Customer satisfaction survey of unsecured loan customers of BRAC Bank limited

Abstract

This report gives an overview of my working experience in “BRAC Bank Limited” (BBL) and the knowledge I have gained from the company. BRAC Bank intends to set standards as the Market leader in Bangladesh. It believes in providing efficient, friendly and modern full-service relying on a profitable basis. The main objective of the study is the analysis of customer satisfaction survey of Unsecured Loan customers of BRAC Bank Limited. BRAC Bank Ltd has two main divisions of operation—Corporate and Consumer Banking. Consumer Banking deals with retail banking services to customers. Under Retail Banking Division, I, as an intern, was working under the Unsecured Loan department. This department mainly provides loans to customers for a wide variety of purposes. Two main types of products of the unsecured Loan department are Salary Loans and Quick Loans. These are loans targeted to customers for individual needs. The main customers are salaried persons and Businessmen. The Unsecured loan portfolio is ever increasing. Direct Sales Officers of Unsecured Loans are always on the run to search for new customers. But an important factor is that whether with this ever-increasing number of customers, enough concern is being given to the satisfaction level of the customers. At present, there are several local and foreign banks offering similar loan products as BBL. Customers have increased scope for service level comparison between competing banks. This report was aimed at finding the level of customer satisfaction of the unsecured loan customers. A sample of customers of both the Salary and Quick loans were selected, and they were interviewed by questionnaire. Their responses were analyzed to get the present scenario of customer satisfaction in certain aspects. The research showed that customers of unsecured loan products nowadays complain about such matters as increased interest rates, complex documentation procedures, strict loan eligibility criteria, etc. But these measures have been taken in order to reduce the possibility if loan defaulting. What the result of this research did is it clearly pinpointed exactly what factors hamper customer satisfaction if the loan customers. Once identified, the factors that cause dissatisfaction can be reviewed, in order to restore the satisfaction level of the customers. This is extremely important if BRAC Bank Limited wants to maintain market leadership in Customer satisfaction.