Retail Banking Products of the City Bank Limited

In the present situation of the banking sector is walking with competitive advantage, inspired way, just like a panorama of a race to reach the leading position of the banking. Most of the bank now concentrates of marketing feasibility to earn and generate opportunity to hold existing to keep loyal customers, in the business humanity believed that loyal customers increase the forthcoming gainful revenue. In this report I am trying to focus about the wide consumer expectation, perception and its implementation possibility for the CBL to overcome the all kinds of customer objections for the service failure and weakness.

In the age competition, the banks are no more dissimilar from any other consumer-marketing corporation. The excellent service quality permits a bank to differentiate themselves from their competitors, provide a bearable competitive advantage, and enhance efficiency. Customer service is the process of ensuring customer satisfaction with a product or service. Often, customer service takes place while performing a transaction for the customer, such as making a sale or returning an item. In Banks customer service includes processing cheque, cash and direct debit payments and withdrawals, setting up and maintaining customers’ accounts, dealing with enquiries, promoting and selling financial products and services to customers, using a computerized system to update account details, general administration tasks such as maintaining records, opening post and sending letters to customers, operating UK and overseas currency tills, helping customers with loan and mortgage applications.

This internship report contains the passing study on “The City Bank Ltd”. The report is distributed in many parts according to the constructions of supervisor of report.

City Bank manages its business and operation vertically from the head office through four distinct business divisions namely

Corporate & Investment Banking;
Retail Banking (including Cards);
SME Banking; &
Treasury & Market Risks.

Under a real-time online banking platform, these four business divisions are supported at the back by a robust service delivery or operations setup and also a smart IT Backbone. Such centralized business segment based business & operating model ensure specialized treatment and services to the bank’s different customer segments.

Objective of the Study

The primary objective of this report is to explain the real life scenarios in the organizational working environment. But the objective behind this study may something be broader. Thus the objectives of the study are:

To apply theoretical knowledge in the practical field.
To find out facilities that are provide by The City Bank Ltd. to its customers.
How branches are dealing with the customers
The process of working sections of a branch.
To analyze the performance of The City Bank Limited.
To have some practical experience that will be helpful for future career growth.

Methodology

For preparing this report data and information were needed and collected from both primary and secondary sources. Primary data and information were collected through:

Discussing with officials
Talking with clients
Personal observation & intelligence
Working with officials as a helping hand

Secondary information was collected from the following Sources:

Files, records, journals, manuals and publications obtained from library of the bank.
Different circular issued by the Head office and Bangladesh bank.
Annual reports of bank.
Official website of The City Bank Limited.

An Overview of City Bank Ltd

The City Bank Ltd. is one of the first generation Commercial Banks operating in Bangladesh. It started its journey in 1983 and now is a top bank among the oldest five Commercial Banks in Bangladesh. The first branch was opened at B. B. Avenue Branch in the capital, Dhaka city. It was the visionary entrepreneurship of around 13 local businessmen who had the courage of taking immense uncertainties and risks that made the establishment of the bank possible. Those sponsor directors commenced the journey with only Taka 3.4 core worth of Capital, which now is a respectable Taka 330.77 core as capital & reserve.

City Bank is one of the very few local banks which do not follow the traditional, decentralized, geographically managed, branch based business or profit model. Basically, the bank manages its business and operation vertically from the head office through 4 distinct business divisions namely Corporate & Investment Banking; Retail Banking (including Cards); SME Banking; & Treasury & Market Risks.

Under a real-time online banking platform, these 4 business divisions are supported at the back by a robust service delivery or operations setup and also a smart IT Backbone. Such centralized business segment based business & operating model ensure specialized treatment and services to the bank’s different customer segments.

The bank at present has 92 online branches and 1 SME service centers and 11 SME/Agri branches spread across the length & breadth of the country that include a full-fledged Islami Banking branch. Besides these traditional delivery points, the bank is also very active in the alternative delivery area. It currently has 213 ATMs of its own; and ATM sharing arrangement with a partner bank that has more than 1150 ATMs in place; SMS Banking;

Internet Banking and so on. It already started its Customer Call Center operation. City Bank is the first bank in Bangladesh to have issued Dual Currency Credit Card. The bank is a principal member of VISA international and it issues both Local Currency (Taka) & Foreign Currency (US Dollar) card limits in a single plastic. VISA Debit Card is another popular product which the bank is pushing hard in order to ease out the queues at the branch created by its astounding base of some 400,000 retail customers. The launch of VISA Prepaid Card for the travel sector is currently underway.

