An Investigation Into Customer Satisfaction at HSBC Bangladesh

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY:

HSBC is one of the largest banking and financial services organizations in the world.

Headquartered in London, HSBC has an international network comprised of over 9,800

offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas,

the Middle East and Africa. The bank’s 253,000 employees are located mainly in the UK

(56,000 employees), the US (43,000), Brazil (28,000), Hong Kong (26,000), Mexico

(20,000) and France (14,000). Admirably, HSBC acknowledges that it operates in

countries that present a range of social, ethical and environmental challenges. HSBC is

structured according to its consumer groups, providing a comprehensive range of

financial services, including: personal financial services; commercial banking; corporate,

investment banking and markets; private banking; and other activities. HSBC clearly

identifies its top priority as the financial return to its 200,000 shareholders. However, the

bank also states that, ‘our goal is not, and has never been, profit at any cost…tomorrow’s

success depends on the trust we build today.’ Thus, in HSBC customer satisfaction is

considered an important strategic objective to allow the bank to continue to be successful

in the long term.

A. BANKING INDUSTRY-OVERVIEW:

The Jews in Jerusalem introduced a kind of banking in the form of money lending

before the birth of Christ. The word 'bank' was probably derived from the word 'bench' as

during ancient time Jews used to do money -lending business sitting on long benches.

First modern banking was introduced in 1668 in Stockholm as 'Svingss Pis Bank' which

opened up a new era of banking activities throughout the European Mainland.

In the South Asian region, early banking system was introduced by the Afghan traders

popularly known as Kabuliwallas. Muslim businessmen from Kabul, Afghanistan came

Customer Satisfaction Level at HSBC Bangladesh: PAGE 1

to India and started money lending business in exchange of interest sometime in 1312

A.D. They were known as 'Kabuliwallas'.

B. NUMBER AND TYPES OF BANKS:

The number of banks in all now stands at 49 in Bangladesh. Out of the 49 banks, four are

Nationalized Commercial Banks (NCBs), 28 local private commercial banks, 12 foreign

banks and the rest five are Development Financial Institutions (DFIs).

Sonali Bank is the largest among the NCBs while Pubali is leading in the private

ones. Among the 12 foreign banks, Standard Chartered has become the largest in the

country. Besides the scheduled banks, Samabai (Cooperative) Bank, Ansar-VDP Bank,

Karmasansthan (Employment) Bank and Grameen bank are functioning in the financial

sector. The number of total branches of all scheduled banks is 6,038 as of June 2000. Of

the branches, 39.95 per cent (2,412) are located in the urban areas and 60.05 per cent

(3,626) in the rural areas. Of the branches NCBs hold 3,616, private commercial banks

1,214, foreign banks 31 and specialized banks 1,177.

Bangladesh Bank (BB) regulates and supervises the activities of all banks. The

BB is now carrying out a reform program to ensure quality services by the banks.

Currently the major financial institutions under the banking system include:

Bangladesh Bank

Commercial Banks

Islamic banks

Leasing Companies

Finance companies

Of these, there are four nationalized commercial banks (NCB), 5 specialized banks, 11

foreign banks, 26 domestic private banks, 4 Islamic banks currently operating in

Bangladesh.


Generally, the commercial banks and finance companies provide a myriad of

baI1king products/services to cater to the needs of their customers. However, the

Bangladeshi banking industry is characterized by the tight banking rules and regulation s

set by the Bangladeshi Bank, All banks and financial institutions are highly governed and

controlled under the Banking Companies Act-1993.

The range of banking products and financial services is also limited in scope; all local

banks must maintain a 4% Cash Reserve Requirement (CRR), which is non-interest

bearing and a 16% Secondary Liquidity Requirement (SLR). With the liberalization of

markets, competition among the banking products and financial services seems to be

growing more intense each day. In addition, the banking products offered in Bangladesh

are fairly homogeneous in nature due to the tight regulations imposed by the central bank.

Competing through differentiation is increasingly difficult and other banks quickly

duplicate any innovative banking service.


1.2 HSBC PROFILE:

A. HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC): HSBC

is one of the world’s leading, and most international, banks with 2.6 million Commercial

Banking customers in 62 locations. These customers include sole proprietors,

partnerships, clubs and associations, incorporated businesses and publicly quoted

companies. The globalization of their activities has been very marked in recent years, and

we are uniquely placed to help them through offering supply chain management, cash

management and business introductions all over the world. In 2006, pre-tax profit in

Commercial Banking grew strongly, by 21 per cent, due to growth in customer assets and

liabilities and our success in serving customers internationally.

B. HSBC in BANGLADESH: HSBC (Hong Kong and Shanghai Banking Corporation

Limited) obtained license from BANGLADESH BANK on 17 April 1996 to conduct banking

business in the country and commenced formal banking operations on 3 December 1996

through opening a branch at Dhaka. In Bangladesh, the HSBC Group is represented by

Hong Kong Bank, which has its head office in Hong Kong and a holding company,

HSBC Holding Plc, which is incorporated in England. On 31 December 2000, total

capital and reserves of HSBC in Bangladesh were Tk 535.7 million, which comprised

core capital Tk 441.6 million, and supplementary capital Tk 94.2 million.

Businesses of HSBC in Bangladesh cover personal banking, cash management,

remittances, corporate banking, trade services, custody services, and treasury and

securities services to the customers. It expanded its operations in the country through

opening a full-fledged branch at Chittagong, one off shore unit and two cash booths in

Dhaka. The management team for the bank in Bangladesh is headed by a chief executive

officer appointed by the head office. The bank's work force had increased from 38 in

1998 to 172 in 2000.

Deposits accumulated in the bank in December 2000 was Tk 3,234.8 million,

which comprised current deposits Tk 1,064 million, savings deposits Tk 1,074.1 million


and fixed deposits Tk 1,096.7 million. The bank did not provide loans and advances

during the first year of its operations. Loans and advances made by HSBC up to

December 2000 amounted to Tk 2,096.9 million. Areas of lending by the bank are

industrial units of readymade garments, pharmaceuticals, jute and jute goods and

consumer products, and trade and commerce. Classified loans of the bank were Tk 21.9

million (0.57% of total) in 2000. The bank was one of the firsts to introduce personal loan

schemes and automated teller machine (ATM) service.

