Agrani Bank

Introduction

Customer satisfaction is a measure of how products and services supplied by a company

meet or surpass customer expectation. It is seen as a key performance indicator within a

business. So, assessing the level of customer satisfaction actually helps to measure an

organization‘s position in business. I‘ve measured the customer satisfaction level of

Agrani Bank Limited

I‘ve calculated the Customer Satisfaction Index by using SERVQUAL instrument having

22 statements on service quality dimensions through face to face interviews with the

accountholders of the bank.

The study shows that customers conceive this bank as reliable in getting accurate

promised services, problem solving and in maintaining error free record. They also

believe that there is assurance of competency, courtesy, credibility & security by the

bank. They are also satisfied by the tangible appearances of the bank. But the customers

are not enough satisfied in getting personal attention and they think that employees do not

understand their specific needs. They also think that the employees are not enough

responsive in providing prompt services and in informing that exactly when service will

be provided.

On the basis of conducted Key Informants Interviews, the quantitative study result and

my observation I believe that appointing more employees under General Banking

department, maintaining time slots for each customer to serve, setting up of electronic

calling machine for cash counter, setting up of query desk, replacement of core banking

software by better one, regular arrangement of employee training workshops, appointing

female employees, etc. will help to increase the satisfaction level of the customers of the

bank.

1

Objective(s) of the Study

Broad Objective- To identify the satisfaction level of its customer and Quality

assurance of Agrani Bank Limited

Specific Objectives- There are some specific objectives to properly doing the

report.

a) Find out the banking activities of Agrani Bank Limited.

b) Identify the satisfaction level of its customer.

c) To know the quality level of Agrani Bank Limited.

d) To find out their contribution towards the customers.

Methodology

In this report the type of data is qualitative and there are mainly two sources I have used

to prepare the report properly. The sources are given below:

Primary- The face-to-face interview was taken, where one person-the

interviewer, asks the respondent

Secondary- I have collected some information from the internet. I also took some

information from the book.

2

Company Profile

A Brief Overview of Agrani Bank Limited

Agrani Bank Limited, a leading commercial bank with 878 outlets strategically located in

almost all the commercial areas throughout Bangladesh, overseas Exchange Houses and

hundreds of overseas Correspondents, came into being as a Public Limited Company on

May 17, 2007 with a view to take over the business, assets, liabilities, rights and

obligations of the Agrani Bank which emerged as a nationalized commercial bank in

1972 immediately after the emergence of Bangladesh as an independent state. Agrani

Bank Limited started functioning as a going concern basis through a Vendors Agreement

signed between the ministry of finance, Government of the People's Republic of

Bangladesh on behalf of the former Agrani Bank and the Board of Directors of Agrani

Bank Limited on November 15, 2007 with retrospective effect from 01 July, 2007.

Agrani Bank Limited is governed by a Board of Directors consisting of 13 (thirteen)

members headed by a Chairman. The Bank is headed by the Managing Director & Chief

Executive Officer; Managing Director is assisted by Deputy Managing Directors and

General Managers. The bank has 11 Circle offices, 25 Divisions in head office, 56 zonal

offices and 878 branches including 27 corporate and 40 AD (authorized dealer) branches.

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Agrani Bank follow’s a hierarchy in a systematic manner, which helps the bank to

successfully run their activities to monitor all their activities and overcome all the

barriers. The hierarchy of Agrani bank is given below:

4

Figure: Hierarchy of Agrani Bank Limited.

Services of Agrani Bank Limited

Agrani Bank was nationalized after liberation of Bangladesh. It started functioning as a

commercial bank in 1972 and continued as a public sector bank till 16 May, 2007. On 17

May the bank started the third chapter of its life as a limited company. The bank now

performs its commercial banking operation through 873 outlets all over Bangladesh

under the leadership of a 13 member Board of Directors.

