The relationships between portuguese banks and their customers in a recessionary context

Abstract

Financial institutions were in the genesis of the crisis that led to the current recession. This study aims to understand better the relationship Portuguese people have with their banks in a recessionary context, as well as to provide knowledge that may contribute to the consumer behavior field of research linking to the Banking industry. Having that purpose in mind, a quantitative study was conducted using data gathered by questionnaire using a sample of 488 respondents, which was further complemented by the information collected applying Netnography. The overall analysis suggests that the impact of the crisis on the household financial situation throughout the last couple of years influences attitudes towards money and expenses. The way customers’ purchase and consumption behaviors were affected by crisis are, to some extent, positively related to their satisfaction with the main bank.