MEASURING THE CUSTOMER LOYALTY DRIVERS OF BANK

SYARIAH INDONESIA IN CENTRAL JAVA AND DAERAH

ISTIMEWA YOGYAKARTA
Raisa Hanna Tamia
Nyata Nugraha *)
Sri Hardiningsih H S **)

Sharia Banking Study Program

Accounting Department Politeknik Negeri Semarang
Jl. Prof. H. Soedarto, S.H., Tembalang, Kota Semarang, Jawa Tengah 50275

ABSTRAK
Penelitian ini bertujuan untuk menganalisis signifikansi pengaruh kualitas layanan, nilai keuntungan,
kepercayaan, kepuasan, dan reputasi terhadap loyalitas nasabah pada Bank Syariah Indonesia di Jawa Tengah
dan Daerah Istimewa Yogyakarta, baik secara simultan maupun parsial.
Populasi dalam penelitian ini adalah nasabah Bank Syariah Indonesia di Jawa Tengah dan Daerah Istimewa
Yogyakarta. Teknik pengambilan sampel yang digunakan adalah purposive sampling dengan jumlah sampel 160
partisipan. Data yang digunakan dalam penelitian ini adalah data primer. Metode pengumpulan data dengan
menggunakan kuesioner. Model analisis data yang digunakan dalam penelitian ini adalah Model Analisis Regresi
Linier Berganda. Teknik analisis data menggunakan, Uji F, Uji Koefisien Determinasi (R 2) dan Uji Parsial (Uji-
t).
Hasil pembuktian hipotesis dan pembahasan menunjukkan bahwa kualitas layanan, nilai keuntungan,
kepercayaan, kepuasan, dan reputasi secara simultan berpengaruh signifikan terhadap loyalitas nasabah pada
Bank Syariah Indonesia di Jawa Tengah dan Daerah Istimewa Yogyakarta. Nilai keuntungan, kepercayaan, dan
reputasi secara parsial berpengaruh positif dan signifikan, sedangkan kualitas layanan dan reputasi secara
parsial berpengaruh negatif dan tidak signifikan terhadap loyalitas nasabah pada Bank Syariah Indonesia di
Jawa Tengah dan Daeerah Istimewa Yogyakarta.
Kata Kunci: Loyalitas Nasabah, Kualitas Layanan, Nilai Keuntungan, Kepercayaan, Kepuasan, dan Reputasi.

ABSTRACT
This research aims to analyse the significance of the effect of service quality, perceived value, trust, satisfaction,
and reputation on customer loyalty at Bank Syariah Indonesia in Central Java and Daerah Istimewa Yogyakarta,
both simultaneously and partially.
The population in this research were Bank Syariah Indonesia’s customers in Central Java and Daerah Istimewa
Yogyakarta. The sampling technique used is purposive sampling with a sample of 160 participants. The data used
in this research are primary data. Methods of data collection by using a questionnaire. The model analysis data
used in this research is the Multiple Linear Regression Analysis Model. The data analysis technique uses the F
Test, the Coefficient of Determination test (R2) and the Partial Test (t-Test).
The evidence and discussion show that service quality, perceived value, trust, satisfaction, and reputation
simultaneously have a significant effect on customer loyalty of Bank Syariah Indonesia in Central Java and Daerah
Istimewa Yogyakarta. Perceived value, trust, and reputation partially has a positive and significant effect,
meanwhile, service quality and reputation partially have a negative and insignificant effect on customer loyalty
of Bank Syariah Indonesia in Central Java and Daerah Istimewa Yogyakarta.
Keywords: Customer Loyalty, Service Quality, Perceived Value, Trust, Satisfaction, and Reputation.