The services and products of Agrani Bank are possible to classify in the following broad

divisions:

Personal

Corporate

Business

Agri &Rural

SME

Merchant

NRB

Islami

Personal Banking

Personal banking products are Deposit, Loan and Card services offered by ABL. Deposit

services are Savings bank account, fixed deposit receipt, Pension sanchay scheme. These

schemes enhance small savings of limited income people to be accumulated. Loan

products at personal level are Home loan, Consumer loan, and Advance against salary.

These programs help to achieve your dreams just in time and at a minimum effort.

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Agrani Bank presents Debit card for the clients sharing a network with other four

renowned banks of the country. Fees for the card are nominal. You may have a debit card

from ABL and enjoy a life free from any tension of carrying cash.

Corporate Banking

Agrani Bank provides deposit services like Current account and Fixed deposit for its

corporate clients. On the other hand it arranges funds through syndication of banks for

big, corporate projects. Thus the bank is contributing to uplift the national economy to a

higher level.

Business support

With a view to building up a fund of Tk. 500 crore for financing industrial projects, ABL

introduced Agrani Bank Shilpa Unnayan Bond in 1999. There are two types of bonds, 5

and 7 years. The lowest denomination is Tk. 50,000 and highest one is of Tk. 500,000.

Interest rate is good enough to attract people. Major credit Schemes for business people

are Industrial Credit, Trade Finance, Import Finance and Export Finance. If you are a

deserving candidate for any of them, or you need any documentary support from Agrani

Bank, you may pay a visit to any branch of ABL.

Agri & Rural Banking

Now bottom line farmers may have a bank account depositing Tk.10 only. Agrani Bank

provides this service to rural Bangladesh. Young generation intending to go abroad for

jobs may have loan for their air tickets and other expenses against nominal securities.

Other rural economical activities are also supported by Agrani Bank credit programs. The

areas addressed are Cultivation (flower and others), Fisheries, Poultry, Purchasing Agri

and irrigation machinery and ploughing animals. So it can be said that ABL is working to

promote economic growth of Bangladesh from the very grass root level which is 80% of

national economy.

SME Banking

Small and medium enterprise of the country is one of the deserving sectors for financial

support. Agrani Bank justifiably provides credit to them under different schemes. ABL

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launched a joint venture program named Small Enterprise Development Program (SEDP)

with NORAD, a Norwegian agency in 1995. This program was implemented in greater

Mymensingh and Faridpur districts. The target fields were rice mill, oil mill, and nursery,

repairing shops, fishery, weaving and many more. The bank is presenting micro credit

and other supports to land less day labor for alleviation of poverty by generating

employment. Agrani Bank had designed some programs in collaboration with other

agencies. One such program is Employment Generation Project for Rural Poor (EGPRP).

This program was launched in 1995. All these programs are very much favorable to the

micro enterprises and the poor. Terms and conditions are also customer friendly and easy

to follow.

Banking for NRBs

Nonresident Bangladeshis now get banking facility through Agrani Bank. They may have

an account in taka; they may invest in Dollar Bonds. They are also allowed to have an

F/C account. If you are one of them you can avail these opportunities. Your nominees are

also entitled for these scopes.

Merchant Banking

The merchant banking unit of Agrani Bank was turned into a subsidiary entity in 2009

and named as Agrani Equity & Investment Limited. This unit serves Issue management,

Underwriting and Portfolio management functions.

Islami Banking

Among the nationalized banks Agrani was the first to introduce Islami Banking service.

Agrani Bank provides completely interest free Shariah based banking to the clients.

Deposit services offer interest free profit in compliance with Shariah. If you desire to get

Islami banking service you are welcome at its Islami banking unit in its H/Q. Agrani

Bank, as per its slogan, is always beside the people in their struggle to come up with

sustainable economic growth for themselves and for the nation.

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Analysis Part

1. Do you have account on Agrani Bank?


No12%

Total50%

Yes38%

Yes

No

Total

According to the table, you can see that, 38% have account on Agrani Bank Ltd and rest

of 12% don’t have account.

