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“Customer Satisfaction of Banking Service A study on Jamuna Bank Limited”

1.1

Objective of the report:

Objective of the report is divided by two major points. They are1.1.1

Primary Objective: The primary objective of report is to identify or measure the satisfaction level of customer of Jamuna Bank.

1.3.2 Specific Objective: In the following statements the specific objective is given below1. To identify the customer perception and expectations regarding the delivery of service of Jamuna Bank Limited. 2. To measure the satisfactory perception of customers if they are satisfied or not. 3. To evaluate the service of Jamuna Bank Limited by identifying the customer satisfaction. 4. To find out the possible solution to eliminate the problem. 1.1.2

Data Sources: The factual data has been used by using primary and secondary sources. This two types of sources are given below-

1.1.2.1

Primary Sources: The primary sources are•

It has been taken a formal interview by virtue of questionnaire.

Experience gathered by working in different departments of the bank.


• 1.4.1.2

1.1.3

Personal Observation

Secondary Sources: •

Brochure of JBL.

Internet searching.

Leaflet.

Website addresses (WWW.Jamunabankbd.com).

Different publications regarding banking function. of JBL.

Methods of Data Collection:

The primary data for the research has been collected through questionnaire survey related to the research problem. The questionnaires were administered through personal interview. The secondary data was collected from reports published by the bank, web sites and books. 1.1.4

Nature of Questionnaire:

The questionnaire contained both close and open-ended questions. The questionnaire has been sorted into three parts. The first part was designed to collect the demographic information of the customers. The second part is associated with the types of services taken by the customers and reason to switch the previous bank. The last part of the questionnaire included questions specific to dimensions of the service quality of the bank 1.4.4 Technique of Scaling: Five-point Likert scale (1 for strongly disagree to 5 for strongly agree) has been used to measure the customer perceptions regarding the service quality. Cross tabulation method has been used to find out the relations between demography and satisfaction. 1.4.5 Sample Plan: The sample plan covers target population, sampling technique and sample size. These are the followings. 1.4.5.1 Target Population: The target population was the customers of the Principal branch, Sonargaon Road Branch, Dhanmondi Branch, Motijheel & Dilkhusha Branch of Jamuna Bank Limited. 1.4.5.2 Sampling Technique: The Non-Probability Convenience sampling technique was used to collect the desired data for the research.


1.4.5.3 Sample Size: The sample of the research was 50. 1.2 Data Collection: The data collection procedure for the survey took one and half of a month. The data was collected from the customer of the bank through the survey questionnaire. 1.3

Statistical Tool:

Followed the following steps to prepare the report: •

Defined the problem ( Assigned by Supervisor)

Planning the research design.

Planned the sample.

Gathered the data.

Processed and analyzed the data.

Formulated, concluded and prepared the report. 1.4

Research Limitation:

To make this report faced a lot of limitations. Despite the diligent efforts given in preparing the report, it succeeded only to skim through the surface of the ocean on this subject. Therefore the views expressed in this report are likely to be restricted by limitations. A number of limitations are associated while preparing the report. They are summarized below – •

Unavailability of data: Some vital information would have made this report more fruitful. But as those data were confidential in nature, it was not provide by the authority.

Deficiency in Sample size: Because of time and cost constraint it is not possible to conduct large number of borrowers for making more constructive.

Lack of interest: Customers are less interested to complete the questionnaire. Most of the customers were not interested to fill up the questionnaire.

1.8 List of Acronyms: SL

Short Form

Elaboration

01.

JBL

Jamuna Bank Limited

02.

LIM

Loan Against Imported Merchandise

03.

DD

Demand Draft


04.

PO

Pay Order

05.

TT

Telegraph Transfer

06.

OBC

Out Ward Bills for collection

07.

IBC

Inward Bills for collection

08.

SOD

Secured Overdraft

09.

CC

Cash Credit

10.

BP

Inland Bill purchase

11.

ECC

Export Cash Credit

12.

FDBO

Foreign Documentary Bill Purchase

13.

FDD

Foreign Demand Draft

14.

FTT

Foreign Telegraph Transfer

15.

TC

Travelers Cheaque

16.

E.g.

For Example

17.

i.e.

That is.

18.

CCS

Consumer Credit Scheme

19.

LRA

Landing Risk Analysis

20.

L/C

Letter of Credit

21.

CI&E

Chief Controller of import & Export

22.

D&B

Dun & Bradstreet

23.

PAD

Payment Against Document

24.

TL

Term Loans

25.

SWIFT

26.

NAV

Society for Worldwide Telecommunication Net Asset Value

27.

ROE

Return On Equity

28.

EPS

Earning Per Share

29.

ROA

Return On Asset

30.

IRC

Import Registration Certificate

31.

ERC

Export Registration Certificate

32.

SME

Small and Medium Enterprise

33.

SS

Sub Standard

34.

FDBP

Foreign Documentary Bills Payment

35.

LDBP

Local Documentary Bills Payment

Interbank

Financial


36.

OD

Over Draft

37.

PSP

Protirakkha Sanchay Patra

38.

BSP

Bangladesh Sanchay Patra

39.

MPPS

Monthly Payable Profit Scheme

40.

TBDS

Triple Benefit Deposit Scheme

41.

MSS

Monthly Savings Scheme

42.

TIN

Tax Identification Number

43.

CRG

Credit Risk Grading

44.

FI

Financial Institution

2.1 History of the Jamuna Bank: Jamuna Bank Limited (JBL) is a banking company registered under the companies Act, 1994 with its Head Office at Chini Shilpa Bhaban, 3 Dilkusha C/A, Dhaka-1000. The Bank started its operation from 3rd June 2001. The Bank undertakes all types of banking transactions to support the development of trade and commerce of the country. JBL’s services are also available for the entrepreneurs to set up new ventures of industrial units. Jamuna Bank Ltd the only Bengali named new generation private commercial bank was established by a group of winning local entrepreneurs conceiving an idea was creating a model banking institution with different outlook to offer the valued customers, a comprehensive range of financial services and innovative products for sustainable mutual growth and prosperity. The sponsors are reputed personalities in the field of trade, commerce and industries The Bank is being managed and operated by a group of highly educated and professional team with diversified experience in finance and banking. The Management of the bank constantly focuses on understanding and anticipating customers needs. The scenario of banking business is changing day by day, so the banks responsibility is to device strategy and new products to cope with the changing environment. Jamuna Bank Limited has already achieved tremendous progress within only eight years. The Bank has already ranked as one of top quality service providers and is known for its reputation. At present the bank has real time centralized Online banking branches ( Urban and Rural) throughout the Country having smart IT-Backbone. Besides these traditional delivery points, the bank has ATM card of its own, sharing with other partner banks and Consortium the country. The operation hour of the bank is 10.00 A.M. To 6:00P.M. from Sunday to Thursday with transaction hour from 10.00 A.M. To 4.00. The Bank remains closed on Friday including governments holidays.


The scenario of banking business is changing day by day, so the bank's responsibility is to devise strategy and new products to cope with the changing environment. JBL has already achieved tremendous progress within only Seven years. The bank has already ranked at top of the quality service providers & is known for its reputation. JBL is now trying to widen its periphery by targeting all the potential sectors. With an extensive range of financial products and services day by day the bank is committed to provide high quality financial services/products to contribute to the growth of GDP of the country through stimulating trade & commerce, accelerating the pace of industrialization, boosting up export, creating employment opportunity for the educated youth, poverty alleviation, raising standard of living of limited income group and over all sustainable socio–economic development of the country. 2.2 Organization Structure of Jamuna Bank:

Managing Director Deputy Managing Director Senior Executive vice President Senior Vice President Executive Vice President Vice President Senior Assistant Vice President Assistant Vice President First Assistant Vice President Junior Assistant Vice President Senior Executive Officer Executive Officer First Executive Officer Officer


Junior Officer

2.3 Mission Vision and Objective: Mission of Jamuna Bank: The bank committed to satisfying diverse needs of its customers through an array of products at a competitive price by using appropriate technology and providing timely service so that a sustainable growth, reasonable return and contribution to the development of the country can be ensured with a motivated and professional work-force. (Source:http://www.jamunabankbd.com/profile/mission.htm) Vision of Jamuna Bank: To become a leading banking institution and to play a pivotal role in the development of the country and service so that sustainable growths, reasonable return and contribution to the development of the country can be ensured with a motivated and professional work-force. (Source: http://www.jamunabankbd.com/profile/mission.htm) Objectives of JBL: •

The following objectives are set for JBL:

To earn and maintain CAMEL Rating “Strong”.

To establish relationship banking and improve service quality through development of Strategic Marketing Plans.

To remain one of the best banks in Bangladesh in terms of profitability and assets quality.

