Developing Customer Loyalty: A Case-Study Of The National Bank Of Oman (pp. 105-121)
Authors: Rao, D. N. and Shankaraiah, K. (Sultan Qaboos University, Muscat) Hakmani, Ali Al (Ibri branch, Sultanate of Oman)
Abstract: The chapter examines the key factors of customer loyalty in the context of a large retail banking organization - National Bank of Oman (NBO). The scope of the chapter includes review of prescriptions available in the literature, an objective review of the management policies and programs relating to front-end and back-end operations, particularly with regard to corporate governance, technological interventions and human resource policies aimed at developing customer loyalty for sustainable competitive advantage. Further, the case-study approach probes into whether the practices of NBO reflect extant theories and also to identify gaps between both practice and theory. The findings suggest that the bank besides applying most of the prescriptions in the form of core and front-end loyalty factors, is practising back-end loyalty factore to enhance creditibility, transparency, reliability through good corporate governace in the present competitive environment. The banking industry could benefit from applying some of NBO practices after suitably adapting the same to take account of variations in their business contexts.