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A Study On Performance Evaluation of The Commercial Banks in Bangladesh A Comparative Scenario of Private Foreign and Islamic Banks PDF
A Study On Performance Evaluation of The Commercial Banks in Bangladesh A Comparative Scenario of Private Foreign and Islamic Banks PDF
A thesis paper that measures and compares the performaces of three banking groups in Bangladesh
form 2008 to 2014
Supervised by
Dr. Md. Rafiqul Islam
Professor
Department of Banking and Insurance
Prepared by
Hasan Mohammad Tareq
ID.: 778
17th Batch
MBA Program (Regular)
Department of Banking and Insurance
31 August 2016
LETTER OF TRANSMITTAL
31 August 2016
Dear Sir,
This is a great pleasure to inform you that I have prepared the thesis paper on “A Study on
Performance Evaluation of the Commercial Banks in Bangladesh: A Comparative Scenario
of Private, Foreign and Islamic Banks” as a part of my regular MBA Program. The making
of the report gave me an opportunity to know about the banking sector of the country and the
comparative performances of the selected three banking groups. I tried the utmost I was
capable of preparing this paper and hope it will satisfy your expectation.
With due respect, I would like to request you to excuse for any mistake of mine that may
exist in this paper despite my best effort and to view them with your generous consideration.
I will be available at your convenient time if and when necessary for any further clarification
about this paper.
Sincerely Yours
………………………………………….
Hasan Mohammad Tareq
ID.: 778
17th Batch
Regular MBA Program
Department of Banking and Insurance
Faculty of Business Studies (FBS)
University of Dhaka
ii
SUPERVISOR’S CERTIFICATE
This is to certify that the thesis paper on “A Study on Performance Evaluation of the
Commercial Banks in Bangladesh: A Comparative Scenario of Private, Foreign and Islamic
Bank”s in the bona fide record at the report is done by Hasan Mohammd Tareq, ID: 778, 17th
batch, regular MBA program as a partial fulfillment of the requirement of MBA degree from
the Department of Banking and Insurance, University of Dhaka.
The paper has been prepared under my guidance and is a record of the bona fide work carried
out successfully.
……………………………………………
iii
DECLARATION
I, hereby, declare that this paper titled “A Study on Performance Evaluation of the
Commercial Banks in Bangladesh: A Comparative Scenario of Private, Foreign and Islamic
Banks” is an original of work mine and it has been prepared under the guidance of Professor
Dr. Md. Rafiqul Islam, the supervisor of my thesis paper as a requirement for the completion
of my MBA degree from Department of Banking and Insurance, Faculty of Business Studies
(FBS), University of Dhaka.
This report is prepared solely for Department of Banking and Insurance, Faculty of Business
Studies (FBS), University of Dhaka. This report neither fully nor partially has ever been
submitted for any other Certificate/Degree/Diploma or Qualification to any other
University/College/Institution or Organization.
………………………………………….
Hasan Mohammad Tareq
ID.: 778
17th Batch
Regular MBA Program
Department of Banking and Insurance
Faculty of Business Studies (FBS)
University of Dhaka
iv
ACKNOWLEDGEMENT
At the very outset, I would like to express my deepest gratitude to Almighty Allah Subhan
Wa Ta’ala for giving me the strength and patience to finish the paper within the scheduled
time.
From the core of my heart, I would like to thank my respectful supervisor of my thesis paper
program Dr. Md. Rafiqul Islam, Professor, Department of Banking and Insurance, Faculty of
Business Studies (FBS), University of Dhaka, who helped me in every step throughout the
program. It was an amazing experience with him. Without his help it would be almost
impossible for me to complete the paper within this short time.
I am very much thankful to my class mate Mr. Amrita Debnath for providing me logistic
supports.
v
EXECUTIVE SUMMARY
The purpose of this paper is to analyze and compare the performances of three banking
groups of Bangladesh on the basis of eight selected tools from 2008 to 2014. The private
commercial banks (PCBs), the foreign banks (FCBs) and the Islamic banks (IBs) are the three
groups those the researcher selected for the study. The selected eight tools were: deposits,
total assets, net interest income, net income, return on assets, return on equity, number of
branches and number of employees. The researcher wanted to find out if the performances of
these three banking groups are significantly different from each other or not and if they differ
than in which areas they do this. The researcher also wanted to know if the net interest
incomes of these three banking groups can be predicted or not if deposits and the number of
branches are already known.
In order to prepare the paper the secondary sources of data were greatly used, specially the
annual reports published by Bangladesh Banks from 2008 to 2015. Trend analysis, hypothesis
testing and regression analysis of were conducted to find out the results. All of the ANOVA
tests were conducted at a 5% significance level for greater acceptance of the paper.
It has been found from the study that the performances of the three banking groups are
significantly different from each other in case of deposits, total assets, net interest income, net
income, return on assets, number of branches and employment generation. However the
performances of the banks in case of return on equity are not significantly different from each
other. In terms of volume and the market share of deposits and assets, the PCBs rank first. In
terms of the growth of deposits and assets, the IBs rank first. In terms of volume of net
interest income the PCBs rank first followed by the IBs. The FCBs are the best in terms of
return on assets ratio. But no bank is better in terms of return on equity ratio. The PCBs have
the maximum number of branches in the country with an upwarding slope, followed by the
IBs. Despite being similar to the IBs in size the FCBs have very few branches comparatively.
The PCBs generate the maximum amount of employment, followed by the IBs. Deposits and
branch expansion are negatively correlated with the net interest income in case of the PCBs
and the FCBs respectively. But thses two variables are strongly and positively correlated with
the net interest income in case of the IBs.
