Internship Report on Customer Service of IFIC Bank [ Part-4 ]
Subject: Business, Management | Topics:

SWOT Analysis: IFIC Bank Limited

The strengths, weaknesses, opportunities and threats of IFIC Bank Limited are noted below as I have found in my analysis.

Strong capital position of the bank
Capability to mobilize substantial deposits through various deposit schemes despite low offering.
Low non-performing assets or classified loans of the bank signify strengths in credit customer selection.
Ability to maintain positive non-interest margin that signifies efficiency in earning fee incomes.

Lack of adequate liquidity of the bank
Management’s inability to converts assets into earnings efficiently which results in decrease in return of assets, return on equity and earnings per share.
Inability to cope with economic conditions resulted in slower growth of interest earning assets than of interest bearing liabilities. The net effect was decline in operating profit in the recent year.

Technology integration for automation of business process can gain competitive edge over the others.
Increasing awareness of Islamic banking can bring more success for Islamic Banking Branches
The revolution of Information Technology (IT) in the country may lead to success for the bank, as IT sector is a major target area for lending.

Increased competition in the market for public deposits
Market pressure for lowering the profit or interest rate
Volatile global and local economic scenarios
High concentration in loans as percentage of total deposit may cause severe liquidity problem if significant percentage of loan holder become default.
The declining return on equity, earnings per share and dividend can give danger signal to the investors.

Chapter 5
Research orientation of customer’s feedback of IFIC bank ltd.

Graphical findings:

From this graph I have seen that 22% customers are highly accepted, 33% customers have preferred modern banking, 25% customers have looked on facility and 20% customers have preferred quick banking.

From this graph I have seen that 13% rough, customer have preferred 44% very friendly, 20% very rough and 23% customer have preferred friendly.

Here, 12% customer preferred other account, 56% customer saving account, 15% current account and 17% customer preferred access account.

Here I have seen 30% very fast, 13% within their experience, 10% with in expected time and 47% customer have looked on takes more times.

17% customer have looked on very friendly, 20% looked on dedicated, 50% normal and 13% customer preferred rude behave of the tellers with the customer.

Here I have seen 17% of excellent, 13% of good service, 50% customer preferred not so first and 20% have looked on out of service problem.

17% of very friendly personnel, 13% of not so friendly, 20% very friendly and knowledge personnel and 50% customer say they are not so outspoken.

Here I have seen 18% of normal, 13% of affordable, 15% very high and 54% says high about their charges.

About their credit facilities I have found 40% difficult to get a credit, 17% quick credit service, 20% lengthy and 23%

23% customers have looked on very fast, 13% have looked on very slow, 17% slow and 47% have looked on their quick on line service.

20% customer preferred on easy to convert into cash, 17% excellent service, 13% low cost and 50% supported easier to transaction.

Here 20% customer have said none of the above, 17% said fast, 15% very fast and 48% said they are very slow.

About their loan interest rate I found from my graphical findings that 17% very high, 18% low, 12% very low and 53% high.

About their fixed deposit rate 30% very high, 20% low and 50% high.

About their switching cost 22% customer preferred on very high, 27% preferred on low and 51% customer preferred their switching cost is high.

47% customer preferred on SOD, 20% OD, 18% CC hypothecation and 15% CC pledge.

About their credit card charges 30% customer have looked on it is low, 20% high and 50% customer have looked on their credit card charges is medium.

46% customer said it take twenty minutes, 22% fifteen minutes, 20% ten minutes and 12% said it takes less then ten minutes.

40% customers disagree, 20% strongly agree, 23% agree and 17% strongly disagree about the tellers efficient in work.

20% customer said seating problem, 15% less cash counter, 17% big queues and 48% said less space.


In order to get competitive advantage and to deliver quality service, top management should to modify the services.
Rectify the Existing Problems:

As there is no classified loan, branch should monitor the loans & advances closely to avoid classification in future.
Banani Branch should extend with their all out effort to increase the credit portfolio and to procure more low cash deposit, increase non funded business so as to minimize dependency on interest earning from IFIC Bank general account and to improve overall business performance of the branch to maintain earning.
When a joint stock company comes to open an account if it’s an existing one, the account opening officer should ask the copies of the Balance Sheet and Income Statement. These will reflect the financial growth of the company and its soundness but in practice bank do not do this. If they have all these that will help them to examine money laundering risk.
There are numbers of new private banks and some have already activated with their extended customer service pattern in a completely competitive market. Where as IFIC Banani branch is far behind. They are not competitive in customer service because the officers do not behave in professional manner in fort of customer.
To deliver quality service top management of this breach should try to mitigate the gap between customer’s expectation and employee’s perception and customer’s convenience should give priority.
IFIC Bank should always monitor the performance of its competitors in the field of Foreign Trade.
IFIC Bank Ltd. must develop electronic banking system to moderate the service. Technological advantage of a bank ensuring its competitive edge in the market place which can only be achieved by improved technology, efficient manpower and better services.


Customer service is a big factor for a bank to keep the customer happy and satisfied with the services that bank can provide with highest effort. A bank is an intermediary institution, which deposited customer’s money and again invests it to other customers to reach the goal as well as specific objective. A bank can not be able to reach the goal until it makes the customer satisfied by providing services as much as the customer needs.

In this report the importance of customer service has been highlighted. It indicates that the customers are the most valuable assets for a bank. Without having a good number of customers and a good relation with the customer a bank can’t run well in this era because there is huge competition. So I tried to make a relationship scenario of customer with this bank to measure the service quality.

To be the number one bank, there should be a strategy for a bank, that customers are the source of fund and customer should get all the benefits, whish can provide a lot for the customer and as well as can bring a lot for the bank. So each and every strategy should build on the basis of mutual benefit.

After preparing this report it is become easy to say that there should be a goal to make the customer always happy and satisfied with the service, only then a bank can run its business safe and soundly in this competitive era.


More part of this Report-

Internship Report on Customer Service of IFIC Bank [ Part-1 ]

Internship Report on Customer Service of IFIC Bank [ Part-2 ]

Internship Report on Customer Service of IFIC Bank [ Part-3 ]

Internship Report on Customer Service of IFIC Bank [ Part-4 ]

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