Customer-driven philosophy in the banking industry under different ownership status: the case of Greece

Lucas G. Papazissimou and Antonios Georgopoulos

The Service Industries Journal, 2007, vol. 29, issue 5, 607-620

Abstract: Relationship banking (RB) philosophy has become a topic of increasing importance in strategic marketing management. RB concerns inter alia the applying of customer-driven strategies using advanced information technology. This study investigates RB in the Greek banking industry overall and also under different ownership status (privately owned vs. stated-controlled vs. foreign banks). Based on a wide field of research during the period 2005--2006, indeed, we find that banks in Greece apply the philosophy of RB; however, privately owned and foreign banks implement RB strategies more systematically and effectively in comparison with state-controlled banks. The usefulness of our results is twofold: they satisfactorily justify the considerable growth of the private banking sector in the Greek economy and significantly enrich the service-profit chain of this specific industry.

Date: 2007
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DOI: 10.1080/02642060902720014

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