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Study of internal and external factors influencing the choice of multi-banking relationships among SMEs in Senegal: an approach using multinomial logistic regression

Author

Listed:
  • Amon Anike Deh

    (Université Assane SECK de Ziguinchor)

  • Sarata Barry

    (Université Assane SECK de Ziguinchor)

  • Fatoumata Thiam

    (Université Assane SECK de Ziguinchor)

Abstract

SMEs (Small and Medium Enterprises) play a critical role in Senegal's economy. Some SMEs choose to work with only one bank (monobanking), while others engage with multiple banks (multibanking). This study aims to examine both internal and external determinants that influence SMEs' decision to opt for multibanking. Using data collected from 105 SME managers in Senegal, the research employs multinomial logistic regression which shows that internal factors such as the size of the SME, its maturity, and the manager's experience, significantly drive multibanking, while external factors, such as the quality of banking services, negatively influence this decision. Knowledge of these factors could help to improve the bank-SME relationship, resulting in a win-win situation that better meets the needs of SMEs and increases the loyalty of the main bank's customers. This could contribute to better performance for both players. Key Words:Multi-banking, banking, SMEs, multinomial logistic regression

Suggested Citation

  • Amon Anike Deh & Sarata Barry & Fatoumata Thiam, 2025. "Study of internal and external factors influencing the choice of multi-banking relationships among SMEs in Senegal: an approach using multinomial logistic regression," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 14(3), pages 218-230, April.
    • Handle: RePEc:rbs:ijbrss:v:14:y:2025:i:3:p:218-230
    DOI: 10.20525/ijrbs.v14i3.4149
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