You are on page 1of 70




I, PRABHAT KUMAR do hereby declare that the Dissertation report titled:


Is a genuine research work undertaken by me and it has not been published anywhere earlier.

It has been completed under the guidance of Mrs. Rachna Sexena (Faculty), IIMS Bareilly.

Date: Place:



Every work requires a diligent effort not only on the part of the person directly involved in the successful completion of the work but also the ones who are willing to help and guidance. In the same regards, I would like to thank my Faculty Guide, Mrs. Rachna Sexena who has been a constant support in the working of the project.

Furthermore, I would like to express my gratitude to the employees of ICICI Bank who helped me towards the successful completion of this dissertation and without whose help, the completion of this report would not have been possible.


Chapter 1: Introduction

Introduction to Retail Banking

Chapter 2: Objectives and Methodology

Chapter 3: Case- ICICI Bank
Distribution Strategies Product centric Strategies ICICI Branding

Chapter 4: Innovations by other banks
Savings Account Home Loans Credit Cards Auto Loans

Chapter 5: Customer Preference Survey

Chapter 6: Conclusion Chapter 7: Executive Summary Chapter 8: References Annexure: Question Home Loans Credit Cards Auto Loans Savings Account Chapter 5: Customer Preference Survey Recommendations .

now customers . and so forth. mortgages. personal loans. credit cards. Before Internet era. such as Internet banking and ATMs. Services offered include: savings and checking accounts. consumers largely selected their banks based on how convenient the location of bank’s branches was to their homes or offices. With the Advent of new technologies in the business of bank. debit cards.Chapter 6: Conclusion naire INTRODUCTION Retail Banking Retail banking is typical mass-market banking where individual customers use local branches of larger commercial banks.

000 crore which includes credit card spending of Rs10. Retailing is now favored because of better norms. The markets for the other goods are Housing loan at Rs 25.000 crore. public sector banks are also becoming more technology savvy and customer oriented. Further it offers many opportunities and potential for credit expansion. and so has the choices of customers for selecting the banks.000 crore (30% CAGR). Due to forced competition. Due to globalization a new generation of private sector banks and many foreign banks have also entered the market and they have brought with them several useful and innovative products. GROWTH IN RETAIL BANKING Bankers have been increasingly shifting focus to retail banking to increase profitability and reduce delinquency rates. The size of the retail market is Rs 50. Personal Loan at Rs 4000 crore (10-15% CAGR) and auto loans at Rs75. lesser asset quality problem and low NPA.can freely chose any bank for their transactions. cost pressure and increased competition are some of the reasons for this shift in focus. Customer shifting. Thus the customer base of banks has increased.000 crore (5% CAGR) . This is just the beginning of the story.

According to a research by Reichheld and Sasser in the Harvard Business Review. the customers have many expectations from bank such as (i) Service at reduced cost (ii) Service “Anytime Anywhere” (iii) Personalized Service With increased number of banks. products and services and practically nil switching costs. Banks are finding it tough to get new customers and more importantly retain existing customers. Non-traditional competition. and 125% in the consumer credit card market. credit cards. branch. 50% in insurance and brokerage. insurance.Moreover. 5% increase in customer retention can increase profitability by 35% in banking business. and corporate) Today. Therefore banks are now stressing on retaining customers and increasing . Today’ retail banking sector is characterized by following: •Multiple products (deposits. Internet and kiosk) •Multiple customer groups (consumer. and the proliferation of the Internet are changing the competitive landscape of the retail banking industry. customers are easily switching banks whenever they find better services and products. market consolidation. small business. investments and securities) •Multiple channels of distribution (call center. new technology.

The increase in customer satisfaction has translated to loyalty that resulted in higher . when to sell. personalized services and increased accessibility. But what was discovered is that the financial impact of ATMs is a marginal increase in fee income substantially offset by the cost of significant increases in the number of customer transactions. What do the banks need ? The banks now need to find out what to sell. Banks need to differentiate themselves by adding value-added service. offerings and building long-term relationships with their customers through more customized products. however. Banks also need to identify customers and products that would be most profitable and target customers with products that are most appropriate to their needs and serve the customers with greater cost efficiency. Earlier what drove many bankers to invest in ATMs was the promise of reduced branch cost. Banks also need to find out the avenues for increased customer satisfaction. whom to sell. which leads to increased customer loyalty. how to sell and how to be different to increase share. This may be explained better from two initiatives bank took in the past: 1. was a significant increase in that intangible called customer satisfaction. enhanced value offerings. The value proposition. since customers would use them instead of a branch to transact business.

Again customer satisfaction drives the value proposition. Firstly. . banks need to retain existing customers with enhanced personalized services and products. 2. however. which best suits their needs and satisfies them the most. believing that the Internet was a lower-cost delivery channel and a way to increase sales. This is reflected in a change in the urban household income pattern. it is now undeniable that the face of the Indian consumer is changing. Studies have now shown.customer retention and growing franchise value. The direct fallout of such a change will be the consumption patterns and hence the banking habits of Indians. Thus. There are two main reasons behind this. which will now be skewed towards Retail products. Bankers invested in Internet banking. that the primary value of offering Internet banking services lies in the increased retention of highly valued customer segments. Potential for Retail in India: Is sky the limit? The Indian players are bullish on the Retail business and this is not totally unfounded.

Going by international standards. car and consumer loans. in the business of home. the figure in India stands at less than 5%. But how competitive are the players? The fact that the statistics reveal a huge potential also brings with it a threat that is true for any sector of a country that is opening up. On the other hand. while the total outstanding Retail loans in Taiwan is around 41% of GDP.e. For instance.At the same time. precisely lie the pitfalls of such explosive growth. Here also. India compares pretty poorly with the other economies of the world that are now becoming comparable in terms of spending patterns with the opening up of our economy. There. particularly from local private banks such as HDFC and ICICI. Another comparison that is natural when comparing Retail sectors is the use of credit cards. the financial services market is highly over-leveraged in India. less than 1% was through plastic. one needs to get into the shoes of the foreign banks. Competition is fierce. the potential lies in the fact that of all the consumer expenditure in India in 2001. Just how competitive are our banks? Is the threat of getting drubbed by foreign competition real? To analyze this. a large portion of the Indian population is simply not “bankable” – taking profitability into consideration. The comparison with the West is even more staggering. the corresponding US figure standing at 18%. All banks are targeting the fluffiest segment i. the upwardly mobile urban salaried class. Although the players are .

