Dutch Bangla Bank Research Articles

CORPORATE SOCIAL RESPONSIBILITY PRACTICES: A STUDY ON THE LISTED PRIVATE COMMERCIAL BANKS OF BANGLADESH

This study aims to monitor the CSR activities and determine the nature and the level of CSR contribution of PCBs. In most developed countries, corporate social responsibility (CSR) is quite common in the economy. From the view of a developed economy, much literature has been seen about CSR practices. The paper reveals the practices of CSR of the private commercial banks (PCBs) of Bangladesh. CSR has been considered as the new competition area for the banking sector. In this paper, 30 listed PCBs of the Dhaka Stock Exchange have been considered to conduct the study. This paper is mainly a descriptive type & secondary data collected from annual report of different banks have been used for data analysis. The research found that only a few banks (Shahjalal Islami Bank, Trust Bank, One Bank, Jamuna Bank, Islami Bank, Prime Bank, Dutch Bangla Bank and Jamuna Bank) give significant focus on CSR activities, but the other banks (Social Islami Bank, ICB Islami Bank, First Security Islami Bank, Exim Bank, Al- Arafah Islami Bank, Uttara Bank, United Commercial Bank, Standard Bank, Pubali Bank, Southeast Bank, Premier Bank, NCC Bank, National Bank, Mutual Trust Bank, Mercantile Bank, IFIC Bank, Eastern Bank, Dhaka Bank, City Bank, BRAC Bank, Bank Asia, Bangladesh Commerce Bank, AB Bank) contribution is insignificant. According to the findings of the study, the government should establish an appropriate policy regarding CSR activities and ensure that CSR disclosures are included in the annual report.

Impact of Working Capital Management on the Profitability of Dutch Bangla Bank Limited (DBBL): A Comparative Analysis

A financial institution must check the impact of working capital management on profitability to determine its relative position based on earnings over time. This study has been conducted to identify the period that is more realistic in terms of profitability and working capital management for Dutch Bangla Bank Limited (DBBL) from 2009 to 2014 and 2016 to 2021. A variety of Dutch Bangla Bank Limited (DBBL) annual reports serve as the only main source for the study's secondary data. In this study, return on networking capital is considered a dependent variable, and quick ratio, return on equity, and return on assets are considered independent factors. Data were evaluated using informative statistics, the T-test, correlation, and the ANOVA Test (Multiple Regression Analysis). Those test results demonstrate that return on equity has no effect and has a negligible effect on the return on net working capital from 2009 to 2014 and from 2016 to 2021, whereas the return on assets has a significant positive impact on net working capital from 2009 to 2014 and from 2016 to 2021. Additionally, the current ratio had no impact on the return on net working capital from 2009 to 2014, but it had a very beneficial impact starting in 2016 and 2021. The 2015–2021 phases had more changes in the current ratio, return on equity, and return on working capital than the 2014–2014 phases did. The 2009–2014 phases saw more strategic and careful working capital management than the 2015–2021 phases.

Exploring the Correlation among Employee Performance, Motivation, and Social Life Satisfaction: A Study on Private Commercial Banks in Bangladesh

As a key component of economic growth, commercial banks play a pivotal role in the development of trade and industry in a country. At present, 61 scheduled banks are operating in Bangladesh of which 43 are private commercial banks. The performance of these banks’ employees plays a vital role in the economic sustainability and growth of the country. This study focuses on these employees’ performance in the light of their motivation and social life satisfaction. The data were collected from 204 respondents from the three renowned private commercial banks (Islami Bank Bangladesh Limited, Dutch-Bangla Bank Limited, and Jamuna Bank Limited) through a structured questionnaire. A 5-Point Likert Scale was used to collect primary data and Statistical Package for the Social Science (SPSS) software was used to analyze it. The study revealed that there is a significant positive correlation between employee performance and motivation as well as social life satisfaction. Furthermore, social life satisfaction has the highest positive contribution to performance. Finally, some actionable recommendations were outlined based on the findings of the study.