*) Advisor I
**) Advisor II
INTRODUCTION
On February 1st, 2021, Joko Widodo President of
Republic Indonesia, inaugurated the establishment of
PT Bank Syariah Indonesia Tbk (BSI). BSI is a merger
of three state-owned sharia banks, namely PT Bank
BRI Syariah Tbk., PT Bank Syariah Mandiri, and PT
Bank BNI Syariah (Herudin, 2021). The purpose of this
merger is to make BSI an anchor in the halal industry
ecosystem and support the vision of Indonesia’s
position as one of the world's Islamic economic
centers.
In addition, with this merger, BSI's market share is
getting bigger. This is due to the unified market share
of each bank. According to Abra Talattov, Economist
of the Institute for Development of Economics and
Finance (Indef) explained that with the merger of these
three Sharia banks, all customers will become one new
entity and lead to a wider range of services to
customers (Shalihah, 2020). In the merger of these
three Sharia banks, each bank certainly has a different
system of services and products. The merging of bank
services and products from each bank will cause
customers to have to learn about new products and
services, and it is feared that it will make customers are
concerned about policy and service changes during the
migration process. Irmawati (2012) stated that the
merger could have an impact on the level of trust of
customers. Customers from each bank will assess
whether the merger will improve the services or vice
versa. Expectations about better services are the needs
of customers after the merger.
Ngatari, as the Director of PT BRI Syariah Tbk.,
appealed to customers not to worry about the process
of merging these three banks. He guarantees that the
funds and services and operations of Sharia banks will
continue to run as usual (Artanti, 2021). This statement
shows that many customers are worried about the
changes that will occur due to the bank merger. This
customer concern can lead to a decrease in customer
loyalty because the customer has the right to follow the
results of the merger or stop being a customer
(Laksmitasari and Khanan, 2015). In order to avoid the
termination of relationships with customers, banks
must be able to develop optimal strategies to maintain
good customer loyalty.
Previous researches showed that several factors could
be used as strategies to increase customer loyalty by
Sharia bank. There are; service quality, perceived
value, trust, satisfaction, and reputation. Khokhar, et
al., (2019) stated that service quality has a direct
relationship on customer loyalty. Different from the
result of Yee and Faziharudean (2010) and Kishada and
Wahab (2013) that service quality did not have a
positive influence on customer loyalty.
Moreover, Pratama (2017) and Tanisah and Maftuhah,
(2015) stated that perceived value has a positive and
significant effect on customer loyalty. Contradicted
with the research results conducted by Kishada and
Wahab (2013) and Yee and Faziharudean (2010)
described that perceived value do not has any relation
with customer loyalty. The result of Kishada and
Wahab (2013) stated that trust is directly associated
with customer loyalty a line with Yee and
Faziharudean (2010) and Tanisah and Maftuhah,
(2015) that trust has a positive influence on customer
loyalty. Kartika, et al., (2019) and Khokhar, et al.,
(2019) also found that trust is a significant factor of
customer loyalty. However, the result of Tabrani, et al.,
(2018) found that trust has no significant relationship
with customer loyalty. Based on Khokhar, et al., (2019)
satisfaction has a positive relationship with customer
loyalty. However this result is different from Kishada
and Wahab (2013) that customer satisfaction has no
relationship with customer loyalty. Yee and
Faziharudean (2010) found that reputation has a
positive influence on customer loyalty. Contradicts the
result Nursiana (2015) who found that there is no
significant relationship of reputation on customer
loyalty.
Based on research problem that has been described, the
objectives of this research are as follows:
1. To analyze the effect of service quality, perceived
value, trust, satisfaction, and reputation toward
customer loyalty in Bank Syariah Indonesia.
2. To analyze the effect of service quality toward
customer loyalty in Bank Syariah Indonesia.
3. To analyze the effect of perceived value toward
customer loyalty in Bank Syariah Indonesia.
4. To analyze the effect of trust toward customer
loyalty in Bank Syariah Indonesia.
5. To analyze the effect of Satisfaction toward
customer loyalty in Bank Syariah Indonesia.
6. To analyze the effect of reputation toward customer
loyalty in Bank Syariah Indonesia.
LITERATURE REVIEW
Sharia Banking
Sharia Bank is a bank that carries out activities based
on sharia principles. The characteristic of Sharia
banking operation is based on partnership and mutual
benefits principle provides an alternative banking
system with mutual benefits both for the public and the
bank. This system will give priorities to aspects related
to fairness in transaction and ethical investment by
underlining the values of togetherness and partnership
in production, and by avoiding any speculative activity
in financial transaction. By providing various products
and banking services supported by variative financial
scheme. Sharia banking will be a credible alternative
that can be benefited by all of Indonesian people
without exception (OJK).
(Antonio, 2001) described that the basic mechanism of
Sharia bank is to receive funds from customers and
channel money to other customers in need. He stated
that the difference in the provision of benefits received
both of customers and banks, which is conducted with
appropriate financing schemes in Islamic law that is
free from riba.