Investment of the HSBC Ltd in Bangladesh in 2000 was Tk 250.82 million, of

which Tk 250.80 million and Tk 0.02 million were in government TREASURY BILLs and

PRIZE BONDs respectively. In the same year the amount of deposits the bank maintained

with other banks was Tk 341.42 million (Tk 4.58 million in Bangladesh and Tk 336.90

million abroad). The volume of foreign exchange business handled by the bank in that

year stood at Tk 4,137 million.

Assets of the bank excluding off-balance sheet items were valued at Tk 3,880.2

million in 2000, when the off-balance-sheet items accounted for Tk 2,669.2 million. The

bank had no borrowing from the interbank market during 1999 and 2000. Till December

1999, HSBC in Bangladesh continued to suffer net losses every year, as the operating

expenses were greater than the operating incomes. In 2000, the bank earned a net profit

of Tk 18.2 million after adjusting provisions for taxation and classified loans

1.3 HSBC BANGLADESH SERVICES:

A. BUSINESS/ CORPORATE BANKING - Business Banking from HSBC offers the

flexibility of solutions specifically catered to customers growing business needs and

management of their business. A Business Banking Account with HSBC provides access

to a wide range of products as valued Business Banking Customer. HSBC's business

accounts are no longer just a medium to deposit money and make standard payments.

With Business Banking customers have access to a range of products, which target their


business growth. Therefore, opening Business Banking Account requires a reasonable

minimum balance.

HSBC offers an unmatched efficient banking structure along with a whole range

of products and services to suit all business needs. At HSBC understands that running a

business takes time, money and planning. That is why extensive range of products and

services has been designed to give maximum value with the minimum of paperwork and

effort.

With over 9,800 offices and a presence in over 77 countries and territories

including the Asia-Pacific region, Europe, the Americas, the Middle East and Africa, and

with over 100 million customers, HSBC has the ability to take the business forward.

The following services are offered free of cost to business banking account holders

1. BUSINESS SERVICE ACCOUNT: Business Banking Account will enable customers to

receive credit of all their cash/cheque deposits along with inward remittances and make

all local payments and provide them access to its wide range of services for the

customer’s business requirements.

(a) 24 HOURS DEPOSITS: Customers may deposit upto BDT 50,000 cash per transaction

and any BDT amount in cheque 24 hours a day, 7 days a week through our ATM

Machines, conveniently located Sales and Service Centers. EasyPay Machines are also

available for deposit of BDT 50,000 cash per transaction and any BDT amount in cheque

to customer’s Business Banking account. Customers can use both ATM Machine and

EasyPay Machine at any available location FREE OF COST.

(b) 24 HOURS WITHDRAWALS: Customers can withdraw cash from any of the

conveniently located HSBC ATM Machines using their Business Banking Account ATM

Card at FREE OF COST.


(c) 24 HOURS BILL PAYMENTS: Paying bills any time of day and night has been made

as easy and accessible than ever before with HSBC Easy Pay Machines located at its

sales and service centers. Easy Pay Machines are available 7 days a week, 24 hours a day.

Through Easy Pay, both HSBC and Non - HSBC customers can make deposits and pay

their utility bills, HSBC Credit Card payments and etc. Customers (both HSBC and Non

– HSBC) can pay bills of:

A customer service representative is also available from 9:00am to 10:00pm, 7 days a

week, except government holidays, to assist customers to deposit cash/cheque and pay

their bills FREE OF COST.

(d) PHONE BANKING: Business Banking Account also provides access to accounts

through HSBC’s state of the art Phone Banking facilities. This is a secure, easy, efficient

system which allows to check account balance, order cheque books and much more 7

days a week, 24 hours a day FREE OF COST.

(e) HSBC CHEQUE BOOK: For payments to beneficiaries through your Business

Banking Account HSBC offers one account payee chequebook (50 cheque leaves) per

month FREE OF COST. You may receive additional chequebooks with a minimal

service fee.

(f) STATEMENTS VIA FAX: HSBC now offers the option of receiving statements via fax

everyday FREE OF COST.


A Business Banking customer may request for the following additional services:

(a) OD FACILITY: To ensure that cheques are honored when fund is not available, in

emergencies, Business Banking Account provides with an overdraft against 100% margin

of fixed deposit.

(b) INTERNET BANKING BY HSBCNET: Business Banking Account provides HSBCnet

Internet Banking service, to check balances, download statements and make payments

within HSBC accounts from ANY appropriate Internet enabled PC!

(c) TRADE SOLUTIONS: HSBC offers its global reach and local expertise in handling

trade business, including the complete range of services that would facilitates import and

export. These include:

IMPORT SERVICES: Issuance of Letter of Credits (Documentary Credits) and

other import services

EXPORT SERVICES: Electronic Documentary Credit Advising (EDCA) and other

export services

2. TREASURY:

HSBC is the leading market maker globally, quoting competitive prices in all

tradable currencies, and acting as a primary provider of liquidity to the market 24 hours a

day. Its dynamic Corporate and Institutional marketing teams provide up-to-date market

intelligence, advice and timely execution of deals to the customers throughout the trading

day, including the following:

(a) SPOT FOREIGN EXCHANGE: A spot contract is a binding obligation to buy or sell a

certain amount of foreign currency at the current market rate, for settlement in two

business days time.


(b) FORWARD FOREIGN EXCHANGE: A forward exchange contract (or forward

contract) is a binding obligation to buy or sell a certain amount of foreign currency at a

pre-agreed rate of exchange, on or before a certain date.

(c) COMPETITIVE FOREX RATES FOR REMITTANCES, EXPORT AND IMPORT: HSBC

in Dhaka offers competitive FX rates to the corporate and retail customers.

(d) WEEKLY CURRENCY NEWSLETTER: HSBC in Dhaka provides comprehensive

commentaries on recent market movements. This helps the customers to decide on

important Foreign Exchange and Money Market issues.

3. CORPORATE BANKING: HSBC have a full range of products and services, which

include:

(a) OVERDRAFT: A convenient and flexible form of short-term financing for routine

operating expenses and overheads of your company.

(b) IMPORT AND EXPORT LOANS: Loans against import are available to customers

when they purchase under Documentary Credit or Documentary Collections terms.

Pre-shipment finance is available to you to meet your working capital requirements.

Advances are granted upon production of a buyer's contract or export DC.

(c) DP/DA PURCHASE: A cash advance made to customers when they have exported

goods to a buyer through Documentary Collections, either on a Documents against

Acceptance (DA) or Documents against Payments (DP) basis.

