1. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 1 -
1.0 Introduction:
1.1 Origin of the Report
As a student of Bachelor of Business Administration (BBA) in Finance, every
student has to conduct a practical orientation in any organization for fulfilling the
requirements of the 3 months Internship program. The main purpose of the
program is to expose the students to the real world situation .This report is done as
a partial requirement of the Internship program for the BBA students.
1.2 Rationale of the study
In order to fulfill the requirement of the Internship program I chose Prime Bank
Ltd. The Human Resource Division (HRD) of Prime Bank Ltd placed me to its
Panthapath Branch .The HRD of Prime Bank Limited also assigned me a topic of
the report to be submitted .The topic of my report is “Evaluation of Customer
Service of Prime Bank Limited”. I have done my internship at Prime Bank
Limited, Panthapath Branch for the period of May 2009 to July 2009. I have partly
worked in few departments of the branch but mainly focused in the general
banking department. It has given me a chance to directly communicate and
provide professional service to the bank clients. During this period I tried to get
familiarize myself with the theoretical concept and practical process of customer
service in Prime Bank Limited.
1.3 Objective and scope of the study:
2. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 2 -
The primary objective of this report is to use the theoretical concepts, gained in the
classroom situations, in analyzing real life scenarios. This is also a partial
requirement of the BBA program. This objective is basically met by remaining
attached with a reputed organization and by gaining some real life experiences, so
that it adds value to my knowledge base, as a BBA graduate. In case of this report,
the objectives are:
To observe and understand the activities of the General Banking operations
of the host organization: Prime Bank Limited (PBL)
To identify the customers demand of PBL.
To identify the customers perception or attitude towards the customer
services of the prime Bank Limited.
To identify the quality of services compared to other Banks.
Provide suggestions to ensure better customer service.
Prime Bank limited is one of the successful private banks in our
country. I arranged the report into two main parts. In the first part of the report I
focused upon the organizational structure and the financial services offered by
PBL. The report also concentrates upon the actual lending activities of the
company, its exposure to the various sectors and its performance.
The second part of the report basically focuses on the Study of
Customer services quality in Prime Bank Limited, Panthapath Branch on the basis
of a Questionnaire and which was adorned on the basis of some parameters.
Finally I analyzed the findings from the questionnaire and came to a conclusion
with some of my recommendations.
1.4 Methodology:
3. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 3 -
I have collected primary and secondary data for my research paper as mentioned
below:
1.4.1 Primary Sources:
I have collected primary data by interviewing employees and clients of the Prime
Bank Limited .I made a questionnaire for the customer of the Prime Bank Ltd. and
collected primary data by survey method. I also collected Primary data by face to
face conversation with the officers of the Bank.
1.4.2 Secondary sources:
I have collected secondary data for my research paper .I have collected secondary
data for my research paper from:
Bank’s annual report
Bank’s records
Different documents of the Bank
Different books, periodical seminar papers, training
papers, manuals etc. related to the topic.
1.4.3 Target Group:
The target group was the customers of Prime Bank Limited.
1.4.4 Data Collection and presentation Techniques:
I designed a structured questionnaire for the customers of the Prime Bank Limited.
This structured questionnaire was the major tool of this research paper. After the
data collection I analyzed and presented the data by percentage, graphical
presentation techniques used different types of charts. I tried to analyze the major
or critical findings .Then, based on everything; I provided recommendations and
conclude the research paper.
1.4.5 Sample Size:
I surveyed 120 clients of the Prime Bank Limited by the questionnaire.
4. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 4 -
1.5 Limitation of the study:
The one of the main limitations of the research paper was to conduct a small scale
surveyon clients.
Time period was the other limitation for collecting information, which was only
three month long.
Insufficient supplyof relevant books and journals.
2.0 Profile of Prime Bank Limited :
2.1 Background of the Bank:
Prime Bank is one of the new Bangladeshi private banks, which was incorporated
on 17th
April 1995 with Tk.1000 million of authorized capital & Tk.100 million of
paid up capital by a group of successful entrepreneurs. It is not only a
conventional Bank. It’s a modern, dynamic private commercial bank & plays a
constructive role in the economic development of the country. Prime bank is the
first private bank to introduce lease finance, Hire purchase & customer credit
schemes along with Islamic banking services in the banking sector in order to
bring about qualitative changes in the lives of people of Bangladesh. PBL through
its steady progress & continuous success has, by now, earned the reputation of
being one of the leading private sector Banks of the country.
Prime Bank is listed with ‘promoter shareholders’ collectively holding a 46%
stake in the bank. One of the main reasons for the bank’s good financial condition
is that the bank’s promoters, who have other business interests as well, have
refrained from ‘using’ the bank for insider lending. This is a huge issue for
Bangladeshi private banks, and together with somewhat lax supervision, is the
single biggest factor for the poor financial condition of most private banks. While
Prime Bank has so far benefited from its promoter shareholders’ approach of
maintaining an arms-length relationship between the bank and their other
5. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 5 -
businesses, whether this would continue to be the case in future, particularly when
the second-generation promoters become directors of the bank, remains to be seen.
Prime Bank mainly caters to the trade finance market. Manufacturing activity in
Bangladesh is relatively subdued, but there are certain industries such as textiles,
where the country has a competitive advantage. Many textiles manufacturers
export their merchandise (garment exporters for example) and it is this customer
segment that the bank mainly caters to. The bank is involved at all stages of the
export cycle: it gives pre-shipment finance for working capital and also provides
post-shipment facilities such as bill discounting. In addition, the bank also
undertakes some amount of project financing for its clients’ plant and machinery,
or modernization requirements. The lending restrictions on state banks (due to
their poor capital position) have helped private banks such as Prime, which have
been growing at rapid rates (30-35% per annum). While the bank has done well so
far, its relatively small size makes it somewhat vulnerable to unexpected loan
losses if some large accounts go bad. Over the last three years, Prime Bank has
introduced credit cards in association with MasterCard. The credit card market in
Bangladesh is still relatively undeveloped with only about 250,000 cards in
circulation (population of Bangladesh: 130m). The foreign banks (mainly Standard
Chartered) are the main players in this segment, although some local banks such as
Prime have been investing in this market to position themselves for the future.