It is suggested that the banks who want to improve their profitability in terms of return on
equity ratio must focus on the use of optimum capital structure. The FCBs must not increase
their branches as long as they find out the reason for not increasing net interest income in
response to their branch expansion.
The researcher worked on the recent seven years’ data only for analyzing and drawing the
conclusion. If the data could be increased then the results would show almost the exact
scenario of the banking industry. Also, the work of this paper excluded the specialized
commercial banks and the state owned commercial banks from the study and hence does not
deal with their performances. Besieds these, the researcher suggest that a research be
conducted adressing the issue of the number of banks that should stay in an economy.
Keywords: SCBs, DFIs, PCBs, FCBs, IBs, Conventional Bank, Islamic Banks.
vi
TABLE OF CONTENTS
Chapters Titles Page
List of Abbreviation ix
Chapter - 1 Introduction
1.1. Origin of the Paper……………………………………………………... 1
1.2. Objectives of the Paper…………………………………………….. 1
1.3. Methodoly…………………………………………………………. 1
1.4. Scope of the Study………………………………………………… 4
1.5. Rationale of the Study……………………………………………… 4
1.6. Report Organization……………………………………………….. 5
1.7. Limitations…………………………………………………………… 5
References 38
Appendices 39
vii
LIST OF CHARTS AND TABLES
PARTICULARS Page
CHARTS
Charts No.
Chart 1 Market Share of Total Assets by Banks……………………………….. 12
Chart 2 Market Share of Total Deposits by Banks…………………………….. 13
Chart 3 ROA of all Banks in CY14…………………………………………………. 13
Chart 4 ROE of all Banks in CY14…………………………………………………. 14
Chart 5 The amount of Total Deposits…………………………………………. 16
Chart 6 Trend of Total Share of Deposits……………………………………… 17
Chart 7 The Amount of Total Assets………………………………………….. 17
Chart 8 Trend of Market Share of total Assets…………………………………. 18
Chart 9 Net Interest Income…………………………………………………….. 19
Chart 10 Net Income……………………………………………………………… 19
Chart 11 Trend of ROA………………………………………………………….. 20
Chart 12 Trend of ROE………………………………………………………….. 20
Chart 13 Number of Branches…………………………………………………… 21
Chart 14 Trend of Market Share of Branches…………………………..…………. 22
Chart 15 Number of Total Employees……………………………………………….. 22
TABLES
Tables No.
Table 1 Name of the Banks, Their Categories and Numbers…………………….. 11
Table 2 Position, Performance and Market Sizes of the Banks…………………... 12
Table 3 Correlation Analysis……………………………………………………... 19
viii
LIST OF ABBREVIATIONS
ANOVA Analysis of Variance
BD Bangladesh
BB Bangladesh Bank
CY Calendar Year
DFIs Developmen Finacial Institutions/Specialized Banks
FCBs Foreign Commercial Banks
IBs Islamic Banks
PCBs Private Commercial Banks
SCBs State-Owned Commercial Banks
ix
CHAPTER CONTENTS
O RIGI N OF TH E P AP ER
O BJ EC TIVE S OF TH E P AP ER
CHAPTER - 1
M ETH ODO LOGY
SCOPE OF THE S TU DY
L IMI TAT IO NS
INTRODUCTION
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 1
prepared as a requirement of thesis paper under the regular MBA program of department of
Banking and Insurance, Faculty of Business Studies, University of Dhaka. The report aimed
Commercial Banks (PCBs), Foreign Commercial Banks (FCBs) and Islamic Banks (IBs).
The report was completed under the supervision of our honourable Professor Dr. Md. Rafiqul
Dhaka.
private, foreign and Islamic banks of Bangladesh. The key objectives of the study are:
ii. To analyze whether there is any difference regarding the performances of the banks
iv. To understand how the net interest income of the banks are affected by their deposits
1.3. METHODOLOGY
The research methodology of the selected topic follows in these dimensions:
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 1
ii. Monthly, quarterly and yearly journals and reports published by Bangladesh Bank
iii. Survey Reports published by Bangladesh Bureau of Statistics and Bangladesh Bank
were arranged orderly and analysed. Bar chart, line chart and pie chart have been used for
graphical representation for performance evaluation. Some statistical tests have been used
according to the nature and objectives of the study for the comparison between the groups.
The collected information is analyzed by ANOVA test and regression model. The
conclusions have been drawn on the basis of 5% level of significance. ANOVA test and
multiple regression test were performed with the help of Microsoft Excel 2007.
1.3.5. VARIABLES
To analyze the financial performance of banking sector different variables are included in this
Deposits
Total Assets
Net Income
Return on Assets
Return on Equity
Branch Expansion
Employment Generation
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 1
1.3.6. HYPOTHESES
The broader hypotheses are as under:
a) HO= There is no significant difference in total deposits among all the three banking
H1= There is significant difference in total deposits among all the three banking
b) HO= There is no significant difference in total assets among all the three banking
H1= There is significant difference in total assets among all the three banking groups
c) HO= There is no significant difference in net interest income among all the three
H1= There is significant difference in net interest income among all the three banking
d) HO= There is no significant difference in net income among all the three banking
H1= There is significant difference in net income among all the three banking groups
e) HO= There is no significant difference in return on assets among all the three banking
H1= There is significant difference in return on assets among all the three banking
f) HO= There is no significant difference in return on equity among all the three banking
H1= There is significant difference in return on equity among all the three banking
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 1
g) HO= There is no significant difference regarding branch expansion among all three
H1= There is significant difference regarding branch expansion among all the three
H1= There is significant difference regarding employement generation among all three
banking groups.
i) HO= Deposits of PCBs, FCBs and IBs have no significant relationship with Net
Interest Income.