2. Management system of Agrani Bank is well mannered.


0%0% Disagree

5%

Strongly Disagree

3%

Total50%

Neutral5%

Strongly Agree12%

Agree25%

Agree Strongly AgreeNeutral Disagree Strongly Disagree

Total

According to the table, you can see that, 25% respondents agree with the statement and

12% strongly agreed. So it can be easily said that, most of the respondents think the

management system of Agrani Bank is well mannered.

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3. The customer service of Agrani Bank Ltd is better then other banks.


0%0%

Total50%

Disagree5%

Neutral5%

Strongly Agree12%

Agree25%

Strongly Disagree

3%


Total


12% strongly agreed. So it can be easily said that, customer service of Agrani Bank Ltd is

better then other banks.

4. Agrani Bank Ltd provides higher profit sharing’s.


Neutral7%

Total49%

Strongly Disagree

0%

0%

Disagree7%

Strongly Agree10%

Agree27%

0%

Agree

Strongly Agree

Neutral

Disagree

StronglyDisagree

Total


10% strongly agreed. Rests of 7% are neutral and disagreed. So it can be easily said that,

customer service of Agrani Bank Ltd provides higher profit sharing’s.

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5. Agrani Bank Ltd provides special credit system.


0%

Neutral3%

Disagree22%

0%

Total50%

Strongly Disagree

3%

Strongly Agree

5%Agree17%

AgreeStrongly Agree

NeutralDisagreeStrongly Disagree

Total

According to the table, you can see that, 22% respondents disagree with the statement.

The majority thinks that they don’t offer special credit system.

6. Agrani Bank ltd loan scheme offerings are better then other banks.


Strongly Agree10%

0%Total50%

0%Strongly

Disagree8%

Disagree12%

Neutral5%

Agree15%


Total


10% strongly agreed. Rests of 12% disagreed with the statements. So it can be easily said

that, Agrani Bank ltd loan scheme offerings are better then other banks.

7. Agrani Bank has enough branches.

10


Agree40%

0%

Neutral0%

Total50%

Strongly Agree10%

Disagree0%

Strongly Disagree

0%0%

Agree

Strongly Agree

Neutral

Disagree

StronglyDisagree

Total


10% strongly agreed. So almost all the respondents feel that, Agrani Bank has enough

branches.

8. Agrani Bank Ltd is decorated well with modern equipments.


0%Total50%

Neutral0%

Strongly Agree8%

Agree12%

Disagree25%0% Strongly

Disagree5%

Agree

Strongly Agree

Neutral

Disagree

StronglyDisagree

Total

According to the table, you can see that, 25% respondents disagree with the statement

and 12% agreed. So we can see that, people think Agrani Bank Ltd don’t have modern

equipments.

9. Agrani Bank has more qualified employers then any other banks.

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According to the table, you can see that, 22% respondents disagree with the statement

and 13% agreed. So we can say that, they don’t have enough qualified employees.

10. Agrani Bank Ltd provides safe transaction.


0%0%

Total50%

Strongly Disagree

3%

Neutral3%

Disagree7%

Strongly Agree12%

Agree25%

Agree

Strongly Agree

Neutral

Disagree

StronglyDisagree

Total


12% strongly agreed. So maximum people think they provide safe transaction.

11. Agrani Bank Ltd provides right service at right time.

12


0%Neutral

7%

Disagree22%

Total50%

Strongly Disagree

0% 0%

Strongly Agree

8%

Agree13%

Agree Strongly Agree

Neutral Disagree Strongly Disagree

Total


0%

0%

Total49%

Other56%Srtongly

Satisfied12%

Satisfied17%

Neutral8%

Dissatisfied7%

Strongly Dissatisfied

7%

Satisfied Srtongly SatisfiedNeutral Dissatisfied Strongly Dissatisfied

Total

According to the table, you can see that, 17% respondents satisfied with the statement

and 12% strongly satisfied. So most of the respondents feel that, Agrani Bank provides

right service at right time.