City Bank is the first bank in Bangladesh to have issued Dual Currency Credit Card. The bank is a principal member of VISA international and it issues both Local Currency (Taka) & Foreign Currency (US Dollar) card limits in a single plastic. VISA Debit Card is another popular product which the bank is pushing hard in order to ease out the queues at the branch created by its astounding base of some 400,000 retail customers. The launch of VISA Prepaid Card for the travel sector is currently underway. City Bank has launched American Express Credit Card and American Express Gold Credit card in November 2009. City Bank is the local caretaker of the brand and is responsible for all operations supporting the issuing of the new credit cards, including billing and accounting, customer service, credit management and charge authorizations, as well as marketing the cards in Bangladesh. Both cards are international cards and accepted by the millions of merchants operating on the American

Express global merchant network in over 200 countries and territories including Bangladesh. City Bank also introduced exclusive privileges for the card members under the American Express Selects program in Bangladesh. This will entitled any American Express card members to enjoy fantastic savings on retail and dining at some of the finest establishment in Bangladesh. It also provides incredible privileges all over the globe with more than 13000 offers at over 10000 merchants in 75 countries.

City Bank prides itself in offering a very personalized and friendly customer service. It has in place a customized service excellence model called CRP that focuses on ensuring happy customers through setting benchmarks for the bank’s employees’ attitude, behavior, readiness level, accuracy and timelines of service quality. City Bank is one of the largest corporate banks in the country with a current business model that heavily encourages and supports the growth of the bank in Retail and SME Banking. The bank is very much on its way to opening many independent SME centers across the country within a short time. The bank is also very active in the workers’ foreign remittance business. It has strong tie-ups with major exchange companies in the Middle East, Europe, Far East & USA, from where thousands of individual remittances come to the country every month for disbursements through the bank’s large network of 99 online branches and SME service centers. The current senior management leaders of the bank consist of mostly people from the multinational banks with superior management skills and knowledge in their respective “specialized” areas. The newly launched logo and the pay-off line of the bank are just one initial step towards reaching that point.

Objectives and Goals of CBL

CBL always ready to maintain the highest quality of services by upgrading banking technology prudence in management and by applying high standard of business ethics through its established commitment and heritage.

CBL is committed to ensure its contribution to national economy by increasing its profitability through professional and disciplined growth strategy for its customer and by creating corporate culture in international banking arena.

The objective of CBL is not only to earn profit but also to keep the social commitment and to ensure its co-operation to the person of all level, to the businessman, industrialist specially who are engaged in establishing large scale industry by consortium and the agro-based export oriented medium & small scale industries by self inspiration.
CBL as the first and the largest private bank is committed to continue its endeavor by rapidly increasing the investment of honorable share holders into assets.
CBL believes in building up strong based capitalization of the country.
CBL is committed to continue its activities in the new horizon of business with a view to developing service oriented industry and culture of morality and its maintenance in banking.
CBL has been working from its very beginning to ensure the best use of its creativity, well disciplined, well managed and perfect growth.
CBL is always preoccupied to encourage the investors for purchasing its share by creating the opportunity of long term investment and increasing the value of share through prosperity as developed day by day.
CBL is playing a vital role in Socio-economic development o Bangladesh by way of linkage with rest of the world by developing worldwide network in domestic and international operations.

Vision and Mission of CBL

The main vision of The City Bank Ltd. is to be “The Financial Supermarket with a Wining Culture Offering Enjoyable Experience.”

With maintaining this they also try to fulfill mission, such as,

Offer wide array of products and services that differentiate and excite all customer segments
Be the “Employer of choice” by offering an environment where people excel and leaders are created
Continuously challenge processes and platforms to enhance effectiveness and efficiency
Promote innovation and automation with a view to guaranteeing and enhancing excellence in service
Ensure respect for community, good governance and compliance in every activity

Functions of Different Division at City Bank

Financial Division

Financial Planning, budget preparation and monitoring
Payment of salary
Controlling inter-branch transaction
Disbursement of bills
Preparation / Review of returns and statement
Preparation of financial reports and annual reports
Maintenance of Provident Fund, Gratuity, Superannuation Fund
Reconciliation

Credit Risk Management (CRM)

