Corporate Social Responsibility Aligned with Sustainable Development Goals and Loyalty: The Mediating Role of Image and Satisfaction in Vietnamese Commercial Banks

Abstract

This study examines the impact of Corporate Social Responsibility (CSR) on customer loyalty in the context of Vietnamese commercial banks, with a particular focus on CSR initiatives aligned with the Sustainable Development Goals (SDGs). A key contribution of this research lies in its investigation of the mediating roles of bank image and customer satisfaction in the CSR–loyalty relationship. Data were collected from a survey of 427 customers across 11 retail banks in Vietnam, conducted between June and August 2023. The data were analyzed using Structural Equation Modeling (SEM) and Confirmatory Factor Analysis (CFA). Findings reveal that CSR positively influences both bank image and customer satisfaction but does not have a direct effect on customer loyalty. Instead, bank image and customer satisfaction act as mediators, with customer satisfaction playing a more significant role in translating CSR into customer loyalty. The study contributes to the theoretical understanding of CSR's role in customer behavior and offers practical implications for banks seeking to enhance loyalty through strategic CSR engagement.