12. The employers of Agrani Bank Ltd are always willing to help their customers.


0%

Other55%

Satisfied10%

0%

Neutral10%

Srtongly Satisfied

12%

Dissatisfied13%

Total50%


5%


Total


and 12% strongly satisfied. Another 13% respondents are dissatisfied. So there is a mix

reaction.

13. Agrani Bank Ltd gives customer individual attention.

13


Satisfied12%

Srtongly Satisfied

10%

0%

Neutral10%

Dissatisfied12%

0%

Other56%


7%

Total49%


Total


and 10% strongly satisfied. Another 12% respondents are dissatisfied. So there is again a

mix reaction regarding this issue.

14. Agrani Bank Ltd banking system is convenient.


Satisfied13%

Srtongly Satisfied

13%

0%

Neutral5%

Dissatisfied10%

0%

Other59%


8%

Total51%

Satisfied

SrtonglySatisfied

Neutral

Dissatisfied

StronglyDissatisfied

Total


and 13% strongly satisfied. Another 10% respondents are dissatisfied. So there is a mix

reaction.

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Findings

I have analyzed all the necessary and collected information to prepare the report. After

analyzing the report and the answers of the respondents I have found some key findings

which I am sharing below here:

Agrani Bank Limited tries to provide their customer a better service by

ensuring right time, right place business.

They have all the capabilities to improve their banking system and meet their

desired goals.

Agrani Bank Limited doesn’t have enough qualified employees, because they

have lacking in their recruitment and selection process. There are lot of

biasness involve in their selection system.

Agrani Bank Limited does not have modern equipments and technologies to

do work properly. They use old technologies and equipments which is not

sufficient to give better performance.

Customers think that they are not getting proper individual attention, there is

lacking of employees who will give them personal attention and employees do

not understand their personal needs.

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Recommendations

There are some recommendations that I have given here which I think will help the

company to find out the important facts to change or redesign.

1. They should check their recruitment and selection system and remove all the

biasness when taking employees, so that they can take higher qualified employees

and thus gain more efficient performance.

2. They should purchase modern equipments and use modern technologies to do all

types of activities efficiently. This will help the employees more confident.

3. They can do survey every few years later to understand the expectations of the

consumers and also to know better about their competitors position and do’s and

deeds, so that they can properly plan their future activities and thus survive in the

market successfully.

4. Customers think that they are not getting proper individual attention, there is

lacking of employees who will give them personal attention and employees do not

understand their personal needs. These disappointing factors are forming average.

They should give concentration towards their every customer individually.

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Conclusion

Agrani Bank is a state-owned commercial bank of Bangladesh established in 1972. Its

headquarter is situated at Motijheel in Dhaka, the capital city of Bangladesh. It started

functioning as nationalized commercial bank taking over assets and liabilities of the

erstwhile Habib Bank ltd and commerce Bank ltd. are functioning in the East Pakistan. It

has been privatized on 15 November 2007 and emerged as Agrani Bank Limited (ABL)

taking over assets, liability and goodwill of Agrani Bank. The authorized capital of the

Bank is Tk. 800 crore. Customers of the bank are well satisfied with all types of tangible

appearances (equipments, materials, physical facilities & employees) inside the bank.

The survey result proved that the bank is offering its customers convenient banking hours

and the employees have the best interest of customers in their heart. Beside these two

satisfactory points there are some unsatisfactory items also. On average customers think

that they are not getting proper individual attention, there is lacking of employees who

will give them personal attention and employees do not understand their personal needs.

These disappointing factors are forming average.

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Questionnaire

Name:

Age:

Gender:

Occupation:


A. Yes. B. No.


A. Agree. B. Strongly Agree. C. Neutral. D. Disagree. E. Strongly Disagree.


Agree. B. Strongly Agree. C. Neutral. D. Disagree. E. Strongly Disagree.







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A. Satisfied. B. Strongly Satisfied. C. Neutral. D. Dissatisfied. E. Strongly Dissatisfied.







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Agrani Bank

Documents

Transcript of Agrani Bank