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Service portfolio analysis of banking sector: A comparative study

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MERC Global’s International Journal of Management
ISSN 2321-7278 (Print) and ISSN 2321-7286 (Online)
Index Copernicus Value: 70.64, Journal Impact Factor: 0.952
Volume 6, Issue 4, October 2018, pp. 180-187
URL: http://ijm.mercglobal.org/abstractm312.html
© MERC Global

Service Portfolio Analysis of Banking Sector: A Comparative Study

Atul Kumar1, Jena Joshi2 and Jini Saxena3
1
Associate Professor and Deputy Director, 2Assistant Professor and 3Associate Professor,
Siddhant Institute of Business Management, Pune, Maharashtra, India.

CITATION: Kumar, Atul; Joshi, Jena and Saxena, Jini (2018), “Service Portfolio Analysis of
Banking Sector: A Comparative Study”, MERC Global’s International Journal of Management, Vol.
6, Issue 4, pp. 180-187.

ARTICLE HISTORY: Submitted: June 27, 2018, Revision received: July 30, 2018, Accepted:
August 14, 2018

ARTICLE TYPE: Research paper

ABSTRACT
India’s economic growth has been strongly driven by the Indian banking sector. The
development of the Indian economy has, also, in turn, developed the banking sector in the country.
The objectives of the research paper were to study the services rendered by the Indian banking sector,
to appraise those services and carrying out the comparative analysis of the service portfolio of banks.
Based on the secondary information, the study was carried out on three banks, viz SBI, Central
Urban Co-operative Bank and ICICI Bank. Primary data was also collected from respective bank
branches regarding the services offered through the survey. For the purpose of evaluation, the Boston
Consulting Group (BCG) matrix was considered.

KEYWORDS: Globalisation, Banks, Service portfolio analysis, Comparative analysis, Private

banks, Nationalised bank, Cooperative banks, Boston Consulting Group (BCG) matrix.

1. INTRODUCTION
The Indian banking sector has witnessed numerous positive developments in the last decade.
Ministry of Finance, the Reserve Bank of India (RBI), and several regulatory entities are the policy
makers that have contributed to improve the regulation in the banking sector. Various metrics like
profitability, growth and non-performing assets (NPAs) also show the favourable outcomes in the
banking industry. Many banks have emerged with extraordinary track records exhibiting value
creation, growth and innovation. The sector‟s market valuation has seen the improvement. But the
positive things are restricted to a small part. The cost linked to intermediation in Indian banking is
higher, whereas penetration is lower as compared to other markets. India‟s vision of becoming the
vibrant economy expects a lot of contribution from the banking industry. Consequently, the regulatory
framework and efficient policies need to be implemented for being successful. In many developing
countries, the development of the financial sector has been restricted as they were unable to respond
to the changing trends of the market. The long term status of economies is dominantly based on the
banking sector of the country.

1.1. Challenges and opportunities for banking players

The banking sector has to face the challenges, namely; the growth in new products and
services in wealth management, consumer finance and credit cards on the retail market is
discontinuous. The benchmark for being a successful banking player is being raised continually. It
also demands updated sales and marketing skills. Secondly, the whole decade experienced a decline in
the interest rates which has made the banks deployed of treasury gains. Consequently, the weaker
banks will get exposed. Thirdly, foreign banks give intense competition. Fourthly, there is a need for
institutional capabilities and high service levels from banks because of the changing demographic
variables including age household income.

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MERC Global’s International Journal of Management Volume 6, Issue 4, October 2018

1.2. Impact of globalisation

Globalisation is an economic phenomenon that increases the integration and interaction of the
national economic systems. This helps in increasing the growth rate in investment, international trade
and capital flow. Moreover, globalisation results in rapid growth in cross-border cultural, social and
technological exchanges. Globalisation has resulted in „integrating‟ the Indian economy with the
world economy, thereby opening up the national economies to the global market, resulting in
decreasing the role of State in shaping national policies.
Moreover, globalisation has made the country witness financial reforms innovations and
restructuring and advanced technologies of communication like internet, mobile / cell phones and
evolution of the ''convergence'' of computer which has provided the exposure of the technologies used
by foreign banks. Globalisation has resulted in revolutionary banking products and services that are
provided by the software industry of India.

