Asma Complete Report

Service Quality and Customer Satisfaction of Prime Bank
Submitted To:
Ms. Kaniz Fatema
Lecturer
Department of Marketing
Faculty of Business Studies
Premier University, Chittagong
Submitted By:
Asma Begum
ID: 14-028-1-01-06775
Department: Marketing
Batch: 28th
Faculty of Business Studies,
Date of Submission: 25.04.2018
I
Submitted To:
Ms. Kaniz Fatema
Lecturer
Department of Marketing
Submitted By:
Asma Begum
ID: 14-028-1-01-06775
Department: Marketing
Batch: 28th
Faculty of Business Studies,
Date of Submission: 25.04.2018
II
Letter of Transmittal:
April 25, 2018
Ms. Kaniz Fatema

Lecturer
Dear Madam,
As per given schedule, I am submitting the attached report entitled Service Quality and
Customer Satisfaction of Prime Bank.
This report contains an entire discussion about Service Quality and Customer Satisfaction
of Prime Bank. I have collected as much information as possible from several sources. I
have tried my best to prepare this in consistence with the optimal standard under
direction. It is a great pleasure for me to present you with the research report as a
requirement of BBA.
We hope you find this report satisfactory.
Sincerely yours,
-----------------
Asma Begum
ID:14-028-1-01-06775
Department: Marketing.
Batch: 28th
III
Acknowledgement
The Research Report on “Service Quality and Customer Satisfaction of Prime Bank”
is hoped to be one of the good research in terms of the concepts used. It required a lot of
studies & practical knowledge on the terms part carried out at the university. A research
of this proportion could not be completed without the assistance of some benevolent
people whom i must thank.
I would like to particularly thank my instructor Ms. Kaniz Fatema, Lecturer, Department
of Marketing, who gave me lots of inspiration guidance support and encouragement. She
points out the mistakes and also helps me to clarify my research. Her broad and profound
knowledge gave me great inspiration as well as great help.
Finally, I would like thanks to Almighty God for enabling me to the successful
completion of my research & also I offer my regards to all of those who supported me in
every respect during this research.
IV
Executive Summary
Prime Bank Limited (PBL) was established on 17 th April, 1995 with an authorized capital of
Tk. 1000 Million and paid up capital of Tk. 100 Million (raised to Tk. 200 Million in 1997) by a
group of highly successful entrepreneurs from various fields of economic activities such as
shipping, oil, finance, garments, textiles and insurance etc. It is a full licensed scheduled
commercial bank set up in the private sector in pursuance of the policy of the Government to
liberalize banking and financial service.
This report based on Term Paper Report, partial requirement for the Bachelor of Business
Administration in Premier University Chittagong. The main objective of this report is to find out
customers’ satisfaction on service quality of Prime Bank Limited.
The report discusses about the customer satisfaction level of Prime Bank Limited. This report is
divided into six chapters. First chapter contains the introductory part of this report which implies
a short description about banking sector in Bangladesh.
The Second chapter is the Literature Review about Service Quality, Customer Satisfaction,
Tangibles, Reliability, Responsiveness, Assurance, and Empathy.
Third chapter includes the organizational profile. It is about the organization upon which the
report has been prepared. It contains the particulars of the organization through which the
organization can be recognized. Mission, goal, Corporate Philosophy, Strategic Priority, Ethics,
corporate social responsibility, products and services , Financial Performance etc are discussed in
this part. A simple discussion over HRM is also included in this part.
The Fourth chapter includes Findings, Analysis discussed in this part.
The Fifth chapter discusses the problem and Recommendations about Prime Bank Limited.
The Sixth chapter includes the conclusion of the report followed by reference which
acknowledges all persons and institutions cited in the study and the appendix which contains all
other materials that bothers on the study.
V
Table of Contents
Chapter 1 .......................................................................................................................... 1
Introduction ...................................................................................................................... 1
1.1 Introduction: ............................................................................................................ 1
1.2 Objectives: .............................................................................................................. 2
1.3 Methodology: .......................................................................................................... 2
1.3.1 Research Design: ..................................................................................................... 2
1.3.2 Population and Sampling: .................................................................................... 2
1.3.3 Data Gathering and Analysis: ............................................................................... 2
1.4 Limitations: ............................................................................................................. 3
Chapter 2 .......................................................................................................................... 4
Literature Review .............................................................................................................. 4
2.1 Service Quality: ....................................................................................................... 4
2.2 Consumer Satisfaction: ............................................................................................. 5
2.3 Quality Tangibles: .................................................................................................... 7
2.4 Quality Reliability: ................................................................................................... 9
2.5 Quality Responsiveness: ......................................................................................... 10
2.6 Quality Assurance: .............................................................................................. 12
2.7 Quality Empathy: .................................................................................................... 14
Chapter 3 ........................................................................................................................ 16
Company Overview ......................................................................................................... 16
3.1 Background of Prime Bank Limited: ............................................................................ 16
3.2 Vision Statement: ....................................................................................................... 16
3.3 Mission Statement: ..................................................................................................... 17
3.4 Corporate Philosophy: ................................................................................................ 17
3.5 Strategic Priority: ....................................................................................................... 18
3.6 Ethics, Integrity and Trust: .......................................................................................... 19
3.7 Product & Services: .................................................................................................... 19
3.7.1 Retail Banking:........................................................................................................ 19
3.7.2 Corporate Banking: .................................................................................................. 23
3.7.3 Islamic Banking:...................................................................................................... 24
VI
3.7.4 SME Banking: ......................................................................................................... 25

3.7.5 NRB Banking: ......................................................................................................... 25
3.8 Awards & Achievements: ............................................................................................ 25
3.9 Corporate Social Responsibility: .................................................................................. 26
3.10 Financial Performance of Prime Bank Limited: ............................................................ 27
3.10.1 Credit Rating: ........................................................................................................ 27
3.10.2 Profit of PBL: ........................................................................................................ 28
3.10.3 Capital (Authorized & Paid-Up): ............................................................................. 28
3.10.4 Shareholder’s Equity: ............................................................................................. 29
3.10.5 Investments: .......................................................................................................... 29
3.10.6 Total Asset: ........................................................................................................... 30
Opportunities: ................................................................................................................. 30
Threats: .......................................................................................................................... 31
3.11 Human Resource of Prime Bank Limited: ................................................................... 31
3.11.1 HR Vision: ............................................................................................................ 31
Chapter 4 ........................................................................................................................ 33
Findings and Analysis ...................................................................................................... 33
4.1 Demographical Discussion of the Respondent: ........................................................... 33
4.2 Frequency: ............................................................................................................. 33
4.3 Descriptive Statistics: .............................................................................................. 34
4.4 Reliability: ............................................................................................................. 35
Chapter 5 ........................................................................................................................ 36
Problem and Recommendation .......................................................................................... 36
Chapter 6 ........................................................................................................................ 37
Conclusion ...................................................................................................................... 37
Reference: ....................................................................................................................... 38
Appendix: ....................................................................................................................... 42
VII
Chapter 1
Introduction
1.1 Introduction:
Banks play a crucial role in economic development. For an economy money is one of the most
important and essential elements which can be compared with blood of our body when financial
institution like bank act as a artery system of the economy. Banking system occupies an
important place in a nation’s economy because of its intermediary role; it ensured allocation and
keeps up the momentum of economic activities. Bangladesh economy has been experiencing a
rapid growth since the 90‟s. Urbanization and lifestyle changes concurrent with the economic
development created demand for banking products and services. From the beginning to today
bank is playing an important role in our economy. For the local community, banks provide
access to funding and financial services to both local business and citizens, as well as the money
banks invest back into the community through employee payroll, business investments, and
taxes. First of all banks cater the need of society by mopping up deposits as different forms like
savings, MSS, FD, SND and many other options at reasonable rates. Also bank provide credit
facility to high end investors for big projects in the industrial, infrastructure and service sectors.
Also SME sector get credit facility from financial institutions to establish new business as well
as for expanding their existing business. It means financial institution acts like an intermediary
who receive money from surplus unit and deliver that money to the deficit unit. So it is proved
that without financial institutions many students could not obtain proper education, many
families could not buy their own house to live, industry could not grow up and government could
not provide public services to mass people.
The modern central bank is an institution responsible not only for the maintenance of economic
stability; it also performs a variety of developmental and promotional functions of a countries
economy. Bangladesh pursues a liberal market economy. Bangladesh Bank is the Central Bank
of Bangladesh and the chief regulatory authority in the sector, which is responsible for
promoting healthy growth and development of the banking system. So, without any doubt we can
say that from very first emergence and inception of modern civilization, bank plays a pivotal role
in case of overall financial and socioeconomic development of any modern country.
Prime Bank Limited (PBL) is a fully licensed commercial bank incorporated on 1995 as a public
limited company under the Companies Act 1994, which is sponsored by reputed personalities in
the field of trade and commerce.
1
1.2 Objectives:
The main objective of the study was to find out Service Quality and Customer Satisfaction of bank.
There are many sub objectives are as follows:

 To find out Tangibles.
 To find out Reliability.
 To find out Responsiveness.
 To find out Assurance.
 To find out Empathy.
1.3 Methodology:
1.3.1 Research Design:

