THE INFLUENCE OF BANKING AND TOP MANAGEMENT SUPPORT ON CUSTOMER LOYALTY THROUGH GREEN SUSTAINABILITY AS MODERATING VARIABLE: A SYSTEMATIC LITERATUR REVIEW
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Published:
May 29, 2026
Keywords:
Green Banking Initiatives, Top Management Support, Customer Loyalty, Green Sustainability, Systematic Literature Review
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Abstract
The increasing global demand for sustainable business practices is driving banking institutions to rethink how they build and maintain relationships with customers. This study was designed to examine the extent to which Green Banking Initiatives and Top Management Support contribute to the formation of Customer Loyalty, by positioning Green Sustainability as a moderating variable. Using a Systematic Literature Review (SLR) approach, 35 reputable international journals published between 2019 and 2026 were systematically reviewed to understand how green banking strategies have evolved and how they shape customer behavior. Research findings indicate that Green Banking Initiatives—including green product development, digitalization of banking services, and transparency in environmental reporting—have been proven to strengthen customer trust and foster sustainable loyalty. Meanwhile, Top Management Support has been identified as a key determinant in driving organizational change: without concrete commitment from top leadership, green initiatives often remain mere policy statements that are not grounded in daily operational practices.
Green Sustainability, as a moderating variable, has been shown to play a significant role, either strengthening or weakening the link between green banking initiatives and customer loyalty, depending on how seriously an institution internalizes environmental commitments into its business governance. Based on these findings, this study encourages banking practitioners to integrate sustainability values comprehensively into product design and service approaches, while also proposing to regulators to immediately formulate uniform green banking metric standards to support more objective and measurable performance evaluations.
Keywords : Green Banking Initiatives, Top Management Support, Customer Loyalty, Green Sustainability, Systematic Literature Review.
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Maharani, N., Fassa, M., Purnamasari, F., ., H., & Mukri, M. (2026). THE INFLUENCE OF BANKING AND TOP MANAGEMENT SUPPORT ON CUSTOMER LOYALTY THROUGH GREEN SUSTAINABILITY AS MODERATING VARIABLE: A SYSTEMATIC LITERATUR REVIEW. GLORY Jurnal Ekonomi Dan Ilmu Sosial, 7(3), 875-886. https://doi.org/10.70581/glory.v7i3.28427
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Ozili, P. K. (2022). Green finance research around the world: A review of literature. International Journal of Green Economics Electronic, 1–31.
Pavithra, K. M., Hanumagowda, B. N., Raju, S. S. K., Varma, S. V. K., & Murshid, N. (2023). Thermal radiation and mass transfer analysis in an inclined channel flow of a clear viscous fluid and H2O/EG-based nanofluids through a porous medium. Sustainability.
Pitaloka, E., Purwanto, E., Suyoto, Y. T., Dwianika, A., & D. A. (2024). Bibliometrics analysis of green financing research. International Journal of Sustainable Development and Planning, 19(3), 853–865.
Puriwat, W., & Tripopsakul, S. (2023). Sustainability matters: Unravelling the power of ESG in fostering brand love and loyalty across generations and product involvements. Sustainability.
Rahman, A. (2021). Equity-based financing and MSME growth in Islamic banking. Journal of Islamic Monetary Economics and Finance, 7(2), 189–210.
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Rocha, V., Viegas, C., Guerreiro, M., Wendt Viola, T., & Kluwe-Schiavon, B. (2024). Green banking awareness and its association with green attitude, green trust, and green loyalty. Journal of Sustainable Finance & Investment, 15, 1–18. https://doi.org/10.1080/20430795.2024.2441207
Rombach, M., & Gan, D. L. D., and C. (2023). “Soy boy vs. holy cow”—Understanding the key factors determining U.S. consumers’ preferences and commitment to plant-based milk alternatives. Sustainability.
Saeedi, M., & Ashraf, B. N. (2024). The role of technology in promoting green finance: A systematic literature survey and the development of a framework. Journal of Risk and Financial Management.
Shahid Mahmood, Irfan Sabir, & S. M. (2025). Impact of digitalization and value co-creation on customer loyalty: The mediating role of emotional engagement in banking services. Journal of Applied Research and Multidisciplinary Studies (JARMS), 6(2).
