Examining the relationship between green bank marketing and bank loyalty in the case of Slovak customers

Abstract

The relevance of the paper is justified by the growing importance of Corporate Social Responsibility (CSR) concept, green marketing, and the green brand image. Major players in the Slovak banking sector are increasingly aware of the role of the green brand image in creating and maintaining customer loyalty. The purpose of the research is to assess how the green marketing elements applied in everyday practice affect the loyalty of Slovak customers to financial institutions and their choice of banks, with a particular focus on the gender of the customers.In the exploratory research, 152 customers of Slovak commercial banks were surveyed using an online, self-administered questionnaire. Descriptive statistics and cross-tabulation analysis were used to analyze the data. For testing the relationships between variables, the Pearson chi-square test was used, and for determining differences between subgroups, the Mann-Whitney U test was used.Based on the results of the survey, the green marketing practices implemented by banks have a greater impact on the loyalty of female customers. Factors such as supporting local communities, talent development, voluntary activities, and environmental projects are elements that have a significant impact on women’s loyalty to financial institutions and their choice of bank.Examining the effectiveness of conveying the green message (primarily based on the type of medium and the gender of the customers), the study found no significant differences between customer groups. Although the research results cannot be considered representative due to the sample size, they still provide valuable information for the institutions of the Slovak banking sector. Understanding the extent to which banks’ clients value green marketing activities and how it affects their attitudes can help financial institutions in customer acquisition and maintain customer loyalty.