To introduce fully automated systems through integration of information technology.

To ensure an adequate rate of return on investment.

To ensure optimum utilization of all available resources.

To pursue an effective system of management by ensuring compliance to ethical norms, transparency and accountability at all levels.

(Source: http://www.jamunabankbd.com/profile/objectives.htm) Strategies of JBL: •

To raise the Paid–up Capital and Statutory Reserve Fund i.e. Regulatory Capital up to Tk.2000.00 million by June, 2009


To manage and operate the Bank in the most efficient manner to enhance financial performance and to control cost of fund.

To strive for customer satisfaction through quality control and delivery of timely services.

To identify customers' credit and other banking needs and monitor their perception towards our performance in meeting those requirements.

To review and update policies, procedures and practices to enhance the ability to extend better service to customers.

To train and develop all employees and provide them adequate resources so that customers' needs can be reasonably addressed.

To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to employees in a timely fashion.

To cultivate a working environment that fosters positive motivation for improved performance.

To diversify portfolio both in the retail and wholesale market.

To increase direct contact with customers in order to cultivate a closer relationship between the bank and its customers

(Source: http://www.jamunabankbd.com/profile/strategies.htm) Corporate Culture: Employees of JBL share certain common values that help to create a JBL Corporate culture. •

The client comes first.

Search for professional excellence.

Openness to new ideas and new methods to encourage creativity.

Quick but proper decision making.

Flexibility and prompt response.

A sense of professional ethics(Source: (Source:http://www.jamunabankbd.com/profile/culture.htm)

Corporate Slogan: “Your Partner for Growth” (Source: http://www.jamunabankbd.com/profile/culture.htm)


Corporate Governance: The organizational structure and corporate governance of JBL reflect the determination to establish, sustain and increase its strength for a strong base as a customer–oriented bank with a transparent management.. (Source: http://www.jamunabankbd.com/profile/culture.htm) Board of Directors: The Board of Directors is the supreme body of the Bank. The Board of Directors consists of 16(Sixteen) members, out of which 13(thirteen) members are elected from the shareholders and the remaining member is the Managing Director who is appointed as the Chief Executive Officer of the Bank. SL

Name

Status

01.

Al-Haj Md. Rezaul Karim Ansari

Chairman

02.

Gazi Golam Murtoza

Vice Chairman

03

Al-Haj M. A. Khayer

Director

04.

Engr. A. K. M. Mosharraf Hussain

Director

05.

Engr. Md. Atiqur Rahman

Director

06.

Golam Dastagir Gazi (Bir Protik)

Director

07.

Fazlur Rahman

Director

08.

Al-Haj Nur Mohammed

Director

09.

Md. Tajul Islam

Director

10.

Sakhawat, Abu Khair Mohammad

Director

11.

Md. Belal Hossain

Director

12.

Md. Mahmudul Hoque

Director

13.

Md. Sirajul Islam Varosha

Director

14.

Farhad Ahmed Akand

Director

15.

S. M. Abdul Halim

Independent Director

16.

Md. Motior Rahman

Managing Director

(Source:http://www.jamunabankbd.com/profile/Director%20Related%20Information.pdf) Branches and Employees of Jamuna Bank Limited:


As far the Bank has established as many as 39(thirty nine) Branches throughout the country and made online network among those Branches. This information is collected from the report "C redit Risk Management of Jamuna Bank Limited". Jamuna Bank Limited has 805 (Eight Hundred Five) employees. Region

No of Branches

(As per Administrative Division of Bangladesh) Dhaka

20

Chittagong

11

Rajshahi

07

Sylhet

03

Comilla

02

Barisal

01

Khulna

01

Total

45

Table: Branches of Jamuna Bank Limited Divisions of JBL Head Office: In order to perform the operations of the Bank properly in an organized means and ways the Head Office of the Bank has been segmented in different Divisions.

The Head Office Divisions of the Bank are as follows : Board Secretariat M.D.’s Secretariat Human Resources Division Credit Division


Credit Administration Division Credit Legal & Recovery Division Corporate Division International Division Financial Administration Division General Banking Division Personal Banking Division System & Operations Division Information Technology Division Internal Control & Compliance Division Treasury & Fund Management Division Public Relationship Division Share Division

2.4 Service/Product of the company:

(Source: (Source:http://www.jamunabankbd.com/profile/product.htm)

Corporate Banking: The motto of JBL’s Corporate Banking is to provide personalized solutions to their customers. The Bank distinguishes and identifies corporate customers need and designs tailored solutions accordingly. Jamuna Bank Limited offers a complete range of advisory, financing and operational services to its corporate client groups combining trade, treasury, investment and transactional banking activities in one package. Whether it is project finance, term loam, import or export deal, a working capital requirement or a forward cover for a foreign currency transaction, their Corporate Banking Managers


will offer us the accurate solution. Their Corporate Banking specialists will high class service for speedy approvals and efficient processing to satisfy customers needs. Corporate Banking business envelopes a broad range of business and industries. They can leverage on our know-how in the following sectors mainly: •

Agro Processing Industry

Industry ( Import Substitute/ Export Oriented) 1. Textile Spinning Dyeing/Printing 2. Export Oriented Garments, Sweater 3. Food & Allied 4. Paper & paper products 5. Engineering, Steel Mills 6. Chemical Products

Telecommunications

Information Technology

Real Estate & Construction

Wholesale Trade

Transport Hotels, Restaurant

Non Bank Financial Institutions

Loan Syndication

Project Finance

Export Finance

Import Finance

Personal Banking: Personal Banking Division (PBD) introducers to the customers with a variety of products. Their PBD continuously meets the challenges of developing new products and services to match the specific requirements of customers. Personal Banking Division (PBD) issues both VISA Debit Card and VISA Credit Card. VISA is the renowned card brand in the earth. Jamuna Bank is a principal member of VISA worldwide. Remittance sell is another successful wing of the Personal Banking Division. Their product range includes:


Visa Debit Card: Anyone can now avail the convenience of VISA Debit Card. It is the easiest and the most secured way of utilizing clients more for 24/7 retail purchases as well as cash withdrawal. Visa Credit Card: The JBL Credit Card gives us a fast, convenient and reliable way to pay, 24 hours a day, wherever we are in the world. VISA Classic VISA Gold International Credit Card- JBL International Credit Cards (VISA) allows us flexibility and convenience when we travel internationally. The VISA International card entitles us to exclusive discounts worldwide VISA Dual (Gold) JBL Remittance Cell – “Remit Fast” is the motto of JBL Remittance Cell. It provides the best & fAster service to its customers and connects the world through the renowned money exchange agencies, Such as Placid NK Corporation, Money gram Payment System Inc, Raffles Exchange Ltd UK, Homelink Remit (UK) Ltd, Rumana Money Services. Customers can avail improved pricing on remittance. Bank Transfer Instant Cash Spot Cash

To offer their customers a greater banking convenience, they have introduced many modern banking facilities and some are under developments that include: With their large ATM network including non-branch ATM across the country they have the privilege of round the clock withdrawal and other account services at their convenience. Customer can enjoy higher ATM withdrawal limit each day.


No fees on retail purchase and can use their Credit Cards at thousands of retail outlets around the world. There will be no commission charge on the endorsement of foreign currency for self and spouse. Their customer service agents are available on 365 days to offer assistance for us. Just connects to their agents and satisfy their banking needs anytime of a day or any query that we might have. International Trade: International trade forms the major business activity undertaken by Jamuna Bank Limited. The Bank with its worldwide correspondent network and close relationships with key financial institutions provides and expensive trade services network to handle their transactions efficiently. Their key branches in Dhaka, Chattagong, Sylhet and Naogaon are staffed by personnel experienced in International Trade Finance. These offices are the focal point for processing Import and Export transaction for both small and large corporate customers. They offer a complete range of Trade Finance Services. Their professionals will work with us to develop solutions tailored to meet our requirements, through mobilizing out full rage of trade services locally, and drawing on our global resources. They can offer us professional advice on all aspects of International Trade requirements namely: •

Issuing advising and confirming of Documentary Credits

Pre-shipments and post-shipments finance

Negotiation and purchase of Export Bills

Discounting of Bills of Exchange

Collection of Bills, Assists customers to insure all risks.

