Abstract:
To survive and succeed in competitive business environment, attracting
new customers and retaining existing customers have no alternatives to a financial
institution. And, in search of competitive advantages, companies are placing more
and more focus on service quality. It has been observed from different researches
that service quality contributes to the profitability and productivity of an
organization significantly. Service companies like financial institutions can maintain
successful relationship with customers if they can maintain quality of services
expected by customers and keep the gap between expectation and perception of
services minimal. The present study is undertaken to evaluate service quality of a
leading private commercial bank in Bangladesh and measure the gap between
expectation and perception of customers about financial services offered by it. To
measure the quality, SERVQUAL model has been used as a tool with five different
dimensions and twenty two statements. A survey has been conducted to evaluate
quality and measure the gap of service quality. The management of the bank can get
the insights of their service quality based on the scores of different dimensions and
may take necessary measures to overcome the weak areas. The study reveals that
there are gaps in every dimension of quality of services provided by the bank and the
notable gaps lie with assurance, reliability and responsiveness of service quality. So,
the bank should take necessary measures immediately in these specific dimensions to
enhance quality of services for its sustainability
