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Social conscience of financial institutions as a solution for retaining relationships with customers in the face of the global crisis

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  • Edyta Rudawska

    (Marketing Department. Faculty of Economics and Management. University of Szczecin)

Abstract

Poland’s economic environment has undergone dramatic changes in the last two years. Consequently, companies have become more insecure and experienced an increase in risk to their activities; moreover, consumers have become worried. Poland’s sector of banking services has suffered greatly due to the crisis, especially as far as their image is concerned. The research shows that a 20% decline in the sense of security, credibility and trust has been observed compared to the time span from two years ago. The crisis has caused banks to reconsider their previous business models. As institutions of public trust they have to become more engaged on social issues. This study presents examples of social commitment of Poland’s financial institutions during the crisis and shows the influence of these activities on customers’ loyalty in the face of the crisis. Social activities performed by banks between 2008 and 2010 in Poland have also been assessed.

Suggested Citation

  • Edyta Rudawska, 2011. "Social conscience of financial institutions as a solution for retaining relationships with customers in the face of the global crisis," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 95-103.
    • Handle: RePEc:ura:ecregj:v:1:y:2011:i:3:p:95-103
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