Foreign Currency Dealing etc

List of Foreign Correspondents: To provide international trade related services they have established Correspondents Banking relationship with 336 location of 106 world reputed Banks in more than 100 countries. Their main Correspondent Banks are: 1. City Bank NA 2. Standard Chartered Bank


3. American Express Bank 4. Bank of New York 5. Bank of Nova Scotia 6. Duetche Bank 7. Dresdner Bank AG 8. Habib American Bank 9. Habib Bank AG Zurich 10. Bayerische Hypo Vareins Banks 11. Mashreq Bank PSC 12. Nordea Bank AB 13. Royal Bank of Canada 14. UBS AG 15. Union De Banques Arabes ET 16. Francaises 17. Wachovia Bank NA 18. Forties Bank S.A/NV 19. Bank of Ceylon 20. Banca Toscana 21. ABN Amro Bank 22. Commonwealth Bank of Australia 23. Danske Bank A/S 24. Agricultural Bank of China 25. Banca Intesa SPA 26. Banca Italo Albanese 27. Bank Popolare Commercio E Industria SPA 28. Bank Austria Credittanstal AG 29. Bank Commonwealth 30. Bank of Cyprus 31. Bank of Bahrain and Kuwait 32. Bank of Jordan Ltd 33. Bank Sadarat Iran 34. Blue Nile Bank 35. Commercial Bank of Kuwait 36. Commercial Bank of Qatar Ltd 37. Development Bank of Philippines 38. Dexia bank SA 39. EON bank Berhad


40. First International Merchant Bank PLC 41. Foreign Trade bank of North Korea 42. Foreign Trade Bank of Vietnam 43. Hiroshima Bank 44. Hungary RT 45. ICICI Bank Canada 46. Industrial and Commercial Bank of China 47. ING Bank NV 48. Islamic Bank of Yemen and for Finance 49. Korea Exchange Bank 50. National Commercial Bank 51. Shinhan Bank 52. State Bank of India 53. United Bank of India 54. Bank of Bhutan 55. Allied Bank Philippines Foreign Remittance: Jamuna Bank Ltd has a network of 19 branches in Bangladesh and four more branches are going to be added to network soon. Remittance services are available at all branches and foreign remittances may be sent to any branch by the remitters favoring their beneficiaries. Remittances are credited to the account of beneficiaries instantly through Electronic Fund Transfer (EFT) mechanism or within shortest possible time. Jamuna Bank Ltd has correspondent banking relationship with all major banks located in almost all the countries/cities. Expatriate Bangladeshis may send their hard earned foreign currencies through those banks or may contact any renowned banks nearby (where they reside/work) to send their money to their dear ones in Bangladesh. To facilitate sending money in Bangladesh Taka directly, Jamuna Bank Ltd has Taka Drawing Arrangement with many banks/exchange companies in different countries. The expatriate Bangladeshis may send their money in BDT through the branches/subsidiaries of Jamuna Bank Ltd. As usual the product and service mix of a Bank can be segmented in 03(three) broad categories. They are given belowA. Deposit Related Products and Service B. Credit Related Products and Service C. Electronic Related Products and Service


Money Transfer: Joining with one of the world renowned money transfer service “Money Gram”, JBL has introduced its customers to the faster track of remittance. Now JBL can bring money in Bangladesh from any other part of the globe in safer and faster means than ever before. Corporate Banking Service: JBL offers a complete range of advisory, financing and operational services to its corporate client groups combining trade, treasury, investment and transactional banking activities in one package. Its corporate Banking specialists will render high class service for speedy approvals and efficient processing to satisfy customer needs.

Corporate Banking business envelops a broad range of

businesses and industries. Customers can leverage on JBL’s know–how in the following sectors mainly: Source: Credit Risk Management of Jamuna Bank Limited http://www.jamunabankbd.com/profile/Corporate Banking.htm) 2.5 Market National and International: Jamuna Bank Limited (JBL) is a Banking Company registered under the Companies Act, 1994 with its Head Office at Chini Shilpa Bhaban, 3, Dilkusha C/A, Dhaka-1000. The Bank started its operation from 3rd June 2001. The Bank undertakes all types of Banking transactions to support the development of trade and commerce of the country. JBL's services are also available for the entrepreneurs to set up new ventures and BMRE of industrial units. Jamuna Bank Ltd., the only Bengali named new generation private commercial bank was established by a group of winning local entrepreneurs conceiving an idea of creating a model banking institution with different outlook to offer the valued customers, a comprehensive range of financial services and innovative products for sustainable mutual growth and prosperity. The sponsors are reputed personalities in the filed of trade, commerce and industries.


The Bank is being managed and operated by a group of highly educated and professional team with diversified experience in finance and banking. The Management of the bank constantly focuses on understanding and anticipating customers needs. The scenario of banking business is changing day by day, so the bank's responsibility is to device strategy and new products to cope with the changing environment. Jamuna Bank Ltd. has already achieved tremendous progress within only eight years. The bank has already ranked as one of top quality service providers & is known for its reputation. At present the Bank has real-time centralized Online banking branches (Urban & Rural) throughout the Country having smart IT-Backbone. Besides these traditional delivery point, the bank has ATM of its own, sharing with other partner banks & Consortium throughout the Country.

http://www.firstglobalselect.com/scripts/cgiip.wsc/globalone/htm/quote_and_news.r?pisharetypeid=31465 "Jamuna Bank, a leading private commercial bank has been playing vital role in treasury operations of the country's banking arena. The bank is equipped with a very sophisticated treasury rooms and a number of talent young dealers who contributed nearly 40 per cent of its profits which was recorded Tk 2.54 billion in 2010, compared to Tk 2.02 billion in 2009," the bank said in a statement. Terming the central bank recognition as an 'encouragement toward further improvement', Mirza Elias Uddin Ahmed, Senior Executive Vice President and Head of Treasury of Jamuna Bank Ltd said this is the first recognition for the primary dealers in Bangladesh who are trying to develop a sound, efficient and vibrant secondary market for government securities. Currently 12 banks and 2 financial institutions have primary dealership and have formed association named as primary dealers Bangladesh limited (PDBL). The other PDs are Sonali Bank, Janata Bank, Agrani Bank, Jamuna Bank, NCC Bank, Prime Bank, National Bank, Uttara Bank, Southeast Bank, Mutual Trust Bank, AB Bank, Mercantile Bank, Lanka Bangla Finance and Industrial Promotion and Development Corporation(IPDC).

Bangladesh Bank has selected NCC Bank as the second best primary dealer in Bangladesh while other banks and FIs failed to meet the requirements during the period. "Today's treasury environment is more challenging than ever. But Jamuna Bank could overcome the difficulties due to prudent guidance of our managing director who is also expert in crucial fund management, said Elias Uddin Ahmed, who is also the former chairman of PDBL Technical Committee and Secretary General of Bangladesh Money Market Dealers' Association (BAMDA).


"If the central bank extends its policy supports to us, we would very soon develop a secondary market for government securities and bonds which would excelerate the development activities of the country", he said. Jamuna Bank started its journey in 2001 with a paid up capital of Tk 400 million and obtained primary dealership in 2003. Excellent management performance, prudent credit policy and higher returns of quality assets helped the bank to stand on a sound financial footing. In 2009, the bank declared 23.50% dividend to its shareholders while its capital shot up to Tk 1.62 billion. Primary dealers are market maker of government securities and able to make business deals with the Bangladesh Bank. They purchase the majority of treasuries at auction and then redistribute them to their clients, creating the initial market in the process. Such dealers must meet certain liquidity and quality requirements. Primary dealer systems are present in many countries including India, Malaysia, Canada, France, Italy, Spain, the United Kingdom, and the United States. Many former employees of primary dealers work at the Treasury, because of their expertise in the government debt markets. Source: http://www.thefinancialexpress-bd.com/more.php?news_id=127975


2.6 Performance Over the Year:

In the following statements the previous three years performance

is given below: Particulars Cash : Cash in hand (including foreign currency) Balance with Bangladesh Bank & its agent banks (including foreign currency) Balance with Other Banks & Financial Institutions In Bangladesh Outside Bangladesh Money at Call on Short Notice : Investments : Government Others Loans & Advances : Loans, Cash Credit, Over Drafts, etc. Bills Purchased & Discounted Fixed Assets including Premises, furniture & fixtures : Other Assets TOTAL PROPERTY & ASSETS Borrowing from B.B., Other Banks, Financial Institutions & Agents : Deposits & Other Accounts : Current Accounts & Other Accounts Bills Payable Savings Bank Deposits Fixed Deposits Bearer Certificates of Deposit Short Term Deposits Deposits under Special Schemes Foreign Currency Deposit Other Liabilities : TOTAL LIABILITIES Paid–up Capital : (1,22,57,142 Ordinary Shares of Taka 100/– each) Share Premium : Statutory Reserve : Revaluation Reserve : Surplus Profit & Loss A/c : TOTAL SHAREHOLDERS’ EQUITY TOTAL LIABILITIES EQUITY

&

SHAREHOLDERS’

Year– 2009 1864.96 357.87 1507.09

Year– 2008 1379.17 412.51 966.66

Year–2007

2343.45 1999.45 343.99 50.00 4238.63 4185.46 33.17 21036.86 18917.46 2119.40 609.02