I follow survey pre coded, close ended and structured questionnaire. I also use 5 points required
scale research.
1. Strongly Disagree
2. Disagree
3. Neutral
4. Agree
5. Strongly Agree
1.3.2 Population and Sampling:
I collect my data from sample. The data has been collected from Customer of Prime Bank. I
collected 100 responses from the respondent Perspective.
1.3.3 Data Gathering and Analysis:
I collect all the data from the field & the purpose behind such collection to gather quantitative
information for having experience & for practical knowledge. All the data are collected through
direct personal interview method. I use standard edition and use Pre coded procedure &
categorize the data in gender, age, marital status, education occupation and income .After
collection of primary data; I input the data to SPSS software and analyzing the data by
Demographical Discussion, Reliability, Descriptive Statistics, Correlation and Regression.
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1.4 Limitations:
During fieldwork, i face some problems:
Some Respondents answer the questions without reading the

questions properly.
Some Respondents did not provide actual answers.
Lack of effective interaction
Lack of Adequate Time.
3
Chapter 2
Literature Review
This section contains an overview of literature on Service Quality and Customer Satisfaction of a
Bank.
2.1 Service Quality:

In today’s constantly changing business environment, providing a superior service quality,
through an adequate and a strong focus on customer (Chiara G., 2007), is one of the key factors
enabling firms to gain a lasting competitive advantage in winning the market. For this, nowadays
marketers, according to R. Ladhari (2011), are trying to focus more on a continuous monitoring
and evaluation of service quality, involving various innovative offerings and service
developments, which have a direct influence on customers‟ service experiences. Because, for
instance, better service quality increases perceived service value and satisfaction; improves the
service provider's customer retention and financial performance; and also enhances a firm's
corporate image. (Nguyen and Leblanc, 1998)
Service Quality: refers to (Patrick P. et. al 1996, pp. 62), the difference between customers‟
expectations for service performance prior to the service encounter and their perceptions of the
service received. Service quality theory (Oliver, 1980) predicts that clients will judge that quality
is low if performance does not meet their expectations and quality increases as performance
exceeds expectations. Accordingly, customers‟ expectations serve as the foundation on which
service quality will be evaluated by customer. In addition, as service quality increases,
satisfaction with the service and intentions to reuse the service increases. Quality has become a
part of our daily lives. It has received high attention by many firms and customers. While
customers keep looking and expressing their desires for quality products or services, firms
consider quality as a key strategy to develop products and services in order to gain competitive
advantages (Ali,2013).
Service quality is antecedent to customer satisfaction (Parasuraman, Berry & Zeithaml 1994,
111-125; Caruana 2002, 811-830). Perceived service quality is a result of individual service
encounter between the service provider and the customer, during which the customer evaluates
quality and develops satisfaction or dissatisfaction (Bitner et al. 1990, 71-84). The pre-purchase
expactations formed by the customers are influenced by intrinsic and extrinsic cues related to a
practicular experience of previous experiences and other related information sources (Gould-
Williams 1999, 97-118). It is difficult to reassure the customers regarding the functional
performance of the environmentally friendly products due to the past failure of many of these
products (Davis 1993; Ottman 1999, 21).
Customers perceived service quality varies from one to another due to different aspects of
service quality. Service quality is judged by the customers, and it depends on how the customers
approach the service, because the starting point of using a service is the basis of their
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perceptions. Quality of a service is achieved when a service provider satisfies or exceeds their
consumers expected service, which consequently leads to customer satisfaction. Early
conceptualization of service quality was developed and popularized by Christiaan Grönroos
(1982). In his model, the overall perception of service quality is presented as the final result of an
evaluation process, in which the consumer compared their expectations of quality and their
experiences of quality.
Grönroos (1982) argues that service quality, as recognized by consumers has three dimensions;
they are a functional dimension, a technical dimension and company image. Functional quality
answers the question “how” the service is provided to its customers, while technical quality
focuses on “what” service is delivered to its customers. “How” can be referred in terms of
process quality, which means the evaluation during the service performance, and “what” is
related to output quality, meaning the evaluation after the service performance. The third factor,
image, is formed by technical and functional quality and is likewise affected by some external
factors, such as word-of-mouth, marketing communication, pricing, and customer needs, etc.
Moreover, it creates favorable attitudes to the service providers. Accordingly, measuring service
quality should include these attributes in order to attain high predictive validity of service
quality. (Rahma, Khan, and Haque, 2012)
Generally, the different literatures define service quality in the following ways:
I. An outcome of evaluation process (Grönroos, 1984), and differences in that

customers make comparison (Parasuraman et. al, 1988) of their expectation
with their perception of the service received;
II. The overall impression of consumers towards the superiority or inferiority
of an organization and its services (Bitner, 1990).
Service quality can be both (Grönroos, 1982) technical quality- involves what the customer is
actually receiving from the service, and functional quality- involves the manner in which the
service is delivered. Marketing research studies resulted in a general agreement that firms
providing high service quality have a competitive advantage, and often are more profitable.
2.2 Consumer Satisfaction:
Customer satisfaction, as noted by Tahir, Waggett and Hoffman (2013), is “a customer's

perspective based on expectation and then subsequent post purchase experience”. In other words,
it is an evaluation of products or services‟ quality level that meets or exceeds the customer
expectations. The term customer satisfaction has been on the markets for a long time. In fact,
many researchers and academicians emphasized that it is a key element for a company‟s success
in the market as well as a crucial factor for company‟ssurvival as it has a positive effect on
company‟s profitability. (Novikova, 2009; Angelova and Zekiri, 2011) It cannot be denied that a
satisfied consumer has a tendency to buy more than a less satisfied one. In a highly competitive
market, customer satisfaction is, indeed, a crucial key that builds strong and long-term
5
relationships between the customers and the firm. The measure of customer satisfaction,
therefore, has become a vital concern for many companies and services providers to achieve such
success. (Mohammad, 2012)
Customer satisfaction is thought to be a precursor to behavioral intentions. Scholars have

produced impressive evidence of the favorable effects of customer satisfaction on various
behavioral intention indicators, such as repeat purchase (Szymanski and Henard, 2001), retention
(Bolton, 1998), willingness to recommend to others (Homburg et al., 2005), loyalty (Anderson
and Sullivan, 1993), and profitability (Anderson et al., 1994; Bernhardt et al., 2000). Equally
impressive results have also been found in healthcare research. Satisfied patients are more likely
to comply with medical treatment regimens (Williams, 1994; Ahorny and Strasser, 1993) heal
faster (Kincey et al., 1975) and are more likely to utilize services in the future (Baker, 1990). It is
therefore an important business success strategy (Anderson et al., 2004; Yoon and Uysal, 2005).
Satisfaction is considered to be a global evaluation of a consumer‟s experience with a product or

service offering. Global evaluations of service experiences has been described as a cognitive
evaluation of the sum total of satisfactions with the individual elements or attributes of all the
products and services that make up the experience (Tse and Wilton, 1988; Pizam and Ellis,1999).
Oliver (1980) described satisfaction as a cognitive state resulting from cognitive evaluations
between expectations and perceived performance.
One of the most important goals of any organization is retaining and satisfying current and past
customers (Pizam & Ellis 1999, 326-339). If environmentally friendly products need to be
considered or purchased by the customers then they have to perform satisfactorily compared to
conventional products and achieve consumer satisfaction on key attributes such as functional
performance, quality and price (Ottman 1995, 29; Schlegelmilch at all. 1996, 35-56; Wong,
Turner & Stoneman 1996, 263- 281.; Roy 1999). Customers purchase goods and services with
prepurchase expectations about anticipated performance (Oliver 1980, 460-469).
There is an increasing tendency to view satisfying customer as going beyond providing just a
technically superior product or service, i.e., defect reduction and continuous improvement
programs. Quality is also as such defined by the customer‟s perception, not by the service
provider. However, it should also be born in mind that even if the first person who is considered
as a customer is the buyer (end user), there are several other people who need to be considered as
customer for the reason that their involvement in the production and distribution of the service or
product, or project (LR Ireland, 1992, 123-124) affects the quality of the service. Generally,
customers may be of:
 Product/service end users- users expectations such as ease of use, safe operation, reliable
products, durable goods, and easily maintained products, etc. which all together enhances
6
better functional performance and or greater ease of use compared to other competing
products/services.
 Boss (senior management) - the project director expects the project manager to
effectively and efficiently undertake the work, including keeping informed every
stakeholder as to its progress and potentials that could affect its success and relationship
with customers, etc.
 Project team members- the team expects professional leadership of the project manager,
safe work environment, clear directions pertaining to work, training for new works, and
appropriate rewards for superior performance. Of course, the team members also expect
loyalty from the project manager to shield them from outside interference with their
work.
 Functional organization-involves an expectation of efficient use of assigned resources

