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  • I wanted to have more information of your this report. can you send me on pratik.it007gmail.com as I am doing my internship at ING Vysya bank in FOREX and Trade
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  • nice ppt...i would like to get some more details from you for my project..can i get u in gmail..my id is sebin08@gmail.coom
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  • MOST OF THE PEOPLE- IMPORTERS EXPORTERS OR CONTRACTORS HAVE CHOSEN ICIICI BANK COZ IT WAS THE FIRST PRIVATE BANKING PLAYER IN THE STATE.

Ppt ing vysya bank Ppt ing vysya bank Presentation Transcript

  • ANALYZING CUSTOMER EXPECTATIONS IN TRADE FINANCE PRODUCTS WITH RESPECT TO ING VYSYA BANK Prepared by: Payal Soneja Summer InternING VYSYA BANK Amity School of Economics
  • ING VYSYA BANK• Founded in 1930, Vysya Bank was formally incorporated in the city of Bangalore, Karnataka.• ING Vysya Bank Ltd. (International Netherlands Group), is an entity formed with the coming together of erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector and a global financial powerhouse, ING of Dutch origin, during Oct 2002.• Shailendra Bhandari (CEO & MD) of INF Vysya bank and Arun Thiagarajan is the chairman of the board• Indias Premier Private Sector Bank.• Revenue: ₹16.6B ($320M) ING VYSYA BANK
  • INTRODUCTIONOBJECTIVESThe objectives of my report are:Broad Objective of the report is:• To know about the customers’ expectation and satisfaction in trade finance products of ING VYSYA BankSpecific Objectives of the report are: (i) The research will identify the problems faced by customers with the variousproducts in trade finance.(ii) To compare the trade finance products and services offered by ING VysyaBank with other private banks (ICICI & HDFC and Axis Bank)(iii) To thoroughly study the products & services of ING Vysya Bank.(iv) To make recommendations for improving the quality of different servicesprovided to the customers by the Bank. ING VYSYA BANK
  • SCOPEThe study will be able to reveal the preferences, needs, expectation of thecustomers regarding the banking services, It also help banks to know whether theexisting products or services they are offering are really satisfying the customers’needs. The main purpose of the research is to understand the customer’ssatisfaction level of the customers of different products and services offered byING Vysya Bank and its customers’ problems and the steps taken to improvetheir facilities.LIMITATIONS• It was difficult to interview respondents as they were busy in their schedule, and collection of data was very difficult. Therefore, the study had to be carried out based on the availability of respondents.• Accuracy: It is difficult to know if all the respondents gave accurate information; some respondents tend to give misleading information. ING VYSYA BANK
  • LITERATURE REVIEWCustomer satisfaction, a business term, is a measure of how products and servicessupplied by a company meet or surpass customer expectation. It is seen as akey performance indicator within business and is part of the four perspectives of aBalanced Scorecard. In a competitive marketplace where businesses compete forcustomers, customer satisfaction is seen as a key differentiator and increasingly hasbecome a key element of business strategy. What is customer satisfaction and why to measure it Accounts and services offered by ING Vysya bank Trade finance products offered by ING Vysya bank:Buyer’s creditLetter of creditBank guaranteesRemittance services Overview of ING Vysya bank. ING VYSYA BANK
  • RESEARCH METHODOLOGYAll the conclusions are based on the survey done in the working within the timelimit. I have tried to select the sample representative of the whole group during mytraining.RESEARCH DESIGNNo research paper is complete without data collection and data analysis vital andpertaining to the topic of the paper. In my research report, I have decided to use:Firstly Exploratory Research, to determine the approximate area where theproblem lies according to the information needs of the bank and DescriptiveResearch to discover answers to the questions who, what, when, where, and,sometimes, how. My attempts to describe or define a subject, often by creating aprofile of a group of problems, people. ING VYSYA BANK