PAN is a step in this direction but lot more work need to be done.employed and the semi-urban rich. Perhaps.spreading their operations into segments like self. you know that a significant commission earned out of any such booking gets ploughed back to our own economy. it is an open secret that the big city Indian yuppies form the most profitable segment. the spend-now-pay-later “credit culture” in India is just not picking up. On top of this. Overdependence on this segment is bound to bring in inflexibility in the business. These include regulatory restrictions that prevent them from expanding their branch network. A swift legal procedure against consumers creating bad debt is virtually nonexistent. when you see a loan mela or a road show showcasing the retail bouquet of an elite MNC giant. . as a McKinsey study points out actual write-offs on NPAs show a strong negative correlation with sharing of positive information. one of the biggest impediments in foreign players leveraging the Indian markets is the absence of positive credit bureaus. What has been a positive step towards this is a negative file sharing started by a consortium of 11 banks. In the west the risk profile can be easily mapped to things like SSNs and this information can be publicly traded. What about the foreign giants? The foreign banks have identified this problem but there are certain systematic risks involved in operating in the Retail market for them. So these banks often take the Direct Selling Agent (DSA) route whereby low-end jobs like sourcing or transaction processing are outsourced to small regional layers. However. So now on.

Established foreign banks have preferred to take over customers or businesses from other foreign banks that want to leave.2% is falling. the vast geographical and cultural diversity of the country makes credit policy formulation a tough job and it simply cannot be dictated from a Wall Street or a Singapore boardroom! All these add up to the unattractiveness of the Indian retail market to the foreign players. has acquired customers from France's BNP. Thus HSBC. HSBC and Standard Chartered—all in India for more than a century. in spite of the entry of MNCs in many industries. So over the past few years. Germany's Deutsche Bank and Japan's Bank of Tokyo-Mitsubishi. Yet Citibank.Finally. Fewer than 40 remain in India and their share of total bank assets currently 7. We just cannot afford to look inwards and repeat the mistakes that were the side effects of the . Retail Banking has seen a flurry of panicky exits. Those that remain might be thought to be likely buyers of Indian banks. So all for the keeping then? This will perhaps be the most wrongful inference that can be drawn from the above. ABN Amro took over Bank of America's retail business. in recent years. and with relatively large retail networks—seem to have no pressing need to acquire a local bank.

Executive Director. Each economic culture has its own traits and one who successfully adapts those to the business is the eventual winner. The focus of the sector should remain in macroeconomic wealth creation and not increasing the per capita indebtedness that will do little but add to the NPA burden. •Lower credit risk by tighter controls and better analysis . ICICI Bank “ Fast growth in retail is not because of sheer passion for numbers. Positioning a bank as a tech-savvy financial vendor in a country where Internet penetration is an abysmal 1.nationalization of the Banking System.65% can only add to the overleveraging as pointed out earlier. NEW PRIVATE BANKS: STRATEGY PAYING OFF In the words of Chanda Kochchar. albeit successfully. Rather. Retail Banking in India has to be developed in the Indian way. A case in point is the successful implementation of micro-credit networks in Bangladesh. They have often tried to copy process designs that have been tested. A growing market can never be an alibi for lack of innovation. it’s the result of strategic thinking.” •Push retail growth by upping market shares and tapping new customers. notwithstanding the long queues in front of the teller counter in the SBI Joka branch. Indian banks have shown little or no interest in innovative tailor-made products. in the West.

PUSH RETAIL GROWTH BY UPPING MARKET SHARES AND TAPPING NEW CUSTOMERS. Since initial investments are high in Retail. •Operational efficiencies. •Cross-selling of the entire range of credit and investment products and banking services to existing customers is a critical aspect of our retail strategy. strong processes and customer focus. I. fast growth and thereby economies of scale . The key dimensions of ICICI’s retail strategy for increasing its market share are: •Innovative products •Parity pricing •Customer convenience through a vast range of delivery channels.•Leverage balance sheet strength and strong corporate relationships •Follow the customer worldwide and build scalable model for global rollout.

000 new customers everyday and if a customer does 70 to 75 transactions per ICICI make profits much earlier. And today. Hub And Spoke Model ICICI employs a hub-and-spoke model to improve its operational efficiencies. issuing of credit cards and ATM cards. Impressively the bank’s team actually studies assembly line operations and shopfloor operations of manufacturing companies like Ford and Hyundai Motor to improve the . then the bank must run an assembly. While the distribution network enables the bank to add numbers. stringent credit practices help control quality and robust back office and use of technology help improve efficiencies. OPERATIONAL EFFICIENCIES If the bank is adding 10. to process more than one crore cheques a month. That helps speed up the process without adding more employees. Incredibly ICICI actually does it. the cheques are scanned at the regional hubs. It has set up a centralized back office and 18 regional back offices (so called “factories” by the bank) to do account opening.line like operation to process transactions. mailing of account statements. cheque books etc. For instance. the bank’s incremental retail business is 30% the size of the industry and its operating costs are said to be among the lowest. which the bank does.

For instance. which means while the sales team is responsible for getting new business. there is a structured field investigation process to check on the legal documents and property valuation. which approves or rejects customer acquisitions. they are not just scalable but also replicated across functions. Standardization Of Processes In ICICI bank. the bank projects the increase in customer base and transactions for the next quarter and accordingly increases its backoffice bandwidth. Credit is separate from sales. In case of mortgages. because the process was manual. although distribution is decentralized. earlier when a customer applied to open an account. All that helps to keep a close watch on retail credit quality and explains why the bank’s retail net NPA is 0.75%. it is the credit team working on the central credit policy. IN that time.week waiting period was involved. customers are now given a pre-printed welcome kit when they open an account and the cards are activated the next day. Starting a few months ago. his cheque book. risk control is centralized. Besides. Since the processes are standardized. ATM card and pin number would arrive in seven separate envelopes. a three. . every quarter. Adopting a “straight through” processing system lowered the waiting time to five days and reduced the mail load to one envelope.turnaround time.

ICICI Bank offers differentiated liability products to various categories of customers depending on their age group.7 million deposit customers. Tax Saving mutual fund schemes and so on.CUSTOMER SERVICE STRATEGY ICICI has the special account called “Value Added Savings Account:. we are constantly striving to provide products and services that enable customers to fulfill their financial requirements. Moreover customers can have access to ICICI Direct.000 balance in his savings bank account that excess will be transferred to Value Added Savings for share trading. Besides it is offering various Tax saving schemes namely ICICI pension plan. As same as HDFC bank deposits.: Young Star Accounts for children below the age of 18 years. Following a life stage segmentation strategy. Under this. From that day onwards. PRODUCTS During fiscal 2003. For e. ICICI had continued their focus on retail deposits. ICICI Safety bond. if the customer has more than Rs10. This has reduced funding cost and has enabled them to create a stable funding base. he will be given fixed deposit interest rate on the remaining balancr. . with over 4. As the leading provider of retail financial services.g. Student Banking Services for students. no entry load or exit load will be charged on customers.

