Abstract:

The economic and financial crisis has been present in the business environment since 2007. A number of industries have been affected by its consequences, by taking a series of measures or by developing a series of strategies. The banking industry, as part of the business environment, has experienced this instability from the start. This instability has been felt at national and international level. Customer loyalty has declined, satisfaction is no longer at an acceptable level, and customer retention has fallen. Under these circumstances, it is important to assess what the effects of the economic crisis are, in order for these to be mitigated. Taking into account the existing conditions in Romania, it can be noticed that the banking system has been affected by the economic crisis, and managers have implemented strategic plans to reduce its impact. This paper aims to identify solutions for increasing the competitiveness of the banking system in Romania.