(human, material, financial, information, etc.)
 Vendors/suppliers- Vendors and suppliers have a vested interest in providing parts,

components, and materials to the project meeting the quality requirements. These
customers have expectations of proper specification practices by project personnel and
prompt payment upon delivery.
 Society- a special interest groups and is the guardian of such general areas as the
environment and public safety. The issues addressed by society include environmental
pollution of rivers and streams, maintenance of a natural habitat, etc.
How well a company addresses each and every requirement of these groups of customers
determines the new product/service’s success in the market. Therefore, companies should
consider customers as their important part of gaining improved quality of service.
2.3 Quality Tangibles:
One of the most cited research, using the SERVQUAL instrument, was by Nitecki (1995, cited in
Nitecki 1996) for her doctoral dissertation. Reviewing the literature on SERVQUAL, Nitecki
found that by 1994 it had been introduced explicitly to the library field through at least 4
empirical studies undertaken in public, special and academic libraries. The validity of the
instrument was tested on 3 services in an academic library: interlibrary loan, reference and
closed-reserve. Though her data supported the validity and reliability of SERVQUAL scale, it
suggested a three-factor relationship among the 22 SERVQUAL items rather than the five
collapsed dimensions (R.A.T.E.R.) which Parasuraman et al., (1988) had revealed. The
7
conceptualization of the dimension tangibles in libraries was similar to SERVQUAL, but there
was overlap between reliability and responsiveness and even between responsiveness, assurance
and empathy. Nitecki did not attempt to further explore and suggest what model would better
explain library service quality dimensionality. However, her suggestion for an alternative way to
conceive quality from the traditional counts of collection size and materials use, to a more
psychometrically sound measure was the beginning of more library science practitioners’ and
researchers’ uptake of development in the business sector service quality assessment that had a
great impact on later research in library service quality assessment.
Another application of the SERVQUAL was carried out by Seay, et al., (1996). Taking the
original ten dimensions of SERVQUAL and rewording each items in each dimension, they
decided that the following seven service determinants could be adapted to library services:
reliability, responsiveness, assurance, access, communications, security and tangibles. They then
asked library users to express their expectations for library services and coded these responses to
match the seven determinants in an effort to evaluate service quality. This method of positive and
negative comments via open ended questions caused the majority of the comments to be
concerning the dimension ‘tangibles’, contradictory to SERVQUAL’s findings that tangibles was
the least important dimension. As Bitner (1990) had pointed out, physical surrounding and
employee responses can influence customer reaction towards the service. The study also found
that negative comments on ‘reliability’ dominated the rest of the responses, supporting Berry et
al.’s (1990) findings. One drawback of this method was that it focused on customer’s negative
comments and equated it with perceived importance of a particular service attribute, whereas,
expectation and satisfaction have been summoned as positive feeling about something. These
seven determinants and their definition were later used by Thapisa and Gamini (1999) and Ashok
(2007) in their evaluation of their respective university library service quality. However, both
studies did not provide any empirical data on the reliability and validity of the scale used.
In Thailand, SERVQUAL was used by Surithong (1997, in Narit & Nagata, 2003) in her doctoral
dissertation to examine user expectations and perception of library service quality. She focused
on 3 areas: circulation; reference and computer information services. The instrument was an
adapted one used by Nitecki for academic library assessment. Her study’s contribution was that
the dimensions perceived most important by Thai library users were similar to users in the
United States, thus supporting use of SERVQUAL across different cultures. However, there was
no empirical testing of the validity and reliability scores of SERVQUAL items in this study to
render support for SERVQUAL‘s suitability in academic libraries.
In the same year, Coleman, Xiao, Blair, and Chollett, (1997) reported using the 22-item
SERVQUAL survey at the Sterling C. Evans Library at Texas A & M University. The sample
included faculty, staff, graduate students, undergraduate students and community users. They
also weighted the scores of the 100-point allocation criteria. It was found that even though the
8
five R.A.T.E.R. dimensions were extracted; neither reliability tests nor factor analysis was
carried out. The point scores identified reliability as the most important dimension, and tangibles
as the least important.
2.4 Quality Reliability:
The study on reliability analysis of a paper plant was meant to help the management to use
smooth functioning through timely decisions. The word reliability is commonly used in social,
business, economic, technical and political fields for building trust in persons, equipment, firm
and industry. First text book on reliability engineering appeared in literature in 1960 by Dummer
and Griffen, since thereafter plenty of research papers have been published so far in this field.
Professor, Verma and his research team Mohan et al. [8] have initiated the steps to explore the
field reliability in respect of technology at Delhi University, in 1962.
Reliability technology was for the first time used by Singh [9] to analyze the working system of
a production environment in 1976. Dhillon et al. [10] have described the concept of reliability
theory in their text book entitled, “Engineering Reliability-New Technique and Applications”, in
1981. Singh et al. [11] have calculated the working systems of availability which is used in daily
life, and his co-author studied the behavior of industrial process. Michelsen [12] has discussed
the need and for applications of reliability technology in a process industry. Kumar et al. [13, 14,
15] have studied the availability level for a number of subsystems in different process industries.
Agnihotri et al. [16] have explained reliability analysis and the use of a boiler in readymade
garment industry. Gupta et al. [17] have also studied the reliability and availability analysis in a
cement manufacturing industry and a butter oil manufacturing industry. In a continuous process
of research study, the work done in the past is of great importance, in future and forming the
foundation for the work. While carrying out any research, the different types of problems taken
up for investigation and the various approaches to solve problems are all quite important.
The development of the theory on reliability engineering has been reviewed through optimization
techniques. Furthermore, some important research articles having practical application has been
taken for review. Applications of mathematics, statistics and stochastic process have contributed
to the development of many models, which have real life applications. The importance of
reliability engineering for the systems was discussed almost half century back by Morse [18],
Barlow et al. [19] and Sandler [20]. Reliability must be considered as a useful tool for accessing
risk analysis, system design and studies on production availability. Numerous methods exist in
literature on reliability and availability analysis of production systems such as, Markov
Modelling (MM), Fault Tree Analysis (FTA), Monte Carlo Simulation (MCS), Reliability Block
Diagrams (RBD), Petri Nets Model (PNM) and Failure Mode and Effect Analysis (FMEA) were
proposed by Singer [21]. The following paragraphs have been excerpted from literature dealing
9
with different aspects of availability, maintainability and reliability analysis of complex

industrial systems.
The concept of redundancy is introduced for improving the reliability in the systems. Gupta et al.
[22] have investigated the behavior of reliability of a complex engineering system that connect
three subsystems in parallel redundancy by using Boolean function technique. Kapoor et al. [23]
have explained the effect of standby redundancy on system reliability. Time dependent for a
complex standby redundant system was calculated by Sharma [24] under preemptive repeat
repair discipline. Aven [25] has explained the availability for standby systems of an identical
unit. Misra et al. [26] have carried out the allocation of standby redundancy in series and parallel
systems.
Nakagava et al. [27] have developed the stochastic behavior of two unit priority standby
redundant systems. Singh et al. [28] have explained the availability of imperfect switch and
heating system with warm standby in sugar industry. Cafaro et al. [29] have introduced the use of
Markovian approach for evaluating the reliability and availability analysis of a manufacturing
system. Cherry [30] has discussed the reliability analysis of a chemical plant for calculating long
run availability an assumption of constant failure and repair time for different subsystems.
Dhillon et al. [31] have given a review of literature relating to analysis of a chemical system,
chemical refineries, ethylene plants, ammonia plants, chlorine plants, protective systems, boilers,
pumps, pressure tanks, valves and mechanical seals etc. Dekker et al. [32] have discussed the
importance of various analytical and simulation techniques for availability modelling and
effective assessment of a continuous production system with the main objective of economic
optimization. They stress on the issue of carrying on availability analysis at the component level
rather than targeting to the level of system. Arora et al. [33] have carried out stochastic analysis
of the power generation and coal handling systems in a thermal power plant along with Markov
chain. They have studied the performance of the system in three states viz. good, reduced and
failed states.
2.5 Quality Responsiveness:
OM literature has increasingly invoked the term responsiveness (Matson and McFarlane, 1999;
Storey et al., 2005; Holweg, 2005; Donk and Vaart, 2007), but we believe the conceptualization
of the term is still lagging. Table III shows some typical definitions identified in our literature
review from those papers in the operations literature that exhibit an explicit definition of
responsiveness. As before, while the compilation of definitions in Table III may not be
exhaustive or comprehensive, we chose them because we deem them to be sufficiently
representative of what we found in our review in terms of the progression in the understanding
and scope of the concept. Gindyetal.(1999) refer to responsiveness as the ability of a
10
manufacturing system to make rapid and balanced adjustments to the predictable and
unpredictable changes characterizing today’s manufacturing environment. These authors focus
on internal factory conditions and on internal operational outcomes. Barclay and Dann (1996)
define responsiveness as the ability to react purposefully, and within an appropriate timescale, to
significant events, opportunities or threats in order to achieve or maintain competitive advantage.
They also define the responsiveness scapability as the degree of responsiveness that a company
possesses or needs, i.e. its ability to react to and/or predict events in order to manage, control,
and take advantage of them. Importantly, however, these authors use the terms responsiveness
and agility interchangeably in their study.
Holweg(2005) presents one of the seminal attempts at differentiating responsiveness and