The Development of Sharia Banking in Indonesia
Bank Muamalat Indonesia (BMI) was the 1th sharia
bank in Indonesia. BMI was established on November
1st, 1991 and began operating on May 1st, 1992.
At the beginning of its operation, the existence of
Sharia banks had not yet received attention in the
structure of the national banking sector. At that time,
the legal basis for bank operations using the sharia
system was only accommodated in one of the
paragraphs concerning "banks with a profit sharing
system" in Law no. 7 of 1992; without details on the
basis of sharia law and the types of businesses that are
allowed.
In 1998, the government and the People's
Representative Council (DPR) made improvements to
Law no. 7/1992 became Law no. 10 of 1998, which
explicitly explains that there are two banking systems
in the country (dual banking system), namely the
conventional banking system and the Sharia banking
system. This opportunity was warmly welcomed by the
banking community, which was marked by the
establishment of several other Sharia banks, namely
Bank IFI, Bank Syariah Mandiri, Bank Niaga, Bank
BTN, Bank Mega, Bank BRI, Bank Bukopin, BPD
West Java and BPD Aceh etc.
February 1st, 2021 the Indonesian government
undertook a major transformation to merge the three
largest Sharia banks in Indonesia, namely Bank
Syariah Mandiri (BSM), BNI Syariah and BRI Syariah,
to establish the state-owned Sharia bank Bank Syariah
Indonesia (BSI). The objective of this merger is to
improve Sharia banking management system. So that it
will grow rapidly and will make a significant
contribution to the welfare of Indonesian people
society, and economy.
Customer Loyalty (Y)
Loyalty is defined as customer’s intention or tendency
to repurchase from the same firm (Edvardsson, et al,
2000). Customer loyalty also described as a deeply held
commitment to repurchase or re-patronize a preferred
product/service consistently in the future, thereby
causing repetitive same-brand or same brand-set
purchasing, despite situational influences and
marketing efforts having the potential to cause
switching behavior (Oliver, 1999).
There are three popular conceptualizations of loyalty
exist: loyalty as an attitude that leads to a relationship
with the brand; loyalty expressed mainly in terms of
revealed behavior; and buying moderated by the
individual’s characteristics, circumstances, and/or the
purchase situation (Blut, et al., 2007). Banks that are
operating privately tend to eliminate or reduce the
barriers that customers can go through and that in
return will build a strong relationship with customers
(Khokhar, et al., 2019).
Factors Affecting Customer Loyalty
Loyalty is a strong commitment from a customer to
repurchase a product or service in the future without
considering the marketing strategies and efforts that
might influence consumer behavior (Oliver, 1999).
This commitment is firmly held to buy or re-support a
product or service preferred service in the future
despite situational influences and marketing efforts
potentially lead to customer switching (Kotler and
Keller, 2009).
Engel, et al., (1995) stated that customer loyalty is a
repeat buying behavior, relatedness and involvement is
high in choice, and is characterized by external
information seeking and alternative evaluation.
Tunggal (2008) states that repeat purchases are a
favorable response to brands, manufacturers, service
providers, or other entities.
According to Gaffar (2007) there are five factors
influence customer loyalty. There are: Satisfaction;
Emotional Bond; Trust; Convenience; Experience with
the Company
Meanwhile, according to Aregawi (2018) there are four
determinants of customer loyalty, there are: Perceived
Quality of Service; Customer Satisfaction; Handling
Customer Complaints; Commitment.
Service Quality (X1)
Quality is a dynamic condition associated with
products, services, people, processes, and the
environment that meet or exceed expectations (Kotler
and Keller, 2012). Service quality based on the
explanation of Kotler & Keller (2012) starts from
customer needs and ends with a sense of satisfaction
regarding the positive perceptions obtained from the
service quality. Malik (2012) views service quality as
an assessment based on the service performance
received and the results of the comparison between the
performance received and the expectations held by the
customer.
Service quality is an important factor to increase
company profitability. Quality of service is considered
one of the few competitive ways to attract customers
and increase market share (Kishada and Wahab, 2013).
In general, it can be interpreted as something that meets
consumer expectations, which then becomes a means
of retaining consumers. Service quality is seen as the
extent to which a certain service fulfills the
expectations of the customers (Abd Ghani, et al.,
2017). Service quality normally determines the
impression that a customer will have towards a certain
product or service (Abd Ghani, et al., 2017).
Perceived Value (X2)
Perceived value is the customer's overall assessment of
the usefulness of a service based on the perception of
what should be received with what is provided (Edward
and Sahadev, 2011). Perceived value is the overall
customer assessment of the benefits of the product or
service, service quality, price, emotional and social
value of a product or service based on perceptions of
what the customer receives and provides (Bernarto,
2017). Customer positive perceptions of the value
received from service providers can motivate
customers to re-use the service from the same provider
(Kishada and Wahab, 2013).
Trust (X3)
Trust is the knowledge possessed by the customer and
all the conclusions that the customer makes about the
