Prime Bank Ltd: Evaluation of customer service quality and ways of improvement

Abstract

The internship report is designed to bridge the gulf between the theoretical knowledge and real life experience. It is designed to have a practical experience while passing through the theoretical understanding. I had the opportunity to complete my internship in a reputed bank. This report is the result of three months internship program with Prime Bank Limited, Banani branch. Bank is an intermediary institution that makes relationship between the owner of surplus savings and the investors of deficit capital. As the demand for the better service increases day by day, banking process is becoming faster and easier and banks are coming up with different innovative ideas and products. As an intern, I have worked in the General Banking (GB) department and have learned to do tasks like Issuing of Cheque Book, Cheque receive, Maintaining IBCA register, Fund Transfer, Cheque Debit, TT (Telegraphic Transfer), Pay Order and some other related tasks. I have also gained some practical knowledge about LBC (Local Bills for Collection), OBC (Outward Bills for Collection), DD (Demand Draft), inward and outward clearing functions, various reasons of dishonoring of Cheques and different savings scheme offered by this bank. Customer service quality is very important for a bank as lots depend on this and to evaluate PBL's customer service quality I have prepared a questionnaire and have taken fifty respondents answers and used SPSS software to analyze their responses. According to the respondents, Prime Bank Limited is a reputed bank; however they have rated it as number two bank among six private commercial banks. This shows lacking in marketing efficiency that does not been able to create a positive image to customers mind. PBL can do some CSR (Corporate Social Responsibilities) to improve its image. It has sixty three branches across Bangladesh; of them forty one are online. Respondents argue that PBL should introduce online facility throughout all of its branches and also should train its employees so that they can provide more faster and accurate service. In addition, respondents demand that FDR interest rate should be increased as PBL offers lower interest rate than that of some other private commercial banks. Most of the respondents are happy with the behavior of GB employees of PBL. With all its resources, the management of the bank should seek more ways to improve customer service quality so that the bank can create good image among its customers which ultimately will help it to grow faster and stay ahead of competition.