Retail & Corporate Credit Scheme of Prime Bank Limited

Abstract

The bank plays an important role in the economy of any country. The banking system of Bangladesh is composed of variety of banks working as nationalized commercial banks, private banks, foreign banks, specialized banks and development banks. However there are many private banks in Bangladesh. At present, among other banks Prime Bank Limited plays as a leading bank to provide efficient banking service with a view to accelerating socio-economic development of the country. Day by day, new competitors appear with better ideas and product as well as service. “Consumer Credit scheme” one of the new innovative idea which is provided to the credit needs to various income group for different purpose. In a present time few banks operate this scheme with short volume than Prime Bank Limited. To make its position more strong, PBL wants to make their credit scheme more attractive to the customer. For various purpose PBL provide their credit scheme at various level. For individual purpose, for investing purpose, for exporting-importing purpose they have different kind of loan facilities. Executive summary: In retail credit the loan has to repay within a specific period. The person within the age of 25 to 6o having a permanent job can apply for the CCS loan for Prime Bank Limited. They can borrow a limited amount of money within a specific range. The interest rate is 15% for all the products. Prime Bank Limited has some problem with their CCS customer. Sometimes the down payment paid by CCS Customers is very high with the PBL. Many of the customers are not satisfied with the interest rate and loan payment period. They should include more differentiate product in their scheme. In corporate credit the organization or companies mainly deal with PBL. The SOD, BG, Commercial House Building Loan are provided in corporate credit. In this department customers are much satisfied than retail credit department. The individual person also takes loan against their SOD, PMS, FDR account etc. To gain competitive advantage and to reach the 1st position in the banking sector they need to overcome their barriers. As Prime Bank Ltd. is one of the leading banks in Bangladesh it is providing a good service to the customers and contributing in the economic growth of our country. It’s different kind of product and services helping people to overcome their financial problem. The corporate banking and retail banking services providing a good effort in the progressing of the economy and the growth of organizations.