From Responsibility to Retention: Evaluating CSR’s Role in Customer Loyalty at VP Bank

Wissem Ajili Ben Youssef, Najla Bouebdallah and Nguyen Ha Thuong

Chapter 9 in Innovating Finance for a Sustainable Future:Integrating FinTech, Blockchain and Generative AI, 2026, pp 257-297 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This study examines the impact of Corporate Social Responsibility (CSR) initiatives on customer loyalty in the Vietnamese banking sector, using VP Bank as a case study. As competition intensifies in emerging financial markets, understanding the strategic role of CSR in enhancing customer retention becomes increasingly important. The research analyzes five CSR dimensions—economic, legal, ethical, philanthropic, and environmental—and their effects on customer loyalty. A quantitative, cross-sectional survey was conducted with 196 VP Bank customers using structured questionnaires and validated measurement scales. Data analysis was performed using SPSS 28.0, following a five-stage framework that included descriptive statistics, assessments of reliability and validity, correlation analysis, and multiple linear regression. The findings indicate that CSR has a significant impact on customer loyalty, with the model accounting for 74.7% of the variance in customer loyalty. Ethical responsibility was identified as the strongest predictor, followed by philanthropic, legal, environmental, and economic responsibilities. These results imply that Vietnamese banking customers prioritize moral integrity, community involvement, and adherence to regulations over financial performance.The study enhances CSR theory by situating it within Vietnam’s banking sector and highlighting cultural nuances in the perception of CSR. Practical implications suggest that banks incorporate ethical and philanthropic initiatives into their core strategies, acknowledging the growing importance of environmental responsibility. Despite limitations, such as a single institution focus and reliance on self-reported data, the research provides actionable insights for leveraging CSR as a strategic asset in managing customer relationships.

Keywords: Generative Artificial Intelligence; Technology–Organization–Environment (TOE); ESG Factors; Sustainability; Blockchain; Supply Chain Finance; Trade Finance; FinTech; Customer Loyalty; Mobile Banking; Perceived Risk; Trust; Personalization; Digital Banking Adoption; Customer Behavior; Digital Innovation; Retail Banking; CSR; Foreign Ownership; Digital Transformation; Bank Performance; Big Four; Auditing; Intention to Use; Risk Assessment; Risk Mitigation; CAMELS-Based Framework; Banking; Qualitative Approach; Quantitative Approach; Case Study; Vietnam Banking Sector (search for similar items in EconPapers)
JEL-codes: G21 G23 G28 O33 Q56 (search for similar items in EconPapers)
Date: 2026
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