While delinquency rates on credit cards are relatively high (Prime Bank: 10%;
another local bank: 20%), the annualized interest rates on outstanding balances are
more than 40%, so it is a lucrative business to be in. Prime Bank has signed a co-
branding agreement with HSBC for issuing credit cards on their behalf, and also
plans to tie-up with VISA in the near future.
In addition to conventional interest-based banking, Prime Bank operates five
branches (completely separate from conventional banking) on the Islamic Shariah
principle; however, Islamic banking operations are relatively small and constituted
only about 5% of the conventional banking business.
2.2 The Profile at a Glance
6. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 6 -
Name: Prime Bank Limited
Date of Incorporation: 12th
February, 1995
Date of Inauguration of Operation: 17th
April, 1995
Registered Office: Adamjee Court Annex Building-2
119-120, Motijheel C/A
Dhaka-1000, Bangladesh.
Logo:
Name of the Chairperson of the board: Mr. Ajam J Chowdhury
Name of the Managing director: Mr. M. Ehsanul Haque
Number of Branches: 74
Services Provided: Deposit scheme, Loan & Islamic
Banking.
Diversification of products
& services: Corporate Banking, Retail Banking &
Consumer Banking.
Paid up capital: Tk.2843.75 million
Publicly Traded Company: Share quoted daily in DSE & CSE
Credit Card: Member of Master Card
Banking Operation System: Both Conventional and Islamic
Banking System.
Technology Used: Member of SWIFT, on line Banking,
UNIX based Computer System
Initial Public Offering:
Number of Shareholders: 9180
Market value per share: 540
E-mail: primebank.com.bd
Web Site: www.prime-bank.com.bd
SWIFT: PRBLBDDH
7. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 7 -
8. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 8 -
2.3 Hierarchy of Prime Bank Limited:
Chairman
Board of Directors
Executive Committee
Managing Director
Additional Managing Director
DMD
Company Secretary
Sr. Executive Vice President
Executive Vice President
Senior Vice President
Vice President
Sr. Assistant Vice President
Assistant Vice President
First Assistant Vice President
Top Management
Mid Level
Management.
Executive Level
Management
Junior Level
Management
9. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 9 -
Senior Executive Officer
Executive Officer
Principal Officer
Senior Officer
Management Trainee
Junior Officer
AASSSSIISSTTAANNTT
OOFFFFIICCEERR
Trainee Assistant
2.4 Our Vision:
To be the best Private Commercial Bank in Bangladesh in term of efficiency, capital
adequacy, asset quality, sound management and profitability having strong liquidity.
Our Mission:
To build Prime Bank Limited into an efficient, market driven, customer focused
institution with good corporate governance structure. Continuous improvement in our
business policies, procedure and efficiency through integration of technology at all levels.
10. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 10 -
2.5 Financial Highlights:
(Taka in million)
Sl.# Particulars 2007 2008
1 Paid-up Capital 2275 2844
2 Total Capital 6383 7859
3 Capital surplus/deficit 834.13 633.36
4 Total Assets 79,588 110,437
5 Total Deposits 70,512 88,021
6 Total Loans and Advances 57,683 75,156
6 Total Contingent Liabilities and
Commitments
33,088.73 37,815.34
7 Credit Deposit Ratio 82% 85%
8 Percentage of Classified Loans against
Total Loans & Advances
1.35% 1.76%
9 Profit after tax & provision 1400.66 1,231.83
10 Amount of classified loans during
current year
777.22 1,322.60
11 Provisions kept against classified loan 478.40 734.43
12 Provision surplus/(deficit) against
classified loan
316.79 133.82
13 Cost of fund 8.41% 8.55%
14 Interest earning Assets 72,798.51 100,261.38
15 Non-interest earning Assets 6,789.92 10,175.73
16 Return on investment (ROI) 12.60% 9.74%
718 Return on Assets (ROA) 1.99% 1.30%
19 Income from Investment 1,294.21 1,743.68
20 Earning per Share 49.25 43.32
21 Net Income per Share 49.25 43.32
22 Price Earning Ratio 10.96 12.46
11. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 11 -
2.6 Branch Network:
Prime Bank has 40 existing branches and some other proposed branch all over the
Bangladesh to provide better service to their valuable customers.
Figure 3: Branch Network
Chittagong
Division
Khulna
Division
Barishal
Division
Sylhet
Division
Rajshahi
Division
Dhaka
Division
Existing
Branches
13. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 13 -
2.7 Field of Operations:
PBL, being one of the best financial intermediaries in the country, blended its
operations in conventional banking, Islamic banking and investment banking. The
blending has been done with the objective of diversifying the operations for
catering to the needs of the customers of the different strata of the society from
one viewpoint and for having sustainable growth in profitability and business with
the least possible risk. The bank’s operations were diversified into the following
areas of activities as a dynamic financial intermediary.
Conventional Banking Operation
Islamic Banking Operation
Lease Finance Operation
Merchant Banking
Retail Banking
In order to carry out the above operations PBL has set up the following divisions,
departments and units in its Head Office:
1. Credit Operation & Management Unit
a. Corporate/Relationship Operation Department
b. Credit Risk Management Department
c. Credit Administration department
d. Credit Monitoring and Recovery Department
e. Export Finance Division
f. Small & Medium Enterprise (SME) Credit Cell
g. Structured Financing Unit
2. International Division
3. Treasury Division
14. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 14 -
4. Leasing Unit
5. Card Division
6. Retail Credit Division
7. Corporate Affairs Division
8. Islamic Banking Division
9. Merchant Banking & Investment Division
For facilitating operations by the above mentioned divisions the bank has
established the following divisions to provide support and internal services:
Human Resource Division
Information Technology Division
Public Relations Division
Financial Administration Division
General Services Division
Marketing Division
Prime Bank Training Institute
Branches Control Division
For ensuring internal and statutory compliance there are following three cells
namely,
o Board Audit Cell
o Audit and Inspection Division
o Central Compliance Department
Besides, there is a Board Secretariat to look after the company matters and to for
arrange for Board/Executive Meetings and record the proceeding of the board/EC.
15. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 15 -
2.8 Services Provided:
1) Deposit Scheme
2) Loan
3) Islamic Banking
Deposit Scheme:
Bank is the largest mobilize of surplus domestic savings. For poverty alleviation,
we need self employment, for self-employment we need investment and for
investment we need savings. In the other words, savings help capital formations
and the capital formations help investments in the country. The investment in its
turn helps industrialization leading towards creation of wealth of the country. And
the wealth finally takes the country on road to progress and prosperity. As such,
savings is considered the very basis of prosperity of the country. The more the
growth of savings, the more will be the prosperity of the nation.
The savings rate in Bangladesh is one of the lowest in the world. In order to
improve the savings rate, Financial Institutions responsible for mobilization of
savings should offer attractive Savings Schemes so that the marginal propensity to
save increases. The savings do not, of course, depend only on the quantum of
income but largely depend on the habit of savings of the people.
PBL formulated the following Savings Schemes
Contributory Savings Scheme Monthly Benefit Deposit Scheme
Education Savings Scheme Fixed Deposit Scheme
Short Term Deposit Lakhopati Deposit Scheme
Double Benefit Deposit Scheme Foreign Currency Account
Resident Foreign Currency Deposit Account
Non-resident Foreign Currency Deposit Account
Non-resident Taka Account
Non-resident Investors Taka Account
]
16. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 16 -
Loan Scheme:
General Loan Scheme
Depending on the various nature of financing, all the lending activities have been
brought under the following General Loan:
Short term Loan
Medium term Loan
Long term Loan
The loans are allowed to individual/firm/industries for a specific purpose but for a
definite period and generally repayable by installments fall under this head. This
type of lending are mainly allowed to accommodate financing under the categories
(i) Large & Medium Scale Industry and (ii) Small & Cottage Industry. Very often
term financing for (1) Agriculture (ii) Others.
Hire Purchase
Hire Purchase is a type of installment credit under which the Hire Purchase agrees
to take the goods on hire at a stated rental, which is inclusive of the repayment of
Principal as well as interest for adjustment of the loan within a specified period.
House Building / Apartment Loan Scheme
Loans allowed to individual/enterprises for construction of house (residential or
commercial) fall under this type of advance. The amount is repayable by monthly
installment within a specified period. Such advances are known as Loan (HBL-
GEN).
Loans allowed to our Bank Employees for purchase /construction of house shall be
headed Staff Loan (HBL-STAFF).
Lease Finance:
Lease financing is one of the most convenient long term sources of acquiring
capital machinery and equipment. It is a very popular scheme whereby a client is
given the opportunity to have an exclusive right to use an asset, usually for an
agreed period of time, against payment of rent. Of late, the lease finance has
17. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 17 -
become very popular in almost all the countries of the world. An obvious
advantage of the lease is to use an asset without having to buy it. The lessee is
obligated to make lease payments until the expiration of the lease agreement,
which corresponds to the useful life of the asset.
In a capital scarce economy like ours, Lease Financing is suitable for firms to
acquire Capital Machinery, Equipments, Medical Instruments, and Automobiles
etc. And thereby employ their own resources more advantageously in some other
investments. Lease financing also helps a firm to reap significant economic benefit
through tax saving and by reducing the risk of the equipments becoming obsolete
due to the technological advancement.
Small & Medium Enterprise (SME)
Bangladesh is a densely populated country. Job opportunity here is very scanty;
Unemployment rate is approximately 40%. Population below poverty line is 36%.
Therefore, it is the prime concern for the nation to generate income through
creation of job opportunity & employment. Creation of job opportunity at large
scale by us is not possible. What can be done better is to help self-employment
through financial support. There are many small and medium entrepreneurs in the
country that have innovative idea, spirit and potentiality to do something
productive for local consumers as well as export abroad.
They can generate income and contribute to the GDP. They may also provide
employment to other people. Development and growth of Small and Medium
Enterprise is vital for national development. Such type of beneficial enterprises
borrower can not go a long way for want of financial support because they have no
access to institutional credit facilities, as they cannot provide collateral security as
demanded for such credit facility.
Consumer Credit Scheme
In order to provide financial assistance to the limited income group for raising
their standard of living by acquiring domestic durables like Refrigerator, T.V.,
Washing machine, Furniture, Computer, Motor Car, etc., the bank has introduced
a Scheme to improve the quality of life particularly of the fixed income earner of
the society and this scheme is known as Consumer Credit Scheme (CSS).
18. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 18 -
Islamic Banking
Prime Bank has started its Islamic Banking operation through its first Branch
being inaugurated at 19, Dilkusha C/A, Dhaka on 18 December 1995. Since then it
has so far has established four more branches at different locations in the Country.
Because of its popularity and management’s commitment toward social well being
gradual expansion of Prime Bank’s Islamic Banking operations is assured.
Following are the salient features of Islamic Banking, as is practiced in Prime
Bank Limited:
01. All activities are conducted according to Islamic Shariah.
02. Interest free monetary operations.
03. Building partnership relation between the Bank and its customers.
04. Following Islamic principles in its investment portfolio.
05. While investing special consideration to social needs is given.
06. Through small and long term deposit schemes providing hope to the poor
income group of the society.
