Customer satisfaction in public sector banks and private sector banks in Bangladesh: A comparative study

Abstract

Banking industry is to be considered as an authentic financial service industry and responsible for economic development of an economy. Customer satisfaction is the vital for retaining existing customers and attracting future customers to widen the operation level. A tough competition is spreading out among business sector day by day. The ultimate success of a business organization depends on customer satisfaction. In Bangladesh public bank and Private bank are giving financial services. The policies and strategies of public bank and private bank quite different that create the variation of customer satisfaction. This paper tries to identify the satisfaction level of customers of various public and private banks and factors that responsible for variation in the satisfaction of customers between the public and private sector banks in Bangladesh. The Purpose of this paper is to know the satisfaction level, find the variations in satisfaction level reason responsible of variation of satisfaction or dissatisfaction in public and private bank in Bangladesh. This research is based on the primary information. The data were collected from the field survey in a structured way. There are 150 customers have included from private and public banks for measuring the satisfaction level of customers. Overall the level of customer satisfaction of public and private banks are satisfied expect some tangibles and behavioral factors of the banks employees due to some strategy and nullity of the employees. So, there are need to improve this factor. This paper helpful for formulating strategy to upgrade the service level of banking activities.