flexibility. His discussion was then among a few in the operations literature to explicitly
recognize the customer or the market as part of the domain of responsiveness. He articulates and
empirically identifies three determinant factors of responsiveness in supply chains, which he
calls “dimensions of responsiveness.” However, the objective of his study was neither to
establish a conceptual differentiation nor a formal conceptual definition of responsiveness at an
organization level, but to identify key factors influencing a supply chain’s capability to respond
to customer demand. More recently, Reichhart and Holweg (2007) observed that most authors
seem to link responsiveness exclusively to external events and concluded that responsiveness
should be considered as a concept which is solely customer focused. Accordingly, they define
responsiveness as the speed with which as ystem can adjust its output with in the available range
of four flexibility types (product,mix,volume and delivery) in response an external stimulus.
This notion of stimulus (connection with the customer) resonates with one of the major
components of responsiveness (stimuli) identified by Kritchanchai and MacCarthy (1999); the
other two being awareness and capabilities. Most of the literature, and the few explicit
definitions of responsiveness available in the literature, which are represented on Table III,
contain the notion of stimuli. This component is explicit in Reichhart and Holweg’s (2007)
definition and implicit in the terms customer’s needs and wants (Tunc and Gupta, 1993), requests
(Holweg, 2005), orders (Upton, 1995a), and market signal (Catalan and Kotzab, 2003)
encountered in most of the remaining definitions. Another major component found in most
definitions is the notion of time, which is explicitly captured by the terms timely
(TuncandGupta,1993;Chenetal.,2004), appropriatetime scale (Barclay and Dann, 1996), time-
effectively (Catalan and Kotzab, 2003) and is implicitly captured by the terms speed (Reichhart
and Holweg, 2007) and quickly (Upton, 1995b). This notion has its counterpart in the definition
of responsiveness found in another body of literature: the marketing literature defines customer
responsiveness as the action taken in response to intelligence that is generated and disseminated
(Slater and Narver, 1994; Kohli and Jaworski, 1990; Kohli et al., 1993; Narver and Slater, 1990).
11
For instance, Kohli and Jaworski (1990) indicate that responsiveness takes the form of selecting
target markets and designing and offering products/services that satisfy their current and
anticipated need. Marketing scholars initially conceptualized customer responsiveness as one of
the sub-dimensions of the customer orientation construct, whereas customer orientation is a
dimension of the market orientation construct (Kohli and Jaworski, 1990; Narver and Slater,
1990). Slater and Narver (1999) explain that customer orientation can be seen as a continuum of
behaviors regarding the development of, and responsiveness to, the needs of current and
potential customers.
However, Jayachandran et al. (2004) note that customer orientation need not necessarily result in
customer responsiveness, as the propensity to respond may not be matched by the corresponding
ability to respond. Recently, customer responsiveness has started to gain an independent research
prominence in the marketing literature (Martin and Grbac, 2003).
Reichhart and Holweg (2007) found support on Ackoff’s (1971) definition of system response,
from the management literature, to their observation that most authors link responsiveness
exclusively to external events (stimuli). Indeed, Holweg (2005) traces the origins of
responsiveness back to systems thinking in management. The management literature refers to
responsiveness as the ability to modify organizational strategies to match environmental threats
or opportunities (Weick, 1979; Tushman et al., 1986; van de Ven and Joyce, 1981). This stream
of literature focuses on organizational adaptation to the external environment. Additionally, the
strategy literature explicitly recognizes that organizations not only react passively to
environmental changes, but also attempt to change external constraints. This notion is exhibited
in Barclay and Dann’s (1996) definition from Table III: ... purposefully ... to bring about or
maintain competitive advantage. In general, the strategy literature presents a broad range of
conceptual definitions and applications of the responsiveness construct. For instance, Zaheer and
Zaheer (1997) relate their notion of responsiveness to the speed of strategic decision making and
suggest that responsiveness is a critical capability in fast-paced environments. Stalk (1988)
concurs by suggesting that responsiveness is one of the outcomes from implementing a time-
based approach.
Das and Elango (1995) define responsiveness as the nimbleness and swiftness of an organization
to explore external opportunities, while reducing the impact of threats. Williamson (1991)
suggests that responsiveness has two dimensions: variety and lead-time. Consonant with this
suggestion, Meehan and Dawson (2002) concluded from field work that managers regard
responsiveness as the ability to concomitantly meet customer needs and be rapid and proactive.
2.6 Quality Assurance:
12
If quality in higher education is most often defined today as “fitness for purpose”, as we have
seen above, quality assurance “refers to the policies, attitudes, actions and procedures necessary
to ensure that quality is being maintained and enhanced” (Woodhouse, 1999, p. 30). Quality
assurance is intended to ensure accountability and/or to bring about improvement (Canadian
Council on Learning, 2009; Harvey, 1998). Accountability is most often associated with external
stakeholders, such as state and regional accrediting bodies, governmental agencies and the
public, while improvement—or enhancement—focuses on internal processes:
“Quality occupies the middle ground between the external and the internal; a philosophy or
system that focuses and guides the interaction between the external calls for increased
accountability and the internal efforts of an organization that is addressing it” (Koslowki, 2006,
p. 280).
Although they are not synonymous, the terms “quality”, “accountability” and “assessment” are
often used interchangeably (Koslowski, 2006). Drawing primarily on work by Woodhouse
(1999), the following section provides an overview of quality assurance processes and attempts
to clarify the meaning of these terms.
Accountability requires quality measures, metrics or performance indicators, typically defined as

inputs, outputs or outcomes. The processes of accreditation, audit and assessment are used to
gather data in order to provide evidence of accountability by answering the following questions:
• Are the institution’s objectives appropriate?

• Are its plans suitable for these objectives?
• Do its actions conform to its plans?
• Are its actions effective in achieving its objectives?
• What is the measure of the objectives? (Woodhouse, 1999, p. 33)
Accreditation determines whether an institution or program meets threshold quality criteria by

examining the mission, resources and relevant processes of the institution or program.
Assessment, often called “evaluation”, measures the quality of outputs. Audit, sometimes
referred to as a “review”, verifies:
• The suitability of the planned quality procedures in relation to the stated

objectives;
• The conformity of the planned quality procedures in relation to the stated

objectives; and
13
• The effectiveness of the activities in achieving the stated objectives.

