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Communication Shifts in Croatian Banking Industry: Comparison of the Early-Crisis Year 2009 and Full Crisis-Hit Year 2012

The financial industry has changed fundamentally following the Global Financial Crisis of 2008 that is considered by the renown economists and professors Roubini, Rogoff and Behravesh to have been “the worst financial crisis since the Great Depression of the 1930s” (2009, as cited in Reuters, 2009, para 2)1 . The paper focuses on the shifts in communication of three commercial banks in Croatia comparing their communication activities and the media coverage in what is seen as the first crisis year of 2009 and the crisis hit year of 2012. The authors analyze banks’ public relations and integrated marketing communication activities through media coverage and reporting in two Croatian newspapers and argue that a communication shift occurred in the banking industry. The primary focus in 2009 being on product and service communication, that was still very present in 2012, but in which there were substantially more reputation management oriented communication activities, especially by top management that took upon itself a more active communication role.

reputation management, communication, banking, crisis communication, advertising, brand

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