Final Report

Marketing Strategies of Financial Services and Its Operational Drawbacks: A Study on Eastern Bank
Limited.
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Marketing Strategies of Financial Services and Its Operational Drawbacks: A Study on Eastern Bank
Limited.
PREPARED FOR
Washim Palash Internship Supervisor Dept. of Business Studies

PREPARED BY
Sadia Naushin
PG: 02-22-09-011 22ND BATCH
Master of Business Administration

(Regular)
Date of Submission: 25/08/2011
School Of Business Social Studies
State University Of Bangladesh
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Letter of Transmittal
August 25, 2011 Washim Palash Faculty In Charge Of Internship And Placement Faculty of Business Administration State University of Bangladesh 77, Satmasjid Road, Dhanmondi, Dhaka-1205, Bangladesh Subject: Submission of the Internship Report.
Dear Sir, I have the pleasure to submit my Internship Report on Marketing Strategies of Financial Services and Its Operational Drawbacks: A Study on Eastern Bank Limited... You are aware of that I have started my career as Contact Center Executive in Eastern Bank Limited (EBL), Gulshan Branch, Bangladesh from April 20, 2011. I am fortunate enough that I have got an experienced, efficient and professional team in one of the most reputed private Bank of Bangladesh. I truly believe that this report will satisfy your requirements and expectations. I have tried my best to make this report informative, practical, reliable and relevant as possible. To prepare this report I have reviewed some books, journals and download information from internet and on the basis of available information, I draw a set of recommendations which I think will help to create Marketing Strategy of Financial Services to improve their competence. I appreciate your kind advice, cooperation, patience and suggestions regarding this report which will definitely help me to go ahead as a brilliant guideline. I will be available for any further query and clarification regarding this report whenever necessary. Sincerely,
Sadia Naushin Student ID # PG:02-22-09-011 Faculty Master of Business Administration
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Letter of Authorization
This is to certify that Mrs. Sadia Naushin, daughter of Late. Al-Haj Abdur Rahman Khan and Mrs.Jabin Rahman, is the student of State University Of Bangladesh bearing ID. No. PG: 02-22-09-011 has completed his Internship in our bank from April 20, 2011 to onwards. During this period she has worked in different areas of banking.
She was punctual and dedicated to her duties in our observation.
We wish every success in her life.
Utsav Lahiri In Charge, Priority and Corporate Manager.
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Declaration
I thereby declare that, the internship report Marketing Strategies of Financial Services and Its Operational Drawbacks: A Study on Eastern Bank Limited. has been done by me under the supervision of Mr.Washim Palash, Faculty Member in Charge of Internship & Placement, Business Administration, State University of Bangladesh. I also declare that neither this project nor any part of this project has been submitted elsewhere for award of any degree or diploma.
_________________ (Sadia Naushin) Student ID # PG: 02-22-09-011 Faculty of Business Administration State University of Bangladesh
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Supervisors Note
Sadia Naushin, student of MBA of the Department of Business Administration bearing the ID No. PG: 02-22-09-011 has prepared the internship paper on Marketing Strategies of Financial Services and Its Operational Drawbacks: A Study on Eastern Bank Limited. as a requirement for the MBA Degree. To the best of my knowledge, she has completed all the required courses of the program and the report has been prepared by her.
(Washim Palash) Faculty Member Dept. of Business Studies State University of Bangladesh
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Acknowledgement
First and above all else, I would like to pay my deepest gratitude to the almighty Allah who has helped me through all the difficulties in my life and showed me the right path. It is Allah who has made my journey into the vast sea of knowledge smooth and easier. As a guide, I would like to show my gratitude to Mr. Washim Palash, who instruct me in the right way and gave me proper instruction for preparing this internship report. At the very outset, I would like to take this opportunity to express my gratitude to Mr. Md. Mustafizur Rahman, Head of the Contract Centre, also for giving me the opportunity to carry career in Eastern Bank Limited also allow me to do the internship report on EBL; also I like to show my gratefulness for his continuous inspiration and supervision. Without his guidance and support it would not have been possible to come this far. I would also like to thank my colleagues for her continuous support, inspiration and giving me the opportunity to deal with different corporate aspects and clients. I should mention some of them, Sabrina Haider Chowdhury, Zahid Hossain Khan, Antar Zaman, Mahmood Sufi, and Saber Ahmed and Utsav Lahiri, for their endless support and cooperation. My sincerest thanks go to the others who were involved and helped directly and indirectly in preparing this report of my MBA in Finance program.
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Executive Summary
With a vision to become the bank of choice and to be the most valuable financial brand in Bangladesh, Eastern Bank Ltd. (EBL) began its journey in 1992. Over the years EBL has established itself as a leading private commercial bank in the country with undisputed leadership in Corporate Banking and a strong Consumer and SME growth engines. Bangladesh Banking Sector has grown from strength to strength over the past one decade and is fiercely competitive, especially in the Consumer Banking segment. EBL offers a wide range of depository, loan and card products to cater virtually for every customer segment. From Student Banking to Priority Banking to Platinum card EBL has almost all banking products in its repertoire. The product basket is rich in content featuring different types of Savings & Current Accounts, Personal Loans, Debit Cards, Credit Cards, Prepaid Cards, Internet Banking, Corporate Banking, SME Banking, Investment Banking, Treasury & Syndication services. The customers are served through a network of 49 Branches, 76 ATMs and 6 Kiosks countrywide. EBL has its presence in 11 major cities/towns in the country including Dhaka, Chittagong, Sylhet, Khulna, Rajshahi & Coxs Bazar. The target of this report to formulate Marketing Strategy & Operational Drawbacks of Eastern Bank Limited, in terms of both Product Marketing & Service Marketing, so that they can be more competitive in the Financial Service, like Banking Industry with a view to how to counter the ensuing challenges in the industry as a consequence of changing global business nature and technological development. For this purpose, organizational vision, mission, objectives, activities and current Marketing Strategies of Eastern Bank are analyzed at the initial stage. Then SWOT analysis is conducted in light of internal and external environment. In this instance, vast analysis is conducted on the basis of financial analysis.
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TABLE OF CONTENTS
1. INTRODUCTION 1.1 Origin of the Report 01 1.2 Background of the Report 02 1.3 Objective 1.3.1 1.3.2 02 02 Primary Objective 02 Secondary Objective 03 03 03
1.4 Scope of Study 1.5 Methodologies
1.5.1 Primary Source of Information 1.6 Limitation 04
1.5.2 Secondary Source of Information 04
2. Financial Services- Its Definition & Types:

2.1. 2.2.
Definition..06 Types of Financial Market as well as Financial Services.06
2.2.1. Money Market07 2.2.2. Capital Market....07 2.2.3. Primary Market..07 2.2.4. Secondary Market.07 2.3. Participants of the Capital Market..08 I. II. Insurance Investment Corporation of Bangladesh (ICB)
2.4.
III. Mutual Fund IV. Banking V. Specialized Banks Types08
3. Brief Profile of Eastern Bank Ltd. .Eastern Bank Limited..10 .Vision..11 .Mission11 .Values.11 .Board of the Director12 .EBL Management 12
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. EBL Management Committee (ManCom)13 . EBL Achievements..13 . Company Milestones14 3.10.Brand Communication..14 Brand Value..15 4. Product & Service of Eastern Bank Ltd. Consumer Banking..16 4.1.1 Consumer Deposit Products16 4.1.1.1 4.1.1.2. EBL Interesting Account... 16 EBL Campus Account.. 16
EBL Confidence.17 Consumer Loan18 4.1.2.1EBL Utshab Loan.18 EBL Home Loan...19 EBL Auto Loan.19 EBL Cards. 4.1.3.1EBL VISA Platinum Card. Simple Credit Card.. LifeStyle Card... EBL Travel Card... Corporate Banking Business Relationship Units (BRUs).. Customer Support Unit (CSU)... Structured Finance Unit (SFU). Project Finance Unit International Division.. Cash Management Unit. Investment Banking Unit (IBU). SME Banking
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EBL Agrim EBL Asha EBL Puji 4. Marketing Strategies taken by Eastern Bank Ltd. to market- Its Product & Services 5.1. Marketing Strategies taken by Eastern Bank Ltd. to market Problem Recognition Information Search Evaluation of Alternatives Purchase Decision Post Purchase Behavior Market 5.1.1. Market Segmentation Analysis Geographic Segmentation Demographic Segmentation Psycho graphic Segmentation Marketing Brand Positioning Want Demand Product Service 5.7 Customer Relationship Management Types/Variations of CRM Types/Variations of CRM 5.8 Marketing Strategies taken by Eastern Bank Ltd. to market- in terms of Product 5.8.1.EBL Secure deposit 5.8.2. EBL Junior 5.8.3.EBL Jibandhara Loan 5.8.4.EBL Mukti
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5.8.5.EBL VISA Signature Card 5.9. Marketing Strategies taken by Eastern Bank Ltd. to market- in terms of Service. 5.9.1Contact Center 5.9.1.1.Introduction 5.9.1.2.Services 5.9.1.3.Benefits 5.10.EBL Contact Center (Phone Banking) Service 5.10.1.TERMS & CONDITIONS 5.11. Channel of Advertising 5.11.1. ATL 5.11.2.BTL 6.Drawbacks of Their Strategic Operation Regarding Market 6.1The Key Drawbacks of Their Strategic Operation Regarding Market 6.1.1.Upcoming Banks 6.1.2.Similar Products Are Offered by Other Banks 6.1.3.Limited ATM Facility 6.1.4.Real Time Banking 6.2.Narrow Operating Span 6.3.Absence of Strong Marketing Activities 6.4.More Innovative Products Must Be Offered 7.Conclusion 7.1.Findings 7.2.Recommendation 8.Recomendations
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The Report
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Chapter # 01
Introduction
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Marketing Strategies of Financial Services and Its Operational August, Drawbacks: A Study on Eastern Bank Limited. 2011
1. INTRODUCTION
1.1 Origin of the Report
As a student of the MBA Program of State University of Bangladesh internship program is compulsory for the MBA student. Because an internship program is the reflection of all the theoretical knowledge that a student gained during last two years and they have the practical participate on and involvement in the real world working experience. The work on this report was carried out as work experience at Eastern Bank Limited, Gulshan Branch, Dhaka in the Contact Center Division. The primary goal of this internship report is to provide what Marketing Strategies be taken by the Eastern Bank and to find out the Operational draw backs of the Bank. Students are placed in enterprises, organizations, research institutions as well as development projects. Eastern Bank Limited is one of the leading private banks of Bangladesh. To maintain its leading position in Bangladesh, Eastern Bank Limited is always keen to develop long-term beneficial and trustworthy relationship with clients. At the same time, they have always upgraded their approaches to achieve profitability. Before submission of Internship report I, Sadia Naushin, have placed myself in Eastern Bank Limited, Gulshan Branch, Bangladesh as Contract Center Executive. The duration of my organizational attachment is, by policy, 4 (four) months and the contract is for the one year, starting from 20th April, 2011. For successfully and completely finish the level of MBA program, I needed to submit this report. The report contains an overview of the organization that I was attached with, and elaboration of the project during the internship period. I am working in the Contact Center Division (CCD) in the Eastern Bank Limited, under the direct supervision of Mr. Md. Mustafizur Rahman, Head of the branch of Eastern Bank Limited, Gulshan Branch, Bangladesh.
1.2 Background of the Report