1877.15 1575.49 301.66 120.00 5390.03 5346.42 43.61 16617.45 14565.24 2052.21 174.40

2441.76 2171.72 270.04 555.00 2552.67 2286.64 266.03 12796.63 10578.09 2218.54 137.36

1503.71 31646.63 396.12

847.20 26405.40 2298.93

515.00 20157.02 618.35

27307.94 3283.21 412.03 1679.40 16360.18 --1335.16 4131.80 106.16 1781.84 29484.90 1313.27

20924.02 2625.67 354.44 1407.32 13125.13 --833.81 2525.08 52.57 1525.96 24748.91 1225.71

17284.81 2088.47 169.80 1084.01 11804.01 --636.88 1470.29 31.36 691.39 18594.55 1072.50

--503.84 29.71 313.92 2160.73

85.80 330.68 4.91 9.39 1656.49

85.80 249.67 --154.50 1562.47

31646.63

26405.40

20157.02

1158.60 225.30 933.30


2.7 Analysis of Performance of the Company: The analysis of Jamuna Bank Limited is given below: Source: Credit Risk Management of Jamuna Bank Limited HIGHLIGHTS OF JAMUNA BANK LIMITED Amount in Taka ( Except ratio) Sl.No. Particulars

2009

1

Paid up Capital

1,313,265,200 582,214,200

2

Total Capital

2,444,338,501 1,872,719,991

3

Capital surplus/(deficit)

392,695,301

4

Total Assets ( excluding off balance sheet items)

31,646,629,499 26,405,404,056

5

Total Deposits

27,307,936,141 20,924,021,090

6

Total Loans & Advances

21,036,861,012 16,617,450,517

7

Total Contingent Liabilities & Commitments

9,169,471,638 6,409,260,234

8

Advance Deposit Ratio

77.04%

79.42%

9

% of classified loans against Total Loans

2.84%

5.06%

10

Profit after taxation

479,437,923

89,110,861

11

Amount of classified loans

598,309,000

840,339,000

12

Provision kept against Classified loan

296,285,000

518,852,491

13

Provision surplus / deficit

-

-

14

Cost of Fund ( Deposit cost & overhead cost)

12.49%

12.26%

15

Interest Earning Assets

27,668,329,466 24,004,627,748

16

Non-interest earning Assets

3,978,300,033 2,400,776,308

17

Return on Assets (ROA)

1.51%

0.34%

18

Return on Investment (ROI)

16%

8.80%

19

Income from Investment

666,152,122

474,482,522

20

Earning per Share (Taka)

36.51

7.27

21

Net Earning per Share ( Taka)

38.21

8.04

22

Price Earning Ratio ( Times)

6.98

53.61

23 Net Asset Value ( Taka) 164.53 2.8 Analysis of Strengths and Weakness(SW) of the Company:

2008

364,612,891

135.14

SW Analysis of Jamuna Bank Limited: In the following statements the SWOT analysis are given below:-


1. Sound profitability and growth with good internal capital generation. 2. Larger corporate client base. 3. Experienced and efficient management team and human resource. 4. Quality product and services. 5. Better infrastructure facilities 6. Company reputation and goodwill.

1. Small market share. 2. Limited branch network. 3. High concentration on fixed deposits and large scale loans. 4. Lack of full scale automation.

2.9 Find Out the Opportunity and Threats of the Company:


In the following statements the Opportunity and Threats of the Jamuna Bank Limited is given below-

1. Scope of market penetration through diversified products. 2. Automation of transaction processes and online branch banking. 3. Government's policy of encouraging heavy inflow of foreign investment. 4. Regulatory environment favoring private sector development. 5. Value addition in products and services, 6. Increasing purchasing power of people. 7. Increasing trend in international business. 8. It is a great phenomenon is that Shahjalal Islami Bank Limited goes ahead in future and they done their corporate social responsibility.

1. Increased competition for market share in the industry. 2. Frequent changes of banking rules by the Central Bank. 3. Market pressure for lowering of lending rate. 4. National and global political unrest. 5. Default culture of credit.


2.10 Specific strategies to improve the organizational effectiveness: In the following statements the strategies are given below1. To manage and operate the bank (JBL) in the most efficient manner to enhance financial performance and to control cost of fund. 2. To strive for customer satisfaction through quality control and delivery of timely services. 3. To identify customers credit and others banking needs and monitor their perception towards our performance in meeting those requirements. 4. To review and update, policies, procedures and practices to enhance the ability to extend better services to customers. 5. To train and develop all employees and provide them adequate resources so that customers needs can be reasonably addressed. 6. To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to employees in a timely fashion. 7. To cultivate a working environment that fosters positive motivation for improved performance. 8. To diversify portfolio both in the retail and wholesale market. 9. To increase direct contact with customers in order to cultivate a closer relationship between the bank and its customers.


3.1 Title of the Project: The title of my project is “Customer Satisfaction of Banking Service- A study on Jamuna Bank Limited”.

3.2 Problem Statement: Every project has a Problem Statement. Similarly my project also has a problem statement. My problem statement is “Customer Satisfaction”. Actually I want to identify their satisfaction level. Either they are satisfied or not?

3.3 Literature Review: Customer satisfaction is generally defined as a feeling or judgment by customers towards products or services after they have used them. Customer satisfaction in service industries has been approached in two ways; satisfaction as a function of disconfirmation, and as a function of perception. However, to avoid the debate surrounding the nature of the expectation concept in measuring customer satisfaction, this research has followed an alternative approach, which initially depended on customers’ actual evaluations of satisfaction, rather than on the gap between perception and expectations. Achieving customer satisfaction is a vital target for most service firms today as it leads to improved profits, word-of-mouth, and less marketing expenditure. Many empirical studies in the literature have found a positive relationship between customer satisfaction and financial performance However, the authors found no studies pertaining specifically to financial institutions. Accordingly, this study will also contribute to knowledge by investigating this relationship within the automated service quality and banking context. Thus we can say that in an automated banking service context, customer satisfaction is positively related to financial performance. 3.4 Objectives: The main objective of my report is to identify or measure the satisfaction level of customer of Jamuna Bank. Then identification the customer perception and expectations regarding the delivery of service of Jamuna Bank Limited. After that measurement the satisfactory perception of customers if they are satisfied. At last identification the specific problem. Solve the possible solution the elimination of the problem. 3.5 Methodology: My study was based on both primary as well as secondary information. The method of collecting primary data was mostly limited to formal and informal interviewing. Basically the methodology is constructed by following ways-


It has been taken a formal interview by virtue of questionnaire.

Experience gathered by working in different departments of the bank.

Personal Observation

The factual information is taken by Customers.

Frequency Distribution: It refers a set of data organized by summarizing the number of times a particular value of a variable occurs. Targeted sample size as 50. My main objective is to know about customer satisfaction of Jamuna Bank Ltd. By using descriptive analysis and frequency distribution, can assume about the total population. Those are given descriptively and graphically as follows: 1. Gender of the Respondent-

Valid

Frequency

Percent

Male

41

82.0

Female

9

18.0

Total

50

100.0

Table: Gender of the respondent Among the 50 respondents 41(82%) customers are Male and 9(18%) customers are Female and they also have the account of the Jamuna Bank Limited.

Figure: Gender of the respondent The chart shows that most of the customers are Male and the few of customers are Female in Jamuna Bank Limited.


2. Education of the respondent-

Valid

Frequency

Percent

HSC

15

30.0

Graduate

15

30.0

Post Graduate

20

40.0

Total

50

100.0

Table: Education of the respondent And among the 50 customers 20 customers are respectively Post Graduate. And among the respondents 15 customers are graduates and 15 customers are passed the HSC. The table represents educational qualifications of the respondents.

It is evident from the chart that most of the customers are Post Graduate (40%). After that two types of customer are equal. They are HSC (30%) level and the Graduate level(30%).


3. Profession of the respondent-

Valid

Frequency

Percent

Private Service

21

42.0

Govt. Service

1

2.0

Business

21

42.0

Student

6

12.0

others

1

2.0

Total

50

100.0

Table: Profession of the respondent Among the respondents, most of the customers are employed in the private organizations. 21(42%) of 50 customers job in private sector. And also the customer are involved with the business sectors 21(42%). A few of them are mid and top level managers. Most of them are small and medium entrepreneurs. 6 customers are student 06(12%), The Govt.Service holder 1(2%) and the others 1(2%) like housewives, lower level service holders ect and they involves with others professions

Figure: Profession of the respondent It is evident form the graph the most of the respondents are Private Service Holder 21(42%) and the Businessman 21(42%). Then 6 respondents are student 06(12%). The Govt.Service holder 1(2%) and the others 1(2%) like housewives, lower level service holders ect and they involves with others professions.