EFFECTIVENESS OF HUMAN RESOURCE MANAGEMENT TOWARDS EMPLOYEES’ PERFORMANCE IN PRIVATE BANKS OF BANGLADESH

HRM is “a management function involving procurement of suitable human resources train and develops their competencies. The study of human resource management practices has been an important and critical area in management and organizational performance from last several years especially in the banking industry. The study highlights the fact that private banks i.e Dutch Bangla Bank Ltd., United Commercial Bank Ltd., Dhaka Bank Ltd., and One Bank Limited leading private commercial banks of Bogura and Sirajganj District in Bangladesh is better can be the facilities and benefits provided to the employees. The study helps to the policy makers researches and bankers etc. Further it would be also using the formulation of bank policies related to the HRM practices in a banking sector. Therefore, the present study focus on HRM practices and Employees performance in Private sector banks in in Bangladesh. This study concluded that HR practices and policies pave the way for improving and raising employee productivity in bank sector and leading to the achievement of organizational objectives, employee satisfaction and long term sustainability in Private Banks of Bangladesh.”

IMPACT OF HRM PRACTICES & JOB SATISFACTION IN SELECTED PRIVATE BANKS OF BANGLADESH

Human Resource Management includes planning, job analysis, job design, acquisition, training and development, compensation, appraisal, benefits, rewards, safety, health, motivation, job evaluation, human relations, employee counselling and personnel research of human resources. The main purpose of the study is to investigate the Impact of HRM Practices & Job Satisfaction in Selected Private Banks of Bangladesh. To conduct this research, 85 respondents from Dutch Bangla Bank Ltd., United Commercial Bank Ltd., Dhaka Bank Ltd., & One Bank Limited leading private commercial banks of Bogura & Sirajganj District of Bangladesh. This study is based on primary as well as secondary data in nature. Primary data have been collected with help of a structured questionnaire which was administered personally to the bank employees. The primary data have been analysied with help of SPSS software. This study tried to disclose the relationship between employees’ satisfaction and various dimensions of HRM practices. In this study, we considered nine major factors which represented most of the human resources management practices followed by different private banks. The study reveals that all HRM dimensions exercised in the private banking sector of Bangladesh falls short to satisfy the employees equally. Most of the employees are dissatisfied with Compensation System followed by reward and motivation, Career & Development, training and development, Management System, and job design and responsibilities. It is found the HRM practices in the private banking sectors of Bangladesh have not been fully developed and there is the urgent need to employ the services of HR professionals, consultants and researchers to help shape and develop new directional focus that will ensure an efficient and effective human resource practices.” KEYWORDS: HRM, HRM practices, job satisfaction, private commercial banks, Bangladesh”

Uncovering the Extent of Social Responsibility of Private Commercial Banks: A Comparative Study on CSR Activities during COVID Pandemic

The true meaning of CSR established when organizations contribute to society both in normal and crisis times where CSR; corporate social responsibilities reflect responsibility and commitment of social wellbeing from organizations to society. Bonding strong relationships with stakeholders, capturing customer loyalty, attracting investors, and holding the responsibilities for society, CSR plays a unique role. People across the world are trapped in the corona pandemic where an enormous loss hit almost every sector and the economy also thundered for a time being. The study focused on CSR initiatives and the dynamism of 43 scheduled Private Commercial Banks (PCBs) in the advent of the COVID-19 pandemic from the banking industry. Published secondary data has been used to perform a comparative analysis on the CSR components to extract the mechanisms of CSR activities and finding the extent the banks have accomplished the policy guideline of Bangladesh bank. The study considered the CSR activities of ten banks from 2018-2021where Islami Bank Bangladesh Limited (IBBL) and Dutch-Bangla Bank Limited discovered as the highest supplier of CSR funds for 2018-2019 while in 2020-2022, during the COVID, the uppermost contributors were IBBL and EXIM Bank. This study reveals before or after the COVID pandemic, PCBs prioritize disaster-management sectors for their CSR activities while focusing less on environmental, cultural, infrastructure, and income-generating activities. Despite the significance of a state's health-sector, the study didn’t observe as much COVID contribution as expected. However, the contribution from CSR has been gradually increasing since the COVID pandemic broke out. Keywords: Bank CSR, Social responsibility during pandemic, Private commercial banks, COVID Pandemic DOI: 10.7176/EJBM/14-20-01 Publication date: October 31 st 2022

Measuring Clients’ Satisfaction towards the Mobile Banking Services in the Northern Area of Bangladesh