The report is submitted to State University of Bangladesh (SUB), as a part of internship program. The report is based on the Marketing information Operational Draw Backs, which has been gathered during the internship period. The report titled Marketing Strategies of Financial Services and Its Operational Drawbacks: A Study on Eastern Bank Limited..
1.3 Objective
The objective of the report is to familiarize, describe with Eastern Bank Limited, its Marketing activities and Operational Draw Backs, Contact Center activities, the Organizational Structure, Management Style and Customer Services.
Figure 1-1: Objectives
Primary Objective The main objective of this report is to accentuate the services provided by the Marketing team of Eastern Bank Limited to their valuable clients and along with that to present an extensive analysis about customers attitude towards the service for its Operational draw backs. Secondary Objective Getting familiar with the environment of a private financial institution of Bangladesh that is Eastern Bank Limited. Identify the major strengths of Eastern Bank Limited. Provide with probable solutions for the improvement of the customer service quality and strategies for Customer Relation Management (CRM). Presentation of market scenario of banking sector of Bangladesh and the current position of Eastern Bank Limited as a Private Commercial Bank.
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To know about the overall banking functions of EBL. To know about the management style and organizational structure of Eastern Bank Limited.
To identify the problem and weakness of Eastern Bank Limited. To suggest necessary measures for the development of Eastern Bank Limited.
Scope of Study
The scope of this report is limited to the overall descriptions of the bank, its services, its position in the industry, and its competitive advantage as a Private Commercial Banks. The scope is also defined by the organizational set-up, functions, and performances.
Methodologies
In the organization part, most of the information has been collected from different published articles, journals, brochures, web sites and personnel of Eastern Bank Limited. All the information incorporated in this report has been collected both from the primary sources and as well as from the secondary sources.
Figure 1-2: Methodology
Primary Source of Information Primary Source of Information: EBL Website. (www.ebl.com.bd) Contact Center Division Operational process of the EBL
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Audit report 2010 of EBL Close observation with Marketing Team Observation during the total working hour Discussion with officials of Eastern Bank Limited Data from Customer Responses and Customer Responses about Eastern Bank Limiteds competitors which was collected for the purpose of this report
Secondary Source of Information Secondary Sources of Data: Internet Text books Banks other published information In order Periodic bulletins published by the Bangladesh Bank Relevant Eastern Bank Limited paper and published documents to complete this paper I made the following sequential steps for easy understanding by the readers Selecting the Goal Selection of Sample units Collection of Data through primary and Secondary Sources Processing of Data
Limitation
A wholehearted effort was applied to conduct the study work and to bring a reliable and fruitful result from which proper strategy can be adopted to strengthen the
market condition of Eastern Bank Limited. In spite of the best efforts, there were limitations that acted as barriers to conduct the study. Large-scale research was not possible due to constraints and restriction posed by the organization To protect the organizational confidentiality some parts of the report are not in depth. It was very difficult to give enough time to concentrate on the report, as the bank authority doesnt allow leaving the office before the exact working hours. Internal and financial information of the bank is confidential & critical. The findings are not statistically validated. Limitation of time was one of the most important factors that shortened the present study. Rush hours and business was another reason that acts as an obstacle while gathering data. Information of the competitor banks were less accessible and difficult to collect.
Figure 1-3: Report Limitation
2. Financial Services- Its Definition & Types:

2.1. Definition-
From time immemorial, the phrase "financial services has been commonly used especially concerning money issues. For better understanding of its meaning, it is important therefore to first understand what finance is. Finance relates to raising of money through issuance and sale of debt or equity. It is a branch of economics whose main goals relate to allocation of resources, management of resources, how the resources are acquired and investments. In general, finance implies interacting with matters that deal with money and the markets. The concept of finance considers time, money and risk and how they relate or interrelate. A service is an equivalent of an economic good that is intangible. The person or firm offering the service boosts the ability, resources skills and or experience to offer a balanced satisfaction of client need while at the same time remaining relevant and functional in an economy. Financial services therefore are those services that are offered by the institutions, which deal with the management of money and other factors that relate to the flow of money in an economy. Financial services can be defined as the products and services offered by institutions like banks of various kinds for the facilitation of various financial transactions and other related activities in the world of finance like loans, insurance, credit cards, investment opportunities and money management as well as providing information on the stock market and other issues like market trends. 2.2. Types of Financial Market as well as Financial Services
Financial market can be classified in different ways. It can be classified in terms of duration of the securities that are being traded in the market. Again, the market can be classified in terms of the nature of securities.
In terms of the duration of the securities, financial market can be of two types; 2.2.1. Money Market, and 2.2.2. Capital Market.
2.2.1. Money Market
The money market is the market where financial securities maturing in less than one year. That is, the maturities of the securities can be any combination of months within one year. In general, the borrowers who are in need of short-term funds to buy raw materials or maintaining inventory, buys short-term securities. Typical money market instruments are certificates of deposits, treasury bills, post office savings etc.
2.2.2. Capital Market
The capital market is the market where the securities maturing in more than one year. Such maturities can be for 2, 3, 5, 10 or any number of years. These types of securities are necessary for the investments in long-term assets; i.e. buildings, machinery; etc where the outcome of the investment can not be realized within one year. Again, Market can be differentiated in two ways in terms of the nature of the securities traded. 2.2.3. Primary Market, and 2.2.4. Secondary Market. 2.2.3. Primary Market: The primary market is the market where newly issued securities are traded. That is, in this market newly issued shares, debentures, bonds; etc are traded. The trade initiates after initial public offering of the securities. 2.2.4. Secondary Market: The secondary market is the markets where the existing securities are traded apart of those are newly issued. It implies that the securities, which are already in the market and traded over a period, are the subject matter of the secondary market.
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2.3.
Participants of the Capital Market
There are a number of organizations that actively take part in the capital market. These are; I.
II. III. IV. V.
Insurance
Investment Corporation of Bangladesh (ICB) Mutual Fund Banking Specialized Banks,etc.
2.4. I.
Types- Most common types of Financial Services are:

Insurance
A contract in which one party agrees to pay for another party's financial loss resulting from a specified event (for example, a collision, theft, or storm damage). Lease agreements generally require that you maintain vehicle collision and comprehensive insurance as well as liability insurance for bodily injury and property damage. II. Investment Corporation of Bangladesh (ICB)
The Investment Corporation of Bangladesh was established in 1976 with the objective of encouraging and broadening the base of industrial investment. ICB underwrites issues of securities, provides substantial bridge financing program, and maintains investment accounts, floats and manages closed-end & open-end mutual funds & closed-end unit funds to ensure supply of securities as well as generate demand for securities. ICB also operates in the DSE and CSE as dealers.
III. Mutual Fund
A mutual fund enables investors to pool their money and place it under professional investment management. The portfolio manager trades the fund's underlying securities, realizing a gain or loss, and collects the dividend or interest income. The investment 8
proceeds are then passed along to the individual investors. There are more mutual funds than there are individual stocks. IV. Banking
Financial intermediary Institutions for receiving, lending, and safeguarding money as well as conduction other financial transactions. There are several types of banks: central banks, commercial banks, corporate banks, credit unions, savings banks, trust companies, finance companies, life insurers, investment banks, etc. Banks have drastically evolved throughout time, increasing their services but also becoming institutions that cater to greater numbers of people. V. Specialized Banks
Bangladesh Shilpa Bank (BSB), Bangladesh Shilpa Rin Sangstha (BSRS), Bank of Small Industries and Commerce Bangladesh Limited (BASIC), some Foreign Banks and NCBs are engaged in long term industrial financing.
3. Brief Profile of Eastern Bank Ltd.