(d) LONG-TERM LOANS: HSBC customizes a Term Loan to finance the fixed assets that

businesses need (such as land, new premises, equipment and machinery). It may be a

Greenfield project or an expansion of an existing plant that may be financed at

competitive floating rate of interest.


(e) Guarantees and Bonds: HSBC in Bangladesh issues a full range of Performance

Guarantees, Advance Payment Guarantees, Financial Guarantees and Bid bonds for

supporting the underlying business of customers. The availability of credit facilities is

subject to HSBC's Internal Credit guidelines and approval process.

4. TRADE SERVICES: HSBC provides the following Trade Services:

(a) EXPORT SERVICES: With over 9,500 offices in 79 countries and territories,

customers can be rest assured that an HSBC office is close to them, wherever they are

exporting to. HSBC is available to provide customers with advice on any aspect of their

trade document preparation and can also provide with working capital finance to assist to

source raw materials Export services include:

►Pre-shipment Finance

►Post- shipment Finance

►Documentary Credit Advising

(b) IMPORT SERVICES: With over 130 years of experience supporting importers

globally, HSBC is well positioned to fulfill trading needs. A full range of import services

handled by experienced staff is available, ensuring that import documents are processed

without delay. Import services include:

►Documentary Credits

►Import Collections

►Import Finance

►Shipping Guarantee


(c) TRADE EXPRESS: Trade features as an integral part of the Bangladesh economy and

this trend is set to continue. Competition in trade, however, continues to grow stiffer for

local customers (both domestically and internationally). In order to facilitate their

competitiveness, HSBC provide priority customers the ability to handle their transactions

more quickly, easily, and efficiently.

Trade Express is an umbrella service, which combines traditional trade products,

document delivery services, reinforced by HSBC's proprietary state of the art e-banking

(Hexagon and Electronic DC Advising), designed to provide tailored solutions for

priority customers from the convenience of their own office remote banking.

The benefits delivered by Trade Express are

Real-time intimation of Export Documentary Credit (DC) delivered to your email

account or fax number, along with a copy of the documentary credit enabling

faster and more accurate handling of exports.

Export transaction advices delivered to your desk through email or fax and import

transaction advices through Hexagon.

Online issuance and amendment of Import DCs from your office, reducing cost

and process time for you.

Online access to your Import and Export facility positions.

Real-time correspondence with the bank through Hexagon enabling you to

electronically present your requests and instructions in a secure and fast manner.

Extended counter hours and our commitment to quicker turnaround of

transactions.

Document pick up and delivery services.

Minimal documentation / sign up formality.

5. PAYMENTS AND CASH MANAGEMENT: These services include:

(a) ACCOUNT MANAGEMENT SERVICES: HSBC's Global Payments and Cash

Management services provide domestic and regional transaction solutions to blue-chip


companies throughout the world. Services include a comprehensive range of traditional

account and transaction services, augmented by its liquidity and financial management

techniques and delivered via its global electronic banking system, Hexagon.

It is committed to service excellence, with its reputation for stability and

understanding of the region has repeatedly been recognized through citations by major

business publications. With its local expertise in Bangladesh, HSBC is well versed in

local practices and regulations affecting the management of cash on a domestic and

regional basis.

(b) PAYMENT AND COLLECTION: Most corporate treasurers cannot afford to spend time

worrying about routine payments. HSBC in Bangladesh has the technology to put them in

better control of routine operations and has been successfully handling payment

requirements throughout the nation for its corporate clients. HSBC provides with

benefits, which include:

Reduction in payment time.

Availability of payment details through Hexagon.

Easy reconciliation of payments/receipts through Hexagon statement.

Centralization of control of payments.

Network coverage of almost 200 locations nation-wide.

Country-wide Collection: As receivable management is crucial to financial cycle,

HSBC has developed products to efficiently manage customers’ requirements and reduce

cost. The services and benefits include:

Cost reduction through efficient fund management.

Detailed MIS on cash collection, resulting in better management.

Account reconciliation done through Hexagon.

Centralization of control of all your cash and instruments.

Network coverage of almost 200 locations nation-wide.


Quicker cash collection into a central account, resulting in greater earnings.

(c) HEXAGON CHEQUE WRITER: The latest addition in the Payments and Cash

Management services is Hexagon Cheque Writer. It is a cheque writer product which is

also a built-in module of Hexagon, global electronic banking. It is designed to facilitate

corporate customers for preparing, printing and updating the PC ledger (ledger

maintained in cheque writer). Services and benefits include:

Preparation of cheques through Hexagon Cheque Writer.

Reconciliation of cheques at the Hexagon ledger.

Advice along with cheque leaves.

No further installation required since it is built in our Hexagon module.

Recurrent payments can be stored and printed.

Convenience of in-house cheque printing.

(d) ELECTRONIC BANKING: Provides access to customers’ account from their PC 24-

hours a day, 365 days a year from anywhere in the world with Hexagon

Cash Management Services: Hexagon offers comprehensive cash management services

in an easy-to-use and highly secure system. This provides customers timely and accurate

account information and gives total control over their finances.

Customers can pay to third parties at ease and can affect instant fund transfer between

their own accounts

Trade Services: Hexagon significantly reduces the documentation and physical delivery

required for trade finance, resulting in both faster and more accurate processing and

administration. It will reduce data entry and related errors and you can store frequently

used documentary credit (DC) in templates and recall them as needed to speed in your

processing.


Salary Payment: Salary payment to staff is at customers’ fingertips by using our MT_

100 module through Hexagon. Customers can import salary from their existing payroll

system and send it to bank through Hexagon. From these staff’s accounts are credited

immediately and error-free.

Information Services: Hexagon is essential in today's fast moving markets. Hexagon

provides a wide range of market information prepared by experts around the world,

enhancing opportunities for profit. Customers get precious metal prices, spot rates, stock

prices, index values and foreign exchange commentary everyday.

Report Writer: Hexagon report writer is a powerful and easy-to-use tool for accessing

and managing accounts, trade finance and security information. Report writer allows

customers to organize their accounts in a variety of ways of convenient and customized

reporting. It is easy to integrate with their current accounting package.

Offline Mode: Hexagon can be used offline to prepare payment instructions,

documentary credit application; customers can trace and send them at your convenient

time, cutting phone costs. Offline mode also reduces clerical work and speeds up their

office.

