On the Factors Influencing Banking Satisfaction and Loyalty: Evidence from Denmark

Yingkui Yang (), Jan Møller Jensen and René Heiberg Jørgensen
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Yingkui Yang: Department of Business and Sustainability, University of Southern Denmark, Degnevej 14, DK-6705 Esbjerg, Denmark
Jan Møller Jensen: Department of Business and Management, University of Southern Denmark, Campusvej 55, DK-5230 Odense M, Denmark
René Heiberg Jørgensen: Department of Business and Management, University of Southern Denmark, Campusvej 55, DK-5230 Odense M, Denmark

Businesses, 2025, vol. 5, issue 2, 1-16

Abstract: This article proposes and tests a conceptual model examining the antecedents of customer satisfaction and loyalty in the Danish banking sector. Given the changing landscape, the importance of personnel contact, the bank’s website, and the bank’s ethics and reputation are of particular interest. Data were collected through convenience sampling. A total of 1132 usable questionnaires were received. This study reveals that competent personnel, as well as bank ethics and reputation, are major factors influencing customer satisfaction and loyalty. Personal contact with staff is also crucial in shaping customers’ perceptions of the bank’s ethics and reputation. The results also demonstrate that switching barriers have a significant influence on customer satisfaction and loyalty. Finally, the multi-group analysis revealed no significant differences in terms of gender or generation. This study offers valuable insights for retail banks to enhance customer satisfaction and loyalty, demonstrating that competent personnel remains an important driver, even during the shift to digital banking.

Keywords: bank satisfaction and loyalty; bank ethics and reputation; competent personnel; SERVPERF; consumer switching; Danish retail banking sector (search for similar items in EconPapers)
JEL-codes: A1 D0 D4 D6 D7 D8 D9 E0 E2 E3 E4 E5 E6 E7 F0 F2 F3 F4 F5 F6 G0 G1 G2 H0 J0 K2 L0 L1 L2 M0 M1 M2 M3 M4 M5 N0 N1 N2 O0 O1 P0 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jbusin:v:5:y:2025:i:2:p:26-:d:1683106

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