Eastern Bank Limited
EBL is known for its product innovation in the market. During the past five years, EBL introduced 12 new-to-Bangladesh financial products and services. EBL Matribhumi the bundle product for expatriate Bangladeshis, insurance covered monthly savings scheme, VISA corporate cards, remittance card and mobilebased remittance solution are just a few of them. On the SME banking window EBL offered customerfriendly and groundbreaking products like EBL Uddom and EBL Mukti. At present, EBL Consumer, SME and Corporate Banking units are capable of handling every kind of customer financial needs.
Figure 2-4: EBL Official Logo
Things we didnt know about EBL EBL is the first bank in Bangladesh to go online. EBL provided the first Green Loan in Bangladesh in Solar Panel manufacturing plant which will contribute to transform the lives of 1 million people of the most remote and off-grid areas by lighting up their homes. EBL is the first ever local bank to finance Aircraft purchase deal of Biman Bangladesh Airlines. Prior to this, only multinational banks used to finance such projects. EBL generates highest profitability per employee in Bangladesh Banking sector.
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Vision
EBL launched first ever Bank- sponsored Mutual Fund in Bangladesh.
To become the most valuable brand in the financial services in Bangladesh creating long-lasting value for our stakeholders and above all for the community we operate in by transforming the way we do business and by delivering sustainable growth.
Mission
We will deliver service excellence to all our customers, both internal and external.
We will ensure to maximize shareholders' value. We will constantly challenge our systems, procedures and training to maintain a cohesive and professional team in order to achieve service excellence.
We will create an enabling environment and embrace a team based culture where people will excel.
Values
Service Excellence We passionately drive customer delight. We use customer satisfaction to accelerate growth. We believe in change to bring in timely solution.
Openness Trust
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We share the business plan. We encourage two way communications. We recognize achievements, celebrate results.
We care for each other. We share learning/ knowledge. We empower our people.
Commitment We know our roadmap. We believe in 'continuous improvement'. We do not wait to be told.
Integrity We say what we believe in. We respect every relationship. We do not abuse information power.
Board of the Director
Mr. Mohd. Noor Ali, Chairman Md. Showkat Ali Chowdhury, Director Mr. Mir Nasir Hossain, Director Mr. Ali Reza Iftekhar, Managing Director and CEO
EBL Management
The EBL Management Team or Management Committee (ManCom) comprises of a group of eleven people and each of them comes with an international working background and are committed in leveraging their experiences to take EBL to greater heights by ensuring top line revenues with dynamic capabilities.
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EBL ManCom is unique in being able to envision the need of the business by bringing in a mixture of advanced technology solutions know-how and revamping the organizational make- up for maximum profitability. The objective of EBL ManCom is to drive the business to maximize the operational excellence and efficiency through acquisition of talent, developing systems, processes and people and through blending in of these to let customers revel in with fulfillment and permanency.
EBL Management Committee (ManCom)
Ali Reza Iftekhar, Managing Director and CEO Muklesur Rahman, Deputy Managing Director (Consumer Banking) S. M. Akhtaruzzaman Chowdhury, SEVP & Head of Operations Sami Karim, SEVP & Head of SAMD, (SME-S & CNB) Omar F. Khandaker, IT Consultant
EBL Achievements
EBL believes in relationship building and focuses on sustainable and long term growth both for the bank, its clients and the community it operates in. Despite the constant threat of the global economic recession and its subsequent effect on the Bangladesh market in 2010, EBL's Profit After Tax grew by 66.70% from last year. The Non-Performing Loan Ratio dropped to 1.99% from 2.46%.
Eastern Bank Ltd. has been recognized as a Superbrand for the period 2009-2011. Superbrands is an independent international organization that recognizes top brands worldwide on a global standard.
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EBLs sincere efforts are well-appreciated by all and have gotten recognitions from local and international institutions like Institute of Chartered Accountants in Bangladesh, Superbrands Inc., South Asian Federation of Accountants.
Company Milestones
August 16, 1992: Date of commencement of banking operations. March 20, 1993, Listed with Dhaka Stock Exchange Ltd. July 17, 2003: First online banking operations across all the branches. May 19, 2004: Commencement of operation of Offshore Banking Unit, Bangladesh.
July 1, 2007: Launched Own Managed Cards Software and Production System.
May 25, 2008: First Right Issue declared @ 2:1 at par. April 2009: Awarded Superbrand by Superbrands Inc. for the period 20092011.
September 21, 2010: EBL launched VISA Corporate Platinum Card for the first time in Bangladesh
Brand Communication
EBLs communication initiatives leverage its renowned logo introduced in 2003, the tri-colour mnemonic signifying the colours of the sun (Yellow), sky (blue) and mother earth (Green). EBLs brand and visual identity have recently been evolved to match the Banks ambition and confidence. The Banks corporate design of the tri-colour flow is supported by a well-defined brand personality highlighting EBLs unique characteristicsa passionate, precise, confident and agile mind. The final element in the logo design is the claim, Simple Math which demonstrates the passion that it promises. .
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Brand Value
Eastern Banks claim, Simple Math has always been much more than just a marketing slogan or an advertising strap line, it defines the way that the Bank does business. Through the consistent delivery of the promise EBL aims to live its brand promise of excellence, relevant client solutions and responsibility to all stakeholders. All in all, EBL has established itself as a valuable brand in Bangladesh symbolizing innovation, quality and trust.
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3. Product & Service of Eastern Bank Ltd.

Consumer Banking Corporate Banking SME Banking
Consumer Banking Consumer Deposit Products EBL Interesting Account:
Features Interest calculated on daily balance Interest is credited to your account every month Competitive interest rate Unlimited cash withdrawal
Eligibility Minimum Age: 18 years Citizen of Bangladesh
EBL Campus Account
Features Interest bearing deposit account Interest calculated on the basis of daily balance No hidden charges or restrictions apply with regard to interest payment
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Eligibility You need to be a student Minimum age 18 years Valid identification document (generally student ID Card) required for opening the account
EBL Confidence
Features The name of the scheme is EBL Confidence Any citizen of Bangladesh can open this account. This account can be opened in the name of an individual only. If sufficient balance (full value of installment) is not available in the corresponding account for realizing monthly installment in time, Account Holder will have to pay @ 2% on the installment arrear(s) as penalty. EBL reserved the right to change/alter/ratify the terms and conditions at any time without prior notice. Maturity Value Table Installment Amount Pre-tax Maturity after 3 Years Tk. 500 Tk. 1,000 Tk. 2,000 Tk. 20,730.68 Tk. 41,461.36 Tk. 82,922.72 Pre-tax Maturity after 5 Years Tk. 37,994.91 Tk. 75,989.82 Tk. 151,979.64
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Pre-tax Maturity after 7 Years Tk. 59,800.58 Tk. 119,601.16 Tk. 239,202.32
Pre-tax Maturity after 10 Years Tk. 100,328.37 Tk. 200,656.74 Tk. 401,313.48
Tk. 5,000
Tk. 207,306.80
Tk. 379,949.10
Tk. 598,005.80
Tk. 1,003,283.70
Tk. 10,000
Tk. 414,613.60
Tk. 759,898.20
Tk. 1,196,011.60
Tk. 2,006,567.40 Tk. 4,013,134.80
Tk. 20,000
Tk. 829,227.20
Tk. 1,519,796.40
Tk. 2,392,023.20
Table 0-1: EBL Confidence
In case of there installment, multiple of Tk. 500 & Tk. 1,000, will follow the matured value as specified in this table. For example, if installment is Tk. 2,5000 for 3 years tenor maturity value will be Tk. 20,730 X 5 times (Tk. 2,500/500) and if installment is Tk. 7,000 for 3 years tenor maturity value will be Tk 41,461 X 7 times (Tk. 7,000/1000).
Consumer Loan EBL Utshab Loan
Features Loan amount ranging from minimum BDT 50,000 to maximum BDT 150,000 (or 10 times of gross monthly income, whichever is lower) Repayment tenure of 12,24 or 36 months Absolutely no processing fees
Eligibility
Age : Minimum 22 years, Maximum 60 Years