  • SOURCES OF DATA COLLECTION • Primary DataI have chosen a Primary method of Data Collection which would suit thistype of Research Design. I have gathered the primary data through personalinterviews, questionnaires which I got filled by the customers of INGVysya bank and as well as the customers from other banks. • Secondary DataI have collected the secondary data from internal sources, such as officialrecords of the bank, annual reports and bank’s website. ING VYSYA BANK
  • SURVEY METHODFor conducting my research total sample size was 50 and my target population wasexporters, importers and contractors and a questionnaire was produced before thethem and their responses were recorded. I took the use of descriptive statistics toanalyze the data. For customer interview I used Convenience sampling methodwhich is a non-probability sample. Under this I had the freedom to choosewhomever they find, thus the name convenience.DATA ANALYSIS TECHNIQUESTo analyze the Data Analysis and for the better presentation and right explanation Ihave used Preliminary method of statistical data analysis which includes statisticalmethods such as Pie Charts, Histograms, Bar diagrams, which shows how manycustomers are satisfied from the bank‘s trade finance products. ING VYSYA BANK
  • DATA ANALYSIS AND INTERPRETATIONThe following information contains the data interpretation of the questionnaires.The respondents’ responses for the questions have been interpreted and a findinghas been made based on the respondents responses. ING VYSYA BANK
  • DEMOGRAPHIC ANALYSIS GENDER 16% MALE FEMALE 84%From the above chart, it can be seen that of the 50 respondents84% of them were male and 16% were female ING VYSYA BANK
  • AGE GROUP 50% 48% 40% 30% 32% BETWEEN 20-30 20% 10% BETWEEN 30-40 10% 0% 10% BETWEEN 40-50 BETWEEN MORE THAN 50 20-30 BETWEEN 30-40 BETWEEN 40-50 MORE THAN 50From the above graph, 48% respondents belonged to the age category of 30yrs-40yrs, 32% respondents belonged to the category of 40yrs-50 years, 10% of therespondents belonged to the category of more than 50 years, and between 20yrs-30yrs. ING VYSYA BANK
  • OCCUPATION 8% 20% 72% SALARIED SELF EMPLYED MANAGERIAL From the above pie chart, 72% of the respondents were salaried , 20% of the respondents were self employed, and 8% of the respondents were managerial.ING VYSYA BANK
  • EDUCTIONAL QUALIFICATION 52% 60% 50% 40% 26% 30% 16% 20% 6% 10% 0% GRADUATE POST GRADUATE PROFESSIONAL M.PHIL/PHD. COURSEFrom the above graph, 26% of respondents are belonged to the category ofGraduate, 52% of respondents are belonged to the category of Post graduate, 16% ofrespondents are belonged to the category of professional course, and 6% belonged to thecategory of M.Phil./PHD ING VYSYA BANK
  • PERCEPTION OF CUSTOMERS ABOUT ING VYSYA BANK 10% Private 18.00% Public Private and public 60% Dont know 12.00%From the above analysis, perception of 60% of the respondents is that ING Vysyabank is a private bank, while 12% of the respondents think that it is a publicbank, 18% of them think, the bank is both a private and public bank and 10% of therespondents have no surety about the perception of the bank.ING VYSYA BANK
  • THE TYPE OF INDUSTRY THE CUSTOMERS DEAL IN 4% ELECTRICALS AND 12% 18% ELECTRONIC APPLIANCES APPAREL INDUSTRY 8% CONSTRUCTION MOBILE PHONES AND ACCESSORIES PHARMACEUTICAL 30% 22% GEMS AND JEWELLERY HANDICRAFTS 6%From the above chart, 30% of the respondents deal in apparel industry, 22%of the 50 respondents deal in mobile phones and accessories, 18% deal inelectronics and electric appliances, 12% deal in gems and jewellery and atotal 18% deal in(handicrafts, pharmaceutical and construction industry).ING VYSYA BANK
  • 12% 2% 16% 44% 26% EXPORT IMPORT EXPORT/IMPORT CONTRACTORS TRADINGFrom the above chart, it can be inferred that 44% of the respondents deal inexport business, 26% deal in import business, 12% of the respondents deal inconstruction business and 2% deal in trading business.ING VYSYA BANK
  • CUSTOMERS HAVE ACCOUNTS WITH WHICH BANK 50% 46 45% 40% 34 35% 30% 25% 20% 15% 16 10% 5% 0% 4 ICICI Bank ING Vysya Bank HDFC Bank AXIS BankAs per the data collected and analyzed, ICICI Bank hold the accounts of 46% of therespondents. Next rank comes to ING Vysya Bank with 34% of accounts. HDFCBank has captured 16% (speculative) of the accounts and AXIS Bank with 4%. ING VYSYA BANK
  • REMITTANCE SERVICES 10% CASH CREDIT/PACKING CREDIT 8% BUYERS CREDIT 14% BANK GUARANTEE 24% LETTER OF CREDIT 44% 0% 10% 20% 30% 40% 50%ING VYSYA BANK