H1= Deposits of PCBs, FCBs and IBs have significant relationship with net interest
income.
j. HO= The number of branches of PCBs, FCBs and IBs has no significant relationship
H2= The number of branches of PCBs, FCBs and IBs has significant relationship with
commercial banks of Bangladesh. Due to lack of time the non-scheduled banks, the SCBs and
the DFIs of Bangladesh are not included in the population of the study and hence their
Bangladesh: A Comparative Scenario of Private, Foreign and Islamic Banks” will be helpful
especially for the students of banking in many ways. The benefits of the report are that
PAGE 4
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 1
Which banks are better than whom and for which reasons
These types of information gathered in the process of making the report will be helpful in
corporate life and most probably this is why the thesis paper has been assigned to the
researcher.
• The Introductory part • Literature Review • Industry Overview • Analysis and • Findings and
and Research Gap Interpretation Recommendations
Literature Review and Research Gap deals with the results of the previously conducted
studies in the similar area. Industry Overview depicts the current banking structure of
Bangladesh in brief. Anlysis and Interpretation is all about data analysis and interpretation.
Finally Findings and Recommendation presents the results of the studies along with their
corresponding suggestions.
1.7. LIMITATIONS
While preparing the research paper, some difficulties had to be faced:
the data of IBs are included in those of private commercial banks and hence cannot be
separated. For this reason the paper addresses the timeline of 2008-2014 of all of the three
banking groups.
PAGE 5
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 1
PAGE 6
CHAPTER - 2
CHAPTER CONTENTS
R ESEA RC H G AP
certain time period. There is a few research works on the evaluation of the comparative
performances among the private commercial banks, foreign banks and Islamic banks of
Bangladesh. From different official journals as well as other reports from unofficial sources,
it was found that the performances of the three types of bank are different from each other.
The research works of Mahmud and Islam (2006), Islam and Ashrafuzzaman (2015), Sujan,
et al. (2013), Islam, Siddiqui, Hossain and Karim (2014) are worth mentioning and their
Mahmud and Islam (2006) tried to measure the comparative performances of four types of
Banks (SBs), Private Commercial Banks (PCBs), Foreign Commercial Banks (FCBs) and
Islamic Banks (IBs) operating in Bangladesh from period 2000 to 2005. They used some
soundness measures, and social profitability measures. The study found that, NCBs aggregate
deposits, market share of deposits, market share of advances, market share of total business
and total business were higher than any other types of bank during the years. On the other
hand the growth rate of deposits, the growth of the total investments, the growth rate of
advances, the growth rate of total business of Islamic Banks were the highest of all categories
of banks. The incomes of the PCBs and the IBs were relatively higher in the latest year than
any type of bank. That is, in terms of aggregate amount and share, the NCBs were doing well
Islam and Ashrafuzzaman (2015) evaluated the financial performance of Islamic and
conventional banks of Bangladesh through CAMEL test during the period of 2009 to 2013.
CAMEL test is a standard test to check the health of financial institutions and to determine
the performance of banks. A sample of five listed conventional banks and five listed Islamic
PAGE 7
Literature
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH
Review
banks were selected to study the objectives. The study found that, Islamic banks performed
better in case of capital adequacy, asset quality, earnings ability and liquidity position.
Conventional banks, on the other hand, were found to be more efficient in managing
operating expenses as its mean ratio is lower than Islamic banks ratio.
Sujan, et al. (2013) studied the performance of five conventional and five Islamic banks of
Bangladesh from period 2008 to 2012 on banks profitability and liquidity. T-test and F-test
have been used in determining the significance of the differential performance of the two
groups of bank. The study found difference on the profitability. But they found no significant
Safiullah (2010) focused on the financial performance analysis of both conventional and
islamic banks to measure superiority. The study indicated that financial performance viz.
community, efficiency and productivity of both types of banks is notable. The study found
that, conventional banks were doing better than Islamic banks. But performance of interest-
free Islamic banks in business development, profitability, liquidity and solvency was superior
to that of conventional banks. That is, comparatively Islamic banks were superior in financial
Islam, Siddiqui, Hossain and Karim (2014) studied the performance of the overall banking
sector of the country from period 2004 to 2011. They divided the whole banking sector into
(DFIs), Private Commercial Banks (PCBs) and Foreign Commercial Banks (FCBs) where
Islamic Banks were included in the PCBs. The study found that, in terms of Capital
Adequacy Ratio (CAR), NPL to total Loan ratio and Return on Assets, the FCBs ranked first.
The SCBs on the other hand performed better in case of Expenditure-Income Ratio and
PAGE 8
Literature
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH
Review
Conventional Banks and Islamic Banks in Bangladesh with Special Reference to Islami Bank
Bangladesh Limited” paper attempted to measure the comparative performances among the
four types of conventional banks and Islamic Banks operating in Bangladesh from period
2000 to 2005. But this new research will address the data from 2008 to 2014. The result of
this research may vary from that of old research because of using newer data. This may
represent the more realistic scenario due to the changes of different macroeconomic variables
Islamic and conventional banks of Bangladesh solely through CAMEL test. This new
research will address various financial key variables. Also the researchers used a sample of
five listed conventional banks and five listed Islamic banks only. In this new research, the
group performance of all of the banks under the three categories (the PCBs, the FCBs and the
IBs) will be evaluated. In short, the newer research will deal with population, not with
samples.