Purpose: The aim of the present study was to investigate the elements that influence Bangladeshi banking customers’ satisfaction. Quality of Service (QoS) refers to how well it meets the needs of its present and potential customers. As a result, estimating service quality is extremely important for banking organizations. Methodology: A survey research method has been used involving 255 mobile banking holders in the northern area of Bangladesh. A self-administrated survey has been given to the customers of Dutch Bangla Bank Limited (DBBL) and BRAC Bank Limited two full-fledged, early M banking service providers in Bangladesh. Findings: According to the test results, client satisfaction is positively correlated with the four SERVQUAL criteria of reliability, assurance, empathy, and responsiveness (apart from tangible). Practical Implication: The investigation results can be interpreted theoretically and practically. Research Limitations: The number of respondents who participated in the study could have been higher.

The Impacts of Service Quality on Client Satisfaction: An Empirical Study on Private Commercial Banks in Bangladesh

Bangladesh's financial industry is supported by banking institutions. Because the banking sector's existence is reliant on the quality of services it offers and the satisfaction of its clients, service quality is critical for measuring the banking sector's success. The purpose of this research is to assess the impact of service quality on customer satisfaction by examining the numerous factors that influence those outcomes. It investigates useful and objective input about a client's perceptions and expectations and then improves different aspects of the company to achieve those goals. A standardized questionnaire was utilized to obtain data from a group of 300 people. The data was analyzed and conclusions were drawn using descriptive statistics. As a result, the SERVQUAL dimensions have been used to evaluate the service quality of three private commercial banks in Rangpur. To show the distinction, EXIM Bank Ltd., Dutch Bangla Bank Ltd. (DBBL), and Mercantile Bank Limited were chosen. Customers of one bank appear to be moderately satisfied, but customers of the other two banks tend to fall short of their expectations on the SERVQUAL dimension. The empathy component was shown to be a key driver of client satisfaction for both EXIM Bank Ltd. and Mercantile Bank Limited. Dependability, tangibility, and assurance, on the other hand, were found to have a significant influence on customer satisfaction for Dutch Bangla Bank Limited.

Effect of Credit Risk on Commercial Banks’ Profitability: A Case Study of Bangladesh

Purpose of the Study: Credit risk is the risk of default by the borrower. The major cause of a bank’s failure is the lack of proper credit risk management (CRM). The study examined the impact of the credit risk on the profitability of the public and private sector banks in Bangladesh. Materials and Methods: A total of 20 public and private commercial banks (CB) were selected for a period of 5 years (2014–2018). The sample banks are AB Bank, Agrani Bank, Brac Bank, Bank Asia, The Citi Bank, Dhaka Bank, Dutch Bangla Bank, Exim Bank, First Security Islamic Bank, IFIC Bank, Islami Bank Bangladesh, Janata Bank, Mercantile Bank, Mutual Trust Bank, National Bank’, NCC Bank, Prime Bank, Rupali Bank, Sonali Bank, and South East Bank Limited. The study was carried out using secondary data sourced from the annual reports. Findings: The study found that return on assets (ROA) showed statistically significant positive relationship with capital adequacy ratio (CAR) as well as cost to loan assets ratio. On the other side, ROA and non-performing loans (NPL) as well as bank size revealed a significant negative relationship. However, cash reserve ratio proved statistically insignificant relationship with ROA. Hence, the study concluded that among five credit risk indicators CAR, NPL, and bank size were the most important predictor of the CB’ profitability. Implications: The implication of the study is that the respective authorities of the CB of Bangladesh could use the findings to take necessary actions regarding the CRM.

School Banking:Concept, Contribution and Prospect: The Perspective of Dutch Bangla Bank Ltd. (DBBL)

