Acta Univ. Agric. Silvic. Mendelianae Brun. 2013, 61(7), 1995-2003 | DOI: 10.11118/actaun201361071995

The development of customers' satisfaction in the banking sector of Slovakia in the turbulent economic environment

Jaroslav Belás1, Lubor Homolka2
1 Department of Enterprise Economics, Tomas Bata University in Zlin, Mostní 5139, 760 01 Zlín, Czech Republic
2 Department of Statistics and Quantitative Methods, Tomas Bata University in Zlin, Mostní 5139, 760 01 Zlín, Czech Republic

Satisfaction of bank's customers presents important area of building of long-term relationships with the client, which significantly determines the financial performance of commercial banks through successful business. Satisfied customer buy bank's products, is willing to pay also higher price for the product or service and represents some form of free advertising and considerable less effort, time and money needed for keep him, than to get a new one. This article presents current situation in the banking sector in Slovakia and quantifies changes in the area of customer satisfaction, which occurred during the financial and economic crisis. Customer satisfaction research has been conducted through a questionnaire survey. First research has been carried out on the first half of 2008 on the sample of 298 respondents, ie. the time before the financial crisis. In that time, the greatest satisfaction has been assigned to the availability of bank's products and services, and the greatest dissatisfaction has been expressed by respondents to the prices of banking products and services. In 2012, this research has been conducted on the sample of 320 respondents. The change of satisfaction factors, respectively dissatisfied bank's customers compared with 2008 has been investigated by standard statistical methods. Results of our research in 2012 showed satisfaction reduction of bank customers and also changes in respondents' preferences of the perception of satisfaction factors, respectively dissatisfaction in relation to commercial banks.

Keywords: commercial banks, customers' satisfaction, attributes of customers' satisfaction and dissatisfaction, development of customers' satisfaction
Grants and funding:

This paper was supported by Project No. IGA/FaME/2013/010: Satisfaction mirror effect and bank financial performance.

Received: April 11, 2013; Published: December 24, 2013  Show citation

ACS AIP APA ASA Harvard Chicago IEEE ISO690 MLA NLM Turabian Vancouver
Belás, J., & Homolka, L. (2013). The development of customers' satisfaction in the banking sector of Slovakia in the turbulent economic environment. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 61(7), 1995-2003. doi: 10.11118/actaun201361071995
Share...
Download citation
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Open full article