object, its attributes and benefits. Trust is cognitive
knowledge about an object, then attitude is a response
to the feelings or views we have about the object
(Mowen and Minor, 2002). In Sharia banking, trust is
defined as a moral obligation of every individual in the
performance of responsibilities (Tabrani, et al., 2018).
Trust built when service providers are interested in
satisfying customer needs, and providing products and
service that creates customer value. Trust also arises
when one party is confident in the reliability of the
service provider. Customer retention helps companies
to grow and increase their profitability (Kishada and
Wahab, 2013).
Satisfaction (X4)
Satisfaction is known as key for achievement of goals
in service environment, it evolves around meeting and
exceeding customer needs and demands (Hassan, et al.,
2008). Satisfaction is an important variable for
determining customers to keep using a bank. The
literature has highlighted a series of factors that can
lead to customer loyalty, customer satisfaction is an
important factor (Omoregie, et al., 2019). The other
hand, satisfaction is the extent to which the perceived
benefits of a product are in accordance with what the
customer expects.
Reputation is usually considered as an assessment of
something or someone, as an advantageous name or
position (Gul, 2014). Reputation is the belief of
stakeholders that is widely held that the corporation
will behave at its best for the sake of interest because
future corporate actions can predictably be profitable
stakeholders (Ali, 2011). Therefore, sharia banks are
required to have a good reputation to maintain their
stakeholders. Yuningsih (2003) stated that building a
reputation is the same as building an image, because
reputation relates to work performance that has been
achieved by a person or an organization. If the
reputation is well known and satisfies the other parties
concerned, the image of the institution or organization
will also be lifted ride. Reputation is one of the most
important elements in shaping an image of the
institution.
RESEARCH METHOD
This research used qualitative approach that intends to
collect and analyze data in the form of numbers which
are generally obtained through structured questions
that described numerically in terms of object, variable,
and value numerically (Sekaran and Bougie, 2016).
The populations in this research were Bank Syariah
Indonesia’s customers in Central Java and Daerah
Istimewa Yogyakarta.
The sampling method used in this research is purposive
sampling method. Purposive sampling used to confined
specific types of people who can provide the desired
information conform to some criteria set by the
researcher (Sekaran and Bougie, 2016). The criteria in
this research are active customers of Bank Syariah
Indonesia located in Central Java and Daerah Istimewa
Yogyakarta.
Determination of the minimum number of samples in
this research uses Hair, et al., (2010) formula. Where
the determination of the number of samples is
calculated
from the number of indicators multiplied by 5 to 10.
The number of indicators in this research are 28
questions, then the sample calculation is:
Sample = 5 x 28
= 140
Based on the calculation above, the minimum number
of this research samples are 140 samples.
Data collection in this research was carried out by
distributing questionnaires to Bank Syariah
Indonesia’s customers in Central Java and Daerah
Istimewa Yogyakarta. The total questions in the
questionnaire are 28 items, consisting of 5 question
items regarding customer loyalty, 6 question items
regarding service quality, 5 question items regarding
perceived value, 3 question items regarding trust, 5
question items regarding satisfaction, and 4 question
items regarding reputation.
The questionnaires were distributed online through
google form link and then shared through social media
such as Whatsapp and Instagram applications both
personally and groups. The time for distributing the
questionnaire was from May 11th to July 27th, 2021.
Based on the distribution of the questionnaire, 167
participants were obtained, and 160 participants were
eligible for analysis.
160 participants obtained from 150 participants from
Central Java province and 17 participants from Daerah
Istimewa Yogyakarta Province, both regions, cities and
districts.
Participant Profile
Participants in this research were customers of Bank
Syariah Indonesia, totaling 160 people and classified
into five sections based on gender, age, profession, the As seen in the Table, it is known that the number of
duration of being BSI customer, and based on participants based on profession is dominated by
participant's residence. students as many as 93 people (58.1 %). Furthermore,
private employees are 32 people (20 %), government
The participant profile based on gender can be seen in
employees are 15 people (9.4 %), other professions are
table below:
10 people (6.3 %), housewives are 5 people (3.1 %),
Participant Profile Based on Gender then self-employed are 4 people (2.5 %) and the last
one is retired only 1 person (0.6 %).
No Gender Frequency Percentage
The participant profile based on duration of being the
1 Female 113 70.6 % customer can be seen in Table below:
2 Male 47 29.4 % Participant Profile Based on Duration being a BSI
Total 160 100 % Customer
Source: Primary data processed, 2021. No Duration Frequency Percentage
Based on Table, it is known that 113 participants (70.6 1 <1 year 66 41.3 %
%) are female and 47 participants (29.04 %) are male
out of 160 participants in total. It shows that most of 2 1-5 years 80 50 %
the participants in this research are women.
3 6-10 years 13 8.1 %
The participant profile based on age can be seen in
table below: 4 >10 years 1 0.6 %