(Woodhouse, 1999,pp. 30-31)
Although audit, assessment and accreditation represent three distinct concepts and processes,
they may coincide, merge or mingle, and “any attempt to make a precise definition is further
confused by the fact that most of these terms are also used generically to refer to any review or
evaluation process” (Woodhouse, 1999, pp. 33-34). Accreditation, Assessment, Audit. Five Point
Checking Sequence clarifies the relationship between these three concepts.
2.7 Quality Empathy:
The term ‘empathy’ was coined over one hundred years ago by Titchener, an adaptation of the
German word Einfühlung (Wispé, 1986). According to Stotland and colleagues, discussions of
empathy may even date back to “the beginnings of philosophical thought” (Stotland, Matthews,
Sherman, Hansson, & Richardson, 1978). Despite this extensive history, empathy is not a well
defined notion. Instead, there are perhaps as many definitions as there are authors in the field
(Decety & Jackson, 2004; de Vignemont & Singer, 2006).
Several problems result from this fact. Firstly, when interpreting research findings relating to
‘empathy’, one must first determine precisely what is being studied, and the degree of confusion
with related concepts. This can make the interpretation of outcomes difficult, compromising the
comparability of studies (Brown, Harkins, & Beech, 2012; Gerdes, Segal, & Lietz, 2010).
Secondly, there appear to be differences in the way researchers and practitioners conceptualise
empathy (Mann & Barnett, 2012), leading to a mismatch between the way empathy is researched
and dealt with in treatment and education programmes that aim to enhance empathy. Thirdly,
therapeutic difficulties can arise when concepts are understood differently (Book, 1988; Clark,
2010), with some understandings of empathy having greater therapeutic effectiveness than others
(see Clark, 2010; Nightingale, Yarnold, & Greenberg, 1991). These issues, and suggestions for
their resolution, are discussed further towards the end of this paper.
While definition diversity should not necessarily be discouraged (e.g., Duan & Hill, 1996),
efforts should be made to draw together knowledge to improve our understanding and to reduce
confusion in the field. Although “there is no way to ascertain which definition is correct”
(Eisenberg et al. (1991, 64), it is possible to compare and contrast how empathy is
conceptualized, and discuss any differences, examining competing viewpoints in light of the
current knowledge-base. The purpose of this paper is to explore the range of current
conceptualizations of empathy and present a discussion outlining similarities that are supported
in the literature, and to formulate a new conceptual summary of empathy that can be used by
future researchers/practitioners.
Several notable attempts have been made to differentiate empathy from a range of associated
concepts (see Batson, 2011; Eisenber, Shea, Carlo, & Knight, 1991; Scheler, cited in Becker,
1931). Others (e.g., Batson, Fultz, & Schoenrade, 1987; Preston & de Waal, 2002) denote
empathy as an overarching category, containing all associated concepts such as emotional
14
contagion, sympathy, and compassion. To explain why empathy is commonly merged with
associated terms, Ickes (2003) utilized Scheler’s (cited in Becker, 1931) discussion on the related
concepts of compathy (shared feelings due to shared circumstances), empathy (understanding
another’s emotions through perspective taking), mimpathy (imitating another’s emotions,
without experiencing them oneself), sympathy (intentionally reacting emotionally), transpathy
(emotional contagion, where one is ‘infected’ by another’s emotions), and unipathy (an intense
form of transpathy). According to Ickes, such terms differ across three dimensions: the degree of
cognitive representations of the target’s emotional state; the degree of emotion sharing; and the
degree to which a self-other distinction is maintained. Ickes noted that empathy is located in the
mid-range for all three of these dimensions, and that the meaning of this term “has an inherent
ambiguity that invites the kind of definitional debates that have continued since the term
Einfühlung was first introduced nearly a century ago.” Nevertheless, Ickes (and Scheler) claimed
that although such terms are related, there is an argument for their separation.
15
Chapter 3
Company Overview
3.1 Background of Prime Bank Limited:
Generally by the word “Bank” we mean a financial institution dealing with money. A bank can
be defined as a financial organization which receives, collects, transfers, pays, exchanges, lends,
invests, or safeguards money for its customers. In the backdrop of economic liberalization and
financial sector reforms, a group of highly successful local entrepreneurs conceived an idea of
floating a commercial bank with different outlook, from where Prime Bank was created.
The Prime Bank Limited is scheduled bank that was incorporated under the companies Act 1994,
established in April 1995 by a group of visionary entrepreneurs, which is known for its superior
service quality, brand image, strong corporate governance and corporate culture. It is now one of
the banks in Bangladesh which follows international standard in Banking and Finance. Prime
Bank has already made significant progress within a very short period of its existence. The bank
has been graded as a top class bank in the country through internationally accepted CAMELS
rating. The bank has already occupied an enviable position among its competitors after achieving
success in all areas of business operation.
Prime Bank offers all kinds of Commercial Corporate and Personal Banking services covering
all segments of society. Diversification of products and services include Corporate Banking,
Retail Banking and Consumer Banking right from industry to agriculture, and real state to
software. The bank is operating successfully through general banking, Islamic banking, SME
banking, NRB banking, off-shore banking and has six fully owned subsidiary companies namely
Prime Bank Investment Limited, Prime Bank Securities Limited, Prime Exchange Co. Pte Ltd,
PBL Exchange (UK) Limited, PBL Finance (Hong Kong) Limited, Prime Bank Foundation. The
Bank has already made a distinct mark in the realm of Private Sector Banking through
personalized service, innovative practices, dynamic approach and efficient Management. The
Bank, aiming to play a leading role in the economic activities of the country, is firmly engaged in
the development of trade, commerce and industry thorough a creative credit policy.
3.2 Vision Statement:
A vision statement identifies what the company would like to achieve or accomplish for the
midterm or long term future. Each and every organization has a vision and mission based on that
they are conducting their business to reach the desire position and contribute their level best to
reach the ultimate destination. Prime Bank Ltd has also a vision which states that- “To be the
best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy, asset
quality, sound management and profitability having strong liquidity.”
16
3.3 Mission Statement:
Mission Statement of Prime Bank Limited is-
“To build Prime Bank Limited into an efficient, market-driven, customer focused institution with
good corporate governance structure.”
“Continuous improvement of our business policies, procedure and efficiency through integration
of technology at all levels.”
3.4 Corporate Philosophy:
For our Customers:
 To provide the most courteous and efficient service in every aspect of its business. To be
innovative in the development of new banking products and services.
For our Employees:
 By promoting their well-being through attractive remuneration and fringe benefits.
 By promoting good staff morale through proper staff training and development, and
provision of opportunities for career development.
For our Shareholders:
 By forging ahead and consolidating its position as a stable and progressive financial
institution.
 By generating profits and fair return on their investment
For our Community:
 By assuming our role as a socially responsible corporate citizen in a tangible manner by

adhering closely to national policies and objectives thereby contributing towards the
progress of the nation.
 By upholding ethical values and best practices.
 Constantly seeking to improve performance by aligning our goals with stakeholders’
expectations because we value them.
17
3.5 Strategic Priority:
 Diversify loan portfolio to avoid excessive concentration to particular sectors as well as

to invest funds in productive industries.
 Need to grow business in SME and Retail portfolio development at least by 36%
 Economic capital frame work to be implemented to derricking the Balance Sheet for the
potential unexpected losses that are associated with each individual activity.
 Greater emphasis to serve potential and unbanked population of the country providing
banking services to under-served areas with the scaling up of various pilot initiatives.
 Allocation of capital through customer account review and transaction analysis and upon
determining of risk-adjusted return on capital (RAROC) concepts basis.
 Strengthening of Information Security Department to ensure secure technology in

banking to enable safer banking service to customers.
 Monitoring and strengthening of recovery drive to bring down the NPL below 3% to
maintain asset quality at standard level
 Formation of Head line Corporate Business Team to provide one stop service to top 50
customers to ensure better services with maximum satisfaction for more business
 Maintain strong capital base by expediting borrowers’ rating, concentrating on lending

portfolio having lower capital charge, strengthening Internal Capital Adequacy
Assessment Process (ICAAP)
 Improvement of deposit mix by maintaining efficient deposit mix, increase share of low
cost and no cost deposit in total deposit, increase non-funded business
 Improve internal governance through strengthening good corporate cultures, motivation,

training and supervision as per KPIs in all levels of management
 Conduct BPR (Business Process Re-engineering) in different functional areas to improve

efficiency and bring in required structural change Integrated marketing effort by creating
a customer-orientated culture, Branch archaeology study (in-depth research for brand
strategy development), Brand Repositioning and extensive marketing for branding
“Hasanah”
 Development in Human Resource Management System to motivate and retain the Human
Resources and transform Human Resources to Human Capital through proper training in
every aspects of working area
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3.6 Ethics, Integrity and Trust:
Banking deals with public money where Ethics, Integrity and Trust is utmost important. Prime
Bank upholds these principles in every section by its management and customer service. The
following are the key principles of Employee Codes of Ethics and Business Conduct:
 Provide service to customers with uncompromising integrity, utmost respect, unwavering

responsibility and dedicated citizenship
 Protect privacy and confidentiality of customer information
 Prevent money laundering and fraud
3.7 Product & Services:
The product and services offered by Prime Bank Limited to grab the attention of the customer
are listed bellow-
3.7.1 Retail Banking:

When a bank executes transaction directly with customers rather than corporations or other
banks then it is known as retail banking. Retail banking service of Prime Bank Limited include
A. Deposit: One can place their money in Prime Bank for safekeeping. Bank deposits are
made to deposit accounts at Prime Bank, such as:
 Saving Account: Prime Bank brings the ultimate trust, security and convenience for the
customers in Savings Account. Any Bangladeshi national with an age of 18 years or
above can open this.
 Current Account: Prime Bank brings Current Account in Taka which can be freely
deposited and withdrawn. At the time of opening, this account is also accompanied by a
Special Notice Deposit (SND) account.
B. Deposit Schemes: Prime Bank Limited has different types of attractive deposit scheme
for their valued customers. Which are-
 Double Benefit Deposit Scheme: The deposit scheme shall be issued for 6 years 6
months term. After 6 years 6 months, terminal value will stand at Tk. 2 lacs from the
initial fixed deposit of Tk. 1 lac. Minimum deposit is Tk. 10,000/- and multiples thereof
with no ceiling on the upper limit at a time will be acceptable under this scheme.
19
 Monthly Benefit Deposit Scheme: This is a Deposit Scheme where the depositor gets a
fixed amount of profit every month without disturbance of the principal. Deposit of Tk.
100,000.00 and multiples thereof and maximum Tk. 25.00 lac shall be acceptable for the
Scheme. The Deposit shall be for a period of 1/2/3/5/7/10 years. The Principal amount is
refundable on maturity.
 House Building Deposit Scheme: The tenor of the House Building Deposit Scheme will
be 5/7/10 years. Minimum Equity building amount shall be Tk. 10.00 lac and maximum
amount shall be 20 lac. HBL facility shall be considered on maturity upon application up
to three times the equity but not exceeding Tk. 50.00 lac on compliance of loan
formalities.
 Education Savings Scheme: The instrument shall be issued for 5 years. Deposit of Tk.
50,000/- and multiples thereof and maximum Tk 5.00 lac at a time will be accepted under
the Scheme.
 Lakhopati Deposit Scheme: The tenor of the Lakhopati Deposit Scheme will be
3/5/10/15 years. Monthly installment shall be Tk. 2,400.00/Tk. 1,285.00/Tk. 500.00/Tk.
250.00 for the tenor of 3/5/10/15 years respectively. Terminal amount on maturity shall
be Tk. 1.00 lac.
 Prime Millionaire Scheme: Monthly installment shall be Tk. 12,050.00 /Tk.