    References

    1. BAUMANN, CH., ELLIOTT, G., BURTON, S., 2012: Modelling customer satisfaction and loyalty: survey data versus data mining. Journal of Services Marketing, 26, 3: 148-157. ISSN 0887-6045. [cit. 2013-10-1] Cited from: http://dx.doi.org/10.1108/08876041211223951. DOI: 10.1108/08876041211223951 Go to original source...
    2. BELÁS, J. a kol., 2010: Management komerčných bánk, bankových obchodov a operácií. Žilina: Georg, 471 p. ISBN 978-80-89401-18-5.
    3. BELÁS, J., 2008: Retail banking. Bratislava: Iura Edition, 207 p., ISBN 978-80-8078-190-3.
    4. BERRY, J., 2005: Franchising in Retail Financial Services. London: VRL Publishing Ltd., 131 p. ISBN 1-905457-01-4
    5. CROXFORD, H., ABRAMSON, F., JABLONOWSKI, A., 2006: The art of better retail banking. England, Chichester: John Wiley & Sohs, Ltd, 276 p. ISBN 0-470-01320-6.
    6. DELOITTE, 2012: Prieskum: Viac ako polovica Slovákov nie je verná jednej banke. Bratislava. Tlačová správa, 21. 6. 2012. [cit. 2012-12-10] Cited from: http://www.deloitte.com/view/sk_SK/sk/press/sk-press-releases/0b5e168d47e08310VgnVCM2000001b56f00aRCRD.htm.
    7. ERNST & YOUNG, 2012: Nová éra bankovnictví. Čeští klienti chtějí, aby banky vyšly více vstříc jejich potřebám. Praha, Tlačová správa, 25. 6. 2012. [cit. 2012-12-10] Cited from:http://www.ey.com/CZ/cs/Newsroom/News-releases/2012_Nova-era-bankovnictvi.
    8. ERNST & YOUNG, 2011: Bankovníctvo sa vo vyspelých krajinách stretáva s klesajúcou dôverou klientov. Bratislava, Tlačová správa, 22.3.201. [cit. 2012-12-10] Cited from: http://www.ey.com/Publication/vwLUAssets/2011_Retail_banking_SK/$FILE/TS_%20Retailove%20bankovnictvo_SK.pdf.
    9. GELADE, G. A., YOUNG, S., 2005: Test of a service profit chain model in the retail banking sector. Journal of Occupational and Organizational Psychology, 78, 1: 1-22. ISSN 2044-8325. [cit. 2013-1-16] Cited from: http://www.bpsjournals.co.uk/10.1348/096317904X22926. DOI: 10.1348/096317904X22926 Go to original source...
    10. GRAAFLAND, J. J., VAN DE VEN, B. W., 2011: The Credit Crisis and the Moral Responsibility of Professionals in Finance. Journal of Business Ethics, 103: 605-619. ISSN 1573-0697. DOI: 10.1007/s10551-011-0883-0 Go to original source...
    11. HESKETT, J. L., JONES, T. O., LOVERMAN, G. W., SASSER, W. E., SCHLESINGER, L. A., 1994: Putting the Service-Profit Chain to Work. Harvard Business Review, March- April, pp. 163-174. [cit. 2013-1-16] Cited from: http://pagesetup.com/images/content/hbr-article.pdf.
    12. CHAKRABARTY, A., 2006: Barking up the wrong tree-factors influencing customer saficfaction in retail banking in the UK. International Journal of Applied Marketing, 1, 1. ISSN 1742-2612. [cit. 2013-1-16] Cited from: www.managementjournals.com/journals/marketing/index.htm.
    13. KAMAKURA, W. A., MITTAL, V., De ROSA, F., MAZZON, J. A., 2002: Assessing the Service-Profit Chain. Marketing science, 21, 3: 294-317. ISSN 0732-2399. DOI: 10.1287/mksc.21.3.294.140 Go to original source...
    14. KORAUŠ, A., 2011: Finančný marketing. Bratislava: Sprint, 536 p. ISBN 978-80-89393-31-2.
    15. LAGES, C. R., PIERCY, N. F., 2012: Key Drivers of Frontline Employee Generation of Ideas for Customer Service Improvement. Journal of Service Research, 15, 2: 215-230. ISSN 1094-6705. [cit. 2013-1-16] Cited from: http://jsr.sagepub.com/content/15/2/215.full.pdf+html. DOI: 10.1177/1094670511436005 Go to original source...
    16. MADDERN, H., MAULL, R., SMART, A., 2007: Customer satisfaction and service quality in UK financial services. International Journal of Operations&Production Management, 27, 9: 999-1019. ISSN 0144-3577. [cit. 2013-1-16] Cited from: http://dx.doi.org/10.1108/01443570710775838. DOI: 10.1108/01443570710775838 Go to original source...
    17. MANDAHACHITARA, R., POOLTHONG, Y., 2011: A model of customer loyalty and corporate social responsibility. Journal of Service Marketing, 25, 2: 122-133. ISSN 0887-6045. [cit. 2013-1-16] Cited from: http://dx.doi.org/10.1108/08876041111119840. DOI: 10.1108/08876041111119840 Go to original source...
    18. SAURA, I. G., CONTRÍ, G. B., TAULET, A. C., VELAZQUEZ, B. M., 2005: Relationships among customer orientation, service orientation and job satisfaction in financial services. Journal of Service Management, 16, 5: 497-520. ISSN 1757-5818. Go to original source...
    19. WALKER, A. G., SMITHER, J. W., WALDMAN, D. A., 2008: A Longitudinal examination of concomitant changes in team leadership and customer satisfaction. Personnel psychology, 61: 547-577. ISSN 1744-6570. DOI: 10.1111/j.1744-6570.2008.00122.x Go to original source...

    This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.


    Return to the content