  • 60.00% 50.00% 40.00% 30.00% REMITTANCE… CASH CREDIT 20.00% BUYERS CREDIT 10.00% BANK GUARANTEE LETTER OF CREDIT 0.00% ING VYSYA ICICI BANK HDFC AXIS BANK BANK BANKFrom the above analysis, maximum number of respondents (57% of them approx.) ofING Vysya bank used buyer’s credit as their trade finance product. 41.67% of therespondents of ICICI bank used letter of credit, 25% of the HDFC bank respondentsused both letter of credit as well as cash credit, and 25% of the AXIS bank respondentsused cash credit as their trade finance products.ING VYSYA BANK
  • RATINGS GIVEN BY CUSTOMERS FOR THEIR PRODUCTS 4% 10.00% 14% 20.00% 52% EXCELLENT VERY GOOD GOOD AVERAGE POORFrom this chart, it could be inferred that 42% of the consumers have rated servicesand products offered by their respective banks as ‘good’, 22.5% of them have ratedthem as ‘very good’, and 15% of them have rated as excellent and average’ whileonly 5% have rated as ‘poor’.ING VYSYA BANK
  • PARAMETER CUSTOMERS 14% Performance 16%Performance 21 42% Customer satisfactionCustomer 14satisfaction speedy processSpeedy process 8 Easy to deal 28%Easy to deal 7Of the above parameters, Performance received a maximum rating of 42%, forcustomer satisfaction; 28%and 16% for speedy process, and also 14% for easy todeal.ING VYSYA BANK
  • HOW SATISIFED CUSTOMERS ARE WITH PRDOUCTS OFFERED BY ING VYSYA BANK Highly Satisfied Neither satisfied Dissatisfied Highly satisfied nor dissatisfied dissatisfied 14 22 10 3 1 28% 44% 20% 6% 2%ING customers 4 8 4 1 0 17 The above table is a continuous rating scale (Non comparative scaling technique) ING VYSYA BANK
  • 44% 45% 40% 35% 28% 30% 20% 25% 20% 15% 6% 10% 2% 5% 0% Highly satisfied Satisfied Neither satisfied Dissatisfied Highly nor dissatisfied dissatisfiedAccording to chart, 44% of the total respondents are satisfied with the products withtheir respective banks, while 28% are highly satisfied from their current bank; only4% are dissatisfied while 2% people are highly dissatisfied. Whereas of therespondents 20% are such who are neither satisfied nor dissatisfied from the productsand services provided by their current bank. ING VYSYA BANK
  • HOW SATISIFED CUSTOMERS ARE WITH PRDOUCTS OFFERED BY ING VYSYA BANK 47.05% 50.00% 45.00% 40.00% 35.00% 30.00% 23.53% 23.53% 25.00% 20.00% 5.89% 15.00% 0 10.00% 5.00% 0.00% Highly satisfied Satisfied Neither Dissatisfied Highly satisfied nor dissatisfied dissatisfied17 ING customers were interviewed by me during the analysis.Out of which, 47.05% (8 customers) of the respondents of ING bank were satisfiedby the products and services offered by the bank, 23.53% (4 customers) werehighly satisfied and some of them were neutral and 5.89%(1 customer) weredissatisfied. The customers were having problems regarding the documentation andthe bank was not able to provide funds in given span of time.ING VYSYA BANK
  • TYPE OF COLLATERAL TO OPERATE WITH THE BANK 8% 18% 42% 10% 22% Saving account Current account Land/Property Fixed deposit OthersAbove pie chart shows that 42% respondents have Saving A/Cs, and 22% haveCurrent A/Cs and rest of the respondents have 36% share of other A/Cs in total(which includes fixed deposits, land/property, and other products)ING VYSYA BANK
  • 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% STRONGLY AGREE NEUTRAL DISAGREE STRONGLY AGREE DISAGREEThe customers are satisfied with the banks sincerity in solving their personal or anyother problem. Most of the respondents agree with the above statement and none of thecustomers are dissatisfied by the bank’s ability to solve their problems. So, on thispoint of bank’s sincerity in problem solving the customers are seemed to be satisfied ING VYSYA BANK
  • PROBLEMS FACED BY CUSTOMERS (IMPORTERS) OF ING VYSYA BANK PRICE BECOMING LOW DUE TO EXCHANGE RATE 23% FLUCTUATIONS TOO MUCH DOCUMENTATION REQUIRED 15% THE SHIPMENT SCHEDULE CANNOT BE MET 8% BANK NOT ABLE TO ARRANGE FUNDS 31% RATE ISSUES 23% 0% 5% 10% 15% 20% 25% 30% 35%From the above graph, it can be inferred that most of the importers i.e. 31% of them havetheir issue of bank not able to arrange funds in given span of time, 23% of them have theirissues regarding rate issues and exchange rate fluctuations, 15% of the importers have theirproblems regarding documentation and 8% of them have their issues regarding the shipmentschedule not being met. ING VYSYA BANK