Sultana, K. M. A. I. S. I. M. M. K. M. S. H. T. (2023). Relationship between e-service quality dimensions and online banking customer satisfaction. Banks and Bank Systems. https://doi.org/10.21511/bbs.18(1).2023.15
Tarabieh, S. M. Z. A. (2021). The impact of greenwash practices over green purchase intention: The mediating effects of green confusion, green perceived risk, and green trust. Management Science Letters, 11, 451–464. https://doi.org/10.5267/j.msl.2020.9.022
Wang, S., Fu, L., Qiu, Y., Xi, H., & Zhou, S. (2023). Macro-microscopic dynamic characteristics of the ballast bed induced by the variation of moisture content. Particuology, 90. https://doi.org/10.1016/j.partic.2023.11.024
Zheng, T., Zhang, H., & Ye, S. (2023). Monetary policies on green financial markets: Evidence from a multi-moment connectedness network. Sustainability.
Agrawal, N., Modgil, S., & Gupta, S. (2024). ESG and supply chain finance to manage risk among value chains. Journal of Cleaner Production, 471, 143373. https://doi.org/10.1016/j.jclepro.2024.143373
Ahnaf Chowdhury Niloy, J. S., Jawad bin Alam, A. G., & K. M. F. (2023). What triggers you to buy green products? Explaining through an extended TPB model. Asia-Pacific Journal of Management Research and Innovation. https://doi.org/10.1177/2319510X231171195
Arif Wahyudi, Fadli Agus Triansyah, & K. A. (2023). Green finance and sustainability: A systematic review. JURISMA: Jurnal Riset Bisnis dan Manajemen, 13(October), 133–144.
Dinar Nur Affini, Indra Siswanti, M. N., & D. P. (2026). Integrating environmental, social, and governance (ESG) practices into sustainable banking governance: The roles of capacity building, green competencies, financial technology, and green innovation in advancing sustainable finance. Sustainability, 1–21.
Fu, C., Lu, L., & Pirabi, M. (2023). Advancing green finance: A review of sustainable development. Digital Economy and Sustainable Development, 3, 1–19. https://doi.org/10.1007/s44265-023-00020-3
Gao, J., & Ding, N. (2026). Green finance and regional environmental governance: A perspective on industrial structure upgrading. Sustainability.
Huidong Sun, Mustafa Raza Rabbani, Naveed Ahmad, M. S. S., & Guping Cheng, M. Z.-U.-D., and Q. F. (2021). CSR, co-creation and green consumer loyalty: Are green banking initiatives important? A moderated mediation approach from an emerging economy. Sustainability.
Jae-Woong Jeong, Heon-Hwi Lee, & H. P. (2022). A study on the effect of knowledge services on organizational performances based on the concept of balanced scorecards for the sustainable growth of firms: Evidence from South Korea. Sustainability.
Jing Chen, Abu Bakkar Siddik, S. B., Masukujjaman, & G.-W. Z. M. (2022). The effect of green banking practices on banks’ environmental performance and green financing: An empirical study. Energies, 1–22.
Khan, A., Hanif, N., Iqbal, J., Ahmed, T., Hameed, W., & Ather Malik, A. (2023). Greening for greater good: Investigating the critical factors for customer satisfaction with sustainable e-banking. Environmental Science and Pollution Research, 31, 1–11. https://doi.org/10.1007/s11356-023-29090-8
Khan, M. F., & I. (2023). Corporate social responsibility and brand advocacy among consumers: The mediating role of brand trust. Sustainability.
Khanittha Talordphop, Y. A., & S. S. (2023). Design and analysis of extended exponentially weighted moving average signed-rank control charts for monitoring the process mean. Mathematics.
