Purpose The purpose of this paper is to examine the factors that affect customers’ switching intentions among banks in the context of mergers and acquisitions, using particularly the case of the merger between Lloyds TSB and Halifax Bank of Scotland, which took place in 2009. Design/methodology/approach On the basis of the theory of planned behavior, a quantitative survey was developed and administered to 515 account holders from both banks in branches located in Spain. Structural equation modeling was then utilized to evaluate the significance of direct and indirect relationships between the various factors under study. Findings Empirical findings indicate a significant direct relationship between switching intentions and each of: behavioral beliefs, normative beliefs, attitudes, and subjective norms. Results also reveal an inverse significant relationship between switching intentions and both control beliefs and perceived behavioral control. Research limitations/implications The absence of a longitudinal study measuring the actual impact of the merger on customer switching behavior is the main limitation of this study. Moreover, despite being insightful, the results of this study should be generalized with caution since the sample was based on a list purposely chosen by the banks’ management. Originality/value This paper discusses customer switching behavior in the context of a real-life case of banks’ consolidation.
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