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Assessment of the Banks’ Reputation in Romania - The Demand-Side Perspective

Author

Listed:
  • Claudia Gabriela Baicu

    (Institute for World Economy, Romanian Academy)

  • Iulia Monica Oehler-Sincai

    (Institute for World Economy, Romanian Academy)

  • Olimpia State

    (The Bucharest University of Economic Studies)

Abstract

Reputation is a crucial concern in any market and industry, but even more in the banking sector. Credibility and trust are indispensable factors, as commercial banks operate on the basis of funds attracted from public. The consequences of the global financial crisis triggered in 2007 have strongly affected reputation and trust in banks. Starting from these premises, the purpose of this paper is to investigate the Romanian banks’ reputation from the retail customers’ perspective. After an in-depth assessment of the reputational dimensions in the banking sector, the paper explores the reputation of the Romanian banking sector starting from the evidence of the National Authority for Consumer Protection and the local media content analysis. It also evaluates the social responsibly practices targeting financial education programs, as a tool to increase banks’ reputation. A distinct section is devoted to the examination of banks’ response to the COVID-19 pandemic. The conclusion of this research is that customers’ satisfaction is a key determinant of banks’ reputation in Romania.

Suggested Citation

  • Claudia Gabriela Baicu & Iulia Monica Oehler-Sincai & Olimpia State, 2021. "Assessment of the Banks’ Reputation in Romania - The Demand-Side Perspective," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 9(2), pages 97-105, December.
    • Handle: RePEc:ntu:ntugeo:vol9-iss2-97-105
    as

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    References listed on IDEAS

    as
    1. Luigi Guiso, 2010. "A Trust-driven Financial Crisis.Implications for the Future of Financial Markets," EIEF Working Papers Series 1006, Einaudi Institute for Economics and Finance (EIEF), revised Mar 2010.
    2. Simon Zaby & Michael Pohl, 2019. "The Management of Reputational Risks in Banks: Findings From Germany and Switzerland," SAGE Open, , vol. 9(3), pages 21582440198, July.
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    7. Claudia Gabriela BAICU & Iuliana Petronela GÂRDAN & Daniel Adrian GÂRDAN & Daniel Constantin JIROVEANU, 2020. "Responsible Banking Practices During The Covid-19 Pandemic: Findings From Romania," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(22), pages 146-157.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    reputation; banking sector; trust in banks; financial education; Romania;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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