School Banking is significantly contributing in the financial inclusion of the students by providing them the opportunities to receive the privileged banking services designed and offered by the banks. The broad aim of school banking is to introduce the students with financial literacy and make them aware of modern banking facilities and bring them under umbrella of banking services that habituate the school going child with banking transaction so that the regular savings tendency may grow. Initially, Bangladesh Bank (BB) as the central bank of Bangladesh inaugurated the concept of school banking scheme and instructed all the scheduled banks to open and maintain the student accounts. Dutch Bangla Bank Ltd.(DBBL) like the other scheduled banks inaugurated the banking services specially for the school going students and contributed immensely to make the initiative successful. The purpose of the paper is to explain the related concepts of school banking and unveil its contribution and explore the emerging prospects in the years to come where DBBL has been considered as a case. The study collected the data from secondary sources while the consecutive four years’ published annual reports of Bangladesh Bank, DBBL and BANBEIS were considered for the analysis. Trend analysis and descriptive statistics with the help of SPSS software and Microsoft excel were used to summarize and analyze the data. The paper resulted that DBBL performed well with positive growth though the rate of progress is slow. In line with this, the study forecasted an estimated upward trend in terms of account opening and deposit collection for future two years instead of having numerous existing barriers faced by DBBL. To ensure the smooth and rapid growth, Bangladesh bank along with all the stakeholders should emphasize on working together to promote the concept of banking for the students . Keywords: school banking, financial inclusion, financial literacy, dutch bangla bank Ltd. (DBBL). DBBL school savers account, policy guideline of school banking. DOI: 10.7176/EJBM/12-6-09 Publication date: February 29 th 2020

Green Banking: A Mini-Review

Environmental degradation and natural resource shortages are increasingly becoming a threat to human life. Based on the recent research conducted, the prevailing condition of environmental pollution can effectively be addressed through financial institutions and banks. The primary element is starting and managing businesses to take into account land, labor, and capital act. Businesses cannot run without adequate capital. Different types of industrial and production organizations are the key source of finance to most banks and financial institutions. Therefore, there is a great need to come up with a banking system that will aid in reducing pollution on the environment. In an attempt to address the issues of environmental degradation, most countries have adopted the Green Banking practices to provide an alternative for other banking systems. The inability to take into consideration the role of various stakeholders during the implementation stages has been considered a major challenge facing the adoption of this type of banking system. The research paper conducts a comprehensive study on Green Banking and its application in ensuring environmental sustainability. There have been concerns on how Green Banking can contribute to environmental sustainability. The aim of the study is to determine the role of green banking practices in fostering environmental sustainability development by obtaining and testing the data obtained from Dutch-Bangla Bank Limited. Secondary data was employed by the study to investigate the topic of the study. The descriptive statistical tools like simple average, tables, and percentage have been employed by the study to present the data collected from the secondary sources. The result obtained showed that Green Banking practices such as online banking, paperless banking system, and green lending policy contribute positively towards environmental sustainability.

Usage of e-Devices in Banking Sector for Promoting Relationships between Bankers and Customers: A Case Study

The objective of this study is to find out the influence of the usage of electronic devices on the relationships between bankers and the customers. This study has been done mainly based on primary and secondary sources of data. Primary data has been collected from respondents through a structured questionnaire. To conduct this research, interviewing approach has been used on clients of Dutch-Bangla Bank Limited (DBBL) Bangladesh, particularly who avail the electronic banking services. The sources of secondary data were collected from different publications and annual reports of DBBL for the year of 2011 to 2017. Simple descriptive statistics were used and two hypotheses were developed and tested by using one sample t-test to evaluate the effectiveness of using electronic devices in improving bank-client relationship. The results show that the usage of e- devices in banking sector has positive impact an improving service quality and client commitment that eventually strengthen life-time relationships between bank and its clients. Likewise, the findings of the study were as analogous with some other studies where researchers found similar and or different economic characteristics. Hence, it can be beneficial for the policy makers of DBBL as well as other stakeholders of bank.

Correlation Between Banks Corporate Social Responsibility And Profitability: A Study of UAE, Bangladesh and India

The purpose of the study was to correlate bank investments into Corporate Social Responsibility (CSR) initiatives with the financial performance of profitability measured as Return on Assets (RAO) or Return on Equity (ROE). The selected bank from UAE was Abu Dhabi Commercial Bank (ADCB). From Bangladesh, the selected Public Commercial Banks were Dutch-Bangla Bank Ltd. (DBBL) and Islami Bank Bangladesh Ltd (IBBL) and selected State-Owned Banks are Janata Bank Ltd (JBL) and Rupali Bank Ltd. (RBL). From India, the selected banks were ICICI and Axis. The study methodology was KLD Research Analytics and Correlation Coefficient of the Year on Year (YoY) change of the CSR versus profits. There were result outcomes across all these tests. The YoY comparison for ADCB from UAE shows a negative coefficient but strengthening the correlation between CSR and profitability over the five year period. The YoY comparison of ICICI for CSR % to profitability impact had weak correlation and fluctuating coefficient. The YoY comparison for Axis bank showed that the correlation between CSR expenditure and profit is largely positive and the coefficient is also significant. The comparison for PCBs DBBL and IBBL revealed that there was a positive correlation with the profitability, but the YoY CSR% to profitability change shows a weak coefficient. The comparison between the State-Owned Banks JBL and RBL shows that the YoY comparison of CSR% to profitability has a weak correlation but insignificant coefficient. In conclusion, banks should undertake ethical CSR when pursuing profitability.