7,500.00/Tk. 4,215.00/Tk. 3,015.00 for the tenor of 5/7/10/12 years respectively.
Terminal amount on maturity shall be Tk. 10.00 lac.
 Contributory Savings Scheme: The Deposit shall be for a period of 5 years. Minimum
size of monthly installment shall be Tk. 500/- and multiplies of Tk. 1000/-. Maximum
installment size shall be Tk. 24,000/. Loan may be allowed up to 80% of the deposited
amount against lien on the same after at least 2 (Two) years of regular payment of
installments and minimum limit of the loan shall be Tk. 50,000/-.
 Laksma Puron Savings Scheme: Minimum desired amount is BDT. 50,000. A customer
can desire any amount in multiples of BDT. 10,000 i.e. BDT. 50,000/60,000/70,000 etc.
Individual, Joint and Corporate Account can be opened. Depositor(s) can avail loan/
overdraft facility against pledge of Deposit Receipt up to 80% of the deposited amoun
upon after completion of at least 1 year.
 Account 150%: Deposit will be estimated 1.5 times of the initial deposit. The tenure of
the investment period will be 3 years and 5 months. Minimum deposit amount BDT.
10,000.00. any amount in multiple of BDT. 10,000.00 will be allowed to invest in the
scheme. Any amount equivalent to 1 crore or more will be provided special incentives
such as free Platinum card, internet banking facilities, free ATM Card etc.
20
C. Loans:
There are various types of loan services provided by the Prime Bank Limited to its customer for
business or other purposes. These are given below-
 Swapnaneer Home Loan

 Swapnashaj Home Loan
 Swapnapuron Home Loan
 Abash Home Loan
 Car Loan
 Any Purpose Loan
 CNG Conversion Loan
 Doctor's Loan
 Marriage Loan
 Travel Loan
 Household Durables Loan
 Hospitalization Loan
 Education Loan
 Loan against Salary
 Carnival Loan
D. Cards:
Prime Bank provides different types of Debit card and Credit card to its customer as per their
requirements to enliven their lifestyle.
I. Debit Card:
 Prime Bank Master Debit Card
 Prime ATM Card
II. Credit Card:
 Master Card Gold Credit Card

 Visa Gold Credit Card
 Master Card Silver Credit Card
 Visa Classic Credit Card
 International Credit Card
 Platinum Credit card
21
E. Locker Service:
Prime Bank offers modern locker facility for safekeeping of valuables, jewellery, documents and
other precious things. It’s a secure and confidential service. Lockers are available in three size -
Small, Medium and Large.
Sizes and Rents of Lockers:

Small Size: Tk. 2500 / Year
Medium Size: Tk. 3000 / Year
Large Size: Tk. 3500 / Year
F. Internet Banking: ALLTITUDE:

For ongoing demand of modern Banking Prime Bank Limited provide the best service to their
customer’s door from anytime, anywhere and any place among the Banking or financial arena.
“ALTITUDE” is the latest real-time internet banking service of Prime Bank Limited where
customer can access 24/7 instant Banking services through internet. There are so many key
features of this service. “ALTITIDE” is highly secured which has been acknowledged and
certified by VeriSign the World most renowned Certificate Authority (CA). Development and
implementation of “ALTITUDE” have really opened a new era of Banking for the customers of
Prime Bank Limited as the slogan of Internet Banking “ALTITUDE” perfectly describes “FEEL
THE DIFFERENCE” as well as adds value to the Bank Business.
G. Phone Banking:
Phone Banking Service provides 24/7 continuous support for the customers. The main services
are Balance Inquiry, Change PIN, Activate ATM / Master Card, Block ATM / Master Card,
Credit card available Limit check, Credit Card total outstanding check, Credit Card minimum
payable amount check, Credit Card Last Statement Generation Date and Credit Card last date of
payment check.
H. Utility Bills Pay Services:

Prime Bank Utility Bills Pay service will enable to pay post-paid cell phone bills flexibly.
Customer can avail the service at Prime Bank ATM booths or Information Kiosks round the
clock. They need no to visit branches and bother standing in a queue not even need to carry cash
to clear the bills. Prime Bank ATM/Master Debit Card holders can avail the service and make
payments anytime at any Prime Bank ATM Booth free of charge.
I. SMS Banking:
Prime Bank brings SMS Banking services to ensure instant access to customers account
information at any time. Any mobile phone user having account of Prime Bank can get the
22
service through the mobile phone upon registration. Balance Inquiry, Mini statement, Exchange
Rate, Pin change, requesting help etc are the services what SMS Banking offer.
J. Mobile Banking:
EasyCash, Prime Bank Mobile Banking Service is a secured mobile financial service to access
cash easily and conveniently using mobile phone technology. EasyCash can be accessed from
anywhere at any time including remote rural areas of the country. The EasyCash Account model
of Prime Bank works on the fundamental principle of giving everyone an access to a bank
account and adding value to lifestyle of customers irrespective of social strata in Bangladesh.
K. Cash Back Service:

Cash Back Service allows the debit cardholders of Prime Bank to meet instant requirement of
cash through POS terminals of selected merchant points while shopping.
3.7.2 Corporate Banking:

There are four units under Corporate Banking Service:
1. General Credit Unit:
Prime Bank gives the credit facilities to finance current assets and loans to finance fixed assets in
the form of Working Capital Finance, Capital Machinery Finance, and Real Estate Finance,
Work order Financing/Construction Business, Import and Trade Finance. General Credit
Products & Services are:
 Short-term Finance
 Long-term Finance
 Real Estate Finance
 Import Finance/Trade Finance
 Work Order Financing/Construction Business
2. Export Finance Unit:
Prime Bank always gives priority to its export-oriented customers. To provide complete banking
solutions to export-oriented customers Prime Bank has a separate Export Finance Unit. Different
export-oriented companies comprising of Textile, Spinning, Knit, Woven, Sweaters, Jute,
Leather, Fisheries and Trim/Accessories manufacturers are getting prompt banking services
through our 27 AD branches, 3 OBUs and other non-AD branches under active support form
Export Finance Unit, Head Office.
23
3. Structured Finance Unit:
Prime Bank offers customized, friendly, and flexible financial solutions to customers and strives
to ensure financing package in a cost-effective manner. Structured Finance Unit deals with
project financing and covers virtually every sector of the economy with a focus on infrastructure
projects, project finance, acquisition finance, securitization, and advisory services.
4. Lease Finance Unit:
Prime Bank provides one of the most convenient long term sources of loans in the industry for
acquiring capital machineries and equipment under lease financing. It is a very popular scheme
whereby a customer is given the opportunity to have an exclusive right to use an asset, usually
for an agreed period of time, against payment of installments.
3.7.3 Islamic Banking:

Prime Bank started its operations in the year 1995 as 'A bank with a difference', blending its
conventional banking system with that of Islamic Banking operations based on Shari'ah
principles. Five of the branches of the bank provide Islamic Banking operations to serve the
increasing demand of customers for Islamic products and services. In the year 2008, the bank
has taken initiative to identify all of its Islamic banking activities by adopting a generic name of
'Hasanah' - the brand name for Islamic products and services of the bank.
1. Hasanah Deposit Products:
Hasanah Deposit Products are:

 Al-Wadeeah
 Al-Wadeeah Current Account
 Al-Wadeeah Concept
 Mudaraba
 Saving Account
 Term Deposit
 Schemes
 Mudaraba Concept
2. Hasanah Investment Products:
Investments:
Hasanah Home Investment (Manjeel)

Hasanah Auto Investment (Burak)
Hasanah Household Durables Investment (Asbab)
Hasanah Medical Investment (Shifa)
24
3.7.4 SME Banking:

For small and medium enterprises Prime Bank Limited offered different types of loan to
contribute to the growth in Bangladesh. Those are given below-
 Sahaj Rin (Collateral Free Loan)

 Sampad Rin (Capital Loan)
 Chalti Rin (Working Capital Loan)
 Moushami Rin (Seasonal Loan)
 Digun Rin (Double Loan)
 Anchol (Women Entrepreneurs' Loan)
 Prime Subidha Rin
 Prodip Rin
3.7.5 NRB Banking:

Prime Bank has set the highest priority to mobilize inward foreign remittance of Non-Resident
Bangladeshi Nationals (NRB) living and working in different parts of the world. Their
remittance service is Easy, Fast and Secured. The name of those services are-
 Foreign Remittance Services

 Account Facilities for NRBs
 Exchange Houses
 Wire Transfer Facilities
 Remittance and Fund Transfer
3.8 Awards & Achievements:

Prime Bank Limited has got lots of awards and achievements because of its sustained financial
performance and product management. Some awards are-
 12th Bangladesh Awards DHL -The Daily Star

 The BIZZ 2012 Inspirational Company Award
 ICAB National Award 2010-Best Published Accounts & Reports
 SAFA Award 2010-Best Published Accounts & Corporate Disclosures in Banking Sector
 ICMAB Best Corporate Award 2010
 International Star for Leadership in Quality (ISLQ) Award 2010-Business Initiative
Directions (B.I.D.) Paris, France
 Prime Bank wins 1st Prize in 11th ICAB National Awards
 ICAB National Awards-2003 for Best Published Accounts and Reports Second Prize
Financial Sector (Banking)
 FNS Award-2005 Best Performing Local Bank
25
3.9 Corporate Social Responsibility:

Investment in Education:
1. Education Support Program: Believing education as a tool for social change, Prime Bank
Foundation is launched an Education Support Program in 2007 for underprivileged but
meritorious students from across the country.
2. Prime Campus: Prime Campus, an English medium school in Uttara, Dhaka, was created by
Prime Bank Foundation in 2008 as an alternative to the expensive English primary schools at an
affordable charge schedule.
Work with Handicap Population:
Investment in eradicating and preventing different disabilities such as drug addicts, blindness etc;
setting up vocational training centers; undertake mass awareness raising campaigns etc.
Dristy Daan Project:
Setting a target of sight restoration of 1200 poor/ultra poor citizens of the country, the Prime
Bank Foundation started off the Dristy Daan project in 2007. A total of 1357 poor/ultra poor
cataract patients were operated till date.
Health Care:
Prime Bank support hospital like Vellore CMC Health Care, Universal Health Care Centers; Eye
Hospitals; Health Support to garment workers the bank provides health centers and a teachers’
training college under Diabetes Association of Bangladesh. The bank has also provided financial
support to a socio-medical project "healthline" (accessible by dialing "789" from Grameen Phone
network) by Telemedicine Reference Center Limited (TRCL) The bank supported TRCL to start
an Intensive Diabetes Management (IDM) services program in Bangladesh under "amcare".
Environment:
Activities related to the prevention of environment degradation and promotion of environment;

support people living in the coastal and ‘char’ areas etc.
Support Martyr Family:
Prime Bank supported the Martyr families of BDR carnage and donated Tk 2.5 million to Prime
Minister’s Relief Fund.
Games and Sports:
26
Financial assistance was provided to Bangladesh Cricket Control Board for development of the
game. The Bank participated in major sponsorship programs viz. Golf, Tennis to popularize the
same among the public.
Other CSR activities of the Bank:
 Donations of Passenger cum bed lift to Sylhet Diabetic Association Hospital.

 Sponsoring 20 KVA Diesel Generator for Department of Dhaka University
 Construction of Shahbag Foot Over Bridge
 Awareness Campaign at the three international airports of the country against swine flu.
 Improvement at Kamalapur Railway Station, Dhaka
 Blankets and winter-clothes distribution among the winter distressed people of the
society
3.10 Financial Performance of Prime Bank Limited:
3.10.1 Credit Rating:
CRISL reaffirmed long term rating of PBL to “AA” and short term rating to “ST-2” based on
financials up to December 31, 2013.
Rating by Crisl:
27
3.10.2 Profit of PBL:
On December 31, 2013 the profit after tax of PBL is 1829 million taka which was 2699 million
taka last year and 3634 million taka in 2011.Profit of PBL is in decreasing trend.
3.10.3 Capital (Authorized & Paid-Up):
The authorized capital has stood at TK 25,000 million as on 31st December 2013 and paid up
capital stood at TK. 10,293 million.
28
3.10.4 Shareholder’s Equity:
On December 31, 2013 the total amount of shareholder’s equity is 23,030 million taka, which
was 20,787 million taka last year, which is in an increasing trend.
3.10.5 Investments:
The total amount of investment is 56,940 million taka on December 31, 2013 which was 49,670
million taka in 2012. The amount has increased by 7,270 million taka. The notable investment
represents development in Treasury bills and shares, Prize bond and others.
29
3.10.6 Total Asset:
Total asset of PBL is in increasing trend. On December31, 2012 it was 236,833 million taka and
in 2013 it has became 243,869. The amount has increased by 7,036 million taka.
Opportunities:
An organization’s opportunities are positive external environmental factors. An organization
should explore all possible opportunities available to it. These opportunities are intended to
improve the organization. By making improvements, the organization should be able to become
more competitive in the market. The following are opportunities available to Prime Bank in
order for it to become more aggressive.
 Branch Expansion: Prime Bank Limited is growing quickly all over the country.
Besides expanding in the urban areas, Prime Bank Limited has prospects to open more
branches that will eventually enhance the government’s effort at receiving the rural
economy as well as reaching more people by better service.
 Training Facility: Prime Bank Training Institute (PBTI) is supporting the bank by
offering in house training courses, workshops and seminars. As the bank has its own
training institute to enhance the capability of human resources, Prime bank Limited can
use this opportunity to train their employees in specific areas and create specialized and
expert people for the bank.
 Banking Software: Quality service providing is a major goals of Prime bank limited.
The bank has the prospect to select high quality banking software, which will make the
banking operations easier and smooth.
30
Threats:
An organization’s threats are negative external factors. An organization should explore all
possible threats available to it. These threats are intended to diminish the organization. By
making improvements and proper monitoring of the threats, the organization should be able to
turn more competitive in the market. The following are threats are available to Prime Bank in
order to threaten its existence.
 Level of Competition: Competition is always a major threat for any organization. In

recent years, the number of private bank is increasing. These banks always pose a threat
for others by coming up with new product line, innovative technology, quality services,
etc. Thus, the level of competition rises and creates threats for Prime Bank Limited.
 Profit Declining: Now-a-days different foreign and private banks are also offering similar
type of products with an almost similar profit margin. So, if all competitors fight with the
same weapon, the natural result is declining profit.
3.11 Human Resource of Prime Bank Limited:
An organization cannot build a good team of working professionals without good Human
Resources. The key functions of the Human Resources Management (HRM) team include
recruiting people, training them, performance appraisals, motivating employees as well as
workplace communication, workplace safety, and much more. Prime Bank has a HR Department
and they work in the main branch of Motijheel. Prime Bank’s human resources policy give
emphasis to on providing job satisfaction, growth opportunities, continuous development of
human resources, identify the strength and weakness of the employee to assess the individual
training needs, they are sent for training for self development. The bank organizes both in-house
and external training.
3.11.1 HR Vision:
Managing an organizational culture where employees enjoy working with pride and are strongly
motivated to gain and maintain professional excellence to convert the human resource into
human capital.
HR Principles:
 Talent Resourcing, Learning and Development Culture: Prime Bank Limited has
different programs covering on-the job and off-the-job training at home and abroad to
develop their employees. Well-balanced job rotation and training are ensured while
employees join in any stream of banking.
 Open and Fair Evaluation System for Employees: PBL manage an evaluation system
that clearly links individual performance to their business goals and priorities. They
31
manage an evaluation system based on the records of periodic counseling and

achievements of the employees tracked over the year. For higher objectivity and
openness, besides the immediate supervisor, each employee is screened by the next
higher level (reviewer).
 Competitive Compensation Package: PBL provides compensation and benefits package

which matches employees’ desires including basic salary, provident fund, gratuity,
housing allowance, medical allowance, conveyance allowance, group insurance,
employees’ welfare fund, leave fair assistance and other admissible facilities those match
individual job role and designation as per banking policy.
 Performance Bonus: PBL pays high performers with a certain level of profitability.
Every year PBL pays for the high performers when company hits a certain level of
profitability. It is also based some other additional criteria like the team's success and the
individual's performance.
 Knowledge Sharing and Open House Discussion: Ideas rule the world and ideas make
money; even an idea can change our lives. The lines written here is very true, PBL
believe. PBL promote, recognize and execute great ideas and thus they have different
sessions of knowledge sharing, suggestion box, open house discussion and employee-
management discussion.
Selection Process:
Recruitment and Selection Process for Fresher’s includes:
 Inviting Applications
 CV Screening
 Written Test
 Face-to-Face Interview (2/3)
 Selection and Offer Letter
 Medical Examination
 Joining
Recruitment and Selection Process for Lateral Entrants includes:
 Inviting Applications
 CV Screening
 Face-to-Face Interview (2/3)
 Selection and Offer Letter
 Medical Examination
 Joining
32
Chapter 4
Findings and Analysis
4.1 Demographical Discussion of the Respondent:

Demographic analysis includes the set of methods that allow measuring the dimensions and
dynamics of populations. These methods have primarily been developed to study human
populations, but are extended to a variety of areas where researchers want to know how
populations of social actors can change across time through processes birth, death and migration.
4.2 Frequency:
Is the number of occurrences of a repeating event per unit of time. It is also referred to as
temporal frequency, which emphasizes the contrast to spatial frequency and angular frequency.
Descriptive Characteristics Frequency Percentage
Gender: Male 60 60
Female 40 40
Education: Secondary Education 8 8
Higher Secondary Education 8 8
University 32 32
Postgraduate 52 52
Age: 18-30 Years 36 36
31-40 Years 40 40
41-50 Years 20 20
Above 50 Years 4 4
Analysis:
Based on the survey, the male respondents represented 60 percent of the male respondents while
female respondents represented 40 percent. Here 8 percent respondents are Secondary Education,
8 percent respondents are Higher Secondary Education, 32 percent respondents are University
and 52 percent Postgraduate. The age distributions of the respondents were: (1) 18-30 Years 36
33
percent; (2) 31-40 years 40 percent; (3) 41-50 years 20 percent; and (4) Above 50 years 4
percent.
4.3 Descriptive Statistics:

Descriptive statistics are brief descriptive coefficients that summarize a given data set, which can
be either a representation of the entire population or a sample of it. Descriptive statistics are
broken down into measures of central tendency and measures of variability or spread.
Descriptive Statistics
Std. Rank
N Minimum Maximum Mean Deviation
Tangibles 100 2.50 5.00 4.0600 .64071 4
Reliability 100 2.40 5.00 4.1040 .69891 5
Responsiveness 100 2.50 5.00 4.1400 .63992 3
Assurance 100 2.50 5.00 4.2100 .56711 1
Empathy 100 2.40 5.00 4.1920 .61096 2
Valid N (listwise) 100
Analysis:
All constructs were assessed through a 5-point-Likert-type scale ranging from “Strongly Agree”
(5) to “Strongly Disagree” (1).
Based on Table, Assurance has the highest mean among all the constructs at 4.2100, this shows
that the average level of agreement on Assurance are more towards “Strongly Agree”. On the
other hand, the lowest mean among all the constructs is Tangibles at 4.0600, which indicate that
average responses on Tangibles are slightly more toward “Agree”. The remaining constructs
have similar level of agreement in which the mean score are slightly towards “Agree”. Overall,
the average levels of agreement for all the constructs are more on “Agree”.
34
4.4 Reliability:
The ability of an apparatus, machine or system to consistently perform its intended or required
function or mission on demand and without degradation or failure
Name of Variable Cronbach’s Alpha N of Items
Tangibles .853 4
Reliability .868 5
Responsiveness .824 4
Assurance .799 4
Empathy .865 5
Total 0.945 22
Analysis:
According to the given questionnaire I found 5 major objectives regarding Tangibles, Reliability,
Responsiveness, Assurance, and Empathy based on those objectives. I find out total of their
reliability Cronbach’s Alpha value is 0.945; according to rule is its fit because the values cross
0.65.
35
Chapter 5
Problem and Recommendation
 The Interior design of prime bank is not well furnished. Physical Evidence of a Bank has
a great Impact in consumer mind. Their Furniture’s and Internal decoration is not up to
the mark. Which is outdated than other bank, it attacks on customers mind at the first
place.
 One of the major issue of prime bank is their ATM Booth, most of the time their ATM
booth doesn’t work and which causes customers a lot of trouble. If they didn’t get money
when they need it they will switch to better options. Which causes Prime Bank to lose
their customers.
 After completing the survey it is also become clear that their Online Database is also
poor. Most of the time it take a lot of time to complete a transaction. Sometime the
verification code doesn’t appear on customers mobile so that they can’t do further
transaction.
 In their bank customer faces many trouble due to their Queue system, People need to
stand in a long line to complete their task that make them dissatisfied, which need to be
fix to acquire customer satisfaction.
 They employer should be more trained to give customer a proper solution for their
problems. Individual attention should be improved. And their behaviors should need to be
developed.
36
Chapter 6
Conclusion
Prime Bank limited is one of the modern and leading commercial bank in Bangladesh. They are
committed to provide high quality financial services and products to the customers and play an
important role in the process of economic growth of the country. The Bank is operating
efficiently with its existing products and services. The emergence of fierce competition and
adverse economic condition has forced the bank to be innovative in offering its products and
customer services. Service quality is a critical component of customer perceptions. In the case of
pure services, service quality will be the dominant element in customers‟ evaluations. Profit of
the bank will come, if there are large and big corporate customers. These customers will remain
with the bank if service quality is superior. So Prime Bank Limited will have to ensure quality
service in every single branch. For quality service Prime Bank Limited will have to solve
problems of their customers. Every single and silly mistake can spoil their business. To provide
quality service Prime Bank Limited will have to leave traditional method of banking. In this
competitive world this sector has expanded its wings widely enough to cover any kind of
financial services anywhere in the world. So Prime Bank Limited should take effective measures
to satisfy customers.
According to the survey, the services which the Bank provides to their clients are very prompt
and quality one compare to other banks. So Prime Bank is the bank, which will survive in the
banking sector of the world on the slogan "A Bank with a difference".
37
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41
Appendix:
Questionnaire on Service Quality and Customer Satisfaction of a Bank
Gender: Age : Education Level:
1. Male 1. 18-30 1. Primary Education

2. Female 2. 31-40 2. Secondary Education
3. 41-50 3. Higher Secondary
4. above 50 Education
4. University
5. Postgraduate
Following is a list of different items. To what extent do you agree with the following
statements?
Please give tick (✓) mark in the response column. Choose any number from 5 to 1.
Strongly Agree Neutral Disagree Strongly

NO Tangibles Agree Disagree
TA_1 The bank has modern looking equipment. 5 4 3 2 1
TA_2 The Bank’s physical facilities are visually appealing. 5 4 3 2 1
TA_3 The Bank’s reception desk employees are neat appearing. 5 4 3 2 1
TA_4 Materials associated with the service (such as pamphlets or 5 4 3 2 1

Statements) are visually appealing.

NO Reliability Agree Disagree
RE_1 When the bank promises to do something by a certain time, Does 5 4 3 2 1
it do so?
RE_2 When you have a problem, the bank shows a sincere interest in 5 4 3 2 1
Solving it.
RE_3 Does the bank perform the service right the first time. 5 4 3 2 1
42
RE_4 Does the bank provide its service at the time it promises to do so. 5 4 3 2 1
RE_5 Does the bank insist on error free records. 5 4 3 2 1

NO Responsiveness Agree Disagree
RES_1 Employees in the bank tell you exactly when Services will be 5 4 3 2 1
performed.
RES_2 Employees of the bank give you prompt service. 5 4 3 2 1
RES_3 Does the Employees are always willing to help you. 5 4 3 2 1
RES_4 Employees are never too busy to respond to your request. 5 4 3 2 1

NO Assurance Agree Disagree
ASS_1 The behavior of employees instills confidence in you. 5 4 3 2 1
ASS_2 You feel safe in your transaction with the bank. 5 4 3 2 1
ASS_3 Employees in the bank area consistently courteous with you. 5 4 3 2 1
ASS_4 Employees of the bank have the knowledge to Answer your 5 4 3 2 1

questions.

NO Empathy Agree Disagree
EM_1 Does the bank give you individual attention. 5 4 3 2 1
EM_2 Does the bank have operation hours convenient to all its 5 4 3 2 1
customers.
EM_3 Does the bank have employees who give you personal attention. 5 4 3 2 1
EM_4 Do you think that bank has your best interest at heart. 5 4 3 2 1
EM_5 The employees of the bank understand your specific needs 5 4 3 2 1
Comments (If Any)
43
………………………………………………………………………………………………………………
………………………………………………………………………………………………………………
THANK YOU VERY MUCH!
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Service Quality and Customer Satisfaction of Prime Bank

Service Quality and Customer Satisfaction of Prime Bank

Date of Submission: 25.04.2018

Service Quality and Customer Satisfaction of Prime Bank

Date of Submission: 25.04.2018

April 25, 2018

Ms. Kaniz Fatema

We hope you find this report satisfactory.

The Fourth chapter includes Findings, Analysis discussed in this part.

3.7.4 SME Banking: ......................................................................................................... 25

There are many sub objectives are as follows:

1.3.1 Research Design:

1.3.2 Population and Sampling:

1.3.3 Data Gathering and Analysis:

Some Respondents answer the questions without reading the

2.1 Service Quality:

I. An outcome of evaluation process (Grönroos, 1984), and differences in that

2.2 Consumer Satisfaction:

Customer satisfaction, as noted by Tahir, Waggett and Hoffman (2013), is “a customer's

Customer satisfaction is thought to be a precursor to behavioral intentions. Scholars have

Satisfaction is considered to be a global evaluation of a consumer‟s experience with a product or

 Functional organization-involves an expectation of efficient use of assigned resources

 Vendors/suppliers- Vendors and suppliers have a vested interest in providing parts,

2.3 Quality Tangibles:

2.4 Quality Reliability:

with different aspects of availability, maintainability and reliability analysis of complex

2.5 Quality Responsiveness:

Holweg(2005) presents one of the seminal attempts at differentiating responsiveness and

2.6 Quality Assurance:

Accountability requires quality measures, metrics or performance indicators, typically defined as

• Are the institution’s objectives appropriate?

Accreditation determines whether an institution or program meets threshold quality criteria by

• The suitability of the planned quality procedures in relation to the stated

• The conformity of the planned quality procedures in relation to the stated

• The effectiveness of the activities in achieving the stated objectives.

2.7 Quality Empathy:

3.1 Background of Prime Bank Limited:

3.2 Vision Statement:

3.3 Mission Statement:

Mission Statement of Prime Bank Limited is-

3.4 Corporate Philosophy:

For our Customers:

For our Employees:

 By promoting their well-being through attractive remuneration and fringe benefits.

For our Shareholders:

 By generating profits and fair return on their investment

For our Community:

 By assuming our role as a socially responsible corporate citizen in a tangible manner by

3.5 Strategic Priority:

 Diversify loan portfolio to avoid excessive concentration to particular sectors as well as

 Strengthening of Information Security Department to ensure secure technology in

 Maintain strong capital base by expediting borrowers’ rating, concentrating on lending

 Improve internal governance through strengthening good corporate cultures, motivation,

 Conduct BPR (Business Process Re-engineering) in different functional areas to improve

3.6 Ethics, Integrity and Trust:

 Provide service to customers with uncompromising integrity, utmost respect, unwavering

 Protect privacy and confidentiality of customer information

 Prevent money laundering and fraud

3.7 Product & Services:

3.7.1 Retail Banking:

 Prime Millionaire Scheme: Monthly installment shall be Tk. 12,050.00 /Tk.

 Swapnaneer Home Loan

 Prime Bank Master Debit Card

 Prime ATM Card