While the distribution network enables the bank to add numbers, stringent credit practices help control quality and robust back office and use of technology help improve efficiencies. In ICICI bank, although distribution is decentralized, risk control is centralized. Credit is separate from sales, which means while the sales team is responsible for getting new business, it is the credit team working on the central credit policy, which approves or rejects customer acquisitions. In case of mortgages, there is a structured field investigation process to check on the legal documents and property valuation. All that helps to keep a close watch on retail credit quality and explains why the bank’s retail net NPA is 0.75%.


To diversify risk across geographies, the bank in the last two years has been increasing its global footprint and following the Indian corporate customers overseas, where it has set up seven representative offices or branches with applications put in for two more in South Africa and Bangladesh, and a subsidiary in Russia.

Going forward the bank’s policy to consolidate its presence in existing markets, accelerate growth, sustain profitability and build a business model to withstand the pressures of a global rollout. M&A as a route for growth is unlikely as the bank sees little value in acquisitions given the bank’s own reach and equity with customers. Instead, he wants to grow it organically to keep both costs and risks down.









In a bid to further strengthen its balance sheet, the bank securitized assets worth RS 10,700 crore. For marginally lower realization, it takes a lot of risk off the bank’s own balance sheet. With Basel II norms round the corner, the bank will have to access low cost funds to protect its profit margins and cover bad loans.


Multi-channel driven retail customer expansion With the market expansion and customer expansion, ICICI can’t just expand branches. Therefore it needs to look for another delivery model making it convenient to the customers to do banking. So it needs a model to prevent the customer from coming to the bank and at the same time service him.

So there are various other modes like Internet, Mobile, Phone Banking. Roughly, only 30% of the transaction happens through branch, 50% through ATMs, and 10% with phone banking and net banking, but cost wise these channels have a very low cost as compared to a branch transaction. On a rough estimate, if at a branch ICICI has to spend Rs50 per transaction, at an ATM it is almost 25% of the Rs50. So cost of transaction is very low. Therefore it encourages customers to use the ATM or call up if he needs a cheque book etc. If they want to transfer money, it encourages them to go online. ICICI has branches open for 12 hours and migration of the customers from physical to online saves a lot of cost to the bank . To cope with the growth in expansion, ICICI is sourcing almost 2 lakh customers per month. The branches are the same and there is tremendous pressure otherwise on the branch. Therefore, it encourages migration.

Certain core activities customer will continue to do from the branches. There are people

In March 2001. it starts putting up an ATM. ICICI Bank has developed multiple access channels comprising lean brick and mortar branches. A significant portion of this increase came from savings accounts which increased from 0. it is convenient and popular. 2000 to 3. To efficiently distribute its products and services. Things are improving. The current network of 510 ATMs is the largest in the country accounting for nearly 20% of all ATMs in the country.000.5 million customer accounts. Right now there are 300 transactions per ATM per day. call centers and Internet banking. things are taking time.2 million at March 31. on account of the merger of Bank of Madura. ICICI Bank became the first Indian bank to cross the 500 ATM mark. The moment it crosses 400 plus.65 million at March 31. 2001. ICICI Bank’s Internet banking customers increased 400% to 550. NRI accounts also witnessed a strong growth and increased from 23. Earlier. India being a conservative country. FY2001 saw a significant growth in the branch network (including extension counters) to 378. These investments in channel infrastructure have enabled ICICI Bank to achieve rapid growth in its retail business. 2001.29 million to 1. ATMs.who come to the bank just to find out the balance.500 to 84. taking the total number of accounts up from 0.000 at March 31. ICICI has almost 1700 ATMs coming up. Customers can now access their ICICI Bank accounts over telephones in 17 cities. During the year ICICI Bank added over 2.66 million. there were so many apprehensions about the success of ATMs. . Today.

ICICI attributes this increase to the increase in ATM outlets. thus effectively reaching out to a large customer base. This was the only way to counter the reach of national players. we had to take the help of delivery channels like ATMs. This includes more than 500 branches and extension counters. ICICI Bank has hit upon a ratio of 8 ATMs to one branch office. over 1800 ATMs. head of the retail channel infrastructure group at ICICI Bank. at a substantially lower cost. . It services a customer base of more than 5 million customer accounts through a multi-channel access network. “When the banking sector was liberalised we knew that to get a lead over the well entrenched PSU banks. Such has been the impact of ATMs that ICICI Bank’s customer base has grown from two million to five million in the last two years. rather than set up a branch in every suburb. Call Centre and Internet Banking. Anywhere Banking ICICI Bank is the second largest bank in the country. For instance.” ICICI Bank is the most aggressive deployer of ATMs and has seen its base surge from 125 ATMs in January 2000 to 1.200 ATMs today. ICICI is also developing new strategies to leverage their ATM outlets.Says O P Srivastava.

carry out online broking and make other . videoconference with a customer service executive. Keeping in line with the idea of offering convenient. htm E-LOBBIES By installing self-service machines and maybe a one-man enquiry point at the large corporate. Its e-lobbies are its answer to expanding its branch network while still controlling costs. ICICI Bank has pioneered the idea of unstaffed branches in India. please click on the topic of your interest mentioned in the left menu. anywhere banking. one can access the various services ICICI Bank has to offer at anytime. To learn more about the various the self-service banking centers allow customers to pay bills.icicibank. anytime. the bank has provided a convenient service for the employees. These clients make good cross-selling prospects as they are a relatively risk-averse segment.Thus. withdraw money. anywhere and from anyplace. Using leading edge technology. http://www.