Sujan, et al. (2013) studied the performance of only five conventional and five Islamic banks
of Bangladesh from period 2008 to 2012. This newer research will focus on the categorical
Islam, Siddiqui, Hossain and Karim (2014) in their “Performance Evaluation of the Banking
Sector in Bangladesh: A Comparative Analysis” paper studied the performance of the overall
banking sector of the country from period 2004 to 2011. They divided the whole banking
sector into four categories where Islamic Banks were included in the PCBs. They did not
analyze the performance of the IBs of the country separately. This newer research will
PAGE 9
CHAPTER CONTENTS
T H E C UR RE NT B A NK ING
CHAPTER - 3
S EC TOR IN B A NGLA DE SH
INDUSTRY OVERVIEW
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 3
objectives, commitment and motto. The industry is composed of 6 types of banks; Cenral
Bank, State owned Commercial Banks (SCBs), Specialized banks (DFIs), Foreign
Commercial Banks (FCBs), Private Commercial Banks (PCBs) and Islamic Banks (IBs).
According to the latest schedule published by Bangladesh Bank in 2016, there are 56
scheduled banks are running in the country - 6 SCBs, 2 DFIs, 29 PCBs, 9 FCBs and 8 IBs.
Different types of banks give priority to different stakeholders. While the private sector banks
are guided primarily by profit motive, SCBs are committed to social and economic
considerations. Among private banks, islamic banks are different as they operate beyond the
narrow scope of commercial motive. Table 1 shows the names of the Banks along with their
Number of the
Categories of the Banks Name of the Banks
Banks
1. Agrani Bank Limited.
2. Janata Bank Limited
3. Rupali Bank Limited
6
State Owned 4. Sonali Bank Limited
Commercial Banks 5. BASIC Bank Limited
6. BDBL
Specialised Banks 1. Bangladesh Krishi Bank.
2
(DFIs) 2. Rajshahi Krishi Unnayan Bank.
1. Standard Chartered Bank
2. State Bank of India
3. Habib Bank Limited
4. Citi Bank, N/A.
5. Commercial Bank of Ceylon Limited
Foreign Banks 9
6. National Bank of Pakistan
7. Woori Bank
8. The Hong Kong & Shanghai Banking
Corporation Limited
9. Bank Al-Falah Limited
1. AB Bank Limited
2. Bangladesh Commerce Bank Limited
Local Commercial
32 3. Bank Asia Limited
Banks
4. BRAC Bank Limited
5. Dhaka Bank Limited
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 3
Bangladesh in 2014. It is found that the five SCBs in the country have 3553 branches, which
is the highest among the bank types. Currently thirty one PCBs are operating in the country
but they have 3074 branches which is less than the SCBs. However, PCBs occupy 45.45% of
the total industry assets despite having less number of bank branches than SCBs. SCBs have
only 27.53% of industry assets which is almost half of the PCBs. Three DFIs have 1500 bank
PAGE 11
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 3
branches which is quite significant in number but they have the least percentage of market
share (3.65%) in the industry assets. Nine FCBs have only 70 bank branches which is the
least among the types of bank but they own almost six percentages (5.52%) of the total
industry assets. Eight Islamic Banks, on the other hand, own 17.85% of the total market asset
in CY2014.
Chart 1 shown below exhibits that the PCBs are currently dominating in terms of market
share of total assets despite having fewer branches than the SCBs. They have occupied the
highest place (45%) in terms of market share and the DFIs occupy the lowest (4%) of that.
IBs
18% SCBs
FCBs 28%
5%
DFIs
PCBs
4%
45%
PAGE 12
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 3
Chart 2 shown reveals that the PCBs own the maximum amount of deposits (45%) of the
market than that of any other banks in the country. The SCBs stand second (28%) in taking
deposits, the IBs are in the third place (19%), the FCBs are in the fourth place (5%) and the
IBs
19% SCBs
FCBs 28%
5%
DFIs
PCBs
3%
45%
Chart 3 shows the return on assets of all the scheduled banks in CY14. It is noticed that the
return on asset of the FCBs is higher than that of any other commercial banks but the DFIs
and the SCBs incur the negative ROA. The PCBs stand second in terms of the return on
3.40
1.00 0.80
Chart 4 that has been shown below depicts that the FCBs are in the first place in terms
earning the return on equity, the PCBs are in the second place and the IBs are in the third
PAGE 13
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 3
place. The ROE ratio of the SCBs and the DFIs were negative and as a result they are the
-13.60
PAGE 14
CHAPTER CONTENTS
CHAPTER - 4
TRE ND A NAL YS IS
H YPOTH ESE S T E ST IN G
ANALYSIS AND
INTERPRETATION
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Performance
Measures Operational Definition
Dimensions
Total Business Total Deposit+Total Advances
Total Deposits Time Deposit+Demand Deposit
General Business Total Advances
Measure Total Assets
Advance-Deposit ratio Advance/Deposit
Total Income
In this study, the researcher used total deposits and total assets under General Business
Measure to give a brief idea about the positions of the banks. The researcher also used return
on assets, return on rquity, net income and net interest/profit income under Profitability and
finally branch expansion and employment generation under Social profitability to make a
comparative analysis about the performance of the three banking groups from 2008 to 2014.
foundation upon which banks stand and grow, as they do business not with their own money
but with others’. The ability of a bank to attract deposits from individual and businesses is an
important measure of the bank’s acceptance by the public. Total assets, on the other hand, are
1
Abdullah Al Mahmud and M. Muzahidul Islam, A Comparative Study on Performance Evaluation of Conventional Banks
and Islamic Banks in Bangladesh with Special Reference to Islami Bank Bangladesh Limited, Thoughts on Economics, Vol. 18,
No. 05, University of Dhaka
PAGE 15
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
the principal source of income of a bank that ensures the viability and sustainability of the
bank. Growth of income is nothing but the outcome of a bank’s basic operations.