2. LITERATURE REVIEW
Fantassi et al. (1992) suggested that the service provided should be appropriate in terms of
catering to customer requirement is not more than fifteen minutes within affordable price and doing
the right thing for the very first time. The importance of introducing flexibility is emphasized as there
is a limitation of strategic planning due to the shortcomings in forecasting the ever-changing future.
Hopkins (2005) concluded that banks should be customer-centric and that the customers should be
provided with online banking service to enable them easy tracking of their accounts. Considering the
increasing risk of identity theft and customer data privacy, Banks are emphasizing on risk
management. According to Agarwal (2005), banks should use services marketing where the
competition is not existing. The banking industry is highly profitable and the entry has been easy with
unlimited potential. Sivaloganathan (2004) coined that banks should provide personal and
professional customer services. Banks should try to improve customers‟ perception of bank services.
Customer population is increasing at a higher pace and likewise, there is a requirement of qualitative
competitive services.
Bielski (2005) concluded that the banking industry needs to improve the customers‟ service
levels regarding their brand and culture. It also emphasized that banks face problems with customer
service which is related to four different aspects including how to provide good service, enhancing
their organisational culture and brand, evaluating service levels in order to consistently illuminate the
information, motivating the members of the organisation to deliver up to the mark for best results and
finally providing the resources expected to attain the vision. Valentine (2005) suggested that a sale is
mostly due to how satisfied a customer is. Bank employees provide better services, but require a
proactive attitude. If such kind of attitude is developed among the employees, then, the organisation
will get to know the needs which are unfulfilled. Moreover, there is a need for developing a sales
culture through the proper system implementation which can track sales accurately.
Weun et al. (2004) coined that the severity of the failure of service can have a terrible impact
on the levels of satisfaction, trust and commitment, with unwelcomed negative word-of-mouth.
Service failure severity should be diligently worked on for the organisation‟s well-being. Bhatt (2005)
explained that the quality of the service rendered by the foreign banks is far better as compared to that
provided by the Indian Banks. Moreover, service quality varies across different demographic
variables. Rahman (2005)‟s studied the service quality of different Indian banks. It scrutinises the
incongruence existing between the customer‟s perception and expectations regarding the quality of
services. The study uses SERVQUAL as an instrument for study. The results point out that there is a
perceptual problem among the sample population regarding the experience of the banking service.

3. OBJECTIVES OF THE STUDY

 To study various services as introduced by the Indian banking sector
 To appraise the services those are offered by the Indian banking sector
 To carry out the comparative analysis of the service portfolio of Indian banks

4. RESEARCH METHODOLOGY
The present study was based on both exploratory research design as well as a descriptive
research design. The exploratory research design was used to determine the objectives for the research
and descriptive research design has helped in taking out the detailed facts and figures required for data
analysis. Both primary and secondary data have been collected. Primary data was collected through a
survey of banking personnel done in selected banks regarding what special services these banks offer.
A lot of secondary data has been collected from relevant books, magazines, newspapers, international

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Service Portfolio Analysis of Banking Sector: A Comparative Study Kumar et al.

and national journals, websites of different banks, including the Reserve Bank of India (RBI) and
National Bank for Agriculture and Rural Development (NABARD). For the survey of personnel from
a banking institution, a non-probability method of sampling- convenience sampling was used to select
the sample elements. The service portfolio of banks has been analysed with the help of the Boston
Consulting Group (BCG) Matrix. The comparative study of the service portfolio analysis has been
conducted by studying services offered by selected banks of the banking sector, including State Bank
of India (SBI) representing nationalized/public sector, ICICI Bank represents private sector and
Central Urban Co-operative Bank (CUCB) in Udaipur City, Rajasthan. The survey has been done in
the months of November and December in the year 2017.

5. RESULTS AND DISCUSSION

Various Services initiated by the banks are as follows.

5.1. The range of services launched by the banks

International Banking, Deposits and Advances, Customer Relationship (CR) Services,
Internet banking Services are the range of services provided by the banks selected for the study. The
banks selected for study are SBI, CUCB and ICICI Bank.