Supported by the call centre. couples could invite the agent to meet them at home after dinner when both husband and wife are . This allowed the bank for personal preferences to be catered for. the direct sales agent could arrange a convenient time to visit and discuss the product with the prospective client. Home Loans disbursed by ICICI bank for the year 2002-03 were Rs7000 crore. without needing a cashier. For example. The bank also grew its retail personal loan. which would identify prospects and initiate dialogue. DISTRIBUTION THROUGH INTERMEDIARIES ICICI Bank has seen 100% of its incremental growth in its home loan portfolio through the DSA network. 40% of its Rs 4100crore incremental growth in auto finance and 60% of credit card issuance came from DSAs.such transactions. the e-lobbies also display artwork by upcoming artists. by now famous ‘loan melas’ are conducted by DSAa under the supervision of its employees. ICICI Bank decided to use direct agents to sell its mortgages. At some locations. Evenits. auto loan and credit card portfolio utilizing its 1000 odd DSAs. About 70% of the incremental growth in personal loans. acting as an art gallery. DIRECT APPROACH Recognising the inconvenience of visiting a branch in the highly populated and traffic congested cities like Mumbai and Delhi. The e-lobbies also offer Braille and voiceenabled ATMs for visually impaired customers.

strong distribution capability and customer service focus. PRODUCT CENTRIC INNNOVATIONS IN ICICI BANK If the bank goes to a guy who is already banking with one of the nationalized bank. During the fiscal year 2002. The new products at ICICI give a lot of value added services to the customer making the product more attractive from the plain vanilla products available at other banks.present. Moreover. The key drivers for growth were the strength of our corporate relationships with leading automobile manufacturers. expanding its distribution network to 145 cities and towns across India. ICICI Bank teamed up with the manufacturers and dealers – so that it became the preferred financier at each level – from the customer to the dealer to the manufacturer. such as credit cards and personal loans. it also focuses on the customized products for various segments like r "Young star" account focused on young children. ‘Bank on Campus ‘for the college student and . it increased its lead in the automobile loans market. A similar sales model was used to sell other products. what is the new thing it can tell him? That is where new and innovative products help. To sell its automobile and two-wheeler loans.

SPECIAL SAVINGS ACCOUNT .000 across all ICICI Bank branches. ICICI also focuses a lot on cross selling to promote the products.salary account for the working people.000 only. ICICI BANK provides the following retail banking products for its customers: SAVINGS ACCOUNTS Features •The ICICI Bank Ncash debit card is a debit-cum-ATM card providing the convenience of acceptance at merchant establishments and cash withdrawals at ATMs.This facility entitles the account holder to withdraw or deposit cash upto a limit of Rs. •A customer can give the bank various types of standing instructions like transferring to fixed deposit accounts at regular intervals. •Auto Invest Account •Internet Banking is offered free of cost. •Anywhere Banking .50. •An average quarterly balance of Rs 5.

25. which offers to sweep balances above Rs. In other words.5. SENIOR CITIZENS SAVINGS ACCOUNT Features •Higher Interest Rates.000 in multiples of Rs. •A saving account. •No minimum balance requirement. •Payroll processing for employees of the organisation through ICICI Bank Salary Accounts •Inward remittance through Money2India for FCRA approved trusts. .000 to a fixed deposit for 1 year. there is no penalty for nonmaintenance of minimum balances in the accounts. •Internet Banking •Free Anywhere banking •Free collection of outstation cheques •Free monthly account statements.Features •An operating account with free multi city chequebook facility.

•The upcountry cheque collection facility for locations with ICICI Bank presence free of charge to the Senior Citizen customers.•Demand Loan / overdraft against deposits will be upto 90% of the deposit. •Auto Invest Account •Internet Banking is offered free of cost.000 and avail zero balance facility in the savings accounts WOMEN ACCOUNT The features of the account have been specially designed keeping in mind a woman's financial requirements.50. all features of the existing bank account are available with this . •Anywhere Banking . A Fixed deposit with a minimum value of Rs.000 across all ICICI Bank branches.10. These include : A)Recurring B)Financial planning Deposits of children C) Family Shield Insurance In addition to these.This facility entitles the account holder to withdraw or deposit cash upto a limit of Rs.

a student can now look forward to the new face we have given to banking . unlike the normal current account which is based on the . ICICI Bank's Student Banking Service. In addition.account as well such as •Free international debit card •Internet Banking •Phone Banking •ATM's BANK@CAMPUS With bank@campus. he gets: Free Phone Banking Free transfer of funds into his / her account from any ICICI Bank account • • Annual statement of accounts CURRENT ACCOUNTS Made to Order current account Made2order current account.his / her computer monitor.

at Young Stars.quarterly balance. allows the customer to have customized current account based on the business requirement. fun zones and special pages on the internet. . cute companions will guide your child through the world of banking -through checking the account balance. without having the requirement to Current Accounts have specific requirement of Quarterly Average Balance (QAB) maintenance and inturn offer various facilities free of cost to the customer based on the QAB. It makes banking a pleasure and of course teaches your child to manage their personal finances. A personalized schedule of charges is derived for each customer based on: •Service Required •QAB as agreed to be maintained in the account •Float expected in the account YOUNG STARS ACCOUNT Banking can be fun Here. The made2order current account is totally flexible and can be adapted to changing business requirement.

LOANS Home Loan: •Attractive interest rates •Door-step service from enquiry stage till final disbursement •Can transfer your existing high-interest rate loan •Free personal accidental insurance •Special 100% funding for select properties •Personal Loan •Car Loan •Two Wheeler Loan •Commercial Vehicle Loan •Loans against Securities . you can even shop with him / her at Young Stars very own shopping page. You can even open a recurring deposit in your child's name.With the pocket money that you transfer to your child's account. Once you are done with your 'banking'. you can access your child's account with all the fun links to special zones designed to suit your child's area of interests and also impart knowledge on the current events of the world.

•Farm Equipment Loans •Construction Equipment Loans •Office Equipment Loans •Medical Equipment Loans •Loan against Gold ICICI CARDS ICICI TRAVEL CARD The ICICI Bank Travel Card is a powerful new concept for international travelers: a prepaid card. and withdraw in any local currency in the world Convenient & Secure:No more hassles of finding Money Changers and encashing travellers cheques! . you can buy using Indian rupees.