B. PERSONAL FINANCIAL SERVICES:

1. MANAGING MONEY:

(a) SAVINGS PLUS: With HSBC's Savings-Plus Account, customers can earn interest from

the account on a monthly basis rather than at the end of six months.

Benefits:

Interest will be paid at the end of each month instead of six months.

Free ATM card with daily withdrawal limit of BDT 50,000.

Free phone banking facilities.

Free personalized chequebook.

Monthly statements.


Eligibility:

Any resident Bangladeshi above 18 years of age is eligible to open a Savings-Plus

Account.

Terms and Conditions:

Minimum opening balance is BDT500,000

Interest payable only for balance of BDT 500,000 or above.

(b) CURRENT ACCOUNT: With an HSBC current account, making payments has never

been so simple. It includes the following services:

Easy Pay: Easy Pay machines offer customers and non-customers an easy, convenient

and quick way to make deposits, payments and instructions. The Easy Pay provides

services 24-hours a day, seven days a week.

ATM: Provides access to the account through an ATM card, without having to visit a

branch! Customers can access to their current account via ATM 24-hours a day, seven

days a week.

Phone Banking: HSBC Phone banking Service lets customers conduct banking

transactions - 24-hours a day, seven days a week, and 365 days a year

Personalized Chequebook: Current Account holders receive a free personalized

chequebook.

(c) SAVINGS ACCOUNT: HSBC Savings Account is a secure, rewarding and accessible

way to manage routine money matters effectively. It allows customers to complete any

number of transactions without charge, penalties or a reduction in credit interest. For

savings accounts HSBC neither have any ledger fee nor have limit on number of

transactions. It also provides ATM, Phone banking, & Personalized Chequebooks.

Interest rate structure encourages you to save. Interest is calculated daily and credited to


your account every 6 months. Minimum balance requirement is of BDT 50,000 to receive

daily interest.

(d) POWERVANTAGE: HSBC PowerVantage customers receive special and immediate

assistance at Bank branches, while a host of services ensures that customers control their

finances easily and efficiently. PowerVantage makes banking effortless, allowing

customers to get on with your busy day. It includes the following services:

Free Personal Accident Insurance Cover: PowerVantage customer receives accident

insurance cover for the amount of BDT 100,000. The Premium will be covered by the

Bank.

Endorsement of Foreign Currency: Customers can endorse foreign currency in their

passport against the travel quota absolutely free of charge.

Special Loan Rates: PowerVantage customers are entitled to special reduced rates on a

Personal Installment Loan and a discount on the processing fee for a Car Loan.

Auto sweep of Funds: To benefit from a higher rate of interest, customers can issue

standing instructions to have funds transferred between their current and savings accounts

and time deposits.

Standing Instructions: Customers can set up standing instructions of any fixed amount

to be paid to selected parties' accounts with HSBC, free of charge.

Special ATM Card: PowerVantage ATM Card provides a high cash withdrawal limit of

up to BDT 50,000 at any of HSBC's ATMs across Bangladesh.

Monthly Composite Statement: A monthly PowerVantage statement helps you keep

track of all your accounts with HSBC.

(e) HSBC SELECT: HSBC Select - a customized banking proposition offering exclusive

privileges and unrivalled personal attention. HSBC Select is designed to provide you with


a superior service offering, access to exclusive facilities, preferential pricing, convenient

services and personal attention, allowing you greater personal and financial freedom.

Key Features:

►Dedicated relationship managers: One-on-one assistance is available from a personal

relationship manager to manage customer’s financial requirements.

►Privileged access: Exclusive HSBC Select Centers offer a private lounge, reserved car

parking for customer’s convenience and priority service.

►International credit card: HSBC's International credit card (MasterCard) provides

customers flexibility and convenience while traveling internationally. The credit card

entitles exclusive discounts worldwide.

►Pre-approved overdraft facility: HSBC Select customers receive a pre approved,

unsecured overdraft facility to give them flexibility and help them meet any emergency

financing needs.

►A free HSBC global Select ATM card: This card is issued against resident foreign

currency deposit. It allows to access cash from over 800,000 ATMs around the world, 24

hours a day (subject to foreign exchange regulations). For Select customers, normal

transaction fees are waived.

►Improved pricing: Avails customers improved pricing on loan products, credit

facilities, remittance and other services.

►An integrated account statement: Provides customers with a consolidated update on

their total financial position.

►Emergency cash disbursement: Customers receive emergency cash at any HSBC

branch worldwide (subject to foreign exchange regulations).


►Waiver of fees: There will be no fees on purchase or sale of foreign currency, required

for travel purposes (limits apply).

►Commission free endorsement: There will be no commission charge on the

endorsement of foreign currency for self and spouse.

►Higher ATM limits: Customers enjoy a higher ATM withdrawal limit up to BDT

150,000 each day.

2. BORROWING MONEY:

(a) PERSONAL SECURED LOAN: A Personal Secured Loan is a fixed loan secured by

customer’s time deposit held with HSBC. The loan provides customers with the

flexibility to meet any emergency cash needs, so that they don't have to encash their high

yield investments.

Benefits:

Loan amount is up to 90% of the value of your taka time deposit or WEDBs or

80% of the value of your foreign currency time deposit or USDBs with minimum

loan amount of BDT90,000

Competitive interest rates

Processing fee - BDT1,000

Flexible repayment schedules ranging from 12 to 60 equal monthly installments

Partial prepayment and early settlement facilities

Automatic and free transfer of monthly installments from your savings account

without affecting the interest earned on that account.


Option of one time repayment at the end of loan tenure with discounted interest

rate is available.

(b) CREDIT CARD: HSBC's co-branded credit card with Prime Bank gives the freedom to

pay for goods and services without the hassle of carrying cash. The card is accepted at

shops, restaurants, hotels, airlines and travel agents, departmental stores, hospitals and

diagnostic centers, practically anywhere in Bangladesh displaying the MasterCard logo.