4. Income range of the respondent-

Valid

Frequency

Percent

Below 10000

6

12.0

10000-20000

13

26.0

21000-30000

16

32.0

Above 30000

15

30.0

Total

50

100.0

Table: Income range of the respondent From 50 sample size found that the highest number of respondent are 16(32%). So biggest customer group are between (21000-30000) income range. Then 15(30%) respondents incomes are Above 30000. After that 13(28%) respondents incomes are 10000-20000. And the lowest 06 (12%) respondents incomes are Below 10000. The ratio of the different income ranges are shown on following Graphs.

Figure: Income range of the respondent From the graph it can write that that the highest number of respondent are 16(32%). So biggest customer group are between (21000-30000) income range. Then 15(30%) respondents incomes are Above 30000. After that 13(28%) respondents incomes are 10000-20000. And the lowest 06 (12%) respondents incomes are Below 10000. The ratio of the different income ranges are shown on the above Graphs.


5. The appearance of the banks physical facilities, equipment, personnel & communication materials are-

Valid

Frequency

Percent

Impressive

27

54.0

Average

20

40.0

Unimpressive

3

6.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 1.52 1.00 .614

Table: The appearance of the bank physical facilities, equipment, personnel & communication materials Mean is 1.52 which specify that respondents are "Impressive" on physical facilities, equipment, personnel & communication materials. As per descriptive analysis can say that Mode is 1.00, which indicate that greater parts are "Average" with the response. Standard Deviation is 0.614 that means there are little differences along with the respondents' responses. Consequently I can say that responses are close to the mean.


Figure: The appearance of the bank physical facilities, equipment, personnel & communication materials

The chart shows that 27 respondents are impressive (54%) about appearance of the bank facilities. Then 20 respondents customers are Average (40%). And the rest of the respondents 3 are Unimpressive (6%). 6. Materials associated with the service (Pamphlets or Statements ) are‌

Valid

Frequency

Percent

Appealing

23

46.0

Average

15

30.0

Unappealing

12

24.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 1.78 1.00 .81541


Table: Materials associated with the service (Pamphlets or Statements) Mean is 1.78 which specify that respondents are "Appealing" on materials associated with the service (pamphlets or statements). As a descriptive analysis I can say that Mode is 1.00, which indicates that greater parts are "Average" with the response. Standard Deviation is 0.81541 that means there are little differences along with the respondents' responses.

Figure: Materials associated with the service (Pamphlets or Statements)

The chart shows that 23 respondents are Appealing (46%) about materials associated with the service (Pamphlets or Statements). Then 15 respondents are Average (30%). And 12 respondents are Unappealing (24%) about the materials. 7. The knowledge and courtesy of the banks employees is-

Valid

Frequency

Percent

Satisfactory

40

80.0

Average

5

10.0

Dissatisfactory

5

10.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 1.3000 1.00 .64681


Table: The knowledge and courtesy of the banks employees Here Mean is 1.30 which prove that respondents are "Satisfactory" on knowledge and courtesy of the bank’s employees. Mode is 1.00, which indicates that majority parts are "Average" with the response. Standard Deviation is 0.64681 that means there are differences along with the respondents' responses.

Figure: The knowledge and courtesy of the banks employees It is evident from the chart that 40 respondents that means most of the respondents are Satisfactory (80%) about knowledge and courtesy of the bank’s employees. Then 05 respondents are Average (10%). And the rest of the respondent 05 are Dissatisfactory (10%) about the employees knowledge and courtesy of the bank. 8. Their ability to convey trust and confidence to the customers is-

Valid

Frequency

Percent

Adequate

30

60.0

Average

15

30.0

Inadequate

5

10.0

Total

50

100.0


N Mean Mode Std. Deviation

Valid Missing

50 0 1.50 1.00 .677

Table: Their ability to convey trust and confidence to the customers Here found Mean is 1.50 which specify that respondents are "Adequate" on ability to convey trust and confidence to the customers. Mode is 1.00, which indicates that majority parts are "Average" with the response. Standard Deviation is 0.677 that means there are differences along with the respondents' responses.

Figure: Their ability to convey trust and confidence to the customers It is evident from the chart that 30 respondents that means most of the respondents are Adequate (60%) about ability to convey trust and confidence to the customers. Then 15 respondents are Average (30%). And the rest of the respondent 05 are Inadequate (10%) about the employees knowledge and courtesy of the bank.


9. The number of the delivery points branches are-

Valid

Frequency

Percent

Sufficient

27

54.0

Neutral

11

22.0

Should be increased

12

24.0

Total

50

100.0

N

Valid Missing

Mean Mode Std. Deviation

50 0 1.7000 1.00 .83910

Table: The number of the delivery points branches Mean is 1.70 which indicate that respondents are "Sufficient" about the numbers of the delivery points branches of Jamuna Bank. Mode is 1.00, which indicates that few number of respondents are "Neutral" with the response. Standard Deviation is 0.839 that means there are differences along with the respondents' answers.

Figure: The number of the delivery points branches


The chart shows that 27 respondents are Sufficient (54%) about the numbers of delivery points/ branches of JBL. Then 11 respondents are Neutral (22%). And the rest of the respondent 12 thought the branch should be increase (24%)


10. The bank has the ability to perform the promised service dependably-

Valid

Frequency

Percent

Strongly Disagree

6

12.0

Disagree

2

4.0

Neutral

9

18.0

Agree

22

44.0

Strongly Agree

11

22.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 3.6 4.00 1.22

Table: The bank has the ability to perform the promised service dependably Here Mean is 3.60 which indicate that respondents are "Satisfied" to receive the ability to perform the promised service dependably. Mode is 4.00, which indicates that few number of respondents are "Agreed" with the response. Standard Deviation is 1.22 that means respondents response is not fluctuate. Accordingly it can say that responses are close to the mean.

Figure: The bank has the ability to perform the promised service dependably


The chart shows that the highest 22 respondents are Agree (44%) to take the promised service dependably of Jamuna Bank Limited. Then 11 respondents are Strongly Agree (22%). After that 9 respondents commends Neutral (18%). Then 6 respondents are Strongly Disagree (12%) that means they does not satisfy to see the promised service of this bank. The lowest 2 respondents are Disagree (04%). 11. The bank has sufficient motivation to help customers and provide prompt service-

Valid

Frequency

Percent

Strongly Disagree

2

4.0

Disagree

3

6.0

Neutral

8

16.0

Agree

22

44.0

Strongly Agree

15

30.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 3.90 4.00 1.035

Table: The bank has sufficient motivation to help customers and provide prompt service Here Mean is 3.90 which indicate that respondents are "Satisfied" to take sufficient motivation to help customers and provide prompt service. Mode is 4.00, which indicates that few number of respondents are "Agreed" with the response. Standard Deviation is 1.03 that means there is tiny gape among the respondents response. For that reason it can say that responses are close to the mean.


Figure: The bank has sufficient motivation to help customers and provide prompt service The chart shows that the highest 22 respondents are Agree (44%) to take sufficient motivation to help customers and provide prompt service. Then 15 respondents are Strongly Agree (30%). After that 8 respondents commends Neutral (16%). Then 03 respondents are Disagree (06%) that means they does not satisfy take sufficient motivation to help customers. The lowest 2 respondents are Disagree (04%). 12. The bank provides accurate and timely information about remittance service-

Valid

Frequency

Percent

Strongly Disagree

2

4.0

Disagree

4

8.0

Neutral

7

14.0

Agree

20

40.0

Strongly Agree

17

34.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 3.92 4.00 1.0849


Table: The bank provides accurate and timely information about remittance service Here found Mean is 3.92 which prove that respondents are "Satisfied" to take accurate and timely information about remittance service. Mode is 4.00, which indicates that few numbers of respondents are "Agreed" with the response. Then Standard Deviation is 1.08 that means respondents responses are not fluctuate. Accordingly it can say that responses are close to the mean.

Figure: The bank provides accurate and timely information about remittance service

It is evident from the chart that the highest 20 respondents are Agree (40%) to take accurate and timely information about remittance service. Then 17 respondents are Strongly Agree (34%). After that 7 respondents commends Neutral (14%). Then 04 respondents are Disagree (08%) that means they are unhappy to take accurate and timely information about remittance service. Lowest 2 respondents are Disagree (04%). 13. The employees of Jamuna Bank Limited will understand the specific needs of their Customers-

Valid

Frequency

Percent

Strongly Disagree

2

4.0

Disagree

2

4.0

Neutral

7

14.0

Agree

25

50.0

Strongly Agree

14

28.0

Total

50

100.0


N

Valid Missing

Mean Mode Std. Deviation

50 0 3.94 4.00 .977

Table: The employees of Jamuna Bank Limited will understand the specific needs of their CustomersMean is 3.94 which specify that respondents are "Satisfied" on employees of Jamuna Bank Limited will understand the specific needs of their customers. Mode is 4.00, which indicates better parts are "Agreed" with the response. Then Standard Deviation is .977 that means there are small gapes between the respondents answer. Hence it can say that responses are close to the mean.