Loan administration
Loan disbursement
Project evaluation
Processing and approving credit proposals of the branches
Documentation, CIB (Credit Information Bureau) report etc
Arranging different credit facilities
Providing related statements to the Bangladesh Bank and other department

Human Resource Division

Recruiting
Training and development
Compensation, employee benefit, leave and service rules program and purgation
Placement and performance appraisal of employees
Preparing related reports
Reporting to the Executive Committee/Board on related matters
Promotional camping and press release

Information Technology (IT) Department

Software development
Network management and expansion
Member banks reconciliation
Date entry and processing
Procurement of hardware and maintenance

Branch Control and Inspection Division

Controlling different function of the branches and search for expansion

Conducting internal audit and inspection both regularly and suddenly
Ensuring compliance with Bangladesh Bank (BB), monitoring BB’s inspection and external audit reports

Services of CBL

The principal activities of the Bank are to provide all kinds of commercial banking, consumer banking trade services, custody and clearing to its customers through its branches in Bangladesh. City Bank is among the very few local banks which do not follow the traditional, decentralized, geographically managed, branch based business or profit model. Instead the bank manages its business and operation vertically from the head office through 4 distinct business divisions namely-

Corporate & Investment Banking;
Retail Banking (including Cards);
Treasury & Market Risks. &
SME Banking

Retail Banking (Products and Services)

Retail banking consumer oriented service that means dealing with the customers directly. Through retail banking customers can get financial services such as savings and transactional accounts, corporate loans, personal loans, debit cards, and credit cards and so on. Retail banking is the division of a bank which deals with retail customers which defined as the process of identifying individual needs and satisfying them accordingly.

Objective of Retail Banking:

To improve living standard of limited income segment by providing collateral free easy credit
To take part in the Scio- economic development of the country
To ensure access to credit by mass people
To diversify loan portfolio to minimize risk
To maximize bank profit as well as to minimize pressure on liquidity through quicker recycling but higher yielding loan operation

Target Market of Retail Banking

Confirmed Officers of Government, Non–Government organizations/Institutes, Semi Government, Autonomous bodies & Corporations
Professionals, Business Executives and Self Employed Persons who have regular monthly income with repayment capacity
Any other individuals where the monthly installment size shall not exceed one third of their take home income.

Retail Banking Products and Services

Retail banking includes the tasks for the following purposes-

Deposit: Most of the people maintain bank accounts, whether it is a personal account or corporate account, in order to make their daily monetary activities. Customers use these accounts to withdraw and deposit funds in regular basis. To meet customer’s expectation City bank provides different types of accounts for customers such as

Current Account
Savings Account
City Savings Delight
City Onayash
City Shomriddhi
City Projonmo
City Ichchapurun
City Bunon
City Digun Praptee
City Youth School Plan
City College Plan
Fixed Deposit

Current Account: It is a non interest bearing account. There is no restrictions in withdrawal in case of CD A/C and continuous transaction is allowed.

Eligibility:

Age: At least 18 years

Nationality: Bangladeshi

Interest Rate: Nill

Features:

Cheque book facility
Locker Service
Debit card for easy cash withdraw
City MAXX card for easy shopping
Collect foreign remittance in both T.C. & Taka draft
Cash back facility for spending amount through City MAXX card
Transfer fund on standing instruction arrangement
City touch- for online banking sms banking and call center service

Savings Account: It is an interest bearing A/C. Withdrawal is restricted in this case, that is not more than twice a week. At a time, it is not possible to withdraw more than 25% of the balance.

Eligibility:

Age: At least 18 years

Nationality: Bangladeshi

Interest Rate: 4% half yearly

Features:

Cheque book facility
Locker Service
Debit card for easy cash withdraw
City MAXX card for easy shopping
Cash back facility for spending amount through City MAXX card
Transfer fund on standing instruction arrangement
City touch- for online banking sms banking and call center service
Utility payment service

Cards: City Bank currently has vast customers those who retain debit cards and credit cards including dual currency cards.

Debit Cards:

Visa Debit Card:

Eligibility: An individual who has a savings, current or STD account in CBL, is eligible for this card. By collecting an application form and submit duly filled up form to any nearby CBL branch one can have Visa Debit Card. Within shortest time the card will be delivered at the mailing address or at designated branch.