Minimum monthly income: Salaried Executives: minimum BDT 15,000 / month
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Self-employed Professionals & Businessmen: minimum BDT 20,000 / month EBL Home Loan
Features Loan amount BDT 500,000 BDT 1 Crore or 50 times of applicants Gross Monthly Income, whichever is lower Repayment tenure 3 years to 20 years EBL Home Loan Interest Rate: 13.50% (floating) Loan Take-over facility with attractive interest rate option (1% less than existing other Home Loan but not less than 13.5% per annum) Eligibility Bangladeshi citizen within age range 22 Years 57 years Length of Service/Business: Salaried Executives: Minimum 3 year of experience with 6 month permanent employment with present employer; Contractual Employees of Supranational Organizations, international development organizations & Donor agencies e.g. WHO, FAO, UNDP, CARE etc. will be eligible subject to 1. minimum length of service 5 years 2. contract renewed at least twice Professionals: Minimum 3 year of practice in the profession
EBL Auto Loan
Features Loan amount ranges from BDT 350,000 to BDT 2,000,000 (upto 100% for brand new car and 70% for recondition car) Competitive interest rates
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Repayment tenure of 12,24,36,48 or 60 months
Eligibility Age : Minimum 22 years, Maximum 60 Years Professional Experience : o Salaried Executives: Minimum BDT 30,000/- Gross Monthly Salary o Self-employed Professional: Minimum BDT 40,000/- Total Monthly Income o Business: Minimum BDT 40,000/- Total Monthly Income
EBL Education Finance Pack
EduLoan Unsecured Education Loan without Security Deposit EMI based loan facility Maximum loan amount BDT 10,00,000 or 10 times of Gross Monthly Income of the applicant Loan amount up to 80% of the summation of admission fee, tuition fee, semester fee, other fees as stated by the educational institutions, living/lodging documents. Repayment tenor : 12 60 months Interest Rate: 18% Study in Bangladesh: Initial admission fee & initial semester/tuition fee to be remitted directly to the institutions through Pay Order.
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expenses
and
traveling
expense.
Total
expense
estimation needs to be submitted by the applicant with supporting
Study Abroad: Initial admission and initial semester/tuition to be remitted abroad through EBL Smart Student File. Payment for traveling expenses to be reimbursed through Pay Order favoring the travel agent.
EduLoan Secured - Education Loan with Security Deposit EMI based loan facility Loan amount is 95% of the security deposit (EBL FD) Processing fee 1% of the Loan amount or BDT 10,000,
whichever is higher
EBL Cards EBL VISA Platinum Card
Repayment tenor : 12 60 months No personal guarantee required Interest Rate: FD+3%
Maximum Credit Limit EBL Visa Platinum cardholders are our top priority customers with high income levels.In keeping with the needs of this segment, EBL Visa Platinum cards are offered at a maximum credit limit of BDT 500,000 or as guided by the Central Bank. Lower Interest Rate EBL Visa Platinum cardholders are the privileged ones and so is the interest rate. All your purchases are charged at 2.17% per month where a regular card is charged at 2.5% per month. This gives you to spend more with lower cost.
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Personalized Customer Service To meet the discerning needs of EBL Visa Platinum cardholders, we provide the platinum cardholders with a personalized customer service, 24 hours a day, 7 days a week. This service will provide cardholders with immediate access to account-related inquiries and other Issuer specific services. The following information may be provided: Current line of available credit Date and amount of last amount & interest Next payment due date Transaction inquiries Foreign exchange rate inquiries Change of personal information
payment Overdue charges Types of services VPCC can provide: Travel assistance
Flight and hotel information, reservations and ticketing. Car rental and limousine service Information, referrals & reservations
Sports and entertainment assistance Information, referrals, reservations for restaurants, health clubs, sporting events, golf, shopping and more. Flower and gift assistance Information and assistance with various gift baskets and floral arrangements.
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Priority Pass Airport Lounge Program Priority Pass is the largest independent airport VIP lounge program in the world, with over 600 exclusive VIP airport lounge locations around the world. To be admitted into these lounges, cardholders must present their Priority Pass membership card. Priority Pass membership cards can be used at any participating airport lounges regardless of airline of travel or class of ticket. Global Customer Assistance Service (GCAS) GCAS is a comprehensive customer services program made available to all EBL Visa Platinum cardholders when they travel overseas, either for business or leisure. With multilingual support, Visa cardholders can access GCAS from practically anywhere in the world, any time of the day, throughout the year. The following are GCAS core services available to EBL Visa Platinum cardholders. Cardholder inquiry service and exception file update are charged at US$5 per usage per service. Free First Card Cheque With EBL Visa Platinum Credit Card you can enjoy a full-fledged cheque book facility. This cheque book is useful in situations where you cannot use your Credit Card (e.g. tuition fees, rent, etc). You will get your first cheque book absolutely free. Risk Assurance Program Risk Assurance Program is a Triple Benefit Insurance Plan for the EBL Credit Cardholders. The entire dues on the Credit Card, in the event of death or permanent total disability of EBL Credit Cardholder, will be waived and the cardholder or his/her family will receive equal amount to meet immediate expenses under Risk Assurance Program. Very nominal charge will be applicable for this coverage. Cardholders can decide to cancel this program by sending a letter to us at any time. .
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Photo Card Your EBL Visa Platinum Credit Card has your photograph and signature digitally imprinted on it. This provides you extra security at any of the merchant establishments. In fact, it can be used as proof of identification, in the interest of your own security. Simple Credit Card Introducing EBL SIMPLE Credit Cards. The first of its kind, a complete Credit Card with every benefit possible, and still offering you something extra. At work or leisure, experience the convenience of a Card that does everything with style and honesty. When you become a member of EBL SIMPLE Card Services family, you become a part of an exclusive club entitled to first class financial advice, priority treatment and a growing range of courtesy services.
Figure 0-5: Simple Debit Card
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We understand the value of your money. That is why we aim to give you the highest benefit at a minimum cost. Choose the card type that matches your requirement and experience the difference. Experience EBL Credit Cards. Experience SIMPLE. Features at a glance One time Fee, Lifetime Free Owning a Credit Card is a basic right of a Qualified Financial Services Consumer and there is no strong reason to pay fee every year for that right. At EBL, we have shown respect to this concept. To avail EBL Credit Card services, you need to pay the Issuance/Joining/Subscription/ Annual Fee only once. After that there is no annual fee for you as long as you transact at least 18 times in a whole year. It is a lifetime Card. As per market standard, an average cardholder uses his/her card almost 24 times annually. So, without doing anything extra - you can have the free renewal option for the following year. Card Cheque Through EBL Credit Card you can enjoy a full-fledged cheque book facility. You can make payment (account payee only) to any person or organization of your choice. This cheque book is useful with situation where you cannot use your credit card (e.g. tuition fees, rent, etc). We are offering the FIRST CHEQUEBOOK FREE. There is a charge for subsequent Chequebooks. Worldwide Acceptance EBL Credit Card is accepted at over 5,000 VISA merchant outlets around the country and over 24 million VISA outlets worldwide. You can use this Card for a wide range of products and services such as hotels, restaurants, airline & travel agents, shopping malls and departmental stores, hospitals and diagnostic centers, jewelers,
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electronics & computer shops, leather goods and shoe stores, mobile phone and internet service providers, fuel station and what not! . Shopper's Guide EBL Credit Card provides you a list of shops and outlets where using the card will entitle you to receive certain discount. We have chosen a large number of shops and retail outlets for the purpose. The printed guide comes with every details (i.e. shop name, address, discount value etc.) thus making your life easier. Easy Installment Program Easy Installment Program of EBL Credit Card allows the cardholder to convert any retail transaction into an easy installment plan. You can purchase any high value product or service and make payments in equal monthly installments (EMIs). The program will be available shortly and we will notify you as soon as our network partners increase. Photocard with Signature Your EBL Credit Card has your photograph and signature digitally imprinted on the Card. This provides you extra security at any of the merchant establishments. In fact, it can be used as a proof of identification, in the interest of your own security. Global Emergency Assistance Service When you travel abroad, please remember that you have the option of using the Global Emergency Assistance Services provided by VISA for our cardholders. These can be availed for: 1. Reporting lost/stolen credit cards, 2. Requesting for an emergency card replacement, 3. Emergency cash advance 4. Miscellaneous enquiries.
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EBL Mobile Alert EBL Mobile Alert is a very simple, powerful and convenient way to know your Credit Card statement details instantly without any postal delays. You would now no longer miss a payment or exhaust your credit limit without a warning. Once your statement is generated, we will notify you about the balance status with payment information. Life has never been so easier.
LifeStyle Card
Features A global branded VISA prepaid card Reloadable Round the clock access to large ATM network (over 85 Q-cash & VISA ATMs Eligibility Minimum age: 18 years
EBL Travel Card
1. What is it? EBL Travel Card is a prepaid Visa card available over the counter to both EBL and non-EBL customers. It has been specially designed to give you more convenient access to your own money in the USD while you're traveling. Purchase an EBL Travel Card and you can have your foreign exchange ready to use anywhere outside Bangladesh, you will no longer need to worry about running after money exchange houses while you are abroad. It's a Visa Card, which means it is accepted at over 24 million locations worldwide including shops, car rental companies, travel agents and ATMs.
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2. How do I use it? You can use your EBL Travel Card to withdraw cash from ATMs or make purchases wherever Visa is accepted electronically. When you make a purchase with your EBL Travel Card, you are not charged a transaction fee: 1. The merchant will put the card through the merchant terminal 2. Upon authorization a charge slip will be printed 3. The merchant will then request your signature for authorization 4. The merchant will give you a copy of the charge slip as proof of transaction When you withdraw local cash from an ATM (outside Bangladesh), a fee ($2.00 or 1% of the withdrawal amount, whichever is higher) applies: 3. What are the benefits of the EBL Travel Card? It's prepaid load a maximum of $ 3,000 for Non-SAARC countries and $ 1,000 for SAARC countries & Myanmar. The amount is determined by Bangladesh Bank for a calendar year. World Wide ATM access to withdraw cash (75% of the loaded amount) in local currency through any Visa-enabled ATM. No transaction fee for purchases
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Accepted electronically at over 24 million locations worldwide Privilege of a backup card to be safe against lost or theft of your primary card 24-hour access to your balance and transaction history through EBL Cards Center (+88 044 7670 1031-34)
4. How secure is my money? No money is stored on your card, nor is it linked to your bank account. This means better protection of your money if your card is ever lost or stolen. You can also take a backup card, which has a separate PIN from your primary card. That way, if one of them is lost or stolen, you still have access to your money. 5. What is the backup card for? When you purchase an EBL Travel Card, you will get two cards: a primary card and a backup card for added security. If you lose your primary card while you're overseas, you can still access your money with your backup card which has a different PIN. You must not provide either your primary or backup card to any other person for their use. 6.How much does it cost? Issuance Fee Annual Fee Renewal Fee Initial Load Fee ATM Cash Withdrawal Fee amount (in USD) whichever is higher 7. How much money should I load onto the card? Free BDT 500.00 BDT 500.00 Free USD 2.00 or 1% of the withdrawal
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How much money you will need depends on how long you will be staying overseas and what your expenditure will be. For example, Mr. Choudhury is traveling to Paris for 2 weeks. He purchases an EBL Travel Card and loads $ 2,800 onto the card for his trip. His accommodation is $100 per night and he has budgeted $100 spending money per day plus some emergency money.
Corporate Banking
EBL Corporate Banking provides financial products & services reaching the countrys growing corporate base. With our expertise and dedication we, at EBL Corporate Banking, aim to provide the best possible services to our customers and with that in mind, we have proved ourselves to be one of the leading bank in helping clients to achieve success in every business endeavor they have. Our expertise covers areas like Project financing, Trade Financing, Working Capital Financing, etc. Divided into 2 (two) Corporate Banking wings, one in Dhaka and the other in Chittagong, is an integrated & specialized area of the bank, which meets the diverse financial needs of the corporate customers by designing customized and structured solutions for their business.
Business Relationship Units (BRUs)
To facilitate the services to our ever-growing list of corporate clients, we have in place, a number of corporate relationship units in Dhaka and Chittagong. We also have 2 different corporate offices in Dhaka area, considering the ease of reach that we always want to provide our valued clients. The Relationship managers, equipped with efficient management skill and sound knowledge about the industry, are here to provide a full array of corporate banking solutions, ranging from working capital management, cash management, foreign exchange and currency hedging services to trade finance, loans and structured products. They also partner with our Structure Finance Unit & investment banking Units to deliver the large project financing and investment banking capabilities to our relationship clients.
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Customer Support Unit (CSU)
Customer Support Unit assists all relationship teams to analyze and assess financing proposals. Customer Support Unit (CSU) - provides transactional support to corporate customers and works on developing new products. This unit assists Relationship Units in providing day-to-day services/information required by the customers and also monitors the account performance and status.
Structured Finance Unit (SFU)
Our Structured Finance unit is the most active structured finance solution provider in the country covering both offshore and onshore solutions. It has come a long way since it started its journey in 2003 and now, one of the best in the market for product structuring, syndication arrangement, trustee services and agency functions.
Project Finance Unit
Project Finance Unit (PFU) is a specialized unit comprising of experienced professionals who are expert in conducting the Technical & Financial Feasibility of all types of projects. This unit extends its assistance to all the business units of EBL around the country. PFU does vetting of project risks by appraising financial feasibility and viability of the customers projects during the pre-booking stage and also monitors the progress of the project implementation during the post-booking stage. People working in this unit are the very best with experience in the following industries:
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Battery Beverage Bicycle Tyre & Tubes Ceramics Footwear Glass & Tubes Home Textiles Power Melamine Basic Chemical Ship-Breaking Particle Board Paper
4.1.1. International Division In order to facilitate your Foreign Exchange (FX), Foreign Trade and Other Foreign Currency (FCY) Business and Transactions, we maintain Correspondent Banking Relationship with number of banks at home and abroad. Standard Settlement Instructions (SSI) including Drawing and Telegraphic Transfer (TT) arrangements have been established in all major currencies. Business lines have been established with International Finance Corporation (IFC) and Asian Development Bank (ADB), along with other Global Correspondents.
Cash Management Unit
Companies today find themselves in an increasingly competitive local, regional and global marketplace. Businesses have to focus on staying profitable while managing heightened credit risk and narrowing margins. Keeping in view the challenges of our business environment, EBL has developed a range of Cash Management products and solutions that accelerate inflows, maximize liquidity, reduce credit risks, automate payments and strengthen reconciliation. At EBL our products and services are value added and offer end to end solutions that optimize cash flows and reduce operating costs.
Investment Banking Unit (IBU)
EBL Investment Banking Unit, within a very short span of time, has been active in doing the followings: Managing own portfolio Participation in Pre-IPO Placements Participation in Book-Building Process
SME Banking EBL Agrim
Features Any legal business purpose, loan facility minimum BDT 200,000 maximum BDT 950,000 4.1.2. .EBL Asha Features Any business purpose loan from Tk. 200,000 to Tk. 990,000 No collateral security required Loan tenure 1 month to 6 months
To be repaid within maximum 24 months (Next loan is repayable within 60 months)
No requirement for collateral security Loan repayable in equal monthly installment
EBL Puji Features Any business purpose loan from Tk. 500,000 to Tk. 5,000,000 To be repaid within maximum 36 months (Next loan is repayable within 60 months) Collateral security required along with charge on business assets
5.
Marketing Strategies taken by Eastern Bank Ltd. to market- Its Product & Services
Smart companies which research on realization of customer satisfaction study the buying process thoroughly. They study when the customers first realize the need of purchasing their product, why they have chosen their brand and how satisfied they are after purchase. According to this model a consumer passes through five stages in the buying process which is shown in below:
Figure 3-6: Five-Stage Model of the Consumer Buying Process
5.1.Marketing Strategies taken by Eastern Bank Ltd. to market

