Marketing of bank products: innovative suggestions for NCC Bank Ltd. (Foreign Trade)

Abstract

From being an investment company in 1985 to being one of the leading banks in the country, NCC Bank Ltd had a long and successful journey in the industry. With 14 board members, 1965 employees, and 117 branches, the bank is growing exponentially with every passing time. Being tied with 304 foreign banks helps the bank perform its foreign trade duties with utmost perfection. In this report, as I specifically worked in the foreign trade division, I talked about and gave some ideas on trade complications, balance of payments, letter of credit or documentary credit, guarantees of international banking, buyer’s credit and supplier’s credit, rules and regulations of foreign trade, different payment methods used in foreign trade, risks associated with foreign trade and marketing’s role in terms of promoting the entire process. In the banking sector, there is nothing or a very minor role in the marketing and promotion of the bank’s products as the clients don’t believe in marketing gimmicks when it comes to handling their money. Still, there are some areas like key objectives of an organization, stakeholder mapping, AIDA model, and valued customer concepts that can help the bankers create an intrinsic value of the offerings.