Features:

Cash withdrawal from 500+ Visa ATMs 24/7/365 all over the country
Shop and dine at hundreds of merchant Visa outlets all over the country
Balance enquiry
PIN Change
Mini statement
Cash withdrawal @ Taka 25 per transaction at 583 DBBL ATMs
Cash withdrawal @ Taka 10 per transaction at 110 Q-cash network ATMs

Master Card Debit Card: MasterCard Platinum International Debit Card from City Bank is the first dual currency platinum debit card in the country. It’s debit card totally redefined.

Eligibility:

Minimum monthly balance of BDT 10 lac or net monthly income of BDT 2 lac and above (salary account to be maintained with City Bank)
For Local Currency Platinum, only BDT account balance will be considered
For International Platinum (only USD), RFCD/FCY/ERQ account will be considered
For Dual Currency Platinum, account would be in BDT and in RFCD/FCY/ERQ forms

Features:

International Dual Currency Debit card-available both in Taka & USD
Get access to your funds at over 1.9 million MasterCard ATMs world wide
Access to 32 million outlets worldwide that accept MasterCard
Complimentary access to City Bank Lounge at Hazrat Shahjalal International Airport, Dhaka
Enjoy 1 for 1 complimentary companion buffet breakfast & lunch at Café Nemo of Platinum Suites, Banani, Dhaka

Regular BDT Debit Card – Local: MasterCard Debit card is also available in regular BDT which enables convenient and safe use at more than 6000 outlets having City Bank POS machine across Bangladesh and also can access funds from 92 City Bank ATMs and any other bank’s ATM carrying MasterCard logo in Bangladesh

Eligibility:

Bangladeshi national age 18 years & above

Having a Savings, Current or STD account with City Bank

Manarah Islamic Debit Card: MasterCard Islamic Debit Card from City Bank is a debit card to provide the facility to the customer who is banking in fully Islamic Shariah compliant way.

Eligibility:

Bangladeshi national age 18 years & above

Having a Manarah Savings or Current account with City Bank

Credit Cards

American Express Cards: In November, 2009 City Bank became the issuer of one of the world’s most prestigious credit cards, American Express® Cards. City Bank has issued one type of American Express Credit Cards, till now, designed to satisfy customer requirements.

Personal Credit Cards:

The American Express Credit Card
The American Express Gold Credit Card.

Corporate Cards:

The American Express Corporate Card
The American Express Gold Corporate Card.

American Express Card

Eligibility:

The minimum income requirement for The American Express Credit Card is Tk 30,000 per month

Features:

Complimentary companion tickets for entry & all rides for Fantasy Kingdom and Water Kingdom
Membership Rewards Points
Travel Emergency & Medical Assistance abroad
Double Benefit City Shield & All Accident Insurance

City Visa Platinum Card: City Visa Credit Card is designed to be a privileged card for anyone to enjoy benefits to make the best of their lifestyles. This is not just a credit card; it is the modern solution for financial situations that gives prestige and respect for every transaction made with this card.

Features:

City Visa Platinum Card holder can enjoy priority pass privilege at over 600 airport VIP lounges worldwide. Avail up to 35% discount on first year membership fee for priority pass.
Wherever, whether it is day or night, City Visa Platinum Card holder can call on VISA Concierge service for travel and entertainment assistance. Privileges include pre trip information, air travel planning, hotel booking and car hiring according to preference and passport and visa assistance while traveling abroad.
City Visa Platinum Card holder can take pleasure in being honored with 50% off on the Golf Fee Card retail membership and access up to 50% discounted green fees at over 2000 golf courses and 500 golf resorts worldwide. This privilege will also keep the card holder up to date about golf tee time information.
City Visa Platinum Card holder is insured on the outstanding balance of City VISA Platinum Credit Card by enrolling into DBI Program. Card holder’s full outstanding balance will be paid off and an equal amount will be paid to nominee.
By enrolling into DBI Program, City Visa Platinum Card holder will be eligible for All Accidental Death Insurance coverage of BDT 500,000 which will be paid to nominee.

CityMaxx Card: American Express is a trademark of American Express. The CityMaxx Card is issued by City Bank pursuant to a license from American Express. CityMaxx card holder can enjoy unlimited cash back on all spending and earn interest in the bank account on the money that has been spent through the card.

5% cash back on all the leading grocery shops in Bangladesh.
1% cash back all year round on all other transaction
Earn interest for 15 days on the money that has been spent
25% savings with American Express Selects at some of the finest restaurants and retail outlets in Bangladesh

Internet Banking

City bank provides internet banking for the customers. Through this internet banking service customers can observe their account any time from any place through internet.