The Sensible Choice Basic Features ICICI Bank and HPCL bring the "Fuel" Debit Card. Your ICICI Bank HPCL Debit Card comes packed with the following features: •Direct On-line debit to your ICICI Bank account. One can also shop at over 13 million merchants who accept VISA Electron Cards. dining and traveling needs. In fact you can use the card for all your shopping.000 VISA ATMs all over India. Worldwide Assistance: Round the clock medical and travel assistance. .000 shops. A debit card designed with just your convenience in mind.As good as Cash: ICICI Bank Travel Card gives access to local currency through 8. •Accepted at over 90. so you spend with total control.000 VISA ATMs. •Refund of surcharge* for fuel purchases at HPCL pumps. more than 1.800 ICICI Bank ATM's and more than 10.50. Just hand it over at any HPCL pumps and SAVE on your fuel purchases. •International card offering deposit access at over 13 million shops and & VISA ATM's all over the world. DEBIT CARDS ICICI Bank HPCL Debit Card.

the ICICI Bank Ncash Debit card is a most convenient accessory for you. and debit your ICICI Bank account directly when transacting at any VISA accredited member establishment or ATM across the world! RECENT LAUNCH ICICI Bank has recently launched `Mutual Fund Sweep Account' for its current account holders. •Lost card insurance. •Itemized billing on your bank statement. No more fear of overspending.•24 Hour Customer Care Centre •Speed-O-Miles Rewards Programme.Power Your Wallet Basic Features Combining the acceptability of a credit card and the prudence of an ATM Card. . Only more comfort and convenience! With the ICICI Bank Ncash Debit Card you can shop using VISA Electron's on-line debit program. customers can park surplus funds in their current accounts in high-liquidity mutual funds through an automatic sweep facility. ICICI Bank Ncash Debit Card. According to a bank release. No more searching for the nearest ATM.

the mutual fund schemes available under this facility are restricted to liquid fund schemes of Prudential ICICI AMC and GIC Mutual Fund.'' Most of the private sector and foreign banks have been offering a sweep facility in the savings account through which customers can park surplus funds in fixed deposits. The release quoted Ms Chanda Kochchar. "it is a unique product that merges the transaction efficiency of the banking account with the returns potential of a liquid mutual fund and is likely to change the way mutual funds are sold and distributed. The choice of funds would be increased subsequently.Initially. mutual fund sweep account is a new product. ICICI Bank. However. CHALLENGES FOR ICICI BANK The Changing Market •Increasing customer expectations •Complex products •Reduced pioneer advantage •Competitive pressure on margins •Products to client service orientation . as saying. Executive Director.

The Operations Challenge •Retail business is a transaction oriented business •Growth in business volumes •Increase in customer numbers •Higher transaction volumes •Operational challenge present in all aspects of the business •Front Office •Back Office •Various systems and processes linking them MEETING THE CHALLENGE Operations •Anticipate transaction volumes and build capacity to meet the same •Improve productivity of processes •Re-engineer processes to enhance efficiencies of scale •Sufficient internal controls and risk management practices .

Organisation Structure •Evolving organisation structure •Geographic to functional orientation •Customer centric orientation for identified segments •Product centric orientation for mass market •Product centric approach helps gain market share •Customer centric approach helps deepen relationships Understanding the customer •Market research and customer surveys to help in •designing appropriate products and processes •improving cross sell ratio and profitability •Controlling cost by eliminating unnecessary product features and processes •Pricing products according to value to customer rather than cost •Managing performance of employees in delivering customer delight Alliances and partnerships .

a major player in home loan market.•Bundling of services to improve convenience to customers •Overcoming regulatory constraints •Enhancing customer experience and promoting stickiness Gauging Customer Satisfaction •Regular tracking of customer requests and requirements •Analysis of the same •Ascertaining change in processes required to meet customer requests •Re-engineer processes based on feedback The retail lending portfolio of the bank is growing @ 40-50%.697 crore recorded .outlookmoney. for the fiscal 200304 by registering disbursements of Rs 13. ICICI: TOUCHING EVERY ASPECT OF CUSTOMER INTERACTION http://www.asp? pt=&si=625205291&rf=0&ci= ICICI Bank has overtaken HDFC. The Balance Sheet mix of corporate and retail is now 68:32.278 crore as against Rs 12. the deposit products by 3040% and credit cards by over 100%. this mix is changing and the incremental growth of corporate to retail is now 45:55.

In the words of ICICI Bank Home Loans’ Rajiv Sabharwal. . the disbursals of the entity in FY-04 grew by 28 per cent at Rs 12. The bank at present has a market share of about 27 per cent of the total market of Rs 5.00.951 crore in FY-03). HDFC chairman Deepak Parekh has in the past gone on record that the housing finance company was not looking at a market share growth but would focus on growing profitably.000 crore approximately.4 crore in FY-03 to Rs 13.278 crore in FY-04. which has grown aggressively in a time span of five years. According the HDFC's annual performance.659. We will also increase our presence even beyond the 400-plus locations where we are currently present". Both entities were marketing their home loan products through their branch networks and direct sales agents. rose from Rs 8. "We will continue to try and provide competitive rates. HDFC Bank was also sourcing housing loans from HDFC.697 crore (Rs the latter. along with innovative addon services. The disbursals of ICICI Bank. banking industry sources said.

Innovations in the Cards market have resulted in the evolution of the card from being a “convenient alternative to Cash” to becoming the “financial window” for the bank to offer bundled services to consumers.5 Cards per person in advanced markets. Cards issuers constantly analyse customer behaviour. have become an integral part of Consumer Finance with banks becoming large issuers and acquirers over the years. Credits Cards thus. Card products span a wide range of offerings that are structured to meet the requirements/demands/life style of consumers.5 per cent for all tenures on floating rates while in case of HDFC. competition and technological advances to innovate and improve the .5 to 8.5 per cent INNOVATIONS IN CREDIT CARDS The Evolution of Credit cards The acceptance of the Credit Card as a replacement for cash has become a reality and the average usage has hit 3.ICICI Bank was currently offering home loans at 7. the rates were pegged between 7. The expanding gamut of credit cards: Today. This has been a natural evolution with the intermediation of Banks disappearing and the avenues for large scale secured loans being a distant past. the turnover matching that for Cash and Cheques.

Affinity.productmix for specific customer segments. Co-issuing. to impact: •Credit Limit •Over limit etc. In addition. Banks have roped in partners for Co-branding. and Loyalty programs to encourage cardholders to increase card spends and also to revolve the . numerous card types have evolved to meet the needs of various consumer groups. These are implemented using a combination of: •Features •New Card Designs •Fee / APR / Charges linked to option of services •Pricing Strategies •Loyalty / Rewards / promotions /campaigns •Behavioural / Transactional Scoring. host of generic services are linked to the Card Products (these would wary from an issuer to issuer with most of the underlying features being alike) INNOVATIONS IN THE CARDS BUSINESS Aided by technology and innovation fuelled by the market needs and underlying growth propositions.