5.2. Deposit services by banks

All banks have different deposit schemes for their customers. ICICI Bank offers term
deposits, short term deposits, current deposits, yearly deposits, demand deposits and saving deposits.
Whereas State Bank of India offers, saving deposits, term deposits, yearly deposits, demand deposits
and current deposits. The Central Urban Co-operative bank also gives current deposits, yearly
deposits, saving deposits, demand deposits, short term deposits and term deposits.

5.3. The International banking services by the banks

From the study, it has been observed that ICICI and SBI offer services like the sale and
purchase of foreign currency and letter of credit whereas Central Urban Co-operative bank don‟t have
these services.

5.4. The advance services offered by the banks

From the research, it was found that the banks taken for study, offers non-fund based
advances and fund based advances.

5.5. Fund based advances by the banks

The research shows that the Central Urban Co-operative bank gives advances to working
capital, clean loan, term loan secured and unsecured letter of credit. ICICI Bank offers term loan, bill
discounting, secured and unsecured letter of credit, pre-shipment and post-shipment finance. SBI
gives pre and post-shipment finance, bill discounting, capital advances, secured and unsecured letter
of credit.

5.6. Nonfund based advances by the banks

All three banks taken for study, i.e. Central Urban Co-operative Bank, ICICI Bank and SBI
provide a letter of credit and grantee.

5.7. Other services offered by the banks

From the study, it has been observed that the Central Urban Co-operative Bank gives
trusteeship, collections, sale of draft and remittances. ICICI Bank provides travellers cheque,
remittances, collections, safe custody, trusteeship and credit cards. SBI offers safe custody, sale of the
draft, travellers‟ cheque and collections.

5.8. Additional services by the banks

Only ICICI Bank offers third party product or services. The other two banks took for study,
i.e. Central Urban Co-operative bank and SBI does not offer any kind of additional services.

5.9. Customer relationship services by banks

The Central Urban Co-operative bank does not carry out any kind of CR services while ICICI
and SBIs offer CR services.

5.10. Internet banking services by the banks

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MERC Global’s International Journal of Management Volume 6, Issue 4, October 2018

From the study, it was found that all the three banks, i.e. Central Urban Co-operative bank,
ICICI and SBI offer internet banking services. All three banks taken for study have different rules for
the price of services offered. The price of services offered by the bank is regulated by the government
or other organizations. The Central Urban Co-operative bank fixes the prices by involving the
government partially and SBI decides the prices according to RBI guidelines whereas ICICI Bank
fixes the price by them.
There is a separate cell to facilitate the customers by the Banks. From the study, it was
observed that ICICI bank has a dedicated cell and SBI has Grahak Mitra cell to provide this service
whereas the Central Urban Co-operative bank does not provide such services. SBI offers Credit cards,
auto loans, brokerage services, home equity credit, retirement vehicles, and savings as weak spots
with key customers, whereas ICICI and Central Urban Co-operative bank do not provide such
services.
ICICI and SBI offer the largest part of their services to corporate and retail patrons whereas
the Central Urban Co-operative bank gives it‟s a large part of services to retail patrons. For the
Central Urban Co-operative bank and SBI, the retail patrons are 90% and 80%, respectively, but
ICICI bank has only 55% as their retail patrons. SBI and Central Urban Co-operative bank have 10%
as their correspondent patrons while ICICI has only 5%. ICICI Bank provides special services to its
patrons. They provide technological services to their retail patrons, relationship management for the
corporate patrons and drawings are provided to the correspondent patrons. Central Urban Co-
operative and SBI don‟t have such special services for their patrons.
For the performance analysis, the ICICI bank is outsourcing the CRM software while the
Central Urban Co-operative Bank and SBI have their own software. ICICI bank has got a separate
team for image building or brand building, whereas SBI does not have any team for such activity. The
Central Urban Co-operative bank offers better customer services for building the image. Since it is a
co-operative bank, the Central Urban Co-operative bank doesn‟t have a strong portfolio while the
ICICI and SBIs have a strong portfolio.
All three banks (taken for research) offer customer services in different dimensions. ICICI
bank offers customer services in behaviour, technical, after-sales services, amenities and efficiency.
SBI focuses on behaviour and efficiency elements while the Central Urban Co-operative bank offers
after-sales service, behaviour and advisory dimensions.