Figure: The employees of Jamuna Bank Limited will understand the specific needs of their


CustomersThe Bar chart shows that the highest 25 respondents are Agree (50%) on employees of Jamuna Bank Limited will understand the specific needs of their customers. Then 14 respondents are Strongly Agree (28%). After that 7 respondents are Neutral (14%). Then 02 respondents are Disagree (04%) that means they are unhappy on the employees of Jamuna Bank Limited. Lowest 2 respondents are Strongly Disagree (04%). 14. The Bank provides its customers as much as necessary individual attention they can-

Valid

Frequency

Percent

Strongly Disagree

1

2.0

Disagree

1

2.0

Neutral

7

14.0

Agree

26

52.0

Strongly Agree

15

30.0

Total

50

100.0

N

Valid Missing

Mean Mode Std. Deviation

50 0 4.06 4.00 .8429

Table: The Bank provides its customers as much as necessary individual attention they can

Analysis demonstrates, Mean is 4.06 which prove that respondents are "Satisfied" on the bank provides its customers as much as necessary individual attention they can. Mode is 4.00, which indicates that superior parts are "Agreed" with the response. By Standard Deviation .843 respondents responses have few fluctuation and responses are shut to mean.


Figure: The Bank provides its customers as much as necessary individual attention they can It is evident from the chart that the highest 26 respondents are Agree (52%) to see the Bank provides its customers as much as necessary individual attention they can. Then 15 respondents are Strongly Agree (30%). After that 7 respondents commends Neutral (14%). Then 01 respondents are Strongly Disagree (02%). Lowest 01 respondents are Disagree (02%). 15. Customer are satisfied with the existing transaction process-

Valid

Frequency

Percent

Strongly Disagree

2

4.0

Neutral

9

18.0

Agree

18

36.0

Strongly Agree

21

42.0

Total

50

100.0


N

Valid Missing

Mean Mode Std. Deviation

50 0 4.12 5.00 .98229

Table: Customer are satisfied with the existing transaction processMean is 4.12 which prove that respondents are "Satisfied" to existing transaction process and service. Mode is 5.00, which indicates majority parts are "Agreed" with the response. Then Standard Deviation is .982 that means respondents responses are not fluctuate. For that reason, it can say that responses are close to the mean.

Figure: I am satisfied with the existing transaction processThe graph shows that the highest 21 respondents are Strongly Agree (42%) with the existing transaction process in the Jamuna Bank Limited. Then 18 respondents are Agree (36%). After that 9 respondents commends Neutral (18%). And lowest 2 respondents are Disagree (04%) that means they are not satisfy with the existing transaction process.


16. Jamuna Bank Limited have operating hours convenient to all their customers-

Valid

Frequency

Percent

Disagree

1

2.0

Neutral

4

8.0

Agree

23

46.0

Strongly Agree

22

44.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.32 4.00 .71257

Table: Jamuna Bank Limited have operating hours convenient to all their customers Here Mean is 4.32 which specify that respondents are "Satisfied" depending on JBL have operating hours convenient to all their customers. Mode is 4.00, which indicates that superior parts are "Agreed" with the response. Then Standard Deviation is .712 that shows there are small gapes between the respondents answer. Accordingly it can say that responses are close to the mean.

Figure: Jamuna Bank Limited have operating hours convenient to all their customers


It is evident from the chart that the highest 23 respondents are Agree (46%) to observe the operating hours convenient to all their customers of the bank. After that 22 respondents are Strongly Agree (44%). Soon after that 04 respondents commends Neutral (08%). The lowest 01 respondents are Disagree (04%) with this agreement. 17. Customer are satisfied with the existing remittance service-

Valid

Frequency

Percent

Neutral

4

8.0

Agree

20

40.0

Strongly Agree

26

52.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.44 5.00 .64397

Table: Customer are satisfied with the existing remittance serviceAnalysis demonstrates Mean is 4.44 which indicates that respondents are "Satisfied" with the existing remittance service. Mode is 5.00, which indicates that better parts are "Agreed" with the response. By Standard Deviation is .643 respondents responses have few fluctuation and responses are shut to the mean.


Figure: I am satisfied with the existing remittance serviceIt is evident from the graph that the highest 26 respondents are Strongly Agree (46%) with the existing remittance service. Then 20 respondents are Agree (40%). After that 04 respondents commends Neutral (08%). In terms of the remittance service most of the customers are satisfied.


18. Customer would not like to switch to other bank-

Valid

Frequency

Percent

Disagree

2

4.0

Neutral

3

6.0

Agree

25

50.0

Strongly Agree

20

40.0

Total

50

100.0

N

Valid Missing

Mean Mode Std. Deviation

50 0 4.26 4.00 .75078

Table: Customer would not like to switch to other bank Mean is 4.26 which prove that respondents are "Satisfied" that means they are not interested to switch to other bank. Mode is 4.00, which indicates that majority parts are "Agreed" with the response. Then Standard Deviation is .750 that means respondents responses are not fluctuate. Accordingly it can say that responses are close to the mean.

Figure: I would not like to switch to other bank


It is evident from the chart that the highest 25 respondents are Agree (50%) because they would not like to switch to other bank. After that 20 respondents are Strongly Agree (40%). Then 03 respondents are Neutral (06%) with this speech. And Lowest 2 respondents are Disagree (04%).


19. Jamuna Bank is responsive to customer request-

Valid

Frequency

Percent

Disagree

1

2.0

Neutral

2

4.0

Agree

26

52.0

Strongly Agree

21

42.0

Total

50

100.0

N

Valid Missing

Mean Mode Std. Deviation

50 0 4.32 4.00 .65807

Table: Jamuna Bank is responsive to customer request Here I found Mean is 4.32 which specify that respondents are "Satisfied" to see the bank is responsive to customer request. Mode is 4.00, which indicates that superior parts are "Agreed" with the response. Then Standard Deviation is .658 that means respondents responses are not fluctuate. Hence it can say that responses are close to the mean

Figure: Jamuna Bank is responsive to my request The chart demonstrates that the highest 26 respondents are Agree (52%) to observe that the employees of Jamuna Bank Limited are responsive to customers request. Then 21 respondents are Strongly


Agree (42%). After that 02 respondents commends Neutral (04%). Lowest 2 respondents are Disagree (04%) that means they are unhappy on the employees of Jamuna Bank Limited.


20. Customer are satisfied with the ability of Jamuna Bank employees to solve problems when they arise-

Valid

Frequency

Percent

Neutral

3

6.0

Agree

26

52.0

Strongly Agree

21

42.0

Total

50

100.0

N

Valid Missing

Mean Mode Std. Deviation

50 0 4.36 4.00 .59796

Table: I am satisfied with the ability of Jamuna Bank employees to solve problems when they ariseAnalysis demonstrates Mean is 4.36 which prove that respondents are "Satisfied" with the ability of Jamuna Bank employees to solve problems when they arise. Mode is 4.00, which indicates that majority parts are "Agreed" with the response. By Standard Deviation .597 respondents responses have few fluctuation and responses are shut to the mean.

Figure: I am satisfied with the ability of Jamuna Bank employees to solve problems when they arise


The graph shows that the highest 26 respondents are Agree (52%) with the ability of Jamuna Bank employees to solve problems when they arise. Then 21 respondents are Strongly Agree (42%). After that 03 respondents are Neutral (06%). They think that to solve the problems the employees are very slow or average. Most of the customers are satisfied to take the advantage or solve the problem from the employees of the JBL. 21. Jamuna Bank employees are knowledgeable about the banks products and service-

Valid

Frequency

Percent

Disagree

1

2.0

Neutral

4

8.0

Agree

27

54.0

Strongly Agree

18

36.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.24 4.00 .68690

Table: Jamuna Bank employees are knowledgeable about the banks products and service Here I found Mean is 4.24 which specify that respondents are "Satisfied" to know that Jamuna Bank employees are knowledgeable about the banks products and service. And Mode is 4.00, which indicates that superior parts are "Agreed" with the response. Then Standard Deviation is .687 that means respondents responses are not fluctuate. For that reason it can say that responses are close to the mean.


Figure: Jamuna Bank employees are knowledgeable about the banks products and service It is evident from the chart that the highest 27 respondents are Agree (54%) to observe that Jamuna Bank employees are knowledgeable about the banks products and service Then 18 respondents are Strongly Agree (36%). After that 04 respondents commends Neutral (08%). And the Lowest 01 respondents are Disagree (02%) they think that they don’t have any knowledge about the bank products and services.