Total Deposits
3500
3000
2500
Billion TK
2000
1500
1000
500
0
2008 2009 2010 2011 2012 2013 2014
PCBs 1063.6 1301.4 1350.6 1729.8 2469.5 2821.4 3099.7
FCBs 214.1 215 230.68 247.3 327 359.5 326
IBs 387.1 491 617.12 776.1 961.2 1117.9 1349.7
Chart 5: The amount of total deposits. (Source: Bangladesh Bank Annual Report, 2008-2015)
Chart 5 shows a steady growth of the total deposit of the IBs, FCBs and PCBs. The total
deposits of Islamic banks were 387.1 billion in 2008 that increased to 1349.7 billion in 2014,
showing a growth of almost 249% within seven years. On the other hand, the total deposit of
PCBs increased to 3099.7 billion in 2014, showing a growth rate of almost 191%. But as
FCBs are fewer in number as well as in branches, total deposits of FCBs did not increase
significantly.
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Chart 6: Trend of total share of deposits (%). (Source: Bangladesh Bank Annual Report, 2008-2015)
Chart 6 indicates that the market share trend of deposit by the FCBs has been decreasing over
the years. It came down from 12.86% in 2008 to 6.83% in 2014. Market share of deposit by
the PCBs were down in 2010, but increased in 2011. On the other hand, during the same
period the market share of the IBs went up from 23.25% in 2008 to 28.26% in 2014, showing
an upward slope.
Total Asset
5000
4000
3000
Billion
2000
1000
0
2008 2009 2010 2011 2012 2013 2014
PCBs 1330 1699.7 1877.7 2282.2 3190 3589.2 4355.1
FCBs 265.8 292.6 308.7 344.2 441.8 488.7 505
IBs 464.5 576 733.57 923.2 1181.5 1359 1432
Chart 7: The amount of total assets. (Source: Bangladesh Bank Annual Reports, 2008-2015)
Chart 7 shows a significant growth of the total assets of the PCBs and the IBs. The aggregate
assets of all Islamic banks were 464.5 billion in 2008 that increased to 1432 billion in 2014
showing a significant increase within a short span of seven years. During the same period the
PAGE 17
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
aggregate deposits of the PCBs increased to 4355.1 billion from 1330 billion. But the assets
30.00
20.00
10.00
0.00
2008 2009 2010 2011 2012 2013 2014
PCB 64.55 66.18 64.31 64.29 66.27 66.02 69.22
FCB 12.90 11.39 10.57 9.70 9.18 8.99 8.03
IB 22.55 22.43 25.12 26.01 24.55 25.00 22.76
Chart 8: Trend of market share of total assets (%). (Source: Bangladesh Bank Annual Reports, 2008-2015)
Chart 8 indicates that trend of the market share of total assets by the FCBs has been
decreasing over the last four years. It came down from 12.90% in 2008 to 8.03% in 2014. But
during the period PCBs grabbed the market share of deposit quite significantly from 64.55%
in 2008 to 69.22% in 2014. This trend does not show any consistancy in case of the IBs – the
in the enterprise and also managerial efficiency. Because of shortage of time the researcher
PAGE 18
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Chart 9: Net interest income. (Source: Bangladesh Bank Anual Reports, 2008-2015)
In Chart 9, we find that total interest income (profit income for the IBs) of PCBs, FCBs and
IBs are relatively higher in 2014. The net interest income of the FCBs fell down in 2011 but
they managed to recover it from the next year. On the other hand over the years the IBs kept
Net Income
60
50
40
Billions
30
20
10
0
2008 2009 2010
PCBs 23.19 33.77 48.67
FCBs 11.38 7.08 6.46
IBs 5.76 5.71 11.66
Chart 10: Net income. (Source: Bangladesh Bank Annual Reports, 2008-2015))
Chart 10 indicates that the trend of net profit of the IBs and the FCBs fall in 2009. Later, IBs
managed to increase their net profit to 11.66 billion in 2010 from 5.71 billion, but FCBs
showed a decline in the trend of net profit; from 11.38 billion to 6.46 billion. On the other
PAGE 19
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
hand, the profit trend of the PCBs always shows an upward slope. Their profit increased
Return on Asset
4
3.5
3
2.5
Ratio
2
1.5
1
0.5
0
2008 2009 2010 2011 2012 2013 2014
PCBs 1.4 1.6 2.1 1.6 0.9 1 1
FCBs 2.9 3.2 2.9 3.6 3.3 3 3.4
IBs 1.24 0.99 1.59 1 1.1 0.89 0.8
Chart 11: The trend of ROA. (Source: Bangladesh Bank Annual Reports, 2008-2015)
Chart 11 shows that the FCBs have a very significant high return on assets during last seven
CY than any other banks have. It stays always at the top in respect of ROA. Then the PCBs
come. The ratio of the PCBs and the IBs fluctuates very much over the time. From CY12 to
CY14 this ratio both of the PCBs and the IBs are almost same and are heading towards the
same direction.
ROE
25
20
Ratio
15
10
5
0
2008 2009 2010 2011 2012 2013 2014
PCBs 16.4 21 20.9 15.6 10.2 9.8 10.3
FCBs 17.8 22.4 17 20.2 17.3 16.9 17.7
IBs 21.46 15.32 21.33 14.46 16.8 11.71 11.5
Chart 12: Trend of ROE. (Source: Bangladesh Bank Annual Reports, 2008-2015)
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Chart 12 indicates a severe fluctuation in the trend of return of equity. It is very difficult to
say which bank stays at the top in respect of return on equity. There is no consistency in the
trends.
expansion of branches etc. are the key indicators of social profitability measures.
