Service Quality and Customer Satisfaction of Co-Operative Banks in an Economic and Debt Crisis Period : The Critical Case of Pancretan Co-Operative Bank

We tested a modified SERVQUAL scale based on a survey of Pancretan Co-operative Bank's customers - in terms of a critical case study - in order to identify any differences in service quality satisfaction and its impact on the behavioural intentions of the bank's customers. Considering the BANKZOT model, our research intention was to: (1) identify the zone of tolerance (ZOT) of bank's services performance and customers' satisfaction level; (2) examine which of the service quality dimensions of the adapted SERVQUAL model contributed significantly to overall customer satisfaction and loyalty; and (3) examine if the ZOT of bank's services performance might successfully predict customer loyalty, market share and financial performance in an economic and debt crisis period. The data were collected by means of a structured questionnaire answered by 150 bank's customers from all over Crete. Based on the research results, we were leaded to the conclusion that the ZOT of Bank's services performance might successfully predict customer loyalty, contribute substantially to the increase of the market share, and increase bank's financial performance, in an economic and debt crisis period