The Impact of the Corona Pandemic on the Marketing of Banking Services and its Reflection on the Result of Banks' Business

Abstract

Purpose: The aim of this study is to examine the impact of the Corona pandemic on the ability of banks to market their services and its reflection on the result of their activity. Theoretical framework: The research acquires its importance from the role and importance of marketing banking services and thus increasing their revenues, which is reflected in increasing their profits or reducing their losses, as well as the importance of shedding light on the impact of the Corona pandemic on this vital sector, through the weak ability of banks to market their services in the shadow of this pandemic. Design/methodology/approach: The researchers used the descriptive analytical approach through the analysis of the income statement of the banks of the research sample for a series of years. Findings: The results indicated that the pandemic had a substantial impact on banking services since there was a link between the pandemic's expansion and banks' capacity to sell their products. The epidemic also caused banks' levels of liquidity to fall, which had a negative effect on their capacity to extend credit and loans. Research, Practical & Social implications: The study suggests that banks adapt their working practices by moving to electronic transactions for the delivery of financial services. So, in times of crisis, banks need develop new strategies for marketing their financial services. In light of the Corona pandemic, it offers ideas for how the banking industry should develop its methods of marketing its services. Originality/value: The value of the study is important because banks should change their work methods by switching to electronic dealing in providing banking services. In order to face crises, banks should expand their investments in areas that are not significantly affected by crises.