2000
1500
1000
500
0
2008 2009 2010 2011 2012 2013 2014
PCBs 1724 1784 1840 2290 2589 2800 3074
FCBs 56 58 59 74 65 69 70
IBs 358 501 587 622 750 802 843
Chart 13: The number of total branches. (Source: Bangladesh Bank Annual Reports, 2008-2015)
Chart 13 shows that the numbers of Branches of the PCBs, FCBs and IBs have an increasing
trend. PCBs occupy the maximum number of branches among the three types of Banks. On
the other hand, FCBs occupy the least number of branches. Despite being similar to the FCBs
regarding the number of banks, the IBs hold more branches than those of the FCBs.
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Chart 14: Trend of the market share of branches. (Source: Bangladesh Bank Annual Reports, 2008-2015))
Chart 14 indicates that, although the PCBs own the highest percentage of branches in the
market, the IBs have the maximum growth rate of branch expansion. The percentage of the
Share of brranches by the IBs increases almost 26% during the last seven CY, while that of
the PCBs and the FCBs increased -4.38% and -32% respectively.
Total Employment
30000
25000
20000
Number
15000
10000
5000
0
2000 2001 2002 2003 2004 2005
PCBs 22072 23521 23279 25980 26640 20367
FCBs 1280 1588 1305 1409 1508 1776
IBs 3903 4547 5057 6596 7440 7907
Chart 15: The number of total employment by the banks. (Source: Bangladesh Bank Annual Reports, 2008-2015)
Chart 15 shows a declining trend in the number of employees of the PCBs over the period
under study. The FCBs have an increase in the number of employment during 2000 to 2005
by 39% while the IBs got the highest increase of employment (51%) during the same period.
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
4.2.1. DEPOSITS
The researcher wanted to find out that if there is any significant difference regarding the
performance related to deposits among all the three banking groups during 2008 to 2014 or
Null Hypothesis
There is no significant difference in total deposits among all three banking groups during
2008 to 2014.
H0 = µ1 = µ2 = µ3
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS Df MS F P-value F crit
Between Groups 10594690.38 2.00 5297345.19 20.24 0.00 3.55
Within Groups 4710415.29 18.00 261689.74
The above ANOVA table indicates that the calculated value of F is 20.24, which is more than
the table value of 3.55 at 5% level of significance. Hence, the null hypothesis is rejected. It
means that there is a significant difference in total deposits among all the three banking
groups.
performance related to total assets among all the three banking groups during 2008 to 2014 or
Null Hypothesis
There is no significant difference in total assets among all the three banking groups during
2008 to 2014.
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
H0 = µ1 = µ2 = µ3
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 18941642.77 2.00 9470821.38 20.33 0.00 3.55
Within Groups 8385522.46 18.00 465862.36
The above ANOVA table indicates that the calculated value of F is 20.33, which is more than
the table value of 3.55 at 5% level of significance. Hence, the null hypothesis is rejected. It
means that there is a significant difference in total assets among all the three banking groups.
performance related to net interest income (profit income for the IBs) among all the three
banking groups during 2008 to 2014 or not. This was tested as under:
Null Hypothesis
There is no significant difference in net interest income (profit income) among all the three
H0 = µ1 = µ2 = µ3
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 30566.38 2.00 15283.19 9.93 0.00 3.55
Within Groups 27704.35 18.00 1539.13
The above ANOVA table indicates that the calculated value of F is 9.93, which is more than
the table value of 3.55 at 5% level of significance. Hence, the null hypothesis is rejected. It
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
means that there is a significant difference in net interest income among all the three banking
groups.
performance related to net income among all the three banking groups during 2008 to 2010 or
Null Hypothesis
There is no significant difference in net income among all the three banking groups during
2008 to 2010.
H0 = µ1 = µ2 = µ3
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 1480.40 2.00 740.20 12.15 0.01 5.14
Within Groups 365.49 6.00 60.92
The above ANOVA table indicates that the calculated value of F is 12.15, which is more than
the table value of 5.14 at 5% level of significance. Hence, the null hypothesis is rejected. It
means that there is a significant difference in net income among all the three banking groups.
performance related to return on asset among all the three banking groups during 2008 to
Null Hypothesis
There is no significant difference in ROA ratio among all the three banking groups during
2008 to 2014.
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
H0 = µ1 = µ2 = µ3
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS Df MS F P-value F crit
Between Groups 18.15 2.00 9.07 82.58 0.00 3.55
Within Groups 1.98 18.00 0.11
the table value of 3.55 at 5% level of significance. Hence, the null hypothesis is rejected. It
means that there is a significant difference in ROA ratio among all the three banking groups.
performance related to return on equity among all the three banking groups during 2008 to
Null Hypothesis
There is no significant difference in ROE ratio among all the three banking groups during
2008 to 2014.
H0 = µ1 = µ2 = µ3
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 46.66 2.00 23.33 1.55 0.24 3.55
Within Groups 270.98 18.00 15.05
The above ANOVA table indicates that the calculated value of F is 1.55, which is less than
the table value of 3.55 at 5% level of significance. Hence, the null hypothesis is cannot be
rejected. It means that there is no significant difference in ROE ratio among all the three
banking groups.
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
performance related to branch expansion among all the three banking groups during 2008 to
Null Hypothesis
There is no significant difference regarding branch expansion among all the three banking
H0 = µ1 = µ2 = µ3
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 18879128.00 2.00 9439564.00 88.31 0.00 3.55
Within Groups 1924104.29 18.00 106894.68
The above ANOVA table indicates that the calculated value of F is 88.31, which is more than
the table value of 3.55 at 5% level of significance. Hence, the null hypothesis is rejected. It
means that there is a significant difference regarding branch expansion among all the three
performance related to employment generation among all the three banking groups or not.
