An Evaluation of Bank Customer Satisfaction in Pakistan, Comparing Foreign and Islamic Banks

Banks play the most important role in economic and financial system of any country by performing their core function of intermediation. Pakistani banking industry witnessed a no. of drastic changes since its inception after the establishment of country. The major historical developments include commercial bank establishment, nationalization, liberalization and privatization and privatization of banks. The most recent advances in this regard are start of Islamic banking system and introduction of foreign banks and use of modern Information Technology methods and tools. All these developments have resulted in focus of banking organizations turned towards Customer Satisfaction due to increased competition in the industry to increase and retain the number of customers. This study presents a comparative study of customer satisfaction taking foreign banks and Islamic banks as case. With the help of statistical methods like arithmetic mean calculation, Correlation, a positive relationship between customer satisfaction and factors has been found. The study results propose more emphasis on quality of customer service and product assortment and innovation to increase the level of customer satisfaction.