STUDYING THE ROLE OF IMAGE FORMATION IN THE BANKING SECTOR

Abstract

This article reveals the importance of image formation in the banking sector. Recently, the competition in the banking industry has seen increased and creating a positive and trustworthy image has become vital to ensuring the long-term success of a credit institution. The work examines both the very concept of «organizational image» and an overview of the positioning of the largest banks in Russia. In addition, the article examines the influence of image formation on customer loyalty and their criteria when choosing a bank. Through a comprehensive review of existing literature, this study sheds light on the role of image in attracting and retaining customers in the highly dynamic banking sector. The results obtained provide banking institutions with valuable information for developing effective strategies for building an image, and as a result, strengthening their positions in the market.