Problem Recognition
The buying process starts when the buyer recognizes a need or problem. The need can be triggered by internal or external stimuli. In the former case, one of the persons normal need hunger rises to a threshold level and becomes a drive. In the later case, a need is aroused by an external stimulus. A person passes a bakery and sees freshly baked bread that stimulates her hunger. (Kotler, 2000). [11]
Information Search
An aroused consumer will be inclined to search for more information. Consumer information sources fall into the following groups: Personal Sources: Family, friends, neighbors and acquaintances Commercial Sources: Advertising, Salesperson etc. Public Sources: Mass media Experimental Sources: Handling, examining, using the product.
Evaluation of Alternatives
Some basic concepts help the marketers to understand consumer evaluation process: First, the consumer is trying to satisfy a need. Second, the consumer gathers information from different consumer domains to learn about the competing brands and their features. Third, the consumer will pay the most attention to the brand that will give him sought benefits.
Purchase Decision
The consumer may decide to purchase a particular brand. But two factors can intervene between purchase decision and purchase intention: The first factor is attitudes of others, e.g.. a customers preference for a brand will increase if someone he respects favours the same brand strongly. The second factor is unanticipated situational factors that may interrupt a customers purchase intentions.
Post Purchase Behavior
After purchasing the product, the consumer will experience some level of satisfaction or dissatisfaction. Now a question arises what determines whether the buyer will be highly satisfied, somewhat satisfied, or dissatisfied with a purchase? The buyers satisfaction is a function of the closeness between the buyers expectations and satisfaction. If the performance falls short of expectations, the consumer is disappointed; if it meets expectations, the consumer is satisfied; if it exceeds expectations, the consumer is delighted.
Market
In an article Market Definition: A Strategic Task, we identify eight strategic questions that define the boundaries and dimensions of a market, and a method for answering them based on the marketing concept of making what people want to buy. These questions are answered, either implicitly or explicitly, as firms go about their day to day business.
Defining ones market requires clear and specific answers to some questions. The geographic area, time frame, prospects, and broad price range need specific answers, while the remaining questions require only partial answers. The product offering, price, communication media, distribution channels, and the implicated competition are only partially answered when a firm defines its market. Regarding what to offer, the definition of ones market identifies a product category, not the attributes and benefits of a specific offering.
Figure 3-7: Market Segment Analysis Market Segmentation Analysis
The purpose of market segmentation analysis is to understand where prospects are coming from. People engage in observed behaviors for many different reasons. They go swimming, walk the dog, take their car in for repair, and hire marketing research consultants for reasons that range from solving immediate problems to relishing some aspects of the activity itself. By developing their understanding of the DCCs that lead to action, marketers guide product formulation and meaningfully participate in the tasks and interests of prospects.
Geographic Segmentation
Market Segmentation Strategy whereby the intended audience for a given product is divided according to geographic units, such as nations, states, regions, counties, cities, or neighborhoods. Marketers will tailor marketing programs to fit the needs of individual geographic areas, localizing the products, advertising, and sales effort to geographic differences in needs and wants. Marketers will also study the population density or regional climate as factors of geographic segmentation.
Demographic Segmentation
Market Segmentation Strategy whereby the intended audience for a given product is divided into categories based on demographic variables (demographics). Demographic segmentation is the most popular basis for dividing groups, primarily because consumer usage and wants or needs usually match demographic categories, but also because demographic variables are easy to measure and obtain. Age and life cycle segmentation is a form of demographic segmentation
Psycho graphic Segmentation
Market Segmentation Strategy whereby the intended audience for a given product is divided according to social class, lifestyle, or personality characteristics. Marketers segment markets by social class for the promotion of products such as cars, clothes, home furnishings, and leisure activities. When segmenting a market according to consumer lifestyles, marketers promote their products as expressions of those lifestyles, such as the promotion of natural fiber products as ideal for a natural, healthy, active life. Marketers use personality factors to segment markets by giving their products personalities that match consumer personalities. Typically this strategy is used to promote products such as women's cosmetics or liquor.
Marketing
A social and managerial process by which individuals and groups obtain that the need and want through creating and exchanging products and value of others.
Figure 3-8: Core Marketing Concept Brand Positioning
The strategic task of brand positioning refers to managements selecting as its market targets (1) a subset of conditions (DCCs) to address with a responsive offering and (2) the individuals who experience such conditions. In contrast to studying where people are coming from, which is the purpose of market segmentation analysis, the purpose of brand positioning is to influence the brands prospects choose in the marketplace. Broadly speaking, product strategy has to do with designing a brand so that it can claim and deliver getting enough prospects to where they want to be to provide management with a satisfactory ROI. As a strategic task, brand positioning is based on managements conducting an iterative evaluation of the inroads that an offering can achieve by designing it to respond to some region of the diverse kinds of demand as found. For each segment of demand, management reviews the current state of want satisfaction provided by existing offerings, with a view to assessing its ability profitably to improve on what is currently available.
Want
The form taken by human needs as they are shaped by culture and individual personality.
Demand
When the human wants that are backed by buying power then it is called demand.
Product
Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need is termed as product. It includes physical objects, services, persons, places, organization and ideas.
Service
A type of economic activity that is intangible, is not stored and does not result in ownership. A service is consumed at the point of sale. Services are one of the two key components of economics, the other being goods. Examples of services include the transfer of goods, such as the postal service delivering mail, and the use of expertise or experience, such as a person visiting a doctor.
Customer Relationship Management
Customer Relationship Management (CRM) consists of the processes a company uses to track and organize its contacts with its current and prospective customers. CRM software is used to support these processes; information about customers and customer interactions can be entered, stored and accessed by employees in different company departments. Typical CRM goals are to improve services provided to customers, and to use customer contact information for targeted marketing. [15] Other problems occur when failing to think of sales as the output of a process that it needs to be studied and taken into account when planning automation.
Figure 3-9: Customer Relationship Management Types/Variations of CRM
There are several different approaches to CRM, with different software packages focusing on different aspects. In general, Customer Service, Campaign Management and Sales Force Automation form the core of the system with SFA being the most popular.
Operational CRM
Operational CRM provides support to "front office" business processes, e.g. to sales, marketing and service staff. Interactions with customers are generally stored in customers' contact histories, and staff can retrieve customer information as necessary. Operational CRM processes customer data for a variety of purposes: Managing campaigns Enterprise Marketing Automation Sales Force Automation
Sales Management System
Analytical CRM
Analytical CRM analyzes customer data for a variety of purposes: Designing and executing targeted marketing campaigns Designing and executing campaigns, e.g. customer acquisition, cross-selling, upselling Analysing customer behavior in order to make decisions relating to products and services (e.g. pricing, product development)
Sales Intelligence CRM
Sales Intelligence CRM is similar to Analytical CRM, but is intended as a more direct sales tool. Features include alerts sent to sales staff regarding: Cross-selling/Up-selling/Switch-selling opportunities Customer drift Sales performance Customer trends Customer margins
Consumer Relationship CRM
Consumer Relationship System (CRS) covers aspects of a company's dealing with customers handled by the Consumer Affairs and Customer Relations contact centers within a company. Representatives handle in-bound contact from anonymous consumers and customers. Early warnings can be issued regarding product issues (e.g. item recalls) and current consumer sentiment can be tracked (voice of the customer).
Public Relation Advertising
Public relation is an umbrella process much like marketing responsible for managing the firms relationships with its various publics. Public relations are concerned with employees, stockholders, vendors and suppliers, government regulators, and the press. These activities include publicity, press agency, sponsorships, special events, and a special kind of advertising called public relationship advertising.
Target Market
A target market is the relevant market or the portion of the relevant market that a firm is most interested in serving. The target market might be defined in terms of the demand for a generic need, a product class, a specific product form, or a target customer segment for one of those markets.
Target Audience
A set of buyers sharing common needs or characteristic that the company decides to serve is called target market. Likewise, advertising is aimed at a particular group called the target audience.
5.1. Marketing Strategies taken by Eastern Bank Ltd. To market- In Terms of its Product
EBL Secure DPS EBL Junior EBL Jibondhara Loan EBL Mukti- SME Banking
Another major Marketing Strategy of EBL is to produce & provide new product frequently to attract customer to serve as per target people in the banking market. EBL VISA Signature Card
EBL Secure DPS
MATURITY VALUE EBL Secure Deposit Protection Scheme is a monthly savings scheme which is an unique one and gives the opportunity of saving money for the future as well as assures that in case of sudden demise of the depositor his/her family gets the much needed financial support. EBL Secure DPS is such a product that ensures both savings and security for a depositor. Information that we should know The name of the scheme is "EBL Secure Deposit Protection Scheme". EBL Secure DPS is a monthly recurring savings scheme with full maturity value insured in case of death of the depositor due to any cause (excluding Pre-existing conditions/disability, Suicide, AIDS, assault or murder, war or warlike situation etc. details of which is available in the master group insurance policy). Any citizen of Bangladesh aged 18-55 years can open this account.
Maturity Value Table Monthly Deposit Amount Pre-tax Maturity Value at the end of 5 Years (60 Monthly Installments) 500 1,000 36,973 73,946 7,000 7,500 517,623 554,596 Monthly Deposit Amount Pre-tax Maturity Value at the end of 5 Years (60 Monthly Installments)
1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500
110,919 147,892 184,865 221,838 258,811 295,784 332,757 369,730 406,703 443,677 480,650
8,000 8,500 9,000 9,500 10,000 10,500 11,000 11,500 12,000 12,500 13,000
591,569 628,542 665,515 702,488 739,461 776,434 813,407 850,380 887,354 924,327 961,300
Table 0-2: EBL Secure DPS
EBL Junior
SAVINGS ACCOUNT FOR STUDENTS! What is the account? It is a Joint Account for Children and his/her Parents. What's in it for you? Now you can help your children save and spend their money judiciously. With EBL Junior Savings Account, you can even directly deposit the pocket money into your childs account! The best part of it is you can still maintain complete control over the account while your child enjoys the benefits of banking. Simple isnt it! Moreover, this growing fund can be used for higher education, marriage or meeting any special needs of your children.