Kumar, P., & Mokha, A. K. (2021). Electronic customer relationship management (E-CRM) and customer loyalty: The mediating role of customer satisfaction in the banking industry. International Journal of E-Business Research, 18(1), 1–22. https://doi.org/10.4018/IJEBR.293292
Liu, W., & Zhu, P. (2024). The impact of green finance on the intensity and efficiency of carbon emissions: The moderating effect of the digital economy. Frontiers in Environmental Science, 1–18. https://doi.org/10.3389/fenvs.2024.1362932
Maama, H., & Appiah, K. O. (2019). Green accounting practices: Lesson from an emerging economy. Qualitative Research in Financial Markets, 11(4), 456–478. https://doi.org/10.1108/QRFM-02-2017-0013
Mehralian, G., Nazari, J. A., & Ghasemzadeh, P. (2018). The effects of knowledge creation process on organizational performance using the BSC approach: The mediating role of intellectual capital. Journal of Knowledge Management, 22(4), 802–823. https://doi.org/10.1108/JKM-10-2016-0457
Mehta, A. M., & Handriana, T. (2024). Analyzing CSR and customer engagement through green banking digitalization: With the mediating effect of perceived environmental value and moderation effect of customer’s eco-consciousness. Cogent Business & Management, 11(1). https://doi.org/10.1080/23311975.2024.2332502
Mir, A. A., & A. A. B. (2022). Green banking and sustainability – a review. Arab Gulf Journal of Scientific Research. https://doi.org/10.1108/AGJSR-04-2022-0017
Muammer, K. I. A. (2021). Sustainable financing for sustainable development: Understanding the interrelations between public investment and sovereign debt. Sustainability. https://doi.org/10.3390/su10113901
Mudalige, H. M. N. K. (2023). Emerging new themes in green finance: A systematic literature review. Future Business Journal, 9(1), 1–20. https://doi.org/10.1186/s43093-023-00287-0
Ozili, P. K. (2022). Green finance research around the world: A review of literature. International Journal of Green Economics Electronic, 1–31.
Pavithra, K. M., Hanumagowda, B. N., Raju, S. S. K., Varma, S. V. K., & Murshid, N. (2023). Thermal radiation and mass transfer analysis in an inclined channel flow of a clear viscous fluid and H2O/EG-based nanofluids through a porous medium. Sustainability.
Pitaloka, E., Purwanto, E., Suyoto, Y. T., Dwianika, A., & D. A. (2024). Bibliometrics analysis of green financing research. International Journal of Sustainable Development and Planning, 19(3), 853–865.
Puriwat, W., & Tripopsakul, S. (2023). Sustainability matters: Unravelling the power of ESG in fostering brand love and loyalty across generations and product involvements. Sustainability.
Rahman, A. (2021). Equity-based financing and MSME growth in Islamic banking. Journal of Islamic Monetary Economics and Finance, 7(2), 189–210.
Rasoulinezhad, E., & Taghizadeh-Hesary, F. (2022). Role of green finance in improving energy efficiency and renewable energy development. Energy Efficiency, 15(2), 14. https://doi.org/10.1007/s12053-022-10021-4
Rocha, V., Viegas, C., Guerreiro, M., Wendt Viola, T., & Kluwe-Schiavon, B. (2024). Green banking awareness and its association with green attitude, green trust, and green loyalty. Journal of Sustainable Finance & Investment, 15, 1–18. https://doi.org/10.1080/20430795.2024.2441207
Rombach, M., & Gan, D. L. D., and C. (2023). “Soy boy vs. holy cow”—Understanding the key factors determining U.S. consumers’ preferences and commitment to plant-based milk alternatives. Sustainability.
Saeedi, M., & Ashraf, B. N. (2024). The role of technology in promoting green finance: A systematic literature survey and the development of a framework. Journal of Risk and Financial Management.
Shahid Mahmood, Irfan Sabir, & S. M. (2025). Impact of digitalization and value co-creation on customer loyalty: The mediating role of emotional engagement in banking services. Journal of Applied Research and Multidisciplinary Studies (JARMS), 6(2).
Sultana, K. M. A. I. S. I. M. M. K. M. S. H. T. (2023). Relationship between e-service quality dimensions and online banking customer satisfaction. Banks and Bank Systems. https://doi.org/10.21511/bbs.18(1).2023.15
Tarabieh, S. M. Z. A. (2021). The impact of greenwash practices over green purchase intention: The mediating effects of green confusion, green perceived risk, and green trust. Management Science Letters, 11, 451–464. https://doi.org/10.5267/j.msl.2020.9.022
Wang, S., Fu, L., Qiu, Y., Xi, H., & Zhou, S. (2023). Macro-microscopic dynamic characteristics of the ballast bed induced by the variation of moisture content. Particuology, 90. https://doi.org/10.1016/j.partic.2023.11.024
Zheng, T., Zhang, H., & Ye, S. (2023). Monetary policies on green financial markets: Evidence from a multi-moment connectedness network. Sustainability.