The relationship among customer satisfaction, loyalty and financial performance of commercial banks

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dc.contributor.authorBelás, Jaroslav
dc.contributor.authorGabčová, Lenka
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2016-03-09
dc.date.available2016-03-09
dc.date.defense2016-03-09
dc.date.issued2016-03-09
dc.description.abstractIn the current banking sector, characterized by an increasing competition, efficient management of selling additional products and services to existing satisfied customers represents a significant opportunity to improve the financial performance of a commercial bank. To sum up, the conclusion of the up to date literature is an idea that customer satisfaction leads to customer loyalty and loyalty leads to willingness to purchase additional products. However, there are practically no papers quantifying the influence of loyalty on additional products purchases. The aim of this paper is to create a model among customer satisfaction, loyalty and financial performance of commercial banks in the Czech Republic. It is based on our original research realized as a survey with a total of 459 respondents that have been reached. The created model has proven that product quality, recognition of customers´ financial needs and acceptance of prices by a customer have an impact on customer satisfaction, which then influences customer loyalty and this in return influences additional purchases potential of a customer. The regression model of relation between customer satisfaction and loyalty of bank customer has this form: CL = 0.01163 + 0.9191 x CS, where: CL – customer loyalty, CS – customer satisfaction. The regression model of relation between customer loyalty and additional purchases: APP = -0.05667 + 0.5848 x CL, where: APP – additional purchases potential, CL – customer loyalty. At the end, the paper is dedicated to a model example showing that if a commercial bank is able to increase the number of satisfied customers by 10,000, it can obtain additional yearly income of EUR 9.6 million.en
dc.formattext
dc.format.extent132-147 s.cs
dc.identifier.doi10.15240/tul/001/2016-1-010
dc.identifier.eissn2336-5604
dc.identifier.issn12123609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/13611
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
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dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectbusiness continuity managementen
dc.subjectuse case pointsen
dc.subjectbusiness continuity testing pointsen
dc.subjectbusiness function recoveryen
dc.subject.classificationG21
dc.titleThe relationship among customer satisfaction, loyalty and financial performance of commercial banksen
dc.typeArticleen
local.accessopen
local.citation.epage147
local.citation.spage132
local.facultyFaculty of Economics
local.fulltextyes
local.relation.abbreviationE&Men
local.relation.abbreviationE+Mcs
local.relation.issue1
local.relation.volume19
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