9 Million Cards Portfolio in one Year) •Business Purchase Cards (Meeting all the Purchase requirements of a small / Medium Enterprise) •Co-branded Cards aimed at maximizing benefits to the Card Holder by both the issuing and Co-branding partners. practices. Card being the underlying proposition in ecommerce and the best and most convenient vehicle for delivering financial services across borders. covering those segments as well. alliances and products have reached a stage where the offerings on Card products include the following variants. technology. which were outside the traditional consumer segment: •Corporate / Business Cards (AMEX having a $45 BN spend on their 4. services. joining of retailers and telecom companies into this space. attractive ROI. Continuous improvement of processes. Cards businesses are evolving with intense competition. •Co-issuing for and on behalf of a partner •Affinity Cards representing a close user group with the benefits realised on the spend by the Affinity Group •Instalment Loans with EMI linked to Card outside the Credit Limit •Personal Loan linked to a Card •Consumer Loan disbursed through a Card with a credit line equivalent to the Loan .credit thus promising to maximise the value for each $ spent by the customer.

the Soccer Card and Olympic Games Card.are . The Marathon Card is a logical extension of the Standard Chartered Bank product suite.amount…The paid up instalments adding to Open To Buy (OTB) •Secondary Limits on the Cards during high spend seasons •Hybrid products covering the features of the Card and the Loan •Virtual Card (e-card for exclusive use on the net) •A Card as part of the Mobile Phone SIM card for making Payments etc. Its earlier success includes that of the Cricket Card. Standard Chartered Bank is the market leader in sport based affinity card programmes. The exclusive offers for the customer include: Free Reebok Running Shoes: A pair of Reebok 3D Runner Shoes worth Rs. Standard Chartered’s Marathon Credit Card Standard Chartered Bank in association with VISA International has introduced the Marathon credit card. 2290/. It has partnered with Reebok in its endeavour to promote fitness among the customers. This special card is issued to celebrate the spirit of the Standard Chartered Mumbai Marathon and to compliment the spirit of fitness.

45. offering discounts at retail stores or tying up with hotels for holiday packages to ensure customer loyalty.99% per month. luring you to binge on your card. Supplementary Card free for life: All Marathon cardmembers could gift their near and dear ones supplementary Marathon Credit Cards. with a customer base of seven million people. Is the credit card market heading for clutter? Are credit card companies struggling to differentiate their respective brands? Although industry experts claim that the market is growing at a rate of 25-30 per cent every year. and . they feel that the usage and understanding of the card users are not high.2.on the Marathon Credit Card every month. out will pop a host of rewards along with it.offered free with every card Balance Transfer at 0.99%: An attractive balance transfer at a very low interest rate of 0. for the first 6 months.each. customers get a chance to win Reebok treadmills worth Rs.000/. Citibank’s "Premium" A 20 per cent discount at the newest food haunt in town. Almost all the credit card companies are looking at the same old F&B tie-ups. Win Reebok treadmills: On spending just Rs 900/. for a period of 8 months. These cards are offered free for life. an opportunity to win diamonds with every purchase or a holiday package dirt-cheap — each time you receive your credit card statement.

the co-branded card launched by Standard Chartered Bank and Bharat Petroleum in association with Visa. incentives and tie-ups. but credit card companies still feel that it is a good way of increasing sales. . The relevance of such offers is ascertained through extensive research and feedback from customers. Director (Corporate Affairs). "One of the concerns of many card issuers in India is to ensure that once the customer is sold the credit card. it becomes the preferred payment mechanism in his wallet vis-à-vis other cards that he may own. Cardholders also get a fee waiver on purchase of fuel at over 225 designated Bharat Petroleum outlets in 10 cities across the country. It enables cardholders to earn one reward point for every Rs 125 spent on the card. Encouraging cardholders to use their cards initially through rewards and benefits is a good way of increasing category awareness and drives up card sales volumes. Standard Chartered Bank takes great care in ensuring the relevance of such offers to the customers." he added. is an example of offering a value proposition.that only 20 per cent of the card base actually generates revenue for the card issuers. "Smartfill. While the market is getting cluttered with offers. Standard Chartered Bank. Rewards and sales The strategy of offering rewards in the form of a discounted meal or a holiday may sound run-of-the-mill." says Neel Chatterjee.

The need of the hour is to develop new and innovative areas of usage of cards. Yet another example of a credit card company trying to offer its customers value propositions through co-branding is ICICI Bank. which are not only relevant to the customers but also make business sense to the companies. AUTO LOANS INTRODUCTION Chalti Ka Naam Gaadi. ICICI Bank-BPL." says the ICICI spokesperson. ICICI Bank-Trinetra and ICICI BankAmway. The bank has four co-branding relationships — ICICI Bank-HPCL.. Each of these targets the need of particular groups of people. ... we would continue to look for partnership and associations to provide other value added services to the consumers.

000 loan) 1year (Rs) Citibank HSBC 9.451 Comprehensive schemes incl leasing Maruti Specials . Nowadays there are many cars in the market and as many (if not more) ways to buy them.097 3 years 5 (Rs) 3.459 2.451 2.489 2.973 Mahindra Countrywid 8.120 9.492 3.515 2.515 3.973 3. but can you understand the multiple car loan options in the market? You have 6/6 eyesight but still can't read the fine print.912 Finance Kotak 8.541 3.515 3.993 8. Happy driving! Comparison Of Different Banks/ Auto Finance Companies EMI (per Rs Remarks 100. We help you in clearing the clutter behind all the jargon.438 Cardholders get a discount Existing customers get preferential rates Check for accountholder benefits ICICI bond holder get discount Only Fiat Cars years HDFC Bank 8.You might be able to differentiate between a cylinder and a piston.445 2.993 ICICI Fiat 8.423 (Rs) 2.565 3.

973 3.Dec '2001 New products or innovations in the car finance sector Car Overdraft: ICICI Bank has already launched the Car Overdraft product in 2004 and it is going to be a focus area in the year 2005. An overdraft account is opened for the customer with a pre-approved limit set up.493 2. which is valued before setting up the limit. He also has .975 Only for Ford cars. The overdraft facility is provided in the form of an ICICI Bank Roaming Current Account (with an overdraft limit). the customers can then withdraw money from ATMs or use their debit cards at various merchant establishments as per his requirement.425 3.993 Grindlays Saraswat Bank Ford Credit 8. This limit depends on the vintage and condition of the car.492 2. Once this limit is set up.500 2. 3.438 Offered special services to expedite delivery Slow processing and FD requirements Source: Auto India.e ANZ 8. The customer pays interest only on the amount withdrawn by him from the account for the period it is withdrawn for.

