. 

It is revealed that the E-Banking Customer Satisfaction factor has a positive significant effect on the E-Banking Customer 

Trust. It is also observed that the E-Banking Customer Trust value of the private bank is significantly higher than that of the 

public banks. Both male and female customers equally trust the rapidly growing E-Banking transaction process. The analysis 

indicates that better educated customers like bachelor and master degree holder customers hold more trusts on the E-Banking 

process than the intermediate level customers. The started E-Banking during the Covid-19 situation has higher E-Banking 

Customer Trust value than the started E-Banking before the Covid-19 situation. So, the E-Banking transaction process 

should rapidly be growing more and more in the Covid-19 pandemic situation in the future for ensuring sound health. 
 

 

Author Contributions: Conceptualization, M.S.A.C., M.S.I., M.S.H., M.S.R.C. and M.E.H.; Data Curation, M.S.A.C.; Methodology, M.S.A.C. and 

M.S.H; Validation, M.S.A.C. and M.S.H; Visualization, M.S.A.C; Formal Analysis, M.S.A.C.; Investigation, M.S.A.C.; Resources, M.S.A.C.; Writing – 
Original Draft, M.S.A.C. and M.S.H; Writing – Review & Editing, M.S.A.C. and M.S.H; Supervision, M.S.A.C. and M.S.H; Project Administration, 

M.S.A.C. and M.S.H; Funding Acquisition, M.S.A.C., M.S.I., M.S.H., M.S.R.C., and M.E.H. Authors have read and agreed to the published version of the 

manuscript. 

Institutional Review Board Statement: Ethical review and approval were waived for this study, due to that the research does not deal with vulnerable 

groups or sensitive issues. 

Funding: The authors received no direct funding for this research. 

Informed Consent Statement: Informed consent was obtained from all subjects involved in the study. 

Data Availability Statement: The data presented in this study are available on request from the corresponding author. The data are not publicly available 

due to restrictions. 

Conflicts of Interest: The authors declare no conflict of interest.  

                                                                                                                                        

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