ИСТИНА

This paper analyses customer loyalty determinants influence on retail bank clients’ loyalty in the current conditions of the Russian market. The increasing share of state banks, enhanced competition and activities of the Central Bank of Russia leading to bank license withdrawal and to sanation are the main features characterizing the contemporary Russian retail banking market. These developments push Russian commercial banks to look for new marketing strategies based on building customer loyalty in order to retain customers and to survive. Based on empirical results presented in relevant literature we identified key customer loyalty determinants, namely trust, satisfaction, quality, image, offer, switching barriers, and prices. The study presents data obtained by on-line questionnaires placed in popular Russian banking forums. Linear regression model and factor analysis based on respondents’ perception of their main bank are the main methods used to unveil the relationship between these determinants. Based on empirical analysis results, we developed recommendations on customer loyalty improvement for banks.