07. Client service centric banking, through which making the clients feel special.
08. Conduct welfare activates etc.
Service Portfolio:
Prime Bank provides following services under Islamic Banking:
Deposit
Investment
Foreign Trade
Remittance and Fund Transfer
2.9 Performance:
Prime Bank has been profitable since the first year of its operations. Profits were
low in 1998 as the bank incurred losses on its stock market operations.
Management described this as a ‘learning experience’ and has since refrained from
stock trading activities. Indeed the bank’s profitability has been exceptional
19. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 19 -
compared with its Bangladeshi counterparts, and it reported an average ROE of
20.58% (ROE at end-2007 was 30.36%) between 2005 and 2008.
As a fully licensed commercial bank, Prime Bank Ltd. is being managed by a
highly professional and dedicated team with long experience in banking. They
constantly focus on understanding and anticipating customer needs. As the
banking scenario undergoes changes so is the bank and it repositions itself in the
changed market condition.
Prime Bank Ltd. has already made significant progress within a very short period
of its existence. The bank has been graded as a top class bank in the country
through internationally accepted CAMEL rating. The bank has already occupied
an enviable position among its competitors after achieving success in all areas of
business operation.
The bank has consistently turned over good returns on Assets and Capital. During
the year 2008, the bank has posted an operating profit of Tk. 3,847 million and its
capital funds stood at Tk 7,858.65 million. Out of this, Tk. 2,843.75 million
consists of paid up capital by shareholders and Tk. 1,547 million represents
reserves and retained earnings.
The bank’s current capital adequacy ratio of 10.88% is in the market and much
above the stipulated line of 11%. In spite of complex business environment and
default culture, quantum of classified loan in the bank is very insignificant and
stood at less than 2%.
2.10 Comparative Position:
Prime Bank Ltd. offers all kinds of Commercial Corporate and Personal Banking
services covering all segments of society within the framework of Banking
Company Act and rules and regulations laid down by our central bank.
Diversification of products and services include Corporate Banking, Retail
Banking and Consumer Banking right from industry to agriculture, and real state
to software.
20. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 20 -
Prime Bank Ltd., since its beginning has attached more importance in technology
integration. In order to retain competitive edge, investment in technology is
always a top agenda and under constant focus. Keeping the network within a
reasonable limit, bank’s strategy is to serve the customers through capacity
building across multi delivery channels.
Bank’s past performance gives an indication of their strength. The bank is better
placed and poised to take its customers through fast changing times and enable
them compete more effectively in the market they operate.
There are 52 banks operating in our country. Among all these banks PBL has
established itself as one of the most influential local bank. Prime Bank’s position
can be figured out from the following table
21. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 21 -
PBL’s Comparative Position
(Figure in crore Tk.)
Sl
No
.
Banks
Operating
Profit
ROA EPS Deposit Advance
Paid-Up
Capital
1 Prime
Bank
3,847 1.30
43.3
2
88,020.5
9
75,156
2,843.7
5
2 Dhaka
Bank
2,533 1.18 43 56,986 49,698 1,934
3 Dutch-
Bangla
bank
2,234 1.12
43.4
5
60,976 55,982
2,207.5
2
4
Southeast 2,983 1.10
42.6
4
60,119 55,480
2,640.4
5
5 Social
Investmen
t Bank
2,458 1.00
40.1
2
57,879 50,650
2,600.5
4
6
NCC Bank 2,950 1.20
41.5
0
57,490 55,546
2,569.5
6
7 Al-Arafah
Bank
30,709 1.05 40.6 84,300 72,920
2,634.8
7
Source: Prime Bank Training Institute
22. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 22 -
Graphical Representation:
0
1000
2000
3000
4000
5000
Amount
Prime
Bank
Dutch-
Bangla
bank
Social
Investment
Bank
Al-Arafah
Bank
Banks
Comparative Position
Operating Profit ROA EPS Deposit Advance Paid-Up Capital
Figure 4: Comparative Position
So, Prime Bank Limited is a fast growing and modern private commercial bank. It
is making its marks in the country’s socio-economic condition by channel zing the
much-needed fund to the entrepreneurs. And by doing this consistently and
efficiently it is also satisfying the shareholders.
23. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 23 -
2.11: Prime Bank Limited: Panthapath Branc, at a glance:
Panthapath Branch of Prime Bank Limited is a profit earning branch .It is one of the
newest branches of Prime Bank Limited which was established just in April 2005. It is
situated at the ground floor of Firoj Tower at the Green Road crossing. It is a very
important place as the place is becoming a more commercial area day by day.
The Branch has 18 Employees of which the Head Of the Branch Mr. A. K. M Kamal
Uddin is a Vice President of Prime Bank Limited .The Branch also has 1 Senior Assistant
Vice President as it’s Manager Operations, 1 Senior Executive Officer, 1 Executive
Officer, 2 Principal Officers, 4 Senior Officers, 2 Management Trainee, 4 Assistant
Officers and 2 Trainee Assistant Officer. All of them are very cooperative and helpful
which is enough to satisfy their clients. .Although it started its operation in April 2005 as
the year ended we have to admit that despite all barriers it succeeded to fulfill its profit
target. Although it is not still an Authorized Dealer of Foreign Exchange, it performs its
dealings through its Kawranbazar Branch. The performance of this Branch is very well
which could be analyzed with the help of following data.
Half- Yearly (2009) Closing Position of Panthapath Branch
(as on 30.06.2009)
Parameters Figure
Profit Tk.251.90 lac
Deposit Tk.113.85 Crore
Advance Tk.74.54 Crore
Retail Loans Tk.12.93 Crore
SME Loans Tk.13.45 Crore
Import Tk.30.32 Crore
Export Tk.5.59 Crore
Inward Remittance (Foreign) Tk.2.72 Crore
Bank Guarantee Tk.7.48 Crore
Panthapath Branch is a new Branch, so it is cognizable that the Branch will
take time to settle down in a ‘Prime’ condition. As the Officers always try hard to
24. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 24 -
improve the status and the high officials of the Bank are always keen to make the Branch
a busiest one it is expected that the above volume will be larger day by day.