Features:

►Customers can enjoy between 20 to 50 days of interest free credit from the date of each

transaction;

►After receiving monthly statement, customers can either choose to pay full or a

minimum of 8% of the current balance shown in the statement or BDT 500 whichever is

higher;

►Interest is 2.5% per month and will be calculated on a daily basis;

►Credit limit range from BDT 50, 000 to BDT 200, 000;

►Annual fee is BDT 2, 000;

►Customers can get additional first supplementary card for free, with a

shared credit limit;

3. CUSTOMER SERVICE CENTERS: HSBC has a total of 6 service centers throughout the

country. They are located at:

►Dhanmondi: Mumtaz Plaza, House No. 07. Road No. 04, Ground floor, Dhanmondi

R/A, Dhaka 1205

►Banani: Sharif Plaza, 39 Kemal Ataturk Avenue, Banani, Dhaka 1213


►Uttara: House No. 41, Road No. 07, Sector No. 04, Uttara Model Town, Dhaka 1230

►Gulshan: House No. SWG-2 (Corner of Road No. 05, Gulshan Avenue, Dhaka 1212

►GEC Circle: Golden Plaza, 1692 CDA Avenue, East Nasirabad, Chittagong 4000

►Jamal Khan: Equity Millennium, 59 Jamal Khan Road, Chittagong

Features: These Customer Service Centers have the following services.

►Opening accounts.

►Applying for any of HSBC loan products and knowing detailed features of all the

products from HSBC Mobile Sales Officers (MSO) stationed at Customer Service

Centre;

►Using ATMs;

►Using Easy Pay Machine;

►Access to Call Centre;

►Access to Phone banking;

►Access to HSBC website;


1.4 OBJECTIVE & METHODOLOGY:

The objective of this study is to determine the customers’ satisfaction level at HSBC

Bangladesh

In order to conduct this study report both primary & secondary data have been utilized.

The secondary data have been collected from published literature, journals, company

information (web links), other related sources, etc. The primary data have been obtained

through interviewing 50 HSBC account holders of different profession & age group.

Interviewing has been conducted using a structured questionnaire containing 22 questions

representing the five dimensions of customer satisfaction measurement. A sample


questionnaire has been annexed in the appendix A. The time period of the study lies in

between 19 June 2007 to 17 July 2007.

1.5 LIMITATION OF THE STUDY:

The study report consists of few limitations:

►The report has been conducted within a limited time frame.

►The study is self financed.

►Only selected Branches have been considered for the study.

►Samples were selected conveniently.

►For the convenient of study non probability samples have been used.

►Amateur user of SPSS software for Data Analysis;

►The sample size does not represent the total population.

1.6 LITERATURE REVIEW:

Superior service quality is widely acknowledged as a driver of perceived value,

which, in turn, will enhance customer loyalty (Parasuraman and Grewal, 2000) and

improve the provider’s image, sales and profitability (Buzzell and Gale, 1987;

Gummesson, 1993). Therefore, the notion of service quality has been examined in

previous studies of various services offered by HSBC.

CUSTOMER SATISFACTION:


Customer satisfaction, a business term, is a measure of how products and services

supplied by a company meet or surpass customer expectation. It is seen as a key

performance indicator within business and is part of the four perspectives of a Balanced

Scorecard. In a competitive marketplace where businesses compete for customers,

customer satisfaction is seen as a key differentiator and increasingly has become a key

element of business strategy.

MEASURING CUSTOMER SATISFACTION:

Organizations are increasingly interested in retaining existing customers while

targeting non-customers; measuring customer satisfaction provides an indication of how

successful the organization is at providing products and/or services to the marketplace.

Customer satisfaction is an ambiguous and abstract concept and the actual manifestation

of the state of satisfaction will vary from person to person and product/service to

product/service. The state of satisfaction depends on a number of both psychological and

physical variables which correlate with satisfaction behaviors such as return and

recommend rate. The level of satisfaction can also vary depending on other options the

customer may have and other products against which the customer can compare the

organization's products.

Because satisfaction is basically a psychological state, care should be taken in the

effort of quantitative measurement, although a large quantity of research in this area has

recently been developed. Work done by Berry, Brodeur between 1990 and 1998 defined

ten 'Quality Values' which influence satisfaction behavior, further expanded by Berry in

2002 and known as the ten domains of satisfaction. These ten domains of satisfaction

include: Quality, Value, Timeliness, Efficiency, Ease of Access, Environment, Inter-

departmental Teamwork, Front line Service Behaviors, Commitment to the Customer and

Innovation. These factors are emphasized for continuous improvement and organizational

change measurement and are most often utilized to develop the architecture for

satisfaction measurement as an integrated model. Work done by Parasuraman, Zeithaml

and Berry between 1985 and 1988 provides the basis for the measurement of customer

satisfaction with a service by using the gap between the customer's expectation of


performance and their perceived experience of performance. This provides the measurer

with a satisfaction "gap" which is objective and quantitative in nature. Work done by

Cronin and Taylor propose the "confirmation/disconfirmation" theory of combining the

"gap" described by Parasuraman, Zeithaml and Berry as two different measures

(perception and expectation of performance) into a single measurement of performance

according to expectation. According to Garbrand, customer satisfaction equals perception

of performance divided by expectation of performance.

The usual measures of customer satisfaction involve a survey with a set of statements

using a Likert Technique or scale. The customer is asked to evaluate each statement and

in term of their perception and expectation of the performance of the organization being

measured.

More than a decade ago, Parasuraman, Zeithaml and Berry (1988, 1991)

conducted extensive studies in different industries and developed the SERVQUAL

instrument: a 22-item scale with a set of service quality dimensions to quantify a

customer’s assessment of a company’s service quality. Five key dimensions of service

quality — reliability, responsiveness, assurance, empathy and tangibles — have been

identified and form the foundation on which a lot of other studies on service quality have

been built. SERVQUAL is widely recognized and used, and it is regarded as applicable to

a number of industries, including the banking industry (Yavas, Bilgin, Shemuell, 1997).

However, SERVQUAL has been subject to certain criticisms, including vagueness in the

definition of expectations, its dubious applicability in some industries (Teas, 1993), the

need for expectation measurement (Cronin and Tayer, 1992, 1994), and SERVQUAL’s

dimensionality (Carman, 1990). Moreover, the traditional service quality dimensions

cannot directly apply to Internet banking, because it represents a different and unique

service delivery process.