Car loans is another turf where competition is forcing innovation. Refinance and top-up loans are also being offered for not just ICICI Bank customers. For instance.the flexibility of repaying a minimum of 5 per cent of the total outstanding every month. With better control on process of transactions on used cars — highlighted by entry of organised players and showroom price tags. credit card. Standard Chartered is offering loans of up to 75 per cent of the value of a car less than five years old. very similar to the facility available on credit cards repayment. The customer can simply contact the call centre to find out if he/she has a pre-approved loan. Even though it is classified as a personal loan. The availability of used cars loans is now expected to reach much beyond the current reach and into the C category smaller townships across India. Loan on Phone: This is a unique offer to some of ICICI customers who have been given a pre-approved car loan based on their existing relationship. the rate is cheaper because the loan . as also the regular benefits of a roaming current account. On getting a confirmation he can walk into any dealership or contact our channel partner and take the car by completing minimal documentation. Used cars loans: These are expected to get more aggressive. this is expected to lead to more financing on used cars. car loan. but even customers with repayments from other financiers. The car overdraft facility is like providing mixed benefits of a personal loan.

according to the bank. the bank will open an ICICI Bank roaming current account in the customer's name with a pre-approved overdraft limit. including multi-city chequebook. Normally. ICICI Bank HPCL Visa Electron Debit card. The customer will pay interest only on the amount withdrawn and for the period it is withdrawn. customers will get all the regular benefits of ICICI Bank 'roaming current account'. They also get the flexibility of repaying only a minimum of five per cent of the total outstanding every secured against the car and the money can be used for anything. ICICI Bank introduces `Car Overdraft' facility ICICI Bank has launched the 'car overdraft' facility against the car as security. personal loans are costlier because they are unsecured loans. fund transfer facilities. In addition. The limit of the overdraft will be determined on the basis of the vintage and condition of the car. . internet banking. The account is accessible to the customer through multi-city cheque and debit card. phone banking etc. Under the scheme.

internet banking and. This is followed by ATMs.CUSTOMER PREFERENCES SURVEY “Which bank/s are you banking with?” As the graph clearly shows. As the above pie charts depict branch banking usage is also dependent on the age of the customer segment. phone banking and mobile banking in that order. . The key results are: Branch banking is the most popular in the age group >30 years as there are almost 67% of respondents in these age groups who prefer branch banking over all the other methods. the most popular and the most used channel for all retail banking needs is still branch banking.

majority of the respondents felt that convenience was more important to them than the extra costs involved in getting those services. the majority of private and foreign banks’ customers felt that these methods were unreliable. internet etc. As depicted by the graph. “Reasons for not using the lower ranked channels” A majority of people banking with public banks cited the reason that they did not use technology based methods like ATM. time consuming and they were not aware that these services were available with the bank. branch banking was the second choice for the majority of the customers. . • This implies that even if banks charge a nominal fee for some of the extra services to make retail banking more convenient to the customers.In the age groups up to 30 years. as they were either not available with the bank or they did not know how to use them On the other hand. it would be acceptable to the customers. The other reasons cited were: •Never felt the need to use any other method •Don’t want to try something new etc.

used it as their first or second choice for retail banking functions. Majority of the respondents who agreed that internet was not secure had either never used internet as a channel or used it as their last choice for banking.“Branch banking is the most reliable channel since it involves face to face interaction” “Information concerning internet banking transactions can be tampered by others” Security of the banking transactions over the internet seemed to be the most important hindrance in making people use internet as a channel for retail banking. This shows that the banks more than just providing the services should also focus on . Similarly those who disagreed that internet was not secure. “I would not like to use new technology based methods for my banking transactions” Approx 65 % agreed and 35% disagreed that they would like to try internet and other methods on trial basis if they knew how to use them and if there banks provided them with all the required information. This shows their reliability on internet and preference for convenience.

the most important reason cited for dis-satisfaction was high interest on loans followed by bad service which includes ATMs usually not working. Mobile message alerts not being received on time etc. . “What according to you should the banks do to retain you as a customer?” As depicted by the above pie charts. “Factors considered important for choosing a retail bank” As shown in the above graph. the reason for which can be that customers want first to be satisfied with the current products and services before being offered new products from the same bank. The least important reason for dissatisfaction was cited as Lack of special offers for existing customers. people in different age groups have different expectations from their banks which are as follows: •Respondents in the age group of 20-25 and 25-30 had similar requirements as a majority of respondents of both the groups favored bundling of banking and non banking services followed by a need for innovative products.spreading awareness about them and also make people aware of how easy they are to use and how to use them.

•Respondents in the age group of >30 years seemed to be more price sensitive towards the products & services being provided by the banks.e a majority of them needed home loans in the next two years followed by auto loans.•An equal number of respondents in the age group of 30-40 gave importance to innovative products. Followed by this. approx 33% would need credit cards. which is for their first vehicle. •77% of the respondents in the age group 25-30 years mentioned that they would need a home loan in the next two years followed by 23% who said that they would need auto loans. “What are the information tools that you use for making your retail banking products decisions? “ The pie charts for future retail banking requirements give the following results: •Majority of people in the age group (approx 50%) would need auto loans in the next two years. •A similar result was shown in the segment of 30-40 years i. . This finding proves that this is the most attractive segment for banks to give housing loan offers. convenient distribution channels and less costly services as tools for banks to retain them •The respondents in the age group of greater than 40 wanted less costly services and convenient distribution channels.

•Only 13% of the respondents that too belonging to the age group of >40 years said that they needed personal loans in the near future. “I would prefer the bank I am currently banking with.ALT=Your browser may not support display of this image. This proves that cross selling can prove to an important strategy for banks to increase their share in the customer’s wallet. Almost an equal number wanted to get credit cards and home loans in the near future.•A majority in the age group > 40 years planned to take home loans in the next two years even though for them the intention was to buy a second car for the family. yet 73% of the respondents agreed that they would prefer going to their current bank for their future retail banking needs as well. ." Although personal experience and loyalty was not rated high as an important factor for making retail banking decision. for my next future retail banking need” FPRIVATE "TYPE=PICT.

phone banking etc. •Banks should devise future products looking at the individual requirements of the various customer segments. this is essentially true for some of the Public Sector Banks. . For e. think it is unreliable or do not know how to use them.g Home Loans for the age group of 25-30 years. •Banks need to focus on factors like promptness of service and quality of service in order to gain the market share. Therefore the banks need to focus on spreading more awareness about their benefits. Moreover they should direct their marketing strategies towards segments which can be the most attractive for that particular retail product. most of the customers are reluctant to use them as they are either not aware of it.RECOMMENDATIONS •Although the banks have been providing distribution channels like in internet. usage and reliability if they want to save costs at the distribution channel’s end.