3.0 Literary Review
3.1 Customer Service :
Customer service means to provide customers with good services in order to
earn profit along with customer satisfaction.
Successful customer service companies focus their attention on both their
customers and their employees .They understand the service profit chain , which
links service firm profits with employee and customer satisfaction .This chain
consists of five links :
Internal service quality : Superior employee selection and training ,
a quality work environment ,and strong support for those dealing
with customers.
Satisfied and productive service employees :More satisfied ,loyal
and hard working employees .
Greater Service Value : More effective and efficient customer
value creation and service delivery.
Satisfied and loyal customers : Satisfied customers who remain
loyal, repeat purchase , and refer other customers.
Healthy service profits and growth : Superior service firm
performance.
From the above discussion it can be said that well managed customer
service companies share a number of common virtues regarding
25. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 25 -
customer service .Successful service companies are “Customer
Obsessed”, and set high service quality standards.
3.2 Managing Service Quality :
A service firm may win by delivering consistently higher quality service than
competitors and exceeding customer’s expectations. These expectations are
formed by their past experiences, word of mouth and advertising. After receiving
the service, customers compare the perceived service with the expected service. If
the perceived service meets or exceeds their expectations, they are apt to use the
provider again.
Researchers formulated a service quality model that highlights the main
requirements for delivering high service quality. The model, shown in the figure
below, identifies five gaps that cause unsuccessful delivery.
1.0 Gap between consumer expectation and management perception :
Management doesn’t always perceive correctly what customers want. A Bank
authority may think that clients want prompt service but clients may be more
concerned with more responsiveness.
2.0 Gap between management perception and service quality specification :
Management might correctly perceive the customers wants but not set a
specified performance standard. A Bank may tell the Officers to give fast service
without specifying it quantitatively.
26. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 26 -
3.0 Gap between service quality specifications and service delivery :
The personnel might be poorly trained, or incapable or unwilling to meet the
standard or they may be held to conflicting standards, such as taking time to listen
to customers and serving them fast.
4.0 Gap between Service delivery and external communications :Customer
expectations are affected by statements made by company representatives and
advertisements.
5.0 Gap between perceived service and expected service :This gap occurs when the
consumer misperceives the service quality. The Banker may keep visiting the
valued clients but the client may interpret this as an indication that something
really is wrong.
3.3 Service quality Parameters:
Researchers found out five parameters of service quality. These are presented in
order of importance:
1.0 Reliability:
The quality to perform the promised service dependably and accurately
is called reliability. In its broadest sense reliability means that the company
delivers their services on its promises .Customers want to do business with
27. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 27 -
companies tat keep their promises, particularly their promises about the core
service attributes. In my questionnaire 3 questions were to assess the reliability of
the Prime Bank Limited, which were:
1. Do you think PBL provides the services all time that it promises to do so?
2. When you face a problem PBL show interest to solve the problem?
3. Are the Problems solved promptly?
2.0 Responsiveness:
Responsiveness is the willingness to help customers and to provide
prompt service .This dimension emphasis attentiveness and promptness in dealing
with customer request, questions, complaints and problems .Responsiveness is
communicated to customers by the length of time they have to wait for assistance,
answer to questions or attention to problems .Responsiveness also captures the
notion of flexibility and ability to customize the service to customer needs.
In my questionnaire the following questions were about responsiveness:
1. Do you think PBL employees are very friendly and helpful?
2. Do you think employees always search for solutions for you?
3. Do you think the behavior of the officers satisfies you?
3.0 Assurance:
Assurance is defined as employee’s knowledge and courtesy and the
ability of the firm and its employees to inspire trust and confidence .This
dimension is likely to be particularly important for services that the customers
perceive as involving high risk.
In my questionnaire the following questions were about Assurance:
28. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 28 -
1. Do you think the employees of PBL are trustful and reliable?
2. Every transaction by PBL employees is safe to you?
3. Do you think as a Bank, Prime Bank is always trustworthy from all aspect?
4.0 Empathy:
Empathy is defined as the caring, individualized attention the firm
provides its customers. The essence of empathy is conveying through personalized
or customized service that customers are unique and special.
In my questionnaire the following questions were about Empathy:
1. Do you think PBL always give you individual attention?
2. Do you think PBL understands your specific needs?
3. Do you think PBL believes in personal relationship with their clients?
5.0 Tangibles:
Tangibles are defined as the appearance of physical facilities,
equipment, personnel, and communication material.
In my questionnaire the following questions were about tangibles:
1. Do you think PBL use modern looking equipment?
2. Do you think the Bank has a convenient transaction hour?
3. Do you think PBL should introduce new facilities like ATM card and
credit card facilities?
There were also another question asking whether the customers are satisfied with,
the present charges and fees of Prime Bank Limited. Also there was a scope for
them to opine on the Bank services .These were also evaluated through the whole
survey process.
29. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 29 -
4.0 Customer Service of Prime Bank Ltd
4.1 An overview of customer services activities:
Prime Bank Limited is a leading Bank in Bangladesh .At the end of 2008 fiscal
year; it stood the Second position among the native conventional Private Banks in
case of profit. It is also in a very good position in the Bangladesh Bank introduced
CAMEL rating. As it is topped among the other financial institutions, it is also
very much caring to its customers.