Null Hypothesis
There is no significant difference regarding employement generation among all three banking
groups.
H0 = µ1 = µ2 = µ3
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
H1 = µ1 ≠ µ2 ≠ µ3
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 1650929021.44 2.00 825464510.72 299.23 0.00 3.68
Within Groups 41379787.50 15.00 2758652.50
The above ANOVA table indicates that the calculated value of F is 299.23, which is more
than the table value of 3.68 at 5% level of significance. Hence, the null hypothesis is rejected.
It means that there is a significant difference regarding employment generation among all the
4.3.1. VARIABLES
i. Dependent Variable. A dependent variable is the variable that gets changes due to the
ii. Independent Variable(s). An independent variable is the variable that brings changes
The researcher wanted to analyze the determinants of net interest income of the three banking
groups. For this analysis, three variables are included in this study. One of them is the
dependent and the others are as explanatory or independent variables. The variables are as
follow:
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Net Interest Income is the difference between interest earned on loans and advances minus
interest paid on deposits. Deposits are considered as banks’ main source of funding and are
the lowest cost of funds. The more deposits are transformed into loans, the higher the interest
income and profit. Hence, deposits generally have positive impact on net inerest income.
But if a bank cannot transform its deposits into loans efficiently it may bring negative impact
on net interest income also. The banking business expands by the establishment of branches.
Y1 = a+b1X1+b2X2
a = constant term
Hypothesis H1a: Deposits of PCBs, FCBs and IBs have a significant relationship with Net
Interest Income.
Hypothesis H2a: The Number of Branches of PCBs, FCBs and IBs has a significant
Regression Statistics
Multiple R 0.91
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
R Square 0.84
Adjusted R Square 0.75
Standard Error 26.15
Observations 7.00
ANOVA
Df SS MS F Significance F
Regression 2.00 13867.78 6933.89 10.14 0.03
Residual 4.00 2735.28 683.82
Total 6.00 16603.06
Multiple R represents the degree of correlation between the dependent and the independent
variables. For this regression model the value is 0.91. It means that the degree of correlation
between net interest income and deposits and the number of branches of the PCBs is positive
R Square measures the variance in dependent variable that can be explained by the variance
of the independent variables. The value for this regression model is 0.84, meaning that 84%
variance in net interest income of PCBs can be explained by the variance of deposits and the
The closer the value of Adjusted R Square to 1, the fewer the independent variables are
needed. The value of adjusted R square for this regression model is 0.75, meaning that the
researcher can include some other independent variables for the proper explanation of the
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
model. As there are only two independent variables in the model, it is assumed that the
inclusion of other independent variables can make the model more predictory.
The multiple regression model that can be produced from the results is as follows:
NII = -119.59-0.01Deposit+0.11Branch
The slope of deposit is -0.01 in this model. That means one unit increase in deposits of the
PCBs will decrease 1% net interest income, if other things remain the same. On the other
hand the slope of the number of branches is 0.11. That means per unit increase in the number
of branches of the PCBs will increase 11% net interest income, if other things remain the
same. Since the F Value is greater than that of Significance F Value (10.14 > 0.03), we
reject the null hypothesis and accept Hypothesis H1a and H2a that deposits and the number
of branches of the PCBs have a significant relationship with Net Interest Income.
Regression Statistics
Multiple R 0.73
R Square 0.53
Adjusted R Square 0.30
Standard Error 5.16
Observations 7.00
ANOVA
Df SS MS F Significance F
Regression 2.00 121.36 60.68 2.28 0.22
Residual 4.00 106.40 26.60
Total 6.00 227.76
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Multiple R represents the degree of correlation between the dependent and the independent
variables. For this regression model the value is 0.73. It means that the degree of correlation
between net interest income and deposits and the number of branches of the FCBs is positive
R Square measures the variance in dependent variable that can be explained by the variance
of the independent variables. The value for this regression model is 0.53, meaning that 53%
variance in net interest income of the FCBs can be explained by the variance of deposits and
The closer the value of Adjusted R Square to 1, the fewer the independent variables are
needed. The value of adjusted R square for this regression model is 0.30, meaning that the
researcher can include some other independent variables for the proper explanation of the
model. As there are only two independent variables in the model, it is assumed that the
inclusion of other independent variables can make the model more predictory.
The multiple regression model that can be produced from the results is as follows:
NII = 7.34+0.09Deposit-0.25Branch
The slope of deposit is 0.09 in this model. That means one unit increase in deposits of the
FCBs will increase 9% net interest income, if other things remain the same. On the other
hand the slope of the number of branches is -0.25. That means per unit increase in the number
of branches of the FCBs will decrease 25% net interest income, if other things remain the
same. Since the F Value is greater than that of Significance F Value (2.28 > 0.22), we reject
the null hypothesis and accept Hypothesis H1a and H2a that deposits and the number of
branches of the FCBs have a significant relationship with Net Interest Income.
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
Regression Statistics
Multiple R 0.98
R Square 0.97
Adjusted R Square 0.95
Standard Error 9.66
Observations 7.00
ANOVA
Df SS MS F Significance F
Regression 2.00 10500.31 5250.16 56.27 0.00
Residual 4.00 373.23 93.31
Total 6.00 10873.54
Multiple R represents the degree of correlation between the dependent and the independent
variables. For this regression model the value is 0.98. It means that the degree of correlation
between net interest income and deposits and the number of branches of the IBs is positive
R Square measures the variance in dependent variable that can be explained by the variance
of the independent variables. The value for this regression model is 0.97, meaning that 97%
variance in net interest income of the IBs can be explained by the variance of deposits and the
The closer the value of Adjusted R Square to 1, the fewer the independent variables are
needed. The value of adjusted R square for this regression model is 0.95, meaning that the
researcher can include some other independent variables for the proper explanation of the
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 4
model. As there are only two independent variables in the model, it is assumed that the
inclusion of other independent variables can make the model more predictory.