SERVQUAL:

The SERVQUAL instrument has been the predominant method used to measure

consumers’ perceptions of service quality. It has five generic dimensions or factors that

are stated as follows (van Iwaarden et al., 2003):


(1) Tangibles: Physical facilities, equipment and appearance of personnel;

(2) Reliability: Ability to perform the promised service dependably and accurately;

(3) Responsiveness: Willingness to help customers and provide prompt service;

(4) Assurance (including competence, courtesy, credibility and security): Knowledge

and courtesy of employees and their ability to inspire trust and confidence;

(5) Empathy (including access, communication, understanding the customer): Caring

and Individualized attention that the firm provides to its customers;

Service quality has been shown to be a significant predictor of behavioral

intentions, e.g. likelihood of recommending, repeat purchase, switching, and complaining

(Bitner, 1990). Woodside, Frey and Daly (1989) found that there is a significant

correlation between service quality and repurchase behavior in the health care industry.

Findings from Dabholkar (1996) indicate that customers’ feelings correlate positively

with the intention to use. In light of these findings, the present study investigates the

relationship between service quality, customer satisfaction and future consumption

behavior.

2.0 FINDINGS & ANALYSIS:

Descriptive of Appendix B shows the results of Customer Satisfaction level at HSBC

Bangladesh in terms of five dimensions, ‘Tangibles’, ‘Reliability’, ‘Brand

Responsiveness’, ‘Assurance’, and ‘Empathy’. Each dimension was measured averagely

on a seven point Likert scale. Based on perception, the elements those customers’ rates

are:

Tangibles:


Modern Looking Equipment (Mean= 4.22, Std. Dev=1.982)

Visually Appealing Physical Facilities (Mean= 3.86, Std. Dev= 2.129)

Neat Appearance of Employees (Mean= 3.94, Std. Dev= 1.570)

Appealing Appearance of Materials (Mean= 4.38, Std. Dev= 1.497)

Reliability:

Act according to Promises (Mean= 4.64, Std. Dev= 1.575)

Sincere Interest in Problem Solving (Mean= 4.50, Std. Dev= 1.919)

Performs the Service Right the First Time (Mean= 4.40, Std. Dev= 1.714)

Provides Services at the Time Promised (Mean= 5.00, Std. Dev= 1.512)

Insists on Error Free Records (Mean= 4.36, Std. Dev= 1.882)

Responsiveness:

Informs exactly when Services will be provided (Mean= 4.18, Std. Dev= 1.987)

Gives Prompt Services (Mean= 4.48, Std. Dev= 1.632)

Employees are Always Willing to Help (Mean= 4.44, Std. Dev= 1.728)

Never too Busy to Respond Customer Requests (Mean= 4.16, Std. Dev= 1.800)

Assurance:

Employees Behavior Instill Confidence in Customers (Mean= 4.52, Std. Dev= 2.102)

Customers Feel Safe in Transaction (Mean= 4.86, Std. Dev= 1.690)

Consistent Courtesy of Employees (Mean= 4.84, Std. Dev= 1.877)

Employees have the Knowledge to Answer Customers' Question (Mean= 4.92, Std. Dev=

2.029)

Empathy:

Gives Customers Individual Attention (Mean= 4.38, Std. Dev= 1.427)

Has Convenient Operating Hours for Customers (Mean= 4.34, Std. Dev= 1.710)

Has Employees to Give Customers Personal Attention (Mean= 3.84, Std. Dev= 1.845)

Has Best Interest of Customers at Heart (Mean= 3.96, Std. Dev= 2.176)

Employees Understand Specific Needs of Customers (Mean= 3.92, Std. Dev= 1.700)

Customer satisfaction level should be measured based on the customer’s perception of the

services offered & received. Customer perception of the services offered & received is a

significant determinant of Customer Satisfaction measurement. This perception may be


developed from past or present experience. The following table shows the mean &

standard deviation scores of each dimension of customer satisfaction level along with the

aggregate score of all dimensions.

Table 1: Showing the score of Perception Regarding Customer Satisfaction

Factors Mean STD. Deviation

Tangibles 4.10 1.794

Reliability 4.58 1.720

Responsiveness 4.31 1.786

Assurance 4.78 1.924

Empathy 4.08 1.431

Aggregate 4.37 1.731

Aggregate Customer Satisfaction Level score of HSBC Bangladesh is 4.37 which

indicate a satisfactory performance where satisfactory level is considered in between 4.00

to 4.50.

Moreover, HSBC has established a strong position in terms of Assurance & Reliability,

indicating that customers of HSBC are very much reliable on the services it provides.

Overall the customers have expressed positive perception in terms of tangibles,

responsiveness, and empathy.

The following figure shows the Means of Customer Satisfaction Level measuring

dimensions:



3.0 CONCLUSION & RECOMMENDATION:

From the above analyses, it is evident that HSBC has many positive features and the customers are mostly satisfies with the services offered. In spite of this fact, it has been observed that many customers are not aware of all sort facilities provided by HSBC.

Though this study can’t provide conclusive evidence to determine particular courses of action and further research will be required to provide conclusive evidence. But the management of HSBC should consider the findings and take all necessary steps for further research and if they think that the customers of HSBC are homogeneous in their choice and preferences, they may consider the following recommendations to gain more customer base and achieve more customer satisfaction along with maintaining existing customers’ delights

► The Management of HSBC should conduct more product & services awareness campaign.

► The HSBC Management should critically evaluate the deviation in means in order to create balance in all dimensions of customer satisfaction measurement tools.

►They should increase the level of providing personal attention to individual customers.


REFERENCE:

►HSBC Group, A brief History, available at www.hsbc.com;

►Raihan, A. (1999), “Status of Banking Technology in Bangladesh,” A Seminar Paper presented in BIBM, July 1999;

►Rahman, M. M. (2003), “Present Status of E-Banking in Bangladesh,” Journal of the Institute ofBankers, Bangladesh (IBB), Vol, 50, No. 1 (June): 101-113;

►The HSBC Business Profile, available at: www.hsbc.com/businessprofiles;

►A Framework for Determining and Prioritizing Critical Factors in Delivering Quality Services, Dr. Arash Shahin, Department of Management, University of Isfahan, Iran

►Parasuraman, A., Zeithaml, V.A. and Berry, L.L. (1994), "Reassessment of expectations as a comparison standard in measuring service quality: implications for future research", Journal of Marketing, Vol. 58, pp. 111-124.

►Interrogating SERVQUAL: a critical assessment of service quality measurement in a high street retail bank, Karin Newman, Professor, Middlesex University Business School, London, UK


APPENDIX: A

[Questionnaire]

Age: [18-25] [26-33] [33-50] [50-above] Gender: [Male] [Female]

Profession: [Business] [Service Holder] [Student]

Please show the extent to which you believe HSBC has the feature described in the statement. Write number that best shows your perceptions.