22. Jamuna Bank employees are always profession in their interaction with me and their appearance-

Valid

Frequency

Percent

Disagree

1

2.0

Neutral

8

16.0

Agree

18

36.0

Strongly Agree

23

46.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.26 5.00 .80331

Table: Jamuna Bank employees are always profession in their interaction with me and their appearance Analysis explain that Mean is 4.26 which prove that respondents are "Satisfied" to observe that Jamuna Bank employees are always profession and sincere in their interaction with the customers and their appearance. Mode is 5.00, which indicates that better parts are "Agreed" with the response. Then Standard Deviation is .803 that means respondents responses are not fluctuate. Hence it can say that responses are close to the mean.

Figure: Jamuna Bank employees are always profession in their interaction with me and their appearance


The graph explain that the highest 23 respondents are Strongly Agree (46%) to see that

the

employees are always professional in their interaction with the customer and their appearance. Then 18 respondents are Agree (36%). After that 08 respondents commends Neutral (16%). And the lowest 01 respondents are Disagree (02%) because he/she think that they are not professional in their interaction with customer and their appearance. 23. The Customer Service Representatives requested customer permission before placing customer on hold-

Valid

Frequency

Percent

Disagree

1

2.0

Neutral

6

12.0

Agree

20

40.0

Strongly Agree

23

46.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.30 5.00 .76265

Table: The Customer Service Representatives requested customer permission before placing customer on hold Analysis demonstrates that Mean is 4.30 which specify that respondents are "Satisfied" depends on the Customer Service Representatives requested customer permission before placing customer on hold. Mode is 5.00, which indicates that better parts are "Agreed" with the response. Then Standard Deviation is .763 that means respondents responses are not fluctuate. Accordingly it can say that responses are close to the mean.


Figure: The Customer Service Representatives requested customer permission before placing customer on hold The graph prove that the highest 23 respondents are Strongly Agree (46%) depends on the customer service representatives requested customer permission before placing the customer on hold. Then 20 respondents are Agree (40%). After that 06 respondents commends Neutral (12%). And the lowest 01 respondents are Disagree (02%) because he/she think that the customer service representatives are not requested customer permission before placing the customer on hold. 24. Customer are pleased with the Online Banking service offered by Jamuna Bank-

Valid

Frequency

Percent

Disagree

1

2.0

Neutral

5

10.0

Agree

24

48.0

Strongly Agree

20

40.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.26 4.00 .723

Table: Customers are pleased with the Online Banking service offered by Jamuna Bank Here, Mean is 4.26 which prove that respondents are "Satisfied" and pleased with the Online Banking service offered by Jamuna Bank. Mode is 4.00, which indicates that superior parts are "Agreed" with the response. By Standard Deviation .723 respondents responses have few fluctuation and response are shut to mean.


Figure: Customers are pleased with the Online Banking service offered by Jamuna Bank The graph explain that the highest 24 respondents are Agree (48%) and pleased with the Online Banking service offered by Jamuna Bank. Then 20 respondents are Agree (40%). After that 05 respondents commends Neutral (10%). And the lowest 01 respondents are Disagree (02%) because he or she does not satisfied in terms of online banking service of Jamuna Bank.


25. The Customer Service Representative addressed me by name during the course of the phone call-

Valid

Frequency

Percent

Neutral

5

10.0

Agree

26

52.0

Strongly Agree

19

38.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.28 4.00 .640

Table: The Customer Service Representative addressed Customer by name during the course of the phone call Analysis explain that Mean is 4.28 which means that respondents are "Satisfied" to observe the customer service representative which is addressed customer by name during the course of the phone call. Mode is 4.00, which indicates that better parts are "Agreed" with the response. Then Standard Deviation is .640 that means respondents responses are not fluctuate. Hence it can say that responses are close to the mean.

Figure: The Customer Service Representative addressed Customer by name during the course of the phone call It is evident from the graph that the highest 26 respondents are Agree (52%) to observe the customer service representative which is addressed customer by name during the course of the phone call. After that 19 respondents are Agree (38%). Then 05 respondents commends Neutral (10%). Finally in this context every respondents like to take the advantage which is addressed by name during the course of phone call.


26. Customer feel that the Customer Service Representative was giving me his/ her full attention during my phone call-

Valid

Frequency

Percent

Neutral

12

24.0

Agree

19

38.0

Strongly Agree

19

38.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.14 4.00 .78272

Table: Customer feel that the Customer Service Representative was giving to customer his/ her full attention during my phone call Mean is 4.14 which prove that respondents are "Satisfied" to observe that the Customer Service Representative was giving to customer his/ her full attention during the customer phone call. Here, Mode is 4.00, which indicates that superior parts are "Agreed" with the response. By Standard Deviation .783 respondent’s responses have few fluctuation and responses are shut to mean.

Figure: Customer feel that the Customer Service Representative was giving to customer his/ her full attention during my phone call The graph explain that the 19 respondents are Strongly Agree (38%) and Agree (38%) to observe that the Customer Service Representative was giving to customer his/ her full attention during the customer phone call. So their commends are equal. After that 12 respondents are Neutral (24%). 27. The Customer Service Representative was responsive to customer requests-


Valid

Frequency

Percent

Neutral

12

24.0

Agree

23

46.0

Strongly Agree

15

30.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.06 4.00 .73983

Table: The Customer Service Representative was responsive to customer requests Analysis demonstrates that Mean is 4.06 which specify that respondents are "Satisfied" to see the customer service representative was responsive to customer requests. Mode is 4.00, which indicates that better parts are "Agreed" with the response. Then Standard Deviation is .739 that means respondents responses are not fluctuate. Accordingly it can say that responses are close to the mean.

Figure: The Customer Service Representative was responsive to customer requests


The chart shows that the highest 23 respondents are Agree (46%) to see the customer service representative was responsive to customer requests. Then 15 respondents are Agree (30%). After that 12 respondents commends Neutral (24%). The customers of the Jamuna Bank are satisfied because the CSR was responsive and helpful.


28. The Customer Service Representative had the ability to answer customer question and/or solve customer problem-

Valid

Frequency

Percent

Disagree

1

2.0

Neutral

8

16.0

Agree

17

34.0

Strongly Agree

24

48.0

Total

50

100.0

N

Valid Missing

Mean Mode Std. Deviation

50 0 4.28 5.00 .80913

Table: The Customer Service Representative had the ability to answer customer question and/or solve customer problem Mean is 4.28 which specify that respondents are "Satisfied" to observe that the Customer Service Representative had the ability to answer customer question and/or solve customer problem. Mode is 5.00, which indicates that superior parts are "Agreed" with the response. By Standard Deviation .809 respondents responses have few fluctuation and response are shut to the mean.

Figure: The Customer Service Representative had the ability to answer my question and/or solve customer problem The graph explain that the highest 24 respondents are Strongly Agree (48%) to observe that the Customer Service Representative had the ability to answer customer question and/or solve customer problem. Then 17 respondents are Agree (36%). After that 08 respondents commends Neutral (16%). And the lowest 01 respondents are Disagree (02%) because he/she think that they does not had the ability to answer customer question or solve the problems.


29. Jamuna Bank employees provide prompt and efficient service-

Valid

Frequency

Percent

Strongly Disagree

1

2.0

Disagree

2

4.0

Neutral

8

16.0

Agree

14

28.0

Strongly Agree

25

50.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.20 5.00 .9897

Table: Jamuna Bank employees provide prompt and efficient service Analysis explain that Mean is 4.20 which specify that respondents are "Satisfied" to see the Jamuna Bank employees provide prompt and efficient service. Mode is 5.00, which indicates that better parts are "Agreed" with the response. Then Standard Deviation is .989 that means respondents responses are not fluctuate. Accordingly it can say that responses are close to the mean.

Figure: Jamuna Bank employees provide prompt and efficient service


The chart explain that the largest 25 respondents are Strongly Agree (50%) to observe the Jamuna Bank employees have the ability to provide prompt and efficient service. Then 14 respondents are Agree (28%). Soon after that 08 respondents commends Neutral (16%). The lowest 02 respondents are Disagree (04%) and 01 respondents are Strongly Disagree (02%) because they think that they don’t provide prompt and efficient service.

30. Customer would like to recommend this bank to my friends and family-

Valid

Frequency

Percent

Neutral

4

8.0

Agree

27

54.0

Strongly Agree

19

38.0

Total

50

100.0

N Mean Mode Std. Deviation

Valid Missing

50 0 4.30 4.00 .614

Table: Customer would like to recommend this bank to friends and family Analysis demonstrates that Mean is 4.30 which prove that respondents are "Satisfied" about customer service so they would like to recommend this bank to friends and family. Mode is 4.00, which indicates that better parts are "Agreed" with the response. Then Standard Deviation is .614 that means respondents responses are not fluctuate. Hence it can say that responses are close to the mean.