Participant Profile Based on Age Total 160 100 %

Source: Primary data processed, 2021.
No Age Frequency Percentage
The Table indicates that the number of participants
1 17 - 24 years 119 74.4 % who have been customers at BSI for 1-5 years is 80
people (50 %), then the number of participants who
2 25 - 34 years 18 11.3 % have been customers at BSI for <1 year is 66 people
3 35 - 49 years 13 8.1 % (41.3 %), participants who have been customers at BSI
for 6-10 years is 13 people (8.1 %), and the last one
4 50 - 64 years 10 6% who has been a customer at BSI for >10 years is only 1
Total 160 100 % (one) person (0.6 %).
Source: Primary data processed, 2021. The participant profile based on participant residence
The Table shows that the number of participants is can be seen in Table below:
dominated by 17-24 years old participants, as many as Participant Profile Based on Residence
119 people (74.4 %). While the number of participants
aged 25-34 years as many as 18 people (11.3 %), No Province Frequency Percentage
participants aged 35-49 years as many as 13 people (8.1 1 Daerah Istimewa 17 10.6 %
%), and participants aged 50-64 years as many as 10 Yogyakarta
people (6.3 %).
2 Jawa Tengah 143 89.4 %
The participant profile based on profession can be seen
in Table Total 160 100 %
Source: Primary data processed, 2021.
Participant Profile Based on Profession
The Table provides information about the participant's
No Profession Frequency Percent residence. Of the 160 participants, 143 (89.4 %) are
1 Government employees 15 9.4 % from Central Java Province, and the remaining 17 (10.6
%) are from the Daerah Istimewa Yogyakarta.
2 Housewife 5 3.1 %
Validity Test
3 Other 10 6.3 %
The validity test in this research was calculated based
4 Private employees 32 20 % on the variables of service quality, perceived value,
5 Retired 1 0.6 % trust, satisfaction, reputation, and customer loyalty.
Data were taken from 160 participants and then
6 Self-employed 4 2.5 % processed with SPSS 25. The validity calculation is
based on a comparison between rcount and rtable where
7 Student 93 58.1 %
for rtable, with a significance level (alpha) of 0.05, the
Total 167 100 % result is 0.1552. If rcount is greater than rtable, the question
Source: Primary data processed, 2021.
is considered valid, whereas if rcount is smaller than rtable,
2 Perceived 0.849 5 Reliable
then the question is considered invalid.
Value (X2)
The results of the validity test can be seen in Table
below: 3 Trust (X3) 0.832 3 Reliable
Variable Indicators rcount rtable Remark 4 Satisfaction 0.887 5 Reliable
Service X1.1 0.754 0.1552 Valid (X4)
Quality X1.2 0.776 0.1552 Valid
(X1) X1.3 0.800 0.1552 Valid 5 Reputation 0.856 4 Reliable
(X5)
X1.4 0.730 0.1552 Valid
X1.5 0.742 0.1552 Valid 6 Customer 0.805 5 Reliable
X1.6 0.755 0.1552 Valid Loyalty (Y)
Perceive X2.1 0.781 0.1552 Valid Source: Primary data processed, 2021.
d Value X2.2 0.812 0.1552 Valid From the results of the analysis, it can be seen that the
(X2) X2.3 0.811 0.1552 Valid value of Cronbach's Alpha on service quality is 0.853,
X2.4 0.772 0.1552 Valid perceived value is 0.849, trust is 0.832, satisfaction is
X2.5 0.762 0.1552 Valid 0.887, reputation is 0.856, and customer loyalty is
Trust X3.1 0.857 0.1552 Valid 0.805. All Cronbach's Alpha values are more than 0.70.
(X3) X3.2 0.896 0.1552 Valid It can be concluded that all items of the research
X3.3 0.842 0.1552 Valid instrument are reliable.
Satisfacti X4.1 0.830 0.1552 Valid
on (X4) The results of the normality test can be seen in Table
X4.2 0.833 0.1552 Valid
below:
X4.3 0.868 0.1552 Valid
X4.4 0.868 0.1552 Valid Normality Test
X4.5 0.748 0.1552 Valid
One-Sample Kolmogorov-Smirnov Test
Reputati X5.1 0.832 0.1552 Valid
on (X5) X5.2 0.852 0.1552 Valid Unstandardized Residual
X5.3 0.832 0.1552 Valid
N 160
X5.4 0.824 0.1552 Valid
Custome Y1.1 0.643 0.1552 Valid Normal Parametersa,b Mean 0.0000000
r Loyalty Y1.2 0.739 0.1552 Valid
Std. Deviation 1,48623667
(Y) Y1.3 0.786 0.1552 Valid
Y1.4 0.803 0.1552 Valid Most Extreme Absolute 0.062
Y1.5 0.745 0.1552 Valid Differences
Positive 0.062
Source: Primary data processed, 2021.
Based on the Table 4.6., it can be seen that all statement Negative -0.058
items regarding service quality, perceived value, trust, Test Statistic 0.062
satisfaction, reputation and customer loyalty have a
value of rcount > rtable 0.1552 so that all statement items Asymp. Sig. (2-tailed) 0.200c,d
are said to be valid. Source: Primary data proceed, 2021.