So customer service is always a very vital issue for Prime Bank Limited. There is
a common dialogue in Prime Bank which says “Customers Are Our KING”.So it
likes to treat its customers with a very outstanding manner. As the hospitality is
very necessary, the Bank always try to give its clients the best service. All the
efforts and works in the Branch Banking environment focus on customer
satisfaction .There are several departments in a Bank which is more or less directly
linked with the customers. These are Front desk, Computer section, Cash
department, CCS department and also foreign exchange department. An
evaluation of customer services given by this department can be discussed below:
4.2. Front Desk Activities:
Front desk play a very vital role in a Bank’s customer service. This happen
gradually that a prospective client approach to a Bank at first to know something
30. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 30 -
.To know the facilities which the Bank could provide him. Clients want to know
various matters to a Bank. There are varieties of clients .Someone may be a
teacher, someone is a doctor, and someone is businessman and may be some are
students. To a Bank all the prospective customers are equally valuable. When a
client enters into a Bank, he at first meets to the Front Desk. So the officers who
serve here play a very important role .It is a very common rule that “First
impression should be the best impression”.Prime Bank is very prompt in their
front desk activities. Here customers find their guideline and all necessary
information .They can open their account, open different deposit scheme, deposit
cheques for clearing, can do Pay Order and could get all support to do so from the
experienced officers.
4.3 Computer Department:
Computer is a very necessary part of Branch Banking activities. At
present Prime Bank is using PC BANK software for their all daily transaction
.Officers help customers in this section to post their cheques , provide them bank
statement , give them different types of certificates as the customers demand. They
also provide them bank balance directly or over phone. Here officers help their
clients to get a track of all transactions as if they feel comfort.
4.4 Online Banking in Prime Bank Limited:
At present Prime Bank provide online banking to some selected
customers .To get this facility an account holder needs to apply first. Then the
bank decides whether the account will be benefited with online Banking. If a
account holder gets online banking facility then he is able to make transaction in
any Branch of Prime Bank Limited.
31. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 31 -
5.0 Findings and analysis of Customer Services Quality
5.1 Questionnaire findings and analysis:
Now the survey findings are represented by according to different parameters. The
answer of the questions are representing according to the parameter that identify
the customer perception or attitude towards customer services of the Prime Bank
Limited.
5.1 A Reliability Parameter:
Q 1 Do you think PBL provides the services all time that it promises to do so?
Satisfaction option Percentage Frequency
1 30% 36
2 40% 48
3 25% 30
4 5% 6
5 0% 0
Q 2 When you face a problem PBL show interest to solve the problem ?
Satisfaction option Percentage Frequency
1 32% 39
2 44% 53
3 13% 15
32. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 32 -
4 11% 13
5 0% 0
Q 3 Problems are solved very promptly?
Satisfaction option Percentage Frequency
1 32% 39
2 44% 53
3 13% 15
4 11% 13
5 0% 0
Findings:
Prime Bank Limited provides its services at the time it promises to do so.
When you face a problem Prime Bank Ltd shows a sincere interest to
solving it.
Problems are solved promptly.
5.1b Responsiveness Parameter:
Q 4 Do you think PBL employees are very friendly and helpful ?
Satisfaction option Percentage Frequency
1 12% 14
33. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 33 -
2 34% 41
3 17% 21
4 23% 27
5 14% 17
Q 5 Do you think that employees always search for solutions for you?
Satisfaction option Percentage Frequency
1 39% 47
2 23% 28
3 22% 26
4 8% 10
5 8% 9
Q6 Do you think the behavior of the officers satisfy you?
Satisfaction option Percentage Frequency
1 41% 49
2 22% 26
3 17% 21
4 15% 18
5 5% 6
Findings:
Employees of Prime Bank Limited are friendly and helpful.
34. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 34 -
Employees always search for solutions for the clients.
The behaviors of the employees are very good.
5.1c Assurance:
Q 7 Do you think the employees of PBL are trustful and reliable?
Satisfaction option Percentage Frequency
1 42% 51
2 28% 33
3 12% 14
4 14% 17
5 4% 5
Q 8 Every transaction by PBL employees is safe to you ?
Satisfaction option Percentage Frequency
1 13% 16
2 38% 45
3 27% 32
4 19% 23
5 3% 4
Q 9 Do you think as a Bank,Prime Bank is always trustworthy from all aspect ?
Satisfaction option Percentage Frequency
1 45% 54
2 26% 31
35. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 35 -
3 21% 25
4 8% 10
5 0% 0
Findings:
Employees of Prime Bank Limited are trustful and reliable.
The transaction by PBL employees is safe to the clients.
As a Bank, Prime Bank Limited is trustworthy to its clients.
51 d Empathy.
Q 10 Do you think PBL always give you individual attention?
Satisfaction option Percentage Frequency
1 26% 31
2 52% 62
3 6% 8
4 16% 19
5 0% 0
Q 11 Do you think PBL understands your specific needs?
Satisfaction option Percentage Frequency
1 24% 29
2 28% 33
3 38% 46
4 10% 12
36. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 36 -
5 0% 0
Q 12 Do you think PBL believes in personal relationship with their clients ?
Satisfaction option Percentage Frequency
1 15% 18
2 25% 30
3 32% 39
4 21% 25
5 7% 8
Findings:
Prime Bank Ltd .always gives individual attention to its clients.
Prime Bank Ltd. understands customer’s specific needs.
Prime Bank believes in personal relationship with their clients.
5.1 e Tangibles:
Q 13 Do you think PBL use modern looking equipment?
Satisfaction option Percentage Frequency
1 23% 28
37. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 37 -
2 46% 55
3 13% 16
4 11% 13
5 7% 8
Q 14 Do you think the Bank has a convenient transaction hour?
Satisfaction option Percentage Frequency
1 36% 43
2 43% 52
3 17% 20
4 4% 5
5 0% 0
Q 15 Do you think PBL should introduce new facilities like ATM card and
credit card facilities?
Satisfaction option Percentage Frequency
1 50% 60
2 27% 32
3 16% 19
4 7% 9
5 0%% 0
Findings:
38. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 38 -
Prime Bank use modern equipment in their Banking service.
Prime Bank has a convenient transaction hour.
Modern facilities like ATM machine, credit card facility should be
introduced to Prime Bank.