5.11. The portfolio analysis of service rendered by banks

The service portfolio analysis is done through BCG Matrix for all three banks.

5.11.1. BCG Matrix of SBI

 Stars: In BCG Matrix stars are considered to be the best cash-generating products or services
and best market share. In the case of SBI the cash-generating services are Demand Deposits,
Deposits, Saving Deposits, Term Deposits, Yearly Deposits, Current Deposits Non-Fund
Based Advances, Fund Based Advances, Sale of Draft, Remittances, Secured, Collections,
Internet Banking, Safe Custody, CRM Service, „Grahak Mitra‟ Cell (To help customers), E-
Rail ATM Services, E-Pay, Brokerage Services, Locker. These services come under star
position in BCG Matrix which means that there is further growth in these services during the
coming years. The bank should give more attention to these services.
 Cash Cows: The cash cows are considered to be the leaders of the market and they consume
less cash and generate more. But there are no products or services available in this section.
 Question Mark: In this position the market share is low, but the business has high growth.
These services consume a lot of cash, but the returns are very low. Letter of Guarantee and
International Banking comes under question mark position in BCG Matrix, which reveals that
the market share of these services is very low, but there is a high growth so the bank should
invest more in these services so that it can reach star position.
 Dogs: The dogs are products or services that have both low market growth rate and low
market share. They only give a break even. Working Capital Advances, Letter of Credit, Post-
shipment Finance, Pre-shipment Finance, Sale & Purchase of Foreign Currency, Bill
Discounting, SBI Vishwa Yatra Foreign Travel Card, Gift Cards, Travellers Cheque, Payroll
Cards, NRI Services, Forward Inward Remittance, Gift Cheques, RBI EFT, Domestic
Treasury these services come underdogs position. These services are considered as cash traps
because they neither generate money nor consume a large portion of the money. The bank
should decrease these kinds of services.

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Service Portfolio Analysis of Banking Sector: A Comparative Study Kumar et al.

Market Share
High Low
Deposits, Deposits, Saving Deposits,
Term Deposits, Yearly Deposits, Current
Deposits Non-Fund Based Advances,
Fund Based Advances, Sale of Draft,
Remittances, Secured, Collections, Letter of Guarantee, International Banking
High
Internet Banking, Safe Custody, CRM
Service, „GrahakMitra‟ Cell (To help
Market Growth

customers), E-Rail ATM Services, E-Pay,

Brokerage Services, Locker.
Stars Question Marks
Working Capital Advances, Letter of
Credit, Post-shipment Finance, Pre-
shipment Finance, Sale & Purchase of
Foreign Currency, Bill Discounting, SBI
Low VishwaYatra Foreign Travel Card, Gift
Cards, Traveler‟s Cheque, Payroll Cards,
NRI Services, Forward Inward Remittance,
Gift Cheques, RBI EFT, Domestic Treasury
Cash Cows Dogs
BCG Matrix of State Bank of India

5.11.2. BCG Matrix of Central Urban Cooperative Bank

 Stars: Products in this position can be in high growth markets and having a higher market
share. The Central Urban Cooperative Bank has the following services in the star position,
Demand Deposits, Deposits, Term Deposits, Yearly Deposits, Secured, After Sales Service
and Remittances. These services show high growth and high market share, which means the
deposits are increasing every year. The bank should give more preference to these services
because it will generate money.
 Cash Cows: The simple rule for the cash cow is milk these services as much as possible
without harming the cow. It is often for the well-established and matured products. In Central
Urban Cooperative Bank Trusteeship comes under cash cow position.
 Question Mark: The products in this quadrant require a lot of investment to push them to the
star quadrant. The market share of the product or services are very low, but the business has
high growth. Current Deposits, Short Term Deposits, Saving Deposits, Fund Based Advances,
Non-Fund Based Advances, Unsecured, Clean Loan, Term Loan, Advisory, Draft and
Collections come under question mark quadrant which means the market share of these
services is low. These services require heavy investment to become stars. The market growth
is high for the mentioned services so the deposits and loans can grow in the coming years.
 Dogs: They have a very low market share and also work in a slowly growing market. As
these products or services are not worth investing because they create ether low or negative
cash income. Letter of Guarantee, International Banking and Working Capital advances
comes under dog‟s quadrant. This shows that these services are not been used frequently or
less number of customers use these services. Comparatively, these services have got a very
low market share so the bank shouldn‟t invest more.