There are two types of service:

I banking
City Touch
I-Banking:

Single Click Banking

View Account Summary
View Account Details
Print Statement
Cheque Book Inquiry
View Standing Instruction

Features:

For getting this service, customers have to fill out the form correctly
Secret question and answer have to be filled out by the applicant, and he/she should not disclose that to anyone
Within 4 working days after submitting application form, bank will inform the customer his/her ID & Password
After getting ID & Password, users have to go to the following website “http://www.thecitybank.com for log in to i-Bank service”
After first log in, user must change password for future use User can check his account summary; account detail; can query about his/her cheque book; can view his/her standing instruction of the account; can take printouts of statement and he/she can change password when needed
User must remember the secret question & answer which he/she has noted in application form. The secret question & answer will be needed for activating or deactivating his/her i-Bank account and for password retrieval (if password forgotten or lost)
Users can use this service using any web browser
Users can access his/her i-Bank account from anywhere of the globe, anytime
Users can also access his/her i-Bank account using mobile phones

City Touch: City Touch has been recently launched for CBL customers where customers can easily view their

Account summary
Fund transfer to any City Bank Account
Fund transfer to other Bank Account
Pay utility bills,
Can view loan statements
Investment
Mobile bill payment and Recharge.

It is the latest internet banking service provided by City bank where customer can make transaction though internet safely.

Student File

City bank also provides Student file which helps the students who are willing to go abroad to study. Any student going abroad for higher studies needs to submit some documents confirming his admission / offer at foreign educational institution, passport etc to City Bank branches. City Bank, keeping all the attested photocopies, opens a ‘City Student file’ in the name of that particular student. To meet all the foreign currency requirements related to his/her education & accommodation under that admission, City Bank then remits to the institution (or in favor of him/her) the foreign currencies as the file opening bank.

Required Documents:

Letter issued by the foreign educational institution in support of admission
Details of tuition fee & living cost
Refund policy
Educational certificates completed in Bangladesh
Details of the nominee
Original valid passport
Photograph of the student

Eligibility

Any Bangladeshi passport holder student can apply for City Student File
Needs to have an account relationship with City Bank

Feature

Same day processing
Faster and reliable
No hidden cost
Larger branch network

SME Banking

SME Banking of City Bank is assuming a new and modern dimension. It is entering in to a wider horizon. The philosophy of extending banking services to SME’s of the country is to meaningfully push every one of them up to the next level of respective business operations.

The upward push would be meaningful as they would be business wise competitive for a sustainable future. It is therefore would be turning in to an abode of SME’s to grow to the next level. Hence, the bank has named it City Business – for taking SME’s to the next level. CBL’S SME-S banking is engaged of servicing for the following facilities

City Muldhan- Trading Purpose

SME business in Bangladesh mostly requires active financial / banking support for a business to grow. To cater various such needs of different trade related business, from July, 08 The City Bank was going introduce a complete tailor made package which surely will meet your specific financial needs and services.

City Munafa- 50% FDR backed

There are around 106,000 Small and Medium Enterprises in Bangladesh according to a market survey. Based on the estimate, there is a total funding requirements of BDT 200 Billion. A lot of banks are financing for their working capital, fixed asset purchase and other business purposes through complicated or less friendly credit analysis methods by taking land or building as primary collateral. City Bank, as specified in its Small and Medium Enterprise financing policy, would like to offer simply structured, process based, yet risk mitigating banking product to the SMEs. CBL “MUNAFA” has been designed based on the above objectives to achieve. “MUNAFA” is a terminating loan facility (EMI based) for working capital, fixed asset purchase, or any other business purpose. Bank would finance against net cash flow of the socio economic entity derived from cash flow of any creditworthy business and secure the lending against lien of CBL fixed deposit amounting 50% of loan volume. The product will allow the bank to capture the existing market opportunity.

City Shulov- Manufacturing Purpose

A unique product to facilitate concerns engaged in manufacturing business. The product will facilitate to meet up diversified needs to different manufacturing concerns.

City Sheba- Service Purpose

To facilitate different concerns engaged in service related industry, The City Bank is going to introduce a customized product naming City Bank Sheba. The product will positively satisfy different business related needs of the clients involved in different service sectors.