Features Higher Interest Rate - 6% per annum, paid semi-annually Interest on Daily Balance Cheque book facility for Parents Debit Card facility with monthly fixed limit for limited withdrawal Free ATM Cash withdrawal at all EBL ATMs
Eligibility & Requirements Children aged between 11-17 years can apply Children cannot open the Account with anyone other than his/her Parents Minimum Balance for Interest Accrual BDT 5000 A Copy of Birth Certificate/Passport/Certification of Age from School along with original has to be produced at the time of opening the account.
EBL Jibandhara Loan
Features Loan Amount ranges from BDT 50,000 to BDT 1,000,000 ( or 12 times of gross salary, whichever is lower). Repayment tenure of 12, 24, 36, 48 or 60 months. Payment option available starting after minimum 6 months of disbursement of loan. Early full and final settlement allowed. Interest rate for Jibandhara is a competitive 19.50% per annum.
Eligibility
Age : Minimum 22 years, Maximum 60 Years Minimum monthly income: Salaried Executives : minimum BDT 20,000 / month BDT 15,000 / month for Government Employees Self employed Professionals: minimum BDT 30,000 / month
EBL Mukti
Features Credit facility up to BDT 300,000 (three lac) in any legitimate business No requirement of land/building mortgage Yearly interest rate is 10%, which is the lowest in the country Repayable in 18 months Facility is only for Women Entrepreneurs
Eligibility Any legitimate business with at least two years of operation Business Cash Flow to support repayment
EBL VISA Signature Card
MORE PEOPLE AROUND THE WORLD GO WITH VISA
Figure 0-10: EBL VISA Signature Card
Maximum Credit Limit EBL Visa Signature cardholders are our top priority customers with high income levels, it is imperative that the credit limit supports the premium positioning of EBL Visa Signature by providing maximum purchasing power to these cardholders. EBL Visa Signature cards are offered at a maximum credit limit of BDT 500,000 or as guided by the Central Bank. This maximum credit limit may be converted into USD or local currency using the market exchange rate. Lower Interest Rate EBL Visa Signature cardholders are the privileged ones and so is the interest rate. All your purchases are charged at 2% per month where a regular card is charged at 2.5% per month. This gives you to spend more with lower cost. Complimentary Access to Balaka Lounge Just show your EBL Visa Signature Card at Balaka Lounge at Hazarat Shahjalal International Airport and get complimentary usage facility 24x7. Make your waiting time at airport a pleasant one with EBL Visa Signature. You can take up to 3 guests along with you. Free Access to 600 Airport Lounges in 100 Countries Priority Pass is the largest independent airport VIP lounge program in the world. BDT 1 Crore Travel Accident Insurance EBL Visa Signature cardholders are automatically entitled for a coverage of BDT 10,000,000 for Travel Accident Insurance. We provide this travel accident insurance feature as part of the EBL Visa Signature product offering.
Lost Luggage Assistance
When the cardholders luggage is lost while traveling, tracking advice and/or shipment of replacement items can be arranged. Emergency Medical Assistance This is a referral service that provides cardholder with contact details of physicians, hospitals, clinics, dentists and dental clinics. Free First Card Cheque With EBL Visa Signature Credit Card you can enjoy a full-fledged cheque book facility. You can make payment (account payee only) to any person or organization of your choice. This cheque book is useful in situations where you cannot use your Credit Card (e.g. tuition fees, rent, etc). You will get your first cheque book absolutely free. E-Statement Service EBL Visa Signature Cardholders can receive monthly statements via e-mail, completely free of cost. This is a fast, reliable and efficient service, which will minimize your paperwork and maximize your convenience. Your e-statements can be delivered to more than one e-mail address (up to a maximum of two e-mail addresses). All you need to do is just fill up the form and we will do the rest. Transaction Alert EBL Transaction Alert Service is a very simple, powerful and convenient way to know your Credit Card statement details instantly without any postal delays. As soon as you become an EBL Credit Cardholder, you automatically join in the EBL Transaction Alert service and get faster, reliable access to your Monthly Statements and all transactions in your Card. Photo Card Your EBL Visa Signature Credit Card has your photograph and signature digitally imprinted on it. This provides you extra security at any of the merchant establishments. In fact, it can be used as proof of identification, in the interest of your own security.
5.2. Marketing Strategies taken by Eastern Bank Ltd. To market- In Terms of its Service
Prompt Service- Customer Service
Contact Center Introduction
A contact centre is a facility used by companies to manage all client contact through a variety of mediums such as telephone, fax, letter, e-mail and increasingly, online live chat. Distinct from call centres, that purely handle telephone correspondence, contact centres have a variety of roles that combine to provide an all-encompassing solution to client, and customer contact. Contact centres, along with call centres and communication centres all fall under a larger umbrella labelled as the contact centre management industry. This is becoming a rapidly growing recruitment sector in itself, as the capabilities of contact centres expand and thus require ever more complex systems and highly skilled operational and management staff.(34) The majority of large companies use contact centres as a means of managing their customer interaction. These centres can be operated in two major ways, the first, by having an in house department responsible for the day to day communications with customers, the second to outsource customer interaction to a third party agency.
Figure 5-11: EBL Contact Centre Work Flow Services
Contact centres can also offer a number of different services. One of the most popular is the support or help desk, which regularly answers technical questions from customers and assists them using their equipment or software. Frequently, support desks are used by companies in the computing, telecommunications and consumer electronics industries. Equally important are the customer service contact centres that answer specific queries relating to customer issues, in the banking and utility sectors these are frequently used to answer customer questions relating to their account or payments, this type of service may even be used to respond to customer complaints and undertake retention strategies for dissatisfied customers. Finally there are contact centres that carry out sales and marketing activities; these can be performed through cold calling strategies and increasingly through live chat applications on company websites.
Figure 5-12: Benefits of improving indicators Benefits
The key customer benefits of the call centers include: Convenient customer access to the services required A positive experience from operators skilled in providing telephone services Accurate and appropriate responses High level of customer satisfaction Improved efficiency Monitor performance
Figure 5-13: Focus on number of solved problems
Figure 5-14: Help Desk Performance
In the support scenario or visitors having difficulty with a web site scenario, the callers can often become frustrated, irate and abusive whilst also becoming disillusioned with the company/service. With the ability to handle multiple chats, the wait time can be reduced therefore improving the customer experience/ liaison. Operators generate new ideas for the clients, design/suggest campaigns for them based on the new functionality that can be offered to them.
EBL Contact Center (Phone Banking) Service
EBL Phone Banking or Contact Centre is a service provided by their Alternative Delivery Channel Division of Eastern Bank Limited, which allows its customers to perform transactions and quarries over the telephone. Most telephone banking services use an automated phone answering system with phone keypad response or voice recognition capability. To guarantee security, the customer must first authenticate through a numeric or verbal password or through security questions asked by a live representative.
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TERMS & CONDITIONS
The following terms and conditions will govern the Contact Center Service (hereinafter referred to as
the Services) of the Eastern Bank Limited in Bangladesh (hereinafter referred to as the Bank). 1. The Service provided by the Bank covers: Cards Services: i) enquiry on card account available balances, last transactions (in relation to the card holders card account) etc. ii) request for statement, contact detail update, card and card cheque activation in relation to the card holders card account; and iii) such other types of card services as the Bank may from time to time introduce. Banking Services: iv) enquiry on account balances, loan queries, last transactions (in relation to the account holders accounts), exchange rates etc. v) vi) transfer of funds between any of the accounts of the account holder. request for statement, bill payment, cheque book and stop cheque in relation to the account holders account; and vii) such other types of banking or investment services as the Bank may from time to time introduce. 2. The account holder undertakes to keep the TPIN and all other information relating to this strictly confidential at all times and shall ensure that the same is not disclosed to any person voluntarily, accidentally, by mistake or any other reason whatsoever and shall report to the Bank immediately on the Banks customer service number. If he/she misplaces the TPIN or becomes aware that the TPIN or any other information has fallen into any unauthorized person. The Bank does not assume any responsibility in this regard on behalf of the account holder.
3. The Bank shall provide the Services to the account holder at the sole risk and responsibility of the account holder. The Bank shall not be liable to the account holder for any failure to carry out any telephone instructions for any reason whatsoever including but not limited to such reasons which are attributable, wholly or in part, to any cause beyond the Banks control such as any equipment malfunction or failure and under no circumstances whatsoever shall the Bank be responsible to the account holder for any direct, indirect or consequential losses arising out of or in connection with the carrying out of such telephone instructions, and the Bank shall at all times be indemnified and kept harmless from all actions, proceedings, claims, losses, damages, costs and expenses which shall have arisen either directly or indirectly out of or in connection with the Banks accepting telephone instructions and acting or failing to act thereon. 4. The account holders right to give telephone instructions pursuant to the terms and conditions herein shall at all times be subject to the discretion of the Bank and the Bank may, without any obligation or liability, at any time revoke such right without prior notice. 5. The Bank states that it has no liability or obligation to keep a record of the instructions to provide information to the account holder or for verifying the account holder's instructions. 6. If the account holder notices an error in the information supplied to the Bank either in the application form or any other communication, he/she shall immediately advice the Bank and the Bank will endeavor to correct the error wherever possible on a reasonable efforts basis. 7. The Bank has no liability if it does not or is unable to stop or prevent the implementation of the initial instruction subsequently revoked by the account holder. Where the Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the account holder before acting on any instruction of the account holder or act upon any such instruction as it thinks fit.
8. The grant of the Services to an account holder is not transferable under any circumstance and shall be used only by the account holder. 9. The Services would operate during timings specified by the Bank from time to time and transactions would be carried out on the same day or on the next working day depending upon the time of logging of the transaction. 10. The account holder, his heirs, legal representatives, executors, administrators and successors are bound by the terms and conditions stated herein.
5.11. Channel of Advertising There are mainly two basic Channel of Advertising. They are: 5.11.1.ATL: Atl means above the line. It is basically core advertising. like Tvc: Television Ad is more effective channel than others. In this mode the message can be conveyed attractively. Bill board: It express the verbal msg through a written format in a big board.
Paper Add: Paper is also a great media to mass people. Rdc: It is more effective in rural area. But now-a-days we have a habit to listen radio while moving around by the car.
5.11.2.BTL: Its new concept of advertising across the world.Btl means bellow the line, its shows one to one communication, direct reach to consumar,product demonstration/experience, conducting events etc.
6. Drawback of Their Strategic Operation Regarding Market

