Banking service in
Bangladesh is characterized as a highly competitive and highly regulated
sector. With a good number of banks already in operation and a few more in the
pipeline, the market is becoming increasingly competitive by the day.
With the global
slowdown in the face of rising competition, the commercial banks are constantly
looking for ways to develop their market and product offers to remain ahead of
others. A significant amount of regulation by Bangladesh Bank prevents the
scope of introducing newer products into the market and thereby restricts a
banks’ ability to outperform others with a diversified product range.
However, recent trends
have shown banks shifting away from vanilla products (basic products) towards
higher value added products that are highly structured, to meet the needs of
the clients.
Standard Chartered Bank
is the oldest multinational bank operating in Bangladesh. It has, over the
years, created one of the largest networks among all the foreign banks in Bangladesh.
Although a trendsetter in offering a various range of products in the market,
the product offers of Standard Chartered Bank are quickly imitated by competitors.
Substitutes offered by other commercial banks make their way into the market
and thereby eat a portion of the margin.
Standard Chartered
Bank’s Priority Banking division is a truly personalized and professional way
of banking. Priority Banking understands that the more consumers succeed in
life, the less tome consumers seem to have. Priority Banking is
personalized wealth management program at Standard Chartered Bank. It is
Standard Chartered Bank’s endeavor to be the right partner in the consumers’
personal and business ventures. That's why priority banking has been tailored
to offer consumers’ the highest level of service, appropriate to consumers’
unique requirements and status. With over 150 years of experience, Standard
Chartered Priority Banking helps meet the wealth management needs of customers,
customer’s family and customer’s business by offering objective and well
researched financial solutions. Standard Chartered Bank has the energy and
commitment, the competence and experience to understand customer’s needs and
aspirations and help customers realize customer’s financial goals today and in
the future. The Priority Banking program revolves around five main cornerstones
of service –
Ø Personal
Ø Professional
Ø Profitable
Ø Private and
Ø Privileged
Standard
Chartered Priority Banking is an exclusive banking service for those who want
the best. Priority Banking provides its consumers long range of services (most
of the services are free of charges), products, facilities, help and
support. Priority consumers enjoy dedicated Customer Relationship Manager
(CRM). They are always very conscious about their consumers. Lastly I can say
this is a very good banking system by which Standard Chartered Bank serves its
loyal consumers. And by doing this Standard Chartered Bank earns very good
reputation to its consumers and increases its business in Bangladesh.
by Adnan Efad
by Adnan Efad
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