Business strategy for Silk Bank super saver deposit account
Master of Business Administration
Faculty / School
Faculty of Business Administration (FBA)
Dr. Nasir Afghan, Asad Ilyas
Project Coordinator (Internal)
Dr. Nasir Afghan, Asad Ilyas
Silk Bank Limited
MBA Research Project
Abstract / Summary
The objective of our MBA Project was to devise a business strategy for our client Silk bank Limited. Silk bank offers various products falling under three categories: Deposit Accounts, Consumer and Insurance products. The Deposit Accounts category is further divided into Current Accounts, Saving Accounts and Term Deposit Accounts. Super Saver, which is one of Silk bank's saving accounts, had been identified as a product with slower growth than the rest of the products at Silk bank. This became the statement of problem for our research; why is Super Saver Account not growing at the same pace as other products? We performed economic analysis using secondary data, marketing analysis using secondary data, current customer research analysis using primary research and to finally conclude with recommendations for business strategy for improving product and ways to implement it for faster growth of Super Saver leading to fast growth in Deposits for Silk bank. Economic Analysis - Secondary Data Economic Analysis of the past 5-10 years till 2011 reflects the conditions of the Pakistani economy as well as the overall banking industry. Pakistan has been facing tough challenges in the recent past (2007-2011) with limited GDP growth, weakened economic indicators and liquidity issues in the power sectors. These issues combined have created a large fiscal deficit which Pakistan needs to desperately work out. Overall banking sector has done quite well since the last two decades, driving the service sector very positively through innovation and accessibility. Currently only 16% of population has access to banking in Pakistan leaving 84% of the population still to be discovered by the banks. With new product offerings and increasing branch networks in the recent history, banks are ever expanding with new banks entering the Industry every 2 to 3 years. Only due to the recent Non-Performing Loans issues, banks have relenting on increasing the consumer banking in Pakistan. Savings has also been a major concern in the Pakistani economy, where almost 86% of income earned is consumed, leaving on 14% of the income to be saved. Thus project was analyzed to reflect whether the economic conditions are hampering the growth of Silk bank.
Mahboob, E., Rabbani, F., Khan, H., Amjad, M. A., & Haq, S. u. (2012). Business strategy for Silk Bank super saver deposit account (Unpublished graduate research project). Institute of Business Administration, Pakistan. Retrieved from https://ir.iba.edu.pk/research-projects-mba/35
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