TOPIC:
Evaluat
ionofbank
cust
omer’srel
ati
onshi
pofprivat
e
andpubli
ccommer ci
albank.
I
ntr
oduct
ion:Cust
omerSat
isf
act
ioni
sameasur
eofhowpr
oduct
sandser
vicespr
ovi
de
byanyor ganizati
onmeett heexpect at
ionsofacust omer .I
tvar
iesfrom persontoperson
andser v
icetoser vi
ce.Acustomercanbedef i
nedasauserorpot enti
aluserofbanking
serv
ices.Acust omerwoul dincludeanaccounthol der,orapersoncarryi
ngoutcasual
busi
nesst ransacti
onswi t
habank.Theef fi
ciencyofabanki ngsectordependsuponhow
bestitcandel i
verservi
cestoi t
stargetcustomers.Inordertosurvivei
nt hi
scompet i
tiv
e
envi
ronmentandpr ovidecontinualcustomersati
sfacti
on, t
hebankingser v
icesprov
iders
arerequir
edt ofrequentl
yincreasethequalityofservi
ces.
Posi
ti
on:cust
omersat
isf
act
ionser
vicesi
spr
ovi
dedbypubl
i
candpr
ivat
esect
orbanks
butpri
vatesectorbanksar
emor epref
err
edbymaj or
it
yofthecustomerastheyemphasize
mor euponrelat
ionshi
pbui
ldi
ngwiththei
rcli
entsandarebetterequi
ppedwithmoder
n
i
nfrastr
uctur
eascompar edtopubl
icsectorbanks.That’
swhywepr efert
hepri
vat
esector
banks.
Technol
ogy
:Int
hebanki
ngsect
ori
tisnecessar
ytoi
ncr
easedadopt
ionoft
echnol
ogyt
o
bettermeetcustomerr equirement s,i
mproveeffi
cienci
es, r
educecost sandensure
customerdel i
ghtanditwast heprivat
esectorwhichest abl
ishedthetechnologi
cal
revolut
ion.Thepri
vatesect orbanksar eprovi
dingmor esatisfi
edATM ser v
icesthenpublic
sectorbanksandt hecustomerper cepti
onaboutPr oducti
vity
,Securi
tyandSensi t
ivi
ty,
Cost
Eff
iciency,Pr
oblem Handling, CompensationandCont actservicesr
elatedtoATM serviceis
verylessinpubli
csectorthanpr i
vatesectorbanks.
Qual
it
yofser
vice:Ser
vicequal
i
tyi
soneofmai
nel
ement
sofcust
omersat
isf
act
ionand
theirintenti
ontopurchase.Howev er,thecustomersofpublicandpr i
v atesectorbanks
diff
erenti nter
msoft hei
rpercepti
onofser v
icequali
ty.Pri
vateBankshav ebeenobservedto
behi gherondi mensionsofservi
cequal it
yeffect
ivenessandconv enientconsistency.
Privatebankcust omersaremor esat i
sfi
edwi tht
heser vi
cesthenpubl icbanks.Managersin
thebanki ngsectorundert
akesignificanteff
ortst
oconductcust omersat i
sfacti
onsurvey
s
andi tisappearsthatcustomersar esay i
ngthattheyexpectgoodpr oduct sandqualit
yto
theirbanksandt hatmayt heonlythingimpor t
anttothem.
Val
uat
ionofcust
omer
:Val
uat
ionofcust
omeri
nthepr
ivat
ebanksi
smuchhi
gher
thanthepubli
ccommer ci
albanks.Thecustomerofpubl i
cbanksrenotmuchsatisf
iedwith
thebehavi
orofempl oyeeandinfrast
ructur
e,whereasthecustomersr
emor esati
sfi
edwi t
h
atmosphereandinfr
astructur
eofpr i
vatebanks.Therigi
dpoli
cyofpubl
icbankscreates
moredissati
sfact
ionamongt hecust omerswhileforpri
vat
ebanksmostlyt
hev al
ueof
servi
ceisthekeyfactorofsati
sfacti
on.
Locat
ionandi
nfr
ast
ruct
ure:Goodsi
tesandsui
tabl
esi
teoft
hebr
anchar
eessent
ial
forbankbr anchesforsmoot hoperat
ionofbankingbusiness.Whent hepri
vatebankswer e
compar edwi t
hpublicbanks,all
thepriv
atebankshav eexcell
entlocati
onsfrom busi
ness
pointofv i
ewcompar edtopubl i
cbanksandf orprovi
dingbetterservi
cetocustomerspr oper
trai
ningshouldbegi ventothestaf
fbyt hebanksalsopublicsectorbanksshouldinvestand
concent r
atemor eonstaffdevel
opmentwher easpr i
vatesectorgivesmorepriori
tyon
i
nf r
astructur
alaspects.
Di
ver
sit
yofpackage:Chequedeposi
tsandchequecl
ear
ingar
emostcommon
serv i
cesusedbycust omers,thechargeslevi
edbyt hebankont heseser vi
cesar ehigherin
privatet heninnati
onali
zedbanks.Cr edi
tcardshav ebecomeapar tofli
fe.Inrecentyears
therewasal otofdemandhasbeenshownf orcreditcardsandt hereisalotofscopef or
creditcar dsbusinessinBangladesh.Thecreditcardholdersconsidereleven'veryimpor t
ant'
variableswhi ch"Sati
sfi
ed"them are:
JoiningFee, Annual f
ee,Minimum pay mentdue, Cash
withdrawal possi
bil
it
y,Avai
labil
i
tyofATMs, Lif
eI nsuranceCov er
, Cardreplacementf ee,Air
i
nsur ance, Baggagecov er
,lostcar
dliabi
li
ty-
afterlosi
ngt hecardandl ostcar dli
abil
i
ty-befor
e
l
osingt hecar d.
Concl
usi
ons:I
npar
ti
cul
ars,
cust
omeroft
hepubl
i
csect
orbanksi
ndi
cat
edhi
gh
sat
isfact
ionwithr
eli
abi
li
tyandassur
ance,whereascustomeroft
hepri
vatesect
orbank
i
ndicatedhighsat
isf
act
ionwit
hresponsi
veness,t
angi
bleandassur
ance.
Servicequalit
yi sasignifi
cantdeterminantofcust omersat isf
acti
on;itisthevital
fact
orthataffectscustomersat i
sfact
ion.Therefore,banksshoul dbeconsi st
entinproviding
highquali
tyser vi
ceinor dertoretai
nandi ncreasetheircustomerbase.I ncreaseinservice
quali
tywil
l i
mpr oveacust omersat isf
acti
onl evelandbankswi llbeabl etomai nt
ainastabl e
customerbase.
Sof rom theabov ediscussion, i
tisreveal
edt hatalthoughthepr i
vate
sectorbanksisnewcompar edt othepublicsectorbanki tiscompet ingsuccessful
lywith
thepubli
csect orbankandi sbuil
dingeffortstoofferbetterbankingser v
iceintunewi t
h
thechanginggl obalbusinessenv i
ronment .