5.1 f Others
Q 16 Do you think the fees and service charges of the Bank are reasonable in
comparison with other Banks?
Satisfaction option Percentage Frequency
1 12% 14
2 38% 46
3 27% 33
4 11% 13
5 12% 14
Findings:
Customers seldom say that the charges of Prime Bank Ltd is quite high .So these
fees should be reduced.
Q 17 what is your opinion to improve the Services of the Bank
Option Percentage Frequency
Introduction of ATM 58% 70
Transaction hour long 22% 27
39. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 39 -
Online Promptness 12% 14
Service charge lower 5% 6
Friendly atmosphere 3% 3
Findings:
Clients of Prime Bank Limited strongly desire ATM service , which we
found from the above table. Some say that Evening Banking should be little more
lengthened while some demands online service to be very fast.
5.2 SWOT Analysis:
SWOT analysis enables an organization to have a comprehensive insight about its
current position in the industry compared to the competitors. It provides the
organization a scope to strategically improve its position in the market. Here, the
internal strength and weakness of Prime Bank Limited as well as the external
opportunities and threats are discussed:
5.2 a Strength:
40. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 40 -
Capital Adequacy:
Prime Bank Ltd. is maintaining a strong capital base. By the end of 2008, capital
adequacy ratio of the bank was 10.88% that is well above the stipulated
requirements of 11%. The bank had a target to have tk. 5,960.65 million of capital
fund by the year 2007, whereas it already reached capital fund of almost
tk.7,858.65 million by 2008, positioning the bank as one of the strong capital
based bank of Bangladesh. The bank has now also increased its authorized capital
to 5000 million to its expansion programs.
Customer Service:
PBL has a very good relationship with its customers. The bank believes in
maintaining personal relationship with the clients. One of the major goals of the
bank is to build long term relationship with the customer and to create value for
them. To maintain this relationship, PBL sometimes waiver high charges for those
valued clients who are linked with the bank for a long period of time. The bank
recently has approximately more than 1,54,000 clients, highest in the private
sector commercial banks of our country.
Liquidity Position:
Liquidity position is a major criterion to measure a bank’s strength. By the end
2008 PBL has liquid assets of Tk.10.892 million; the ratio of liquid assets to total
was 8.36%. So, the liquidity risk of the bank is low and makes its position
stronger.
41. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 41 -
Efficient Administration
Prime Bank Ltd. had an efficient administration. The work is done in a timely and
systematic manner for which the efficient administration is responsible. There is
close relationship between the employees and management though the chain of
command is maintained strictly. Overall, there is a good balance between the
administration and the employees.
Quality of Assets:
The asset of PBL is of very high quality. The major portion of this asset is loan
and advances. The default rate is less than 2.00% whereas the average default rate
in Bangladesh is 35%. This proves that the credit risk of PBL is very low.
5.2 b Weakness
Technology:
One of the major weaknesses of Prime Bank Ltd. is the technology used by the
bank. With the change of time, technological advancement is essential to survive
in the competition. Hence, PBL is lagging far behind in this area. Most of the
branches are not well equipped. There are not enough computers, telephones and
faxes machine in the branches which often slower the pace of work. PBL is the
pioneer of on banking in Bangladesh but unfortunately enough that this facility is
42. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 42 -
lagging behind in the present scenario of banking as others offer more
sophisticated online banking.
Remunerations:
The pay scale of the employees in PBL is not competitive compared to other
private banks of Bangladesh. The employees of the PBL get compensation of
around 70% of what other private banks, for example Dhaka Bank, Southeast
Bank etc. offer to their employees. This creates dissatisfaction among the
employees that carries the risk of rise in employee turnover rate. It also create job
switch tendency among the PBL employees.
Promotion:
When an employee gets a promotion to the next level, he/she gets more
compensation. PBL is regular in giving promotion, but the employees get late
effect of this promotion. Often there is a long gap, for example a six month gap in
getting the effect.
Training:
PBL has its own training institute PBTI (Prime Bank Training Institute) to
strengthen the capabilities of human resources. However, it is not always possible
to give through training. Especially, there is a lack of specific training for specific
jobs. As a result, the employee has to learn things from the job by doing it
practically.
43. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 43 -
5.2 c Opportunity
ATM Facility:
Currently Prime Bank Ltd. does not have ATM facility. Many other leading
competitors have ATM service that provides 24 Hours limited cash transaction to
their clients. This service is highly preferred by the clients, as they have to wait
less time in ATM booth. So, PBL has good opportunity to install ATM service to
meet the greater service demand of consumers.
Branch Expansion:
Prime Bank is growing quickly all over the country. Besides expanding in the
urban areas, PBL has prospects to open more branches in sub-urban areas, which
will eventually enhance the government effort at receiving rural economy as well
as reaching more people by better service.
Training Facility:
Prime Bank Training institute (PBTI) is supporting the bank by offering in house
training courses, workshops and seminars. As the bank has its own training
institute to enhance the capability of human resources, PBL can use this
opportunity to train their employees in specific areas and create specialized and
expert people for the bank.
44. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 44 -
Banking Software:
Prime Bank is still lagging behind in upgrading their software system. The bank
has the prospect to select high quality banking software which will make the
banking operations easier and smooth as providing quality service is one of the
major goals of Prime Bank Limited.
5.2 d Threats
Level of Competition:
Competition is always a major threat for any organization. In recent years, the
number of private bank is increasing. These banks always pose a threat for others
by coming up with new product line, innovative technology, quality services, etc.
thus the level of competition rises and create threat for prime bank limited.
Technological Advancement:
With time, technology is getting advanced and most of the private banks are
upgrading their operating system to survive in the industry. PBL is lagging behind
in this department and still mostly dependent on manual work rather than
technology. Advancement of technology is posing great threat for PBL.
