Complaints against banks soar with Sonali, BRAC leading chart - Share market analysis of dhaka stock exchange, Bangladesh

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08 February, 2017 10:08 AM Source: New Age

Complaints filed by clients with Bangladesh Bank against scheduled banks and non-bank financial institutions swelled in the last financial year with Sonali Bank and BRAC Bank topping the chart.
A Bangladesh Bank report released on Tuesday showed that financial integrity and customer services department, a wing of the central bank, received as many as 4,530 complaints against the banks and NBFIs in the FY16. The figure was 3,930 in the FY15, 4,476 in the FY14 and 4,296 in the FY13.
Clients filed the allegations about the general banking (20.78 per cent), loans and advances (17.89 per cent), foreign trade bills for LCs (13.61 per cent), local trade bills for LCs (9.51 per cent) debit and credit cards (7.27 per cent), bank guarantee (5.13 per cent), remittance (2.66 per cent), mobile banking (2.61 per cent) and miscellaneous (20.55 per cent).
BB governor Fazle Kabir, while unveiling the report at the central bank headquarters in the capital, said the banks would have to avoid receiving such allegations of the clients as they deposited their money with the banks on the basis of trust.
‘Banks are highly service-related organisations. Some sufferer clients have described here how they faced problem to get services from the banks. The banks should take the allegations of the clients seriously,’ he said.
The private commercial banks are now facing the attitude problems of their employees while the clients of the state-owned banks are facing problems in getting desired services, Kabir said.
‘The banks should address the problems properly.’
The banks should organise training and workshop programmes for their employees so that they (employees) properly manage their clients, he said.
Kabir said, ‘Consumer Association of Bangladesh president Ghulam Rahman has said that the weighted average rate on deposit is now lower than the inflation rate. So, why will the clients deposit their money with the banks? We should think about the matter.’
The banks should manage profit from the clients by following ethics, he said quoting Rahman.
BB deputy governor Abu Hena Mohd Razee Hasan said that the whole banking sector usually faced image crisis for a few people.
The banks should be aware of keeping confidence of the clients by avoiding the fraudulent act, he said.
The BB report showed that the number of complaints against the private commercial banks was higher than that against the state-owned commercial banks as the number of the PCBs is more than that of the SCBs.
Clients lodged 58.70 per cent complaints against PCBs, 28.28 per cent against SCBs, 4.66 per cent against state-run specialised banks and 4.06 per cent against nine foreign commercial banks and 0.38 per cent against NRB banks in the FY16.
The BB received the highest number of complaints against Sonali Bank (563) and BRAC Bank (373) in the FY16.
The clients also lodged the highest complaints against the two banks in FY15 as Sonali Bank faced 256 complaints and BRAC Bank 175.
The other eight banks which faced significant number of complaints from clients are Agrani Bank, Islami Bank Bangladesh, Janata Bank, Dutch-Bangla Bank, Bangladesh Krishi Bank, Pubali Bank, Rupali Bank and Eastern Bank. 

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