Market Share
High Low
Current Deposits, Short Term Deposits,
Demand Deposits, Deposits, Term
Saving Deposits, Fund Based Advances,
Market Growth

Deposits, Yearly Deposits, Secured

Non-Fund Based Advances, Unsecured
High Deposits, After Sales Service,
Clean Loan, Term Loan, Advisory, Draft
Remittances
Collections
Stars Question Marks
Letter of Guarantee, International Banking,
Trusteeship
Low Working Capital Advances
Cash Cows Dogs
BCG Matrix of Central Urban Cooperative Bank

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MERC Global’s International Journal of Management Volume 6, Issue 4, October 2018

5.11.3. BCG Matrix of ICICI Bank

 Stars: The products in this position have a high market share and high growth. They are both
cash generators and cash users. The bank should invest more in stars as they are the primary
units of the company and after some time they will become cash cows and produce more
cash. Demand Deposits, Deposits, Term Deposits, fund Based Advances, Non-Fund Based
Advances, Saving Deposits, Yearly Deposits, Current Deposits, Short Term Deposits,
Secured, Remittances, Term Loan, Collections, CRM Service, Internet Banking and Credit
Cards all these services come under star quadrant which shows that the market share is high
and the services listed here have a high growth. The deposits are increasing so the bank
should continue these services and invest more in these services.
 Cash Cows: In BCG Matrix cash cows are often considered as products or services which
are matured and well-established. The ICICI bank has Trusteeship in a cash cow position
which means though the market growth is low the service generates more cash. The service
has got a high market share.
 Question Mark: The products in this quadrant are called a problem child because they are in
the fast-growing market with a small market share and use a lot of cash. International
Banking, Demat Services, Internet Packs, NRI Services, Safe Custody and Bank @ Home
these services come under question mark quadrant shows that they operate in a high growth
market with a low market share. The products or services in this position require a lot of
investment to become stars so the bank should invest in these services.
 Dogs: The dogs are not worth investing in as they generate low cash returns because products
and services in this market have a low market share as well as a slowly growing market.
Letter of Guarantee, Post-shipment Finance, Pre-shipment Finance, Bill Discounting, Letter
of Credit, Third Party Service, Smart Money Order, Traveler‟s Cheque, Card-2-Card FT,
Donations and Sale & Purchase of Foreign Currency are the services which come under dog
position. The bank shouldn‟t invest in these services as they generate low or negative cash
returns.

Market Share
High Low
Demand Deposits, Deposits, Term
Deposits, fund Based Advances, Non-Fund
Based Advances, Saving Deposits, Yearly International Banking, Demat Services,
Deposits, Current Deposits, Short Term Internet Packs, NRI Services, Safe
High
Deposits, Secured, Remittances, Term Custody, Bank @ Home
Market Growth

Loan, Collections, CRM Service, Internet

Banking and Credit Cards
Stars Question Marks
Letter of Guarantee, Post-shipment
Finance, Pre-shipment Finance, Bill
Discounting, Letter of Credit, Third Party
Trusteeship
Low Service, Smart Money Order, Traveler‟s
Cheque, Card-2-Card FT, Donations,
Sale & Purchase of Foreign Currency
Cash Cows Dogs
BCG Matrix of ICICI Bank

