Impact of corporate social responsibility performed by Turkish banks related to COVID-19 on customer satisfaction and loyalty

Abstract

The study aims to evaluate the support provided by banks in the COVID-19 era and to investigate the effect on consumer preferences. In this direction, the effects of CSR variables (economic, legal, ethical, philanthropic) and corporate interactions (corporate image, CSR trust, corporate evaluation) on consumer preferences (customer satisfaction, customer loyalty) were investigated. The study collected data from bank customers who showed corporate social responsibility practices; in total, 346 data were collected in Turkey. Confirmatory factor analysis and path analysis were performed in the Amos 22.0 program. The results of this study demonstrated that the impact of CSR variables on corporate image, trust and evaluation had been proven. While economic and ethical responsibilities positively affect the corporate image, legal and philanthropic responsibilities increase consumers’ trust. In addition, legal responsibilities positively affect consumers' evaluation of the banks. The results also confirm that corporate image, trust and evaluation affect customer satisfaction and loyalty. With this study, it will be possible to improve the behaviour of banks in this direction in times of crisis by revealing the preferences of bank customers for corporate social responsibility components.