City Nokshi- Women Entrepreneur

Women are no more belong for household activities only. Rather their movement started shifting toward ruling nation, leading corporate office, developing as business think tank. In all over the world for the last decade women has proved their capacity and entrepreneurship skill in their respective arena. The state and Bangladesh bank feel to give a comfortable ground for the development of the women in the business entity and are encouraging and inviting the financial facilitators to extend their hands. There are thousands women specially in handicrafts, boutique, agro based industry, beauty parlour, ready made garments, creative works, interior design, entertainment market etc keeping their superb contribution. That’s why City Bank introduces City Nokshi – an exclusive SME financial facility for women entrepreneur.

City Khamar:

City Khamar is the loan product to assist the growers who are involved in fish and poultry production. Fish & poultry industry has become one of the advance industries in the past decade and many of our growers shifted their focus from crops to fish & poultry production because of scarcity of natural fish & meat to meet the high demand. City Khamar boost this industry in producing more fish & Poultry to meet our demand

City Shosho:

Agricultural is the main artery of the nation like Bangladesh. More that 80% of our citizen still depends on agriculture. Agro based products are no more restricted to just producing paddy. The scope of agriculture has been spread from crops to livestock, livestock to fisheries, fisheries to fruit cultivation etc. Till date rice is our staple food and we do have heavy dependency on potato, vegetable, fish, live stocks, fruits etc. In absence of adequate production of all these necessities, we need to live on imported crops and cost of living ultimately goes up and a huge stake of our population is simply lives very hard life because of crisis of the necessities. Private sector facilities are invited to take part in the development of this agro based industry to avoid the deadly sufferings of crisis and City Bank has come forward to accept the call and introduced City Shosho to facilitate rural agricultural development.

City Livestock:

City Livestock is the loan product to assist the persons involve in farming livestock in different areas in the country. Livestock has a huge demand in our country for our food, milk and cultivation as well. The raw hide of the livestock is also highly demanded for the leather industry. As we can’t meet our domestic demand of milk and meat from our local sources, we are hugely dependent in import for livestock products. City Livestock has been aimed to facilitate the people who are involved in livestock business in the country.

City Jantrapati:

City Jontropati is aimed to facilitate the farmers to produce different agro based machinery and equipment for their irrigation and cultivation. Production of modern cultivation is heavily dependent on availability facility of equipment and machinery for irrigation and cultivation. This loan product will help the farmers to buy this equipment for cultivation process.

Islamic Banking

City Bank introduces City Manarah – Islamic Banking. City Manarah is here to guide and manage finances in a fully Islamic Shariah Compliant way. It offers a wide variety of deposit and investment products. Each account is designed to meet financial needs with best value of money. City Manarah includes services such as,

Manarah Current Account
Manarah Savings Account
Manarah Term Deposit Receipt
Manarah Hajj Deposit Scheme

Findings from the Study and Recommendation

SWOT Analysis of CBL

SWOT is an acronym for the internal strength and weakness of a firm and the environmental Opportunity and Threat facing by that firm. So if we consider The City Bank Limited as a business firm and analyze its strength, weakness, opportunity and threat the scenario will be as follows:

STRENGTH

Trustworthiness
Good Management
Cooperation with each other
Regular Customers
Membership with SWIFT
Good banker-customer relationship
Strong Financial Position
Large Network- both nationally & Internationally
Real- Time On-Line Banking
Dual-Currency City Visa Card- Unique in Bangladesh

WEAKNESS

Lack of proper motivation, training and job rotation.
Lack of experienced employees in junior level management.
Still a Problem Status Bank
Lack of own ATM services.
Large Branch Network in Rural Area

OPPORTUNITIES

SME Finance
Huge business area
High growth of sales & trade Finance volume
Steps taken by Bangladesh Bank
High growth of sales & trade Finance volume
Steps taken by Bangladesh Bank
Investments on technology.

THREATS

FCBs and Third Generation Banks
Aggressive SME Finance by New CBs
Losing customers
Entrance of new Private CBs
Huge FDI flow

Other Findings From Observation:

Centralization:

The Bank is too much centralized. For each and every move, branch office has to go for permission from the Head Office. The Head Office tightly controls each and every branch office. This sort of dependency on Head Office slows down the activities of branch office.

Lack of waiting place:

In compare to customers the place for waiting/ sitting areas are not sufficient, as a result, customers have to wait by standing.