Figure: Customer would like to recommend this bank to friends and family It is evident from the chart that the highest 27 respondents are Agree (54%) about customer service so they are willing to recommend this bank to friends and family.

Then 19 respondents are Strongly

Agree (38%). After that 04 respondents commends Neutral (08%). Most of the customer said that due to the Customer Satisfaction they are happy and satisfied. 31. Overall, Customer find doing business with Jamuna Bank to be easy and enjoyable-

Valid

Frequency

Percent

Neutral

5

10.0

Agree

27

54.0

Strongly Agree

18

36.0

Total

50

100.0


N

Valid Missing

Mean Mode Std. Deviation

50 0 4.26 4.00 .6327

Table: Overall, Customer find doing business with Jamuna Bank to be easy and enjoyable Here, Mean is 4.26 which prove that respondents are "Satisfied" because they find doing business with Jamuna Bank to be easy and enjoyable. Mode is 4.00, which indicates that better parts are "Agreed" with the response. Then Standard Deviation is .632 that means respondents responses are not fluctuate. Hence it can say that responses are close to the mean.

Figure: Overall, Customer find doing business with Jamuna Bank to be easy and enjoyable The chart explain that the highest 27 respondents are Agree (54%) because they find doing business with Jamuna Bank to be easy and enjoyable. Then 18 respondents are Strongly Agree (36%). After that 05 respondents commends Neutral (10 3.7 Findings: From the analysis I have find out some major point those are mentioned bellow. 1. After analyzing it has been observed that significant number of customers is dissatisfied about the promise of the bank. In some cases the bank failed to keep promises. For this employees should be trained for increasing efficiency and productivity.


2. The employees of the bank have assured the customers about courteous service that generates confidence in the customers mind about services. That is the reason; most of the customers are pleased by the courteous, caring service of the bank. 3. The number of the branches is not in satisfactory amount. 4. In terms of knowledge about the product and service the employees are good. 5. There are huge gap among the branches, so customers sometimes need to travel a lot for banking purpose, which is time consuming. 6. Customer is the satisfied to see that their understanding is very good with the customers. 7. In terms of existing transaction process and remittance service the customer are well satisfied. 8. The employees of the Jamuna Bank Limited worked attentively. 9. The employees of the Jamuna Bank Limited have the ability to answer customer questions. 10. Customer are pleased to use the Online Banking Service of Jamuna Bank Limited. 11. The employees of Jamuna Bank Limited are responsive to customer request. 12. Jamuna Bank employees are always professional in their interaction with the customers. 3.8 Recommendation: The recommendations for Jamuna Bank Limited to gain and maintain customer satisfaction are the followings.

Promotional activities should be intensified. In order to promote the bank TV commercials, billboards, radio advertisings and newspaper ads can be used. Both the printing and electronic media should be used equally.

New products should be launched.

Jamuna Bank should be increased branches.

The bank should focus more on existing customers in order to build strong and loyal relationship with them as most satisfied customers recommends the bank to friends and relatives.

Deposit Pension Scheme (DPS) and Monthly Profit Scheme are very much popular in Bangladesh. So these products should be launched.

Jamuna Bank should to consider the locating flexibility most for their new branch opening

The gape should be reduced among the branches. So customers does not need to travel a lot for banking purpose.

Jamuna Bank should be evaluated the service by emphasizing the customer satisfaction.


3.9 Conclusion: This report is an effort to reflect a clear idea about the Customer Satisfaction of Jamuna Bank Ltd. From my research also found quality has more priority in terms of selecting the different type of schemes according to the customer perception. Present this report on the basis of the knowledge and experience gained during the internship period. Throughout the report my objective is to seek and find out the customer satisfaction of Jamuna bank ltd. From this report found that most of the customers of the bank are highly satisfied about the service of the bank. To satisfy these customers, the management can take some attempts, noted earlier as recommendations. Considering the volume of operation and limitations of resources and proper management the bank is doing better than many modern banks. If it’s possible for the bank management to provide recommended services, the perception of the customers will be positive about the service of the Jamuna bank. Jamuna bank ltd started with a vision to be the most efficient financial intermediary in the country and it believes that the day is not far off when it will reach its desired goal. Jamuna Bank Limited looks forward to a new horizon with a distinctive mission to become a highly competitive modern and transparent institution comparable to any of its kind at home and abroad. BIBLIOGRAPHY:

1. Zeithmal A. Valarie, Bitnar M. Jo and Gremler D. D, Service Marketing, Singapore: Mcgraw Hill Education (Asia), 2006 2. Kothari C. R, Research Methodology, New Delhi: New Age International (P) Ltd. 1990 Internal Publications: 3., Overview of General Banking of JAMUNA BANK Limited, Dhaka, 2006 4. Rates and Charges of Jamuna Bank Limited, Dhaka, 2009 5. Repor of credit Risk Mangement of Jamuna bank ltd. Website: 5. Website: <http:// www.jamunabankbd.com/>, visited on May, 2010


APPENDIX-I QUESTIONNAIRE “Customer Satisfaction of Banking Service: A Study on Jamuna Bank Limited” Dear Respondents, I, the student of Business Administration of Eastern University, am willing to know a research entitled “Customer Satisfaction of Banking service: A Study on Jamuna Bank Limited”. I will be thankful if you cooperate with me. For this regard your kind cooperation is highly appreciated. Please read the following question carefully and answer it. 1. Name: ……..…………………………………………………………………………… 2. Gender:

1.Male

2. Female

3. Education: 1) HSC

2) Graduate

3) Post Graduate

4) Others

4. Profession: 1) Private Service

2) Govt. Service

5) Housewife

6) Others....

3) Business

4) Student

5. Income Range (Monthly BDT): 1) Below 10,000

2) 10,000-20,000

3) 21,000-30,000

4) Above 30,000

Your Living Area: ……………………………………………………………………. 6. The appearance of the banks physical facilities, equipment, personnel & communication materials are… 1. Impressive.

2. Average

3. Unimpressive

7. Materials associated with the service (pamphlets or statements) are… 1. Appealing

2. Average

3. Unappealing

8. The knowledge and courtesy of the bank's employees is… 1. Satisfactory 9.

2. Average

3. Dissatisfactory

Their ability to convey trust and confidence to the customer is…. 1. Adequate.

2. Average

3. Inadequate

10. The numbers of delivery points/ branches are… 1. Sufficient

2. Neutral

3. Should be increased


Strongly

Disagree

Neutral

Agree

Strongly Agree

Disagree 1

2

3

4

5

[Instructions: Please read each question below carefully and then tick (â&#x2C6;&#x161;)] 11

The bank has the ability to perform the promised service

1 2 3 4 5

dependably. 12

The bank has sufficient motivation to help customers and

1 2 3 4 5

provide prompt service. 13

The bank provides accurate and timely information about

1 2 3 4 5

remittance services. 14

The employees of Jamuna Bank Limited will understand the

1 2 3 4 5

specific needs of their customers. 15

The Bank provides its customers as much as necessary

1 2 3 4 5

individual attention they can. 16

I am satisfied with the existing transaction process.

17

JamunaBL have operating hours convenient to all their

1 2 3 4 5 1 2 3 4 5

customers 18

I am satisfied with the existing remittance services.

19

I would not like to switch to other bank.

20

Jamuna Bank is responsive to my requests

21

I am satisfied with the ability of Jamuna Bank employees to

1 2 3 4 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 5

solve problems when they arise 22

Jamuna Bank employees are knowledgeable about the bank's

1 2 3 4 5

products and services

23

Jamuna Bank employees are always professional in their interaction with me and their appearance

1 2 3 4 5


24

The

Customer

Service

Representative

requested

my

1 2 3 4 5

permission before placing me on hold 25

I am pleased with the Online Banking services offered by

1 2 3 4 5

Jamuna Bank 26

The Customer Service Representative addressed me by name

1 2 3 4 5

during the course of the phone call 27

I feel that the Customer Service Representative was giving

1 2 3 4 5

me his/her full attention during my phone call. 28

The Customer Service Representative was responsive to my

1 2 3 4 5

requests 29

The Customer Service Representative had the ability to

1 2 3 4 5

answer my question and/or solve my problem 30

Jamuna Bank employees provide prompt and efficient

1 2 3 4 5

service 31

I would like to recommend this bank to my friends and

1 2 3 4 5

family. 32

Overall, I find doing business with Jamuna Bank to be easy

1 2 3 4 5

and enjoyable. 33

I would like to recommend this bank to my friends and family.

1 2 3 4 5


Customer satisfaction of banking service a study on jamuna bank limited