BY
Menke-Ere Michelle Asiegbu
Abstract
In today’s banking world, reputation is key. Mishandling crises can destroy trust and cause financial loss. Banks risk millions in losses and up to 25% customer attrition during such events. Thus, effective crisis communication and reputation recovery are essential. This study compares how GTBank and Fidelity Bank in Nigeria managed reputation and communication in crises. GTBank faced criticism in May 2025 over alleged involvement in the arrest of a social media personality, harming its image. Conversely, Fidelity Bank has focused on proactive brand-building, earning awards, and fostering community relations. Using a qualitative comparative case study, this work examines timelines, messaging, openness, and stakeholder relations. Data comes from press releases, media, and brand values. The analysis relies on Situational Crisis Communication Theory and brand equity principles. Results show GTBank’s fact-driven, legal approach provided limited relief as it lacked emotional connection, while Fidelity’s established reputation aided its crisis management. Findings suggest that a mix of communication, proactive brand strategies, and stakeholder engagement best protects reputation over time.
Keywords: Crisis Communication, Reputation Management, GTBank, Fidelity Bank, Nigerian Banking Sector, Brand Equity, Stakeholder Engagement