Evaluation of Financial Performance of Commercial Banks in Bangladesh: Comparative Study Based on CAMEL Approach

Banking industry plays a very important role to the economy of Bangladesh and the financial performance measurement is one of the major considering factors for the banks. The study attempts to analyses and compares the financial performance of Islamic and Conventional commercial banks operating in Bangladesh during 2011 to 2015 using secondary data by applying CAMEL model and other relevant statistical tools. The study revealed that Islamic banks perform better than Conventional banks in terms of capital adequacy, assets quality, and management quality and earnings ability. However, Islamic banks had a weaker liquidity position in comparison to Conventional banks. This study also found that, there is no significant difference between the two banking categories except liquidity position. This study also revealed that under Islamic banking system Al-Arafah Islamic Bank and Exim Bank Limited performed better than other Islamic banks and under Conventional banking system Mercantile Bank Limited and Dutch-Bangla Bank Limited performed better than other conventional banks among the selected banks in the selected time period. The findings of the study will help to increase the confidence and consciousness in the partaking banks in Bangladesh. Finally, some suggestions and recommendations have been provided to increase financial performance of selected banks which will insure those banks sound positioning in banking sector of Bangladesh.

Debit Card Adoption Attributes and Customer Satisfaction: A Study on Dutch-Bangla Band Ltd.

Dutch-Bangla Bank Ltd (DBBL) is one of the most innovative and technologically advanced banks. It stands as a leader in the country's banking sector. Recently it was found that a large number of customers were using debit card for various purposes like convenient, speedy money transaction, easy maintenance etc. To assess which factors were related to debit card adoption, a questionnaire was developed. The survey was conducted among 239 customers from three different branches of Sylhet city. The study showed the significantly influencing debit card adoption factors, which were transaction transparency, shopping through Point-of-Sell (POS) utility bill payment, easiest way to maintain relationship with bank community and so on.Journal of Business and Technology (Dhaka) Vol.11(1-2) 2016; 129-140

Nature of Human Resource Management (HRM) practices and Its impact on Employee’s Job satisfaction: A case study on Dutch-Bangla Bank Limited

Nature of Human Resource Management (HRM) practices and Its impact on Employee’s Job satisfaction: A case study on Dutch-Bangla Bank Limited

Rospect of E-Banking in Bangladesh: New Way to Make Banking Electronic

Being a developing country E-banking opened up tremendous opportunity to the financial sector and economic development of Bangladesh. This paper studies prospects of e-banking in Bangladesh, considering the performance of Dutch Bangla Bank Ltd. (DBBL) and BRAC Bank Ltd. To evaluate the performance of DBBL and BRAC bank seven trend equations have been tested for different activities of DBBL and BRAC Bank. Among them trend value of number of ATM, recoveries from clients, number of branches, charges from services, income from IT service, card expenses, depreciation on computer equipment and software, other operating expenses, cash carrying charges, net income and EPS are positive in case of both banks during the period of 2008-2015. The square of correlation coefficient (r2) of number of ATM, recoveries from clients, number of branches, income from IT service, card expenses, depreciation on computer equipment and software, other operating expenses, cash carrying charges, net income and EPS is more than 0.5. It indicates the prospect of E-banking in Bangladesh is very bright

Creating Shared Value at Dutch-Bangla Bank Limited in Bangladesh

The Creating Shared Value (CSV) concept (creating business value through creating social value by addressing societal unmet needs and challenges) has been appeared as a new way of doing responsible business in the world and formed the core of recent business research. The study strives to investigate reflective insights into the Porter and Kramer’s CSV concept taking evidence from Dutch-Bangla Bank Limited (DBBL) in Bangladesh. The results show that DBBL has been creating shared value through its innovative products and services like mobile financial services, school banking, and agricultural, SME and environment friendly banking. The results also indicate that DBBL has been creating shared value along the three areas of Porter and Kramer’s CSV concept but mostly through reconceiving products and services, and redefining value chain to improve productivity. Taken as a whole, DBBL has been sharing its CSV with different stakeholders for mutual benefits.