A reliability test is used to measure a questionnaire
which is an indicator of a variable. A questionnaire is
said to be reliable if the participants' answers to
questions are consistent. A construct or variable is said
to be reliable if the value of Cronbach's Alpha > 0.70
(Ghozali, 2018). The results of the reliability test can
be seen in the table below:
Based on the test results in Table, the results of the
One-Sample Kolmogorov-Smirnov Test resulted in an
asymptotic significance of 0.05 (0.200 > 0.05). It can
be concluded that the regression model has to meet the
assumptions of normality.
OUTPUT

Reliability Test Classical Assumption Test

No Variable Cronbach's N of Remark Multicollinearity Test

Alpha Based Item Model Collinearity Statistics
on
Standardize Tolerance VIF
d Items
Service Quality 0.437 2.288

1 Service 0.853 6 Perceived Value 0.404 2.473

Reliable
Quality (X1) Trust 0.385 2.600

Satisfaction 0.301 3.324
Reputation 0.421 2.374
a. Dependent Variable: Customer Loyalty
Source: Primary data proceed, 2021.
The results of the Variance Inflation Factor (VIF) using
SPSS 25 in the Table, the VIF value < 10 and the
tolerance value > 0.10, it can be concluded that there is
no multicollinearity between independent variables.
Heteroskedasticity Test
Source: Primary data proceed, 2021.
Figure 4.1. shows that in this research, there was no
heteroscedasticity. The reason is that the points on the
scatterplot spread randomly above and below the
number 0 on the Y-axis.
Data Analysis Model
Multiple Linear Regression Analysis
The results of the multiple linear regression analysis
can be seen in Table below:
Multiple Linear Regression Analysis
a. Dependent Variable: Customer Loyalty
Source: Primary data proceed, 2021.
Based on the Table, the constant coefficient value is
4.559, the service quality coefficient is -0.028,
perceived value is 0.340, trust is 0.425, satisfaction is
0.389, and reputation is -0.158. Then the regression
equation can be formulated as follows:
Customer Loyalty = 4.559 – 0.028 Service
Quality + 0.340 Perceived Value + 0.425
Trust + 0.389 Satisfaction – 0.158
Reputation + e
The interpretation of the regression model is as
follows:
1. Constanta = 4.559
The result shows that if the service quality, perceived
value, trust, satisfaction and reputation variables are
constant, customer loyalty value is 4.559.
2. Service Quality coefficient = -0.028
The result shows that every 1 (one) unit increase in
service quality will impact decreasing customer loyalty
by 0.028 with the assumption that the variables
perceived value, trust, satisfaction and reputation are
considered constant.
3. Perceived Value coefficient = 0.340
The result shows that every 1 (one) unit increase in
perceived value will impact increasing customer
loyalty by 0.340 with the assumption that the service
quality, trust, satisfaction, and reputation variables are
considered constant.
4. Trust coefficient = 0.425
The result shows that every 1 (one) unit increase in
trust will impact increasing customer loyalty by 0.425
with the assumption that the service quality, perceived
value, satisfaction, and reputation variables are
considered constant.
5. Satisfaction coefficient = 0.389
The result shows that each increase in satisfaction of 1
(one) unit will impact increasing customer loyalty by
0.389 with the assumption that the service quality,
perceived value, trust, and reputation variables are
considered constant.
6. Reputation coefficient = -0.158
The result shows that every increase in reputation of 1
(one) unit will impact decreasing customer loyalty by
0.158 with the assumption that the service quality,
perceived value, trust, and satisfaction variables are
considered constant.
The results of the F-test can be seen in Table below:
F Test
ANOVAa
Sum of Mean
Model Squares df Square F Sig.
1 Regression 758,685 5 151,737 66,533 ,000b
Residual 351,215 154 2,281
Total 1109,900 159
a. Dependent Variable: Customer Loyalty
b. Predictors: (Constant), Reputation, Service Quality,
Perceived Value, Satisfaction, Trust
Source: Primary data processed, 2021.
Fcount generated in the calculation is 66.533. Based on
table F with a significance level (α) = 5 %, it is known
that Ftable with df1 = k = 5 and df2 = n-k-1 = 160-5-1 =
154, then Ftable (df1) (df2) = 0.228.
Based on the calculation results obtained Fcount =
66.533 while Ftable 0.228, then Fcount > Ftable. It can be
concluded that service quality, perceived value, trust,
satisfaction, and reputation affect customer loyalty.
The coefficient of determination results can be seen in
Table below:
2 The results of data processing above indicate that the
Coefficient of Determination (Adjusted R )
Model Summaryb
Adjusted Std. Error of the
Model R R Square R Square Estimate
1 ,827a ,684 ,673 1,510
a. Predictors: (Constant), Reputation, Service Quality,
Perceived Value, Satisfaction, Trust
b. Dependent Variable: Customer Loyalty
Source: Primary data processed, 2021.
The coefficient of determination (R2) shown in Table
is 0.684 (68.4 %). This shows that the independent
ability variable in explaining the customer loyalty
variable is 68.4 %. While 31.6 % is influenced by other
variables that are not included in this model.
The results of the partial test (t-Test) can be seen in
Table below:
towards customer loyalty. In other words, the
hypothesis which states that service quality partially
has a positive and significant effect on customer loyalty
of Bank Syariah Indonesia in Central Java and Daerah
Istimewa Yogyakarta is rejected.
2. Perceived Value (X2)
value of tcount > ttable (5.923 > 1.9755) and the
significance is below 0.05, (0.001). This shows that
perceived value. In other words, the hypothesis which
states that trust partially has a positive and significant
effect on customer loyalty of Bank Syariah Indonesia
in Central Java and Daerah Istimewa Yogyakarta is
accepted.
3. Trust (X3)
The results of data processing above indicate that the
value of tcount > ttable (3.545 > 1.9755) and the
significance is below 0.05, (0.000). This shows that
trust has a positive and significant effect on customer
loyalty. In other words, the hypothesis which states that
perceived value partially has a positive and significant
effect on customer loyalty of Bank Syariah Indonesia
in Central Java and Daerah Istimewa Yogyakarta is
accepted.