•What the retail banks need to do is identify new segments more frequently and come up with more and more value-propositions which will give the customers enough and more reasons to use their products. want better services. are willing to try new product and delivery channels if they are safe. It is characterized by the: •Significant change in demographic profile •Huge market potential •Increasingly challenging business environment •Competitive tools are different – need to redefine delivery models and . •Customers today are willing to pay more for convenience. For e. All this provides immense opportunity for banks to continue inventing to grow in the retail banking industry. This is being implemented in the Credit and debit cards to a large extent but now should also be linked to the other products." CONCLUSION TO MY RESEARCH The retail banking scenario is changing at an immense speed.•Another aspect that was revealed out of this survey was that customers favor retail banking products which combine a banking product with non banking products or benefits.g The banks could probably look at offering a credit card to college students for their educational expenses.

In this fast changing processes. banks need to equip themselves with internal capabilities and build efficient and viable business models to create the advantage of new opportunities available into a long term sustainable competitive advantage Banks today cannot restrict their learnings to the best practices followed in the industry but they need to look at other benchmark industries to derive learning on various important business parameters. They need to learn from each other and also benchmark not only banking and financial services industries but winning companies across a wide range of industries A continuous innovation in every aspect of business can only help banks to keep pace with the ever changing and ever evolving consumer mind. .

and so forth. debit cards. Services offered include: savings and checking accounts. The report starts with a detailed analysis of the retail industry how its has grown and who are the major players in the industry. Thereafter I have included ICICI as a case to understand the strategies followed by it in order to grow in the retail banking scenario. personal loans. credit cards. Retail banking is typical mass-market banking where individual customers use local branches of larger commercial banks. mortgages.EXECUTIVE SUMMARY The Project involves studying the retail banking strategies being adopted by various banks with special focus on ICICI Bank. I have also included examples from some other banks that have been bringing in product .

Credit Cards. . On the basis of the entire research I have given my own recommendations and conclusion as to what should be the focus of the banks in order to succeed in the retail banking arena. My main focus has been on the Savings Account. Thereafter the report tries to look at the other important aspect of Retail Banking i.e. his preferences and expectations. This information was gathered by studying the products and distribution channels of these banks and selecting some of the best examples. Home Loans and Auto Loans.centric and distribution centric innovations in order to differentiate themselves. to their current retail requirements and also their future requirements and expectations. This has been done through a market survey of sample size of 50 respondents. the customer’s perspective. The questionnaire had a wide range of questions from the distribution channels used by the customers.

New Age Banking Way” Business Standard “Innovation games bankers play” Tamal Bandyopadhyay | May 22. Oct 21. 2004/05 “Banking ON Emotional Bonding” •Financial Express.Indian Banking November 2004 “Retail Banking. 2005 “India’s Best Banks” •Pitch: Marketing at crossroads December 15. the new growth driver” •Business Today January 2.REFERENCES Magazines: •Chartered Financial Analyst. 2004 Websites: .January 14.2002 “Knowing Your Customer.

bseindia.pdf .pdf • • ansform_Retail_Banking_Sep04_OfA.upenn.pdf • ••http://fic.igi-online.wharton.php •http://www.pdf •http://www.pdf • •

QUESTIONNAIRE 1. Which retail banking products do you currently have? •Home Loans •Auto Loans •Credit Cards •Savings Account •Personal Loans •Others ___________________________________ . Which bank/s are you currently banking with? (Please mention all) 2.

Tick the reason/s for not using the lower ranked channels mentioned in Q3: •It is not available with my bank •It is unreliable •I don’t know how to use it •I think its very complicated and confusing to use •Its more time consuming than the other methods •I don’t know if it’s available with my bank and for my banking needs •It is costlier than the other channels .3. Rank the following channels from 1 to 5 in terms of how much do you use these channels ( 1 being the rank of the channel that you use the most) •Internet Banking •ATMs •Branch Banking •Phone Banking •Mobile banking 4.

Strongly Disagree Trade off between Convenience and Costs •“Convenience is more important for fulfilling my banking needs than the extra costs involved” Reliability •“Branch banking is the most reliable channel since it involves face to face interaction” •I am concerned over the security aspects of internet banking transactions.Disagree 5 . Please mark your level of agreement with the following statements: 1 . no ATM around my area etc ) •Any other reason ____________________________ 5.•I don’t have access to it (no internet connection. no phone. •Information concerning internet banking transactions can be tampered by others . 2 – Agree.Somewhat Agree 4 . 3 .Strongly agree.

Not Interested 12345 6. Rate the factor from 1 to 5 in terms of their importance in choosing a retail bank (5 being the highest and 1 being the least) •Charges/ Fees for services •Quality of service •Loyalty/ Personal experience with the bank •Branch ambience and location •Speed/ promptness of service •Brand image (like ICICI reliable) •Special promotional offers (0% interest on credit cards for 1 year etc ) .•I don’t like to use new technology based channels for my banking transactions” Triability •To what extent would you use internet banking and paid channels if it is available on a trial basis for a month Very interested ----------------------------------------.

) •High interest rates on loans/ overdrafts •Bad customer service •Less number of delivery channels (branches/ ATMs etc) •Time consuming transactions/ Processes •Lack of special offers for existing customers •Inefficient staff •Mention if any other reason ______________________________ 8. one being the lowest rating and 5 being the highest. should the banks do to retain you as a customer? •Better and innovative products •More convenient distribution channels •Less costly services . What according to you.•Interest rates on deposits/ car loans/ auto loans/ credit cards etc •Others Please specify ________________________________ 7. Rate the possible reasons for dissatisfaction from a retail banking provider (rate from 1 to 5.

discounts at stores with credit cards etc) •Establish a better brand image. What could be you future financial needs in the next 2 years? •Home Loans •Car Loan . Which of the following information search tools which you could use for making a choice for your retail banking product? •Family/ Friends/ Relatives advice •Bank staff •Website visits •Newspapers •Banking magazines and reviews •Others 10. •Others please specify __________________________ 9.•Combining financial services to provide package offers •Bundling of banking services and non banking services (such as tickets to concerts.

“I would prefer the bank I am currently banking with. for my next retail banking need” •Yes •No: .•Credit Cards •Savings Account •Personal loans •Others ___________________________________ 11.