[ Strongly Disagree ] [ Strongly Agree ]---------------------------------------------------------------------------------------------------------

1 2 3 4 5 6 7

1. HSBC has modern looking equipment.

[ ]12. Employees in HSBC are always willing to help you.

[ ]

2. HSBC’s physical facilities are visually appealing. [ ]

13. Employees in HSBC are never too busy to respond to your request.

[ ]

3. HSBC’s reception desk employees are neat appearing. [ ]

14. The behavior of employees in HSBC instills confidence in you.

[ ]

4. Materials associated with the service (such as pamphlets or statements) are visually appealing at HSBC.

[ ]

15. You feel safe in your transactions with HSBC.

[ ]

5. When HSBC promises to do something by a certain time, it does so.

[ ]16. Employees in HSBC area consistently courteous with you. [ ]

6. When you have a problem, HSBC shows a sincere interest in solving it.

[ ]17. Employees in HSBC have the knowledge to answer your questions.

[ ]

7. HSBC performs the service right the first time.

18. HSBC gives you individual attention.

8. HSBC provides its service at the time it promises to do so.

[ ]19. HSBC has operating hours convenient to all its customers.

[ ]

9. HSBC insists on error free records

[ ]20. HSBC has employees who give you personal attention.

[ ]


10. Employees in HSBC tell you exactly when services will be performed.

[ ]21. HSBC has your best interest at heart. [ ]

11. Employees in HSBC give you prompt service.

[ ]22. The employees of HSBC understand your specific needs.

[ ]

Thank you very much for your time, cooperation & patience*****************************************************


APPENDIX: B

[SPSS Analyzed Data]

FREQUENCIES:

Statistics

Gender Type Occupation Age Group

N Valid 50 50 50

Missing 0 0 0

FREQUENCY TABLE

Gender Type

Frequency Percent

Valid

Percent

Cumulative

Percent

Valid Male 31 62.0 62.0 62.0

Female 19 38.0 38.0 100.0

Total 50 100.0 100.0

Occupation

Frequency Percent

Valid

Percent

Cumulative

Percent

Valid Businessman 17 34.0 34.0 34.0

Service Holder 19 38.0 38.0 72.0

Student 14 28.0 28.0 100.0

Total 50 100.0 100.0


Age Group

Frequency Percent

Valid

Percent

Cumulative

Percent

Valid 18-25 13 26.0 26.0 26.0

26-33 17 34.0 34.0 60.0

33-50 16 32.0 32.0 92.0

50-Above 4 8.0 8.0 100.0

Total 50 100.0 100.0

The following Graph shows the Frequencies of Samples in terms of Gender, Age

Group, and Occupation.


FemaleMaleGender Type

30

20

10

0

Fre

qu

enc

y

Gender Type


50-Above33-5026-3318-25

Age Group

20

15

10

5

0

Fre

qu

enc

y

Age Group

StudentService HolderBusinessmanOccupation

20

15

10

5

0

Fre

qu

enc

y

Occupation

DESCRIPTIVE:

Descriptive Statistics

N Minimum Maximum MeanStd.

Deviation

[ Tangibles ]

Modern Looking Equipment 50 1 7 4.22 1.982

Visually Appealing Physical

Facilities50 1 7 3.86 2.129

Neat Appearance of Employees 50 2 7 3.94 1.570

Appealing Appearance of Materials 50 1 7 4.38 1.497

[ Reliability ]

Act according to Promises 50 2 7 4.64 1.575

Sincere Interest in Problem Solving 50 1 7 4.50 1.919

Performs the Service Right the First

Time50 1 7 4.40 1.714

Provides Services at the Time

Promised50 2 7 5.00 1.512

Insists on Error Free Records 50 1 7 4.36 1.882

[ Responsiveness ]

Informs Exactly when Services will

be Provided50 1 7 4.18 1.987

Gives Prompt Services 50 2 7 4.48 1.632

Employees are Always Willing to

Help50 1 7 4.44 1.728

Never too Busy to Respond

Customer Requests50 1 7 4.16 1.800


[ Assurance ]

Employees Behavior Instill

Confidence in Customers50 1 7 4.52 2.102

Customers Feel Safe in Transaction 50 2 7 4.86 1.690

Consistent Courtesy of Employees 50 1 7 4.84 1.877

Employees have the Knowledge to

Answer Customers' Question50 2 7 4.92 2.029

[ Empathy ]

Gives Customers Individual

Attention50 1 7 4.38 1.427

Has Convenient Operating Hours for

Customers50 1 7 4.34 1.710

Has Employees to Give Customers

Personal Attention50 1 7 3.84 1.845

Has Best Interest of Customers at

Heart50 1 7 3.96 2.176

Employees Understand Specific

Needs of Customers50 1 7 3.92 1.700

Valid N (listwise) 50


CROSSTABS:

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

Age Group *

Gender Type *

Employees are

Always Willing to

Help

50 100.0% 0 .0% 50 100.0%

Age Group * Gender Type * Employees are Always Willing to Help Crosstabulation

Count

Employees are

Always Willing

to Help Gender Type Total

Male Female

Strongly

Disagree

Age

Group

33-50

3 3

Total 3 3

Moderately

Disagree

Age

Group

26-332 2

33-50 2 2

Total 4 4

Somehow

Disagree

Age

Group

26-332 5 7

33-50 2 0 2

Total 4 5 9


Neutral Age

Group

18-250 3 3

26-33 3 0 3

33-50 2 0 2

Total 5 3 8

Somehow Agree Age

Group

18-253 3

26-33 3 3

50-

Above4 4

Total 10 10

Moderately

Agree

Age

Group

18-250 5 5

26-33 2 0 2

33-50 0 3 3

Total 2 8 10

Strongly

Disagree

Age

Group

18-250 2 2

33-50 3 1 4

Total 3 3 6


T-TEST:

Group Statistics

Gender

Type N Mean

Std.

Deviation

Std.