6. CONCLUSION
The study shows that the three Indian Banks provide enough services to survive and grow in
the financial market. The nationalised bank State Bank of India (SBI) has been found to have 80%
retail clientele and offers a wide range of services to them. Central Urban Co-operative Bank (CUC
Bank) offers very restricted services to its customers as compared to SBI and ICICI. ICICI has a wide
range of portfolio of services to cater to their retail and corporate clientele.
SBI has CRM Service, Internet Banking, Non-Fund Based Advances, Sale of Draft,
Collections, Remittances, Safe Custody, Saving Deposits, Yearly Deposits, Demand Deposits,
Deposits, Fund Based Advances, Term Deposits, Current Deposits, Secured, „GrahakMitra‟ Cell,
Brokerage Services, ATM Services, Locker, E-Pay, E-Rail services are in star position & most of
these services are in the growth stage of Product Life Cycle. The strategy used by SBI is the
expansion strategy for further growth of these Stars position services, whereas International Banking
and Letter of Guarantee are found to be the question marks in BCG Matrix and thus need to be given

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Service Portfolio Analysis of Banking Sector: A Comparative Study Kumar et al.

the huge investment in order to gain sufficient market share so as to convert them into BCG - star
category. Working Capital Advances, Gift Cards, Forward Inward Remittance, Gift Cheques, Bill
Discounting, Letter of Credit, Sale & Purchase of Foreign Currency, Travellers Cheque, SBI
VishwaYatra Foreign Travel Card, Payroll Cards, Pre-shipment Finance, Post-shipment Finance, NRI
Services, Domestic Treasury and Rbieft services are considered under the dog category which is in
the decline stage of the product life cycle (PLC).
The research found that for Central Urban Cooperative Bank, the services in star position
under BCG Matrix are Term Deposits, Secured, Remittances, Deposits, Yearly Deposits, Demand
Deposits, and After Sales Service. CUC has Question mark category services in which the bank has
applied expansion to some and retrenchment strategy for the rest of the services of CUC bank, which
includes services like Current Deposits, Non-Fund Based Advances, Term Loan, Clean Loan, Saving
Deposits, Short Term Deposits, Fund Based Advances, Unsecured, Draft, Collections, and Advisory
services. The Cash-cow position of CUC bank includes mature services and Trusteeship, through
which bank is reaping the experience curve benefits. The dog category of the bank has services like
Working Capital advances, International Banking, Letter of Guarantee where the former is applying
the retrenchment strategy.
The private bank- ICICI Bank, star category services are strategised to go for expansion as
there is a lot of potential for further growth. These star services are Non-Fund Based Advances,
Demand Deposits, Term Deposits, Current Deposits, Deposits, Yearly Deposits, Term Loan, fund
Based Advances, Saving Deposits, Short Term Deposits, Internet Banking, Customer Centre, Secured,
Collections, Remittances, Bill Payment, Shopping, Railway Ticket Booking via SMS, Prepaid Mobile
Recharge, Credit Cards, CRM Service, Anywhere Banking, Phone Banking, Mobile Banking, ATM,
Advisory Service, After Sales Service, Amenities, Debit cum ATM Card, Funds Transfer, Share
Trading services. Question mark/problem child category include Internet Packs, Safe Custody, Demat
Services, NRI Services, Bank @ Home, and International Banking services in which the services are
strategized for expansion as these are new in nature and have tremendous scope for growth in the
future. Cash cow services of ICICI bank are Trusteeship where the bank strategises for expansion
strategy with proper limits. The Dog category services of ICICI are Pre-Shipment Finance, Post-
Shipment Finance, Letter of Credit, Letter of Guarantee, Bill Discounting, Smart Money Order, Card-
2-Card FT, Third Party Service, Sale & Purchase of Foreign Currency, Donations, and travellers‟
Cheque. For this category, the bank is applying a retrenchment strategy.

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ABOUT THE AUTHOR (S)

Dr. Atul Kumar is an Associate Professor and Deputy Director, Siddhant Institute of Business Management,
Pune, Maharashtra, India. He is the corresponding author and can be reached at [email protected].

Dr. Jena Joshi is an Assistant Professor, Siddhant Institute of Business Management, Pune, Maharashtra, India.

Dr. Jini Saxena is an Associate Professor, Siddhant Institute of Business Management, Pune, Maharashtra,
India.

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