Service Strategy of Banking Industry in Bangladesh: A Case Study on Social Islami Bank Limited

Abstract

This thesis examines the service strategy of the banking industry in Bangladesh, with a specific focus on Social Islami Bank Limited (SIBL). The banking sector plays a crucial role in the economic development of Bangladesh, and the service strategies employed by banks have a significant impact on their competitive advantage and customer satisfaction. The objective of this research is to analyze the service strategy of SIBL and assess its effectiveness in meeting the evolving needs and expectations of its customers. SIBL has developed a diverse range of delivery channels to enhance convenience and accessibility for customers, including branch networks, ATMs, internet banking, and mobile banking. The bank has also prioritized relationship management, emphasizing personalized customer service, relationship building, and continuous engagement. Moreover, SIBL has demonstrated a commitment to adopting and integrating technology into its service strategy. The bank has implemented various technological solutions to enhance operational efficiency, improve service quality, and provide seamless banking experiences. The study concludes that SIBL's service strategy has contributed to its competitive advantage in the banking industry in Bangladesh. The bank's customer-centric approach, combined with its focus on Islamic banking principles, has enabled it to differentiate itself in the market and build strong customer relationships. The findings of this research provide valuable insights for the banking industry in Bangladesh, as well as for other Islamic banks, by highlighting effective service strategies and areas for improvement. Overall, this thesis contributes to the existing literature on service strategy in the banking industry, specifically within the context of Bangladesh, and offers practical recommendations for enhancing the service strategies of banks to meet the changing demands of customers in a competitive market.