The service of The City Bank Ltd. is competitive and efficient comparing to the others; but there is significant scope of improvement.

The bank needs to make significant effort to improve the employee relationship with clients.
The environment inside the bank needs to be improved significantly for efficient and pleasant banking activities for the customers.
Steps should take to improve employee job satisfaction.
More customized products and service should introduce.
Call center team often provides inadequate or incorrect information to the customers.
To increase customer satisfaction the bank needs to improve their service quality by providing more importance on customer’s preference.
Service charge is relatively high than others.
Branch needs more personnel to ensure smooth service.

In terms of the customers, environment of the bank is quite ok but the services of cash needs to more fast also more attention need to be given to the customers when they come for foreign remittance.

Recommendation

We are believed in surprising contest of new era, must have to important considered of the marketing to generate constructive exclusivity and uniqueness opportunity of the banking sector.

So, CBL should start strategic planning to increase the infrastructures and also important constructs needed to support its large customer base. So, considering the service sector of Bangladesh, CBL should be more conscious to deal with its customers as the customers have now more choice to bank with and there are institutions that are intensifying competition by focusing more on superb customer service.

To identify these bank needs proper information system is required badly. Customer feedback can make value to increase right services and relations to the right customers and increase precise commitment, loyalty, trust and satisfaction to become with huge good relationship.

CBL has several services gap to authentic of considerate the consumer behavior and their potential attitude, which made them deficient in modern banks. CBL has to minimize their service gap though strong study on customer objection, expectation, perception and critical internal marketing aspects. Steps should be taken to implement the new process in order to ensure a smooth service as promised to customers.

Employees are needed to give adequate training to work and handle clients under pressure. In this case both the branch authorities and higher authorities can persuade each other to train the employees.
CBL should increase more Consumer Banking activity. Their Consumer banking activity is quite satisfactory but it will be better if they can put attention on individual customer.
They should invent other type of deposit to attract more customers which is different from other banks.
CBL should maintain more cash and deposit balances with other banks. Because it is desirable that banks keep their cash and balance with other bank to such extent so that it can minimize the chance of liquidity crunch.
Should develop more strategic planning as to compete with its rival banks.
Increase the merchant locations of ATM cards.
There are many customer’s of the bank are aged between 21 to 30 the bank should consider the products and services with fewer service charges that are suitable for that age group. The products should also be developed mostly for customers with income more than 30,000 and particularly jobholders.
Problems regarding IT and internet link should take seriously.
Should increase the number of ATMs and ensure their smooth operations.
CBL should recruit more capable & experiences employees to spread the products all over the country.
Delinquency behavior is higher in the DCC area so need to concentrate on semi-urban area or rural area.
CBL should maintain errors-free customer’s record & database which will help to identify the major customer’s facility requirements.
Employees should get proper knowledge on products & facilities to deliver the customer regarding right time, right facilities as per their requirements.
Customers are confused about the loan pricing & hidden charges, so CBL should informed the customer about the different fees & installment size of that particular product.
Customers are demanding more SME Service Center & Branches in their locality which will help them regular transaction with them.
Agriculture is the backbone of the country. As per BB policy; CBL should increase their more concentration on Agri loan.
As per customer response, CBL is taking long time to process & disbursed the loan. More easy way should find to minimize the duration for loan process.
CBL is needed to reach the brand value to the customers for building up ideal relationship to create loyal customer.

Conclusion

Since the banking service especially the private Banks are doing an outstanding business, so it is clear that the modern people are more concerned about securing their valuable assets and get high-quality and timely services. For this reason lot of new commercial bank has been established in last few years and these banks have made this banking sector very competitive.

So, now banks have to organize their operation and do their operations according to the need of the market. Banking sectors no more depends on a traditional method of banking. In this competitive world this sector has trenched its wings wide enough to cover any kind of financial services anywhere in this world. The major task for banks, to survive in this competitive environment is by managing its assets and liabilities in an efficient way. City Bank is the most promising bank in Bangladesh. Every day City Bank endeavor to increase their product and services although they provide a wide range of product of services to their customers. City Bank is helping the economy of Bangladesh by remitting of funds both local and foreign. For helping the people the bank provides bridge financing loan, working capital loan to its corporate clients. As modern function City Banks provides credit card facility, ATM card facility and any branch banking facility to its customers. With the current performance of the Bank and with little improvement here and there will certainly make City Bank one of the best Private Bank in Bangladesh in the near future.