The multiple regression model that can be produced from the results is as follows:
NII = -17.25+0.11Deposits+0.33Branch
The slope of deposit is 0.11 in this model. That means one unit increase in deposits of the IBs
will increase 11% net profit income, if other things remain the same. On the other hand the
slope of the number of branches is 0.33. That means, per unit increase in the number of
branches of the IBs will increase 33% net profit income, if other things remain the same.
Since the F Value is greater than that of Significance F Value (56.27 > 0.00), we reject the
null hypothesis and accept Hypothesis H1a and H2a that deposits and the number of
branches of the IBs have a significant relationship with Net Profit Income.
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CHAPTER - 5
CHAPTER CONTENTS
F IN D ING S
R EC OMM E ND ATI ON S
FINDINGS AND
RECOMMENDATIONS
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 5
every cases. But this sector is facing a great competition by the IBs of the country. Despite
being fewer in number, the IBs have the ability to surpass the PCBs in near future. Based on
the overall study the findings found are presented below along with their corresponding
recommendations:
Findnig No. 1: The country’s banking sector is composed of six types of banks – one is the
central bank and the rest of them are different kinds of commercial banks. The commercial
banks are divided into five categories – Specialized Commercial Banks (DFIs), State Owned
Commercial Banks (SCBs), Private Commercial Banks (PCBs), Foreign Commercial Banks
(FCBs) and Islamic Commercial Banks (IBs). Currently they are fifty six in number. Six of
these the SCBs, two of these are the DFIs, twenty nine of these are the PCBs, nine of these
are the FCBs and eight of these are the IBs. The total number of the branches of the banks is
9131.
Recommendation No. 1: The number of classical banks in the world has reduced. In the
majority of countries the number of banks does not exceed 200. Many researchers drew the
conclusions of the economic theory about the optimum structure of the banking market. The
empirical analysis shows that the number of banks in a country is influenced by the size of its
territory, population number and GDP per capita. What should be the optimum banking
structure in Bangladesh is subject to a different study and the researcher highly recommends
Objective No. 2: To analyze whether there is any difference regarding the performances of
the three banking groups of Bangladesh on the basis of some selected tools
Findnig No. 2: Acording to the results produced by ANOVA test at 5% confidence level it
was found that the performances of the three banking groups are significantly different from
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 5
each other in case of deposits, total assets, net interest income, net income, return on assets,
number of branches and employment generation. However the performance of the banks in
case of return on equity is not significantly different from each other. That means, no bank is
much profit a company generates with each money of shareholders. The higher the ratio is the
better the company performs. It is the tool that the three banking groups have to differentiate
themselves from each other. Banks who want to improve the ratio must focus on the balanced
use of equity in their capital structure. More equity given some same returns results in lower
return on equity ratio. Lower returns given some same amount of equity also results in lower
Findnig No. 3: In terms of volume and the market share of deposits and assets, the PCBs
rank first. In terms of the growth of deposits and assets, the IBs rank first. In terms of volume
of net interest income the PCBs rank first followed by the IBs. The FCBs on the other hand
are the best in terms of return on assets ratio – they are always at the top in this area. It means
that they are very much efficient in utilizing their assets in order to earn the maximum return.
But no bank is better in terms of return on equity ratio. The PCBs have the maximum number
of branches in the country with an upwarding slope; followed by the IBs. Despite being
similar to the IBs in size the FCBs have very few branches comparatively. The PCBs
Recommendation No. 3: Although the number of the FCBs and the IBs are almost same,
the FCBs always lag behind the IBs except in the case of return on assets. The FCBs must
come forward with the concept of financial inclusion to achieve more market share. Given
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Chapter - 5
that no banking group is better in case of return on equity, the banks must focus on the use of
Objective No. 4: To understand how the net interest income of the banks are affected by
Findnig No. 4: The researcher wanted to find found if the net interest income of the banks
can be predicted or not if deposits and the number of branches are already known. The null
hypotheses were rejected and it has been found that deposits and the number of branches are
significantly related with net interest income for every banking group. Deposits are
negatively correlated with net interest income for the PCBs, meaning that they cannot
transform their deposits into loans efficiently, alothough branch expansion is positively
correlated and the explanatory power of the model is very strong (R 0.91, R Square 0.84).
Branch expansion on the other hand is negatively correlated with net interest income for the
FCBs, meaning that they cannot earn net interest income solely by the expansion of branches
and the correlation is moderate to strong (R 0.73 and R Square 0.53). Net Profit income is
positively related with deposits and the number of branches for the IBs and the correlation is
Recommendation No. 4: The PCBs must be efficient enough in order to grab the market for
giving loan since they cannot use their deposits efficiently for converting into loans. The
FCBs must not increase their branches as long as they find out the reason for not increasing
net interest income in response to their branch expansion. This is possibly why they do not
PAGE 37
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH References
References:
Special Reference to Islami Bank Bangladesh Limited”, Thoughts on Economics, Vol. 18,
Islam, Ul, Tanzim, Md., and Ashrafuzzaman, Mohammad (2015). “A Comparative Study of
Islam, Ariful, Md., Siddiqui, Hasan, Mahmudul and Hossain, Fahim, Kh., (2014).
Business and Economic Research, Macrothink Institute, ISSN 2162-4860, 2014, Vol. 4, No.1
PAGE 38
A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Appendices
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A STUDY ON PERFORMANCE EVALUATION OF THE COMMERCIAL BANKS IN BANGLADESH Appendices
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