Compensation Package:
Compared to other private banks of Bangladesh, the compensation of PBL is not
so attractive. Though the employee of PBL gets fair financial and other benefits,
45. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 45 -
the base pay is not sufficient. This poses a lot of threat on the employees of
switching to other banks from PBL.
Political Unrest:
The political unrest as well as the law and order situation of Bangladesh is always
a threat for banking industry. Especially, the events of recent years, the corruption
level of our country, the poor infrastructure are affecting the national economy.
The current economic situation is very likely to get worse further. In this case, the
whole banking industry is facing a big threat.
6.0 Comparison of Prime Bank Limited with other Competitive
commercial Bank :
In this case I have selected Standard Chartered Bank and BRAC Bank Limited as these
bank has a better perception of the consumers as better and fast service providing bank. The
comparison are shown below:
Sl Prime Bank Limited (PBL) BRAC Bank Limited Standard Chartered Bank
(SCB)
1. PBL offers a vast range of
products that are quite
attractive to different
Income group of consumers.
1. BRAC Bank offer products
that are both favorable to
higher and middle earning
groups of the society.
1. SCB also offers similar
attractive products mostly
to the higher income group
Of consumers.
2. PBL offers master and visa
credit card facility both in
home and abroad with 24
hours call center for help.
2. At present BRAC Bank
don’t offer any type of credit
card facility to its customers.
2. SCB also offers master and
visa credit card facilityboth
in home and abroad with 24
hours call center for help.
46. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 46 -
3. PBL don’t offer telephone
information or customer care
services.
3. BRAC BANK serves its
customers with 24 hour
customer care service.
3. SCB offer customer care
through Call Center Phone
Link access by which
customers can get
information’s about their
accounts and details over
telephone.
4. PBL don’t offer ATM (auto
teller machine) to their
customers.
4. BRAC Bank has ATM
facility in its all Branches and
also in some places where it
doesn’t have anybranch.
4. SCB offers the largest
network of ATM service all
over Bangladesh. It also
provides paying different
utility bills.
5. PBL offer ONLINE banking
only to few selected customers
who are eligible. Online
banking helps client to deposit
and draw money form any
branch of the bank.
5. BRAC Bank offer online
facilityto all of its customers.
5. SCB has a central software
network which offers all
clients to ONLINE banking
facilityall over Bangladesh.
6. PBL offers Evening Banking
at some selected branch which
is up to 4p.m to 6 p.m.
6. BRAC Bank has evening
Banking facility where it
serves even up to 8.0 PM .
6. SCB offers Evening
Banking at some selected
branch which is up to 6p.m to
8 p.m.
7. PBL charges moderately low
to their customers for their
services.
7. BRAC Bank also charges
moderately low to its
customers.
7. SCB charges moderately
high to their customers for
their services.
47. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 47 -
8. PBL maintains strict
regulations about giving
advance to their clients; as a
result they usually take
considerate amount of time to
disburse loans.
8. BRAC bank is quite
moderate to disburse loan to
its clients.
8. SCB is a bit flexible about
giving advance to their
clients; as a result they
usually take less time to
disburse loans.
9. PBL offer locker service to
their clients at some selective
branches.
9. BRAC Bank also offer
locker services to some
selected Branches.
9. SCB offer locker service
to their clients at most
branches.
10. Numbers of credit card holder
are less than SCB.
10. BRAC Bank doesn’t have
any credit card service.
10. SCB have large number
of credit card holders
compared with other
Commercial banks.
7.0 Recommendations and Conclusion:
7.1 Recommendations:
The survey results have given valuable information as to where improvements are
necessary to improve the customer services quality of PBL. Now I recommend the
following major things, which will be helpful for PBL:
Banking is a service-oriented business. Its business profit depends on its
service quality. That’s why the authority always should be aware about
their service quality.
Modern banking today is introducing various kinds of services, which
attract different types of target customers. PBL should diversify its banking
services and add new features in its services so that it can attract customers
48. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 48 -
from all groups of people. Financial researcher of PBL should be
innovative in developing new banking services, which will attract
customers and also reduces cost.
Bank should offer more facilities to the customers such as more ATM
machine service.
Now a days world is going very fast. Now most of the banks open online
customer service system. So in order to compete in the competitive market
they should adopt real time online banking system in every branch.
Prime Bank Limited should provide bank statements periodically, because
most of the top positioned bank now a days offer this facility. The bank
should redesign the format of its account into a clearer and easily
understandable format that will be helpful for the customers.
As for deposit schemes, PBL has innovative products like the education
savings scheme, but it can do product extension and increase its deposit
base by introducing more variety in the maturity of the schemes.
Long-term training very much required for the employees.
Many branches can be opened to reach the bank’s services in remote
locations.
In general banking department it is necessary to implement modern banking
process instead of traditional system. It should be more computerized.
Data based networking is the most modern technology to transfer data form
branch to branch or branch to head office and vice versa. So they must use
this technology in information Technology (IT) dependent of the Bank.
49. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 49 -
13.0 Conclusion
Prime Bank limited is a modern commercial bank.. It is committed to provide high
quality financial services / products to contribute to the growth of G.D.P. of the
country through stimulating trade & commerce, accelerating the pace of
industrialization, boosting up export, creating employment opportunity for the
educated youth, raising standard of living of limited income group and overall
sustainable socio-economic development of the country.
The Bank is operating efficiently with its existing products and services. It
has remained profitable from the inception of its operation in the commercial
banking sector. The emergence of fierce competition and adverse economic
condition has forced the bank to be innovative in offering its products and
customer services.
Service quality is a critical component of customer perceptions. In the case of
pure services, service quality will be the dominant element in customers’ evaluations.
The services which the branch provides to their clients, are very prompt and
quality one compare to other private or foreign banks. So Prime Bank is the bank,
50. Prime Bank Limited
a bank with a difference
___________________________________________________________________________________
__________________________________________________________________________________
- 50 -
which will survive in the banking sector of the world on the slogan "Bank with a
difference".
