The Impact of Customer Satisfaction Between Private Bank and Public Bank in the Area of Dinajpur, Bangladesh

Abstract

A good banking sector with a good banking habit can accelerate the pace of development in a country. Banking is a key industry in the service sector and it can be considered as the financial nerve centre of the economy. The study is based on a survey conducted in Dinajpur city with the help of primary and secondary data. It was planned to select 20 customers randomly from each bank making a total of 160 customers (80 from public sectors banks and the rest 80 from private sectors banks) as sample by making personal visit to the respective bank. Male participants are the majority respondents as represented by 73% in public sector banks and 71% in private sectors banks. In both sectors, male customers are dominated. The larger part of customers’ educational qualifications in public banks is Higher Secondary & Post-graduates and in private banks is Post-graduates that the majority respondents are selected 36% of bank account both in Private & public bank, 33% only in public bank and 31% only in private bank. The respondent’s average waiting time to receive any service is higher in public sector banks (18.55±10.10) than private sector banks (5.11±1.81). The more respondents say that interest rate is higher in private sector banks (68%) than public sector banks (32%). The customer prefer private sector banks (54%) than public sector banks (46%) in case they have deposit 10 lack taka of the customer prefer private sector banks (56%) than public sector banks (44%) in case of taking loans In order to satisfy the customers, both public and private sector banks need to find out the weak areas to assist the managers to take plan and decisions for meeting up the customers’ requirement.