Partial Test (t-Test) 4. Satisfaction (X4)

The results of data processing above indicate that the
Unstandardi Standard value of tcount > ttable (4.577 > 1.9755) and the
zed ized significance is below 0.05, (0.000). This shows that
Coefficients Coefficie satisfaction has a positive and significant effect
nts towards customer loyalty. In other words, the
hypothesis which states that satisfaction partially has a
Std.
positive and significant effect on customer loyalty of
Model B Error Beta t Sig.
Bank Syariah Indonesia in Central Java and Daerah
1 (Constant) 4,559 1,387 3,286 ,001 Istimewa Yogyakarta is accepted.
Service -,028 ,059 -,033 -,485 ,628 5. Reputation (X5)
Quality The results of data processing above indicate that the
value of tcount < ttable (-1.801 < 1.9755) and the
Perceived ,340 ,057 ,422 5,923 ,000 significance is more than 0.05, (0.074). This shows that
Value reputation has a negative and not significant effect
Trust ,425 ,120 ,259 3,545 ,001 towards customer loyalty. In other words, the
hypothesis which states that reputation partially has a
Satisfaction ,389 ,085 ,378 4,577 ,000 positive and significant effect on customer loyalty of
Reputation -,158 ,088 -,126 -1,801 ,074 Bank Syariah Indonesia in Central Java and Daerah
a. Dependent Variable: Customer Loyalty Istimewa Yogyakarta is rejected.
Source: Primary data processed, 2021.
DISCUSSION
The t-Test was carried out by comparing the tcount
values obtained in the Table 4.13., with a significance Discussion of First Hypothesis (H1)
rate of 0.05 and degrees of freedom (df) = n-k-1 = 160- Based on the F test, it is found that service quality,
5-1 = 154. With these provisions, a ttable of 1.9755 is perceived value, trust, satisfaction, and reputation
obtained. simultaneously have a significant effect on customer
Based on the table above, it is known that: loyalty of Bank Syariah Indonesia in Central Java and
Daerah Istimewa Yogyakarta. This shows that service
1. Service Quality (X1) quality, perceived value, trust, satisfaction, and
The results of data processing above indicate that the reputation is appropriate as a predictive tool for
value of tcount < ttable (-0.485 < 1.9755) and the managing customer loyalty.
significance is more than 0.05, (0.628). This shows that
service quality has a negative and not significant effect Based on the coefficient of determination (R2) carried
out using Adjusted R square. Based on the Model
Summary table, the resulting Adjusted R Square value
is 0.684 or 68.4 %. This shows that the variables of
service quality, perceived value, trust, satisfaction, and
reputation contribute to the influence of customer
loyalty by 68.4 %. While the remaining 31.6 % is
influenced by other variables that are not included in
the model.
Based on the F test and the coefficient of determination
test (R2), it can be seen that there is an alignment of
results. The results of R2 should strengthen the F test,
which means that if the F test is significant, then R2
tends to be high. As stated by (Ghozali, 2018) that if
the value of R2 is getting closer to one, it means that the
independent variables provide almost all the
information needed to predict the variation of the
dependent variable. Likewise, with this research, the F
test value is significant and the R2 value is 68.4 %,
meaning that the variables of service quality, perceived
value, trust, satisfaction, and reputation have a strong
influence on customer loyalty.
Discussion of Second Hypothesis (H2)
Based on t-Test results, the hypothesis which states that
service quality partially has a positive and significant
effect on customer loyalty of Bank Syariah Indonesia
in Central Java and Daerah Istimewa Yogyakarta is
rejected.
Initially, it was suspected that service quality had a
significant effect on customer loyalty. It is supported
by Khokhar, et al., (2019), which states that service
quality has a significant direct relationship with
customer loyalty.
However, on the contrary, the results of this research
do not show a significant influence of service quality
on customer loyalty. This explains that the service
quality applied to Bank Syariah Indonesia does not
positively affect customer loyalty because many
customers do not use service quality as a benchmark
for customers to be loyal to the bank. This supports Yee
and Faziharudean (2010) that to continue to be the
customer of a sharia bank and recommend the Sharia
bank to others, the customers do not rely on the quality
of bank services. Kishada and Wahab (2013) stated that
service quality does not positively influence customer
loyalty. Service quality is not a major factor to
differentiate competitive offerings.
Discussion of Third Hypothesis (H3)
Based on t-Test results, the hypothesis which states that
perceived value partially has a positive and significant
effect on customer loyalty of Bank Syariah Indonesia
in Central Java and Daerah Istimewa Yogyakarta is
accepted.
Based on the results of this research, it was concluded
that customers felt the value and benefits provided by
