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Customer Loyalty and its Determinants in a Banking Services Environment

Author

Listed:
  • Alina Filip

    (The Bucharest Academy of Economic Studies, Romania)

  • Laurentiu-Dan Anghel

    (The Bucharest Academy of Economic Studies, Romania)

Abstract

The present paper presents the methodology and the main results of a quantitative study applied on a sample of 1010 respondents, in the Romanian banking industry. The aim of the study was to research the customer level of loyalty toward Romanian organizations acting in the retail banking sector. According to similar researches in the field, loyalty is a complex construction, which comprises both psychological and behavioural components, fact also proved by the results of the present research. As the survey results show, Romanian customers remain in relationships with banks due to the existence of both favourable attitudes or positive motivations (representing 46,36% of the total retention motivations) and constraint factors or inertia (representing 52,44% of the total retention motivations). At the same time, the results prove that the level of loyalty stated by customers is supported not only by the level of satisfaction, but also by factors like: bank’s attitude towards its own customers, the level of customer trust toward the organization or its employees in ensuring the financial interests of clients, and also by the level of customer commitment. Customer switching behaviour is determined in 58% of cases by the high level of dissatisfaction toward the banks’ policy of price.

Suggested Citation

  • Alina Filip & Laurentiu-Dan Anghel, 2009. "Customer Loyalty and its Determinants in a Banking Services Environment," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 11(26), pages 288-297, June.
    • Handle: RePEc:aes:amfeco:v:11:y:2009:i:26:p:288-298
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    Citations

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    Cited by:

    1. Doru Plesea & Rodica Pamfilie & Irina Maiorescu, 2011. "The Relationship Communication Structure - Uncertainty Avoidance Reflected in Romanian Websites Design," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(Special N), pages 746-753, November.
    2. Md Aslam Mia, 2024. "Loyalty of rural microfinance borrowers: International evidence," Bulletin of Economic Research, Wiley Blackwell, vol. 76(1), pages 67-94, January.
    3. Cătălina Chirica, 2013. "Relationship Marketing - Best Practice in the Banking Sector," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(33), pages 288-300, February.
    4. Matevž Rasković & Barbara Mörec, 2012. "Organizational Change and Corporate Sustainability in an Economic Crisis: Evidence from Slovenia," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 522-536, June.
    5. Olubayo John Popoola & Linus vem & Gambo Nanven Jephthah & Nanfa Kusa & Janet Onayi Emmanuel, 2022. "The Role of Customer Relationship Management on Customer Loyalty among Selected Banks in Jos, Plateau State Nigeria: The Mediating Role of Positive Word of Mouth and Organisation Prestige," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(3), pages 406-414, March.
    6. Dimas Maulana & Sudarso Kaderi Wiryono & Mustika Sufiati Purwanegara, 2019. "Investigating Consumer Preference in Banking Services: A Conjoint Analysis Study," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 187-197.
    7. Murali, S. & Pugazhendhi, S. & Muralidharan, C., 2016. "Modelling and Investigating the relationship of after sales service quality with customer satisfaction, retention and loyalty – A case study of home appliances business," Journal of Retailing and Consumer Services, Elsevier, vol. 30(C), pages 67-83.
    8. Hadi Ibrahim & Ibn Kailan Abdul-Hamid & Muhammed Abdulai, 2021. "Revisiting Young Customers’ Bank Selection and Loyalty Decisions in Ghana," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 7(2), pages 203-226, April.

    More about this item

    Keywords

    research; banking services; customer behaviour; customer loyalty; relationship marketing;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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