Article: Bank Selection Criteria of Retail Customers in Bangladesh: A Study on Khulna City Journal: Journal of Business and Management (JBM) 2009 Vol.15 No.2 pp.159 - 169 Abstract: Bangladesh is a Southeast Asian developing country that has been experiencing a constant GDP growth of over 5% for the last decade. This growing trend in the economy can largely be attributed to the massive growth in the private sector, among whose banking industry has been the largest. With the mushrooming growth for the last 15 years, the banking industry has turned out to be one of the most competitive service industries in Bangladesh today. In order to attract the target customers and compete successfully, it is imperative that banks are aware of the factors customers consider important in selecting a bank. This study was carried out with the goal of evaluating the general pattern of preference for different kinds of banks by different types of customers and to identify the relative importance of different factors to the bank customers in selecting their banks. The study was carried out with a group of 198 bank customers in Khulna, the third largest city in Bangladesh. It was a single cross-sectional study where data were collected directly from the respondents with the help of a structured questionnaire. The study reveals significant differences among the customers of different genders, education levels, and income levels with respect to their preference for different types of banks operating in Bangladesh. The study also reveals that bank customers in Bangladesh places highest emphasis on different factors related to their convenience in availing required banking services in selecting their banks. Other factors customers consider important are economic, promotional, and influence factors. Inderscience Publishers - linking academia, business and industry through research

Title: Bank Selection Criteria of Retail Customers in Bangladesh: A Study on Khulna City

Authors: ATM Jahiruddin; Rumana Haque

Addresses: Author address listing can be found in the "About the Authors" section at the end of the article.

Abstract: Bangladesh is a Southeast Asian developing country that has been experiencing a constant GDP growth of over 5% for the last decade. This growing trend in the economy can largely be attributed to the massive growth in the private sector, among whose banking industry has been the largest. With the mushrooming growth for the last 15 years, the banking industry has turned out to be one of the most competitive service industries in Bangladesh today. In order to attract the target customers and compete successfully, it is imperative that banks are aware of the factors customers consider important in selecting a bank. This study was carried out with the goal of evaluating the general pattern of preference for different kinds of banks by different types of customers and to identify the relative importance of different factors to the bank customers in selecting their banks. The study was carried out with a group of 198 bank customers in Khulna, the third largest city in Bangladesh. It was a single cross-sectional study where data were collected directly from the respondents with the help of a structured questionnaire. The study reveals significant differences among the customers of different genders, education levels, and income levels with respect to their preference for different types of banks operating in Bangladesh. The study also reveals that bank customers in Bangladesh places highest emphasis on different factors related to their convenience in availing required banking services in selecting their banks. Other factors customers consider important are economic, promotional, and influence factors.

Keywords: Bank selection criteria; retail customers; banking industry; customer preferences.

DOI: 10.1504/JBM.2009.141175

Journal of Business and Management, 2009 Vol.15 No.2, pp.159 - 169

Published online: 05 Sep 2024 *

Title: Bank Selection Criteria of Retail Customers in Bangladesh: A Study on Khulna City

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