Trust of Portuguese Customers in Banks During the Economic Crisis Period

Abstract

The analysis of bank customer behavior has been considered of great interest by international banking in the past few years and has gained greater relevance during the economic and social crisis that started between 2007 and 2008. Portuguese retail bank customers behavior and their trust are analyzed by the comparison of data obtained prior to the economic crisis with data obtained a few years after the crisis period, using survey results with statistical relevance. It is demonstrated that the element currently more relevant to customer satisfaction and loyalty towards their main bank in Portugal is trust. We also conclude that Portuguese customers trust in banks evolution over the last few years is not as negative as we could expect, considering all the problems that have been affecting this sector, but something new is happening because today customers satisfaction is decreasing.