the bank. Customers feel that value is one of the
reasons for customers to be loyal to sharia banks. This
means that perceived value can be one factor in
determining the exact level of customer loyalty at Bank
Syariah Indonesia. This is supported Pratama (2017)
and Tanisah and Maftuhah, (2015) who stated that
perceived value has a positive and significant effect on
customer loyalty.
Discussion of Fourth Hypothesis (H4)
From the result of the t-Test, the hypothesis which
states that trust partially has a positive and significant
effect on customer loyalty of Bank Syariah Indonesia
in Central Java and Daerah Istimewa Yogyakarta is
accepted.
Lack of customer trust in sharia banks can lead to a lack
of loyalty (Kartika, et al., 2019). From this research, it
can be seen that customers trust sharia banks as their
bank of choice for conducting financial transactions.
Customers also believe that sharia banks strictly adhere
to Sharia principles in their operations.
The research results supports the statement of Kishada
and Wahab (2013) that trust is directly associated with
customer loyalty. Trust is the foundation for successful
and lasting relationships with customers. This is also in
line with Yee and Faziharudean (2010) that trust
positively influences customer loyalty. Kartika, et al.,
(2019) and Khokhar, et al., (2019) also found that trust
is a significant factor in customer loyalty.
In this case, it can be said that trust is one of the
determining factors for customer loyalty at Bank
Syariah Indonesia.
Discussion of Fifth Hypothesis (H5)
It can be seen from the t-Test results, the hypothesis
which states that satisfaction partially has a positive
and significant effect on customer loyalty of Bank
Syariah Indonesia in Central Java and Daerah Istimewa
Yogyakarta is accepted.
Based on the results of research with a positive and
significant direction of influence, it can be concluded
that satisfaction is one of the most important variables
that determine customer loyalty in a company,
especially in Sharia banks. Satisfaction has a very
important role in inculcating customer loyalty (Kishada
and Wahab, 2013). This result supports Khokhar, et al.,
(2019) stated that satisfaction positively correlates with
customer loyalty. With a tcount of 4,577, it proves that
customers are satisfied with the services provided by
sharia banks. Therefore, satisfaction in this research is
one of the determining factors for customer loyalty,
especially for Bank Syariah Indonesia’s customers.
Discussion of Sixth Hypothesis (H6)
Based on the results of the t-Test, it was found that the
hypothesis which states that reputation partially has a
positive and significant effect on customer loyalty of
Bank Syariah Indonesia in Central Java and Daerah
Istimewa Yogyakarta is rejected.
Initially, it was suspected that reputation had a
significant effect on customer loyalty. It is supported
by Yee and Faziharudean (2010), who found that
reputation has a positive influence on customer loyalty.
However, on the contrary, the results of this research
do not show a significant influence of reputation on
customer loyalty. Test results on the reputation variable
for customer loyalty that has no significant effect are
probably because most customers are not too
concerned with the status of a sharia bank. Currently,
all banks are tightly controlled by Bank Indonesia, the
Otoritas Jasa Keuangan, and the Deposit Insurance
Corporation, so that the reputation of banks is not much
different from one another.
This support Nursiana, (2015) who stated the reason
customers choose sharia banks is not based on the
bank’s reputation, but because of other factors.
Customers patronize a bank because they feel safe and
comfortable. Thus, reputation in this research cannot
be used by banks as a determinant of their customer
loyalty, especially for Bank Syariah Indonesia’s
customers.
CONCLUSION
Based on analysis and discussion in this research, it can
be concluded as follows:
1. Service quality, perceived value, trust, satisfaction,
and reputation simultaneously have a significant
effect on customer loyalty of Bank Syariah
Indonesia in Central Java and Daerah Istimewa
Yogyakarta.
2. Service quality partially has a negative and not
significant effect on customer loyalty of Bank
Syariah Indonesia in Central Java and Daerah
Istimewa Yogyakarta.
3. Perceived value partially has a positive and
significant effect on customer loyalty of Bank
Syariah Indonesia in Central Java and Daerah
Istimewa Yogyakarta.
4. Trust has a positive and significant effect on
customer loyalty of Bank Syariah Indonesia in
Central Java and Daerah Istimewa Yogyakarta.
5. Satisfaction partially has a positive and significant
effect on customer loyalty of Bank Syariah
Indonesia in Central Java and Daerah Istimewa
Yogyakarta.
6. Reputation partially has a negative and not
significant effect on customer loyalty of Bank
Syariah Indonesia in Central Java and Daerah
Istimewa Yogyakarta.
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