Error

Mean

Modern Looking

Equipment

Male 31 4.03 2.373 .426

Female 19 4.53 1.073 .246

Visually Appealing

Physical Facilities

Male 31 3.94 1.931 .347

Female 19 3.74 2.469 .566

Neat Appearance of

Employees

Male 31 4.00 1.506 .270

Female 19 3.84 1.708 .392

Appealing Appearance

of Materials

Male 31 4.06 1.590 .286

Female 19 4.89 1.197 .275

Act according to

Promises

Male 31 4.90 1.758 .316

Female 19 4.21 1.134 .260

Sincere Interest in

Problem Solving

Male 31 4.94 1.825 .328

Female 19 3.79 1.903 .436

Performs the Service

Right the First Time

Male 31 4.39 1.476 .265

Female 19 4.42 2.090 .479

Provides Services at

the Time Promised

Male 31 4.81 1.662 .298

Female 19 5.32 1.204 .276

Insists on Error Free

Records

Male 31 4.13 2.125 .382

Female 19 4.74 1.368 .314

Informs Exactly when

Services will be

Provided

Male 31 4.35 2.009 .361

Female19 3.89 1.969 .452

Gives Prompt Services Male 31 4.45 1.729 .311

Female 19 4.53 1.504 .345


Employees are Always

Willing to Help

Male 31 4.06 1.750 .314

Female 19 5.05 1.545 .354

Never to Busy to

Respond Customer

Requests

Male 31 4.84 1.594 .286

Female19 3.05 1.580 .363

Employees Behavior

Instill Confidence in

Customers

Male 31 4.61 2.305 .414

Female19 4.37 1.770 .406

Customers Feel Safe in

Transaction

Male 31 4.52 1.730 .311

Female 19 5.42 1.502 .345

Consistent Courtesy of

Employees

Male 31 4.23 1.839 .330

Female 19 5.84 1.500 .344

Employees have the

Knowledge to Answer

Customers' Question

Male 31 5.23 1.820 .327

Female19 4.42 2.293 .526

Gives Customers

Individual Attention

Male 31 4.48 1.411 .253

Female 19 4.21 1.475 .338

Has Convenient

Operating Hours for

Customers

Male 31 4.16 1.369 .246

Female19 4.63 2.166 .497

Has Employees to Give

Customers Personal

Attention

Male 31 4.45 1.804 .324

Female19 2.84 1.463 .336

Has Best Interest of

Customers at Heart

Male 31 4.55 2.307 .414

Female 19 3.00 1.563 .359

Employees Understand

Specific Needs of

Customers

Male 31 4.03 1.941 .349

Female19 3.74 1.240 .285


Independent Samples Test

Levene's Test for Equality of Variances t-test for Equality of Means

F Sig. t dfSig. (2-tailed)

Mean Difference

Std. Error Difference

95% Confidence

Interval of the Difference

Lowe

rUppe

rModern Looking Equipment

Equal variances assumed

21.005

.000 -.853 48 .398 -.494 .579-

1.659.671

Equal variances not assumed

-1.004

45.010

.321 -.494 .492-

1.486.497

Visually Appealing Physical Facilities


5.587 .022 .317 48 .752 .199 .626-

1.0601.457


.29931.386

.767 .199 .664-

1.1551.552

Neat Appearance of Employees


.363 .550 .342 48 .734 .158 .462 -.770 1.086


.33234.524

.742 .158 .476 -.809 1.125

Appealing Appearance of Materials


1.856 .179-

1.95848 .056 -.830 .424

-1.683

.022


-2.095

45.830

.042 -.830 .396-

1.628-.033

Act according to Promises


4.534 .038 1.530 48 .133 .693 .453 -.217 1.603


1.69347.822

.097 .693 .409 -.130 1.515

Sincere Interest in

Equal variances

.025 .876 2.121 48 .039 1.146 .540 .060 2.232


Problem Solving

assumed


2.10036.964

.043 1.146 .546 .040 2.252

Performs the Service Right the First Time


2.410 .127 -.067 48 .947 -.034 .505-

1.049.981


-.06229.056

.951 -.034 .548-

1.1541.087

Provides Services at the Time Promised


4.697 .035-

1.16048 .252 -.509 .439

-1.392

.373


-1.252

46.516

.217 -.509 .407-

1.328.309

Insists on Error Free Records


7.829 .007-

1.11148 .272 -.608 .547

-1.708

.492


-1.230

47.836

.225 -.608 .494-

1.601.386

Informs Exactly when Services will be Provided


1.101 .299 .792 48 .432 .460 .581 -.708 1.628


.79638.817

.431 .460 .578 -.710 1.630

Gives Prompt Services


.939 .337 -.156 48 .877 -.075 .480-

1.040.891


-.16142.305

.873 -.075 .464-

1.011.862

Employees are Always Willing to Help


.001 .972-

2.02448 .049 -.988 .488

-1.970

-.006


-2.086

41.901

.043 -.988 .474-

1.944-.032


Never to Busy to Respond Customers Requests

Equal variances assumed .023 .881 3.859 48 .000 1.786 .463 .855 2.717


3.86738.468

.000 1.786 .462 .851 2.721

Employees Behavior Instill Confidence in Customers

Equal variances assumed 2.748 .104 .396 48 .694 .244 .618 -.998 1.487


.42245.414

.675 .244 .580 -.923 1.412

Customers Feel Safe in Transaction


.874 .354-

1.88548 .066 -.905 .480

-1.870

.061


-1.950

42.351

.058 -.905 .464-

1.841.031

Consistent Courtesy of Employees


1.401 .242-

3.22648 .002

-1.616

.501-

2.624-.609


-3.388

44.011

.001-

1.616.477

-2.578

-.655

Employees have the Knowledge to Answer Customers' Question


5.492 .023 1.374 48 .176 .805 .586 -.373 1.983


1.29931.752

.203 .805 .619 -.457 2.067

Gives Customers Individual Attention


.071 .790 .654 48 .516 .273 .418 -.568 1.114


.64736.896

.522 .273 .423 -.583 1.130

Has Equal 8.941 .004 -.943 48 .350 -.470 .499 - .532


Convenient Operating Hours for Customers

variances assumed

1.473


-.84826.923

.404 -.470 .554-

1.608.667

Has Employees to Give Customers Personal Attention


2.494 .121 3.279 48 .002 1.610 .491 .623 2.596


3.45044.173

.001 1.610 .467 .669 2.550

Has Best Interest of Customers at Heart


9.895 .003 2.580 48 .013 1.548 .600 .342 2.755


2.82547.424

.007 1.548 .548 .446 2.651

Employees Understand Specific Needs of Customers

Equal variances assumed 6.212 .016 .592 48 .556 .295 .499 -.707 1.298


.65747.873

.515 .295 .450 -.609 1.200