The main factor that affects most Banks is the degree of competition how fiercely other businesses compete with the products that another business makes. The other factors that can affect the business are: Social how consumers, households and communities behave and their beliefs. For instance, changes in attitude towards health, or a greater number of pensioners in a population. Legal the way in which legislation in society affects the business. E.g. changes in employment laws on working hours. Economic how the economy affects a business in terms of taxation, government spending, general demand, interest rates, exchange rates and global economic factors.
Political how changes in government policy might affect the business e.g. a decision to subsidize building new houses in an area could be good for a local brick works.
Technological how the rapid pace of change in production processes and product innovation affect a business.
Ethical what is regarded as morally right or wrong for a business to do. For instance should it trade with countries which have a poor record on human rights.
6.1.
The Key Drawbacks of Their Strategic Operation Regarding Market
Upcoming Banks
The upcoming private local & multinational banks posses a serious threat to the existing banking network of Eastern Bank: it is expected that in the next few years more commercial banks will emerge. If that happens the intensity of competition will rise further and banks will have to develop strategies to compete against and win the battle of banks.
Similar Products Are Offered by Other Banks
Different foreign and private banks are offering similar type of product with an almost similar profit margin. So, if all competitors fight with the same weapon, the natural result is declining profit.
Limited ATM Facility
As Eastern Bank has a very low amount of ATM machine so the customer have to face problem to withdraw and deposit money in the banking hour and non-banking hour. As there are lots of private Bank in Bangladesh have wide network of ATM booth and POS network like Prime Bank limited and Dutch Bangla Bank Limited. So this growing banks a the major threat for the EBL. So they have to very careful and their withdrawal and deposit facility.
Real Time Banking
In the whole world real time banking is a common phenomenon. There is core banking system, internet Banking, Branchless banking, Mobile Banking etc. But EBL only have
the internet Banking but they dont have other facilities like other bank. So it will be also a threat for EBL not having wide range of Real Time Banking.
Narrow Operating Span
Eastern Bank has a very narrow operating span in respect to the other leading private bank of Bangladesh.The Branch od EBL dont cover the 65 district. So the customer reach is limited to the urban area and the capital places only. Various geographic segments are currently not availing the services of Eastern Bank due to inconvenient branch location or absence of neighborhood branches.
Absence of Strong Marketing Activities
Though EBL have wide range of product they don0t have any strong marketing activities through mass media e.g. Television. TV ads play a vital role in awareness building. Eastern Bank has no such TV ad, universities premises campaign and etc.
More Innovative Products Must Be Offered
In order to be more competitive in the market Eastern Bank should come up with more new attractive products. This one of the weakness that Eastern Bank is currently passing through.
7. Conclusion
Findings
Eastern Bank Limited was formed on August 08, 1992 and commenced its business as a scheduled bank with effect from August 16, 1992. EBL started its operation with one Head Office, two branches at Dhaka and one branch at Chittagong. Its shares are listed with Dhaka and Chittagong Stock Exchange(s) Limited and are being quoted in the market regularly. One of the objectives behind creation of this new Bank was to give effect to the Bank of Credit & Commerce International (Overseas) Limited in Bangladesh (Reconstruction) Scheme, 1992 framed by the Bangladesh Bank under Section 77(4) of the Bank Company Act. Under the Scheme, the entire business, assets and liabilities of the
branches of erstwhile BCCI in Bangladesh, as these stood after reduction or adjustment in accordance with the provisions of the Scheme, were vested in the Bank. They have strong presence in the Dhaka Stock Exchange (DSE) & Chittagong Stock Exchange (CSE) in January 2009. Eastern Bank Limited (EBL) is one of the modern, fully online and technologically superior private commercial Banks in Bangladesh. Eastern Bank markets a wide range of Personal, Corporate, SME, International Trade, Foreign Exchange, Lease Finance and Capital Market services through a network of 47 Branches, 6 Kiosks & 76 ATMs countrywide. Eastern Bank has its presence in 10 major cities/towns in the country including Dhaka, Chittagong, Sylhet, Khulna, Rajshahi & Coxs Bazar. Tracing its origin back to 1992, EBL is serving the individual and corporate clientele alike with remarkable success offering innovative banking services since then. As Bangladesh has 16 Crore people and the 80% people lives in the rural places they are still unbanked. But the entire private bank ware unable to reach the door steps of the rural people as huge transaction happens in those area. Because our daily consumable item, fish, agriculture, flower, vegetable, fruits are used to come from the village market so every day a lot of transection happens there. Also most of the beneficiaries of the remittance are from the rural area. So the private bank can go there easily and provide their service to the majority part of the people. With the tie up with Banglalink EBL is providing the mobile remittance so the people can easily collect their money through any Banglalink Cash point throughout the country. At last EBL has establish a strong infrastructure to provide support their existing clients by their world class Contact Center which is 24X7X365 open if customer have some problem regarding their transection.
Recommendation
In our country there are very few Bank which have these kind of variation product and services. So it is highly required and opportunity to spread those entire product to the each and every corner of the country with strong rural communication. Two issue EBL should focus on:
1. Increase the ATM network so that customer can reach the benefit of withdrawal and deposit facility. 2. Increase the branch or introduce the branchless banking to their customer. 3. Extensive marketing & public communication is required. 4. To create public awareness about their services simple math. From its inauguration EBL have passed 19 years in these shot span of time EBL reaches a top category banking services provider in the country that why Eastern Bank Ltd. has been recognized as a Superbrand for the period 2009-2011. Superbrand is an independent international organization that recognizes top brands worldwide on a global standard. EBL believe that each of our customers and stakeholders has been instrumental in achieving the feat and we sincerely thank you for the support you have given to us to date. We are sure, this outstanding relationship of trust and commitment will continue between us in the coming days, too. EBL brand has been recognized by customers for offering products and services that genuinely meet their needs. Founded on offering innovative financial products at great prices, over the years, the EBL brand name has become synonymous with quality, value, service, innovation and trust. These values are the bedrock of the EBL value proposition.
References
1. http://www.ebl.com.bd/ 2. http://www.ebl.com.bd/ebl-vision.php 3. http://www.ebl.com.bd/Board-of-Directors.php 4. http://www.ebl.com.bd/EBL-Management.php 5. http://www.ebl.com.bd/Achievements.php 6. http://www.ebl.com.bd/Milestones.php 7. http://www.ebl.com.bd/EBL-Brand-Communication.php 8. http://en.wikipedia.org/wiki/Corporate_finance 9. Principles Of Marketing by Philip Kotler & Gary Armstrong. 10. http://en.wikipedia.org/wiki/Market 11. http://en.wikipedia.org/wiki/Customer_relationship_management. 12. http://www.ebl.com.bd/Consumer-Deposit.php 13. http://www.ebl.com.bd/EBL-Interesting-Account.php 14. http://www.ebl.com.bd/EBL-Campus-Account.php 15. http://www.ebl.com.bd/EBL-Confidence.php 16. http://www.ebl.com.bd/ebl-consumer-loan.php 17. http://www.ebl.com.bd/EBL-Jibandhara-Loan.php 18. http://www.ebl.com.bd/EBL-Cards.php 19. http://www.ebl.com.bd/visasignature/ 20. http://www.ebl.com.bd/EBL-Credit-Card.php 21. http://www.ebl.com.bd/EBL-LifeStyle-Card.php 22. http://www.ebl.com.bd/EBL-Corporate-Banking.php
23. http://www.ebl.com.bd/SME-Products.php 24. http://en.wikipedia.org/wiki/Contact_centre_(business) 25.http://www.ebl.com.bd/download/Contact_Centre_Phone_Banking_Terms_ %20Conditions.pdf .
Books: Corporate Finance by Stephen A. Ross, (Author), Randolph W. Westerfield (Author), Jeffrey Jaffe (Author) Business and Administrative Communication by Kitty Locker and Donna Kienzler (Oct 19, 2009) Audit Report of 2010, Eastern Bank Limited.