Analyzing Tobin’s Q Ratio of Banking Industry of Bangladesh: A Comprehensive Guideline for Investors

Due to the share market crash in 2010-2011, the investors have lost confidence regarding the share market till now. Therefore, this study is an endeavor to giveaway to rethink about the share market of Bangladesh and to increase the confidence of the investors. For that, Tobin’s Q ratio used to analyze the share market in this study. Tobin’s Q represents the ratio of the market value of a firm's share capital to the replacement cost of the firm's share capital. Tobin’s Q is greater than one means stock is overvalued. Tobin’s Q is less than one means stock is undervalued. Again, Tobin’s Q is equal to one means stock is fairly valued. The study found that, the value of Tobin’s Q of the all sampling banks is gradually decreasing means moving the value of the stock from overvalued to undervalue. The value of Tobin’s Q of the all sampling banks is less than one in the year 2014 except Dutch Bangla Bank Limited (DBBL). The average value of Tobin’s Q of the banking industry is also decreasing and the average value of Tobin’s Q of the banking industry is less than one in the year 2014. Thus, the average stock value of the banking industry is moving from overvalued to undervalue gradually. Again, the value of Tobin’s Q of all sampling banks fell down drastically from the year 2010 to the year 2011 as share market has been crashed in those years. As a result, the average value of Tobin’s Q of banking industry also fell down drastically from the year 2010 to the year 2011. Therefore, the value of the share slopes down drastically from the year 2010 to the year 2011.

Scopes and threats of Mobile Financial services in Bangladesh

Mobile financial service (MFS) is getting popular everyday in Bangladesh. Mobile financial service is a tool to facilitate people with legitimate transaction process without the help of conventional banking system. This service is available through the mobile phone network, thus it may cover the remotest location of a country with least possible cost incurred. This service is very effective in a country that is geographically challenged like Bangladesh, Kenya, and Nigeria etc. And the world has already seen the result; M-Pesa (Mobile financial services in Kenya) is the largest MFS Company in the world. The essence of this service eventually make the number of transactions and amount humongous. The scope of MFS has not yet been explored properly in Bangladesh. If explored properly this can well be one of the biggest industry in Bangladesh which may help her reducing existing unemployment problem to an extent. There are some threats related to this service such as money laundering, corruption. I have done my research on this for last three years and finally prepared this paper. th in the world. Most of the people living here in rural and doing agriculture related work for their living. There are six major cities in Bangladesh where people from all over the country come for earning their living. Thus every month end they send money back to their home by difference means such as post office, courier, through another person etc. Most of the medium mention here is not secure enough and legitimate. So the need was there to send money properly and legitimately back to their home. Few visionaries from Bangladesh were observing this for a long time and were trying hard to find a solution to this sensitive issue. Finally they found a solution, but they were afraid about the execution of this new process as the literacy level of our country is not up to the mark. Most of the people are far away from the technological development of the current world. Finally in early 2010 through Bangladesh bank permission Dutch Bangla Bank launched the long awaited solution and that is mobile financial service (MFS) through mobile network. And the revelation begins from then. Unlike from other courtiers of the world Bangladesh choose Bank lead Mobile financial service model. In this model Banks will be in the driving seat tagged with telecom operators to run the show. The government of Bangladesh took this decision by taking the money laundering issue as the prime consideration. Bangladesh Bank then issued license to 28 commercial banks to launch mobile financial services in Bangladesh. And 19 banks are providing the service in the market (Source: Bangladesh Bank website). Later they cancelled license of three of the banks for some regulatory grounds. Now there are 25 banks that are authorized to provide this service in the market. Banks alone cannot provide this service; telecom operators are one of the key important factors to start the operation. Most of the operators understood this at a very primary stage of MFS operation, that's why they forced the banks to get into a contract that facilitates the telecom operators significantly. They are charging very rates to the banks to operate. Recently Bangladesh bank identifies this anomaly, and they are taking proper measures to rectify this issue. In Bangladesh this service is getting popular every day. Having introduced in early 2010, it has already become one of the largest Industry of this country.