Abstract: In order to compare the loyalty intention drivers between state-owned commercial banks and joint-stock commercial banks, this paper includes the bank type as a moderating variable in the model. The Logit moderated regression results show that customer loyalty intentions vary between state-owned commercial banks and joint-stock commercial banks as customers perceive that the two banks provide with different value equity and different relationship equity. Brand equity, however, is not statistically significant. When all other variables are controlled, state-owned commercial banks have higher perceived value equity than joint-stock commercial banks, but joint-stock commercial banks have a better customer relationship than state-owned commercial banks. The results empirically prove that state-owned commercial banks and joint-stock commercial banks display different customer retention styles. Moreover, the paper also serves as a theoretical support for banks to optimize their marketing investment in future.

Key words: customer loyalty intentions, state-owned commercial banks, joint-stock commercial banks, value equity, brand equity, relationship equity