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Marketing Strategies of Financial Services and Its Operational Drawbacks: A Study on Eastern Bank

Washim Palash Internship Supervisor Dept. of Business Studies

Master of Business Administration

Date of Submission: 25/08/2011

School Of Business Social Studies

State University Of Bangladesh

Sadia Naushin Student ID # PG:02-22-09-011 Faculty Master of Business Administration

She was punctual and dedicated to her duties in our observation.

We wish every success in her life.

Utsav Lahiri In Charge, Priority and Corporate Manager.

1.4 Scope of Study 1.5 Methodologies

1.5.1 Primary Source of Information 1.6 Limitation 04

1.5.2 Secondary Source of Information 04

2. Financial Services- Its Definition & Types:

Definition..06 Types of Financial Market as well as Financial Services.06

III. Mutual Fund IV. Banking V. Specialized Banks Types08

1.2 Background of the Report

Figure 1-1: Objectives

Figure 1-2: Methodology

Figure 1-3: Report Limitation

2. Financial Services- Its Definition & Types:

Participants of the Capital Market

Types- Most common types of Financial Services are:

3. Brief Profile of Eastern Bank Ltd.

Figure 2-4: EBL Official Logo

EBL launched first ever Bank- sponsored Mutual Fund in Bangladesh.

Board of the Director

3. Product & Service of Eastern Bank Ltd.

Consumer Banking Consumer Deposit Products EBL Interesting Account:

Eligibility Minimum Age: 18 years Citizen of Bangladesh

EBL Campus Account

Tk. 2,006,567.40 Tk. 4,013,134.80

Table 0-1: EBL Confidence

Consumer Loan EBL Utshab Loan

Age : Minimum 22 years, Maximum 60 Years

EBL Auto Loan

Repayment tenure of 12,24,36,48 or 60 months

estimation needs to be submitted by the applicant with supporting

Repayment tenor : 12 60 months No personal guarantee required Interest Rate: FD+3%

Figure 0-5: Simple Debit Card

EBL Travel Card

Customer Support Unit (CSU)

SME Banking EBL Agrim

To be repaid within maximum 24 months (Next loan is repayable within 60 months)

No requirement for collateral security Loan repayable in equal monthly installment

Figure 3-6: Five-Stage Model of the Consumer Buying Process

5.1.Marketing Strategies taken by Eastern Bank Ltd. to market

Post Purchase Behavior

Figure 3-7: Market Segment Analysis Market Segmentation Analysis

Figure 3-8: Core Marketing Concept Brand Positioning

Figure 3-9: Customer Relationship Management Types/Variations of CRM

Sales Management System

Consumer Relationship CRM

EBL Secure DPS

Table 0-2: EBL Secure DPS

EBL VISA Signature Card

MORE PEOPLE AROUND THE WORLD GO WITH VISA

Figure 0-10: EBL VISA Signature Card

Lost Luggage Assistance

Contact Center Introduction

Figure 5-11: EBL Contact Centre Work Flow Services

Figure 5-12: Benefits of improving indicators Benefits

Figure 5-13: Focus on number of solved problems