"Senior Citizen Bankaccount in FSIBLA MARKETING PRESPECTIVE ANALYSISNAME[Pick the date]Executive SummaryThe report attempted to highlight the prospects and opportunities of banking sector inBangladesh. Like other economic sector in the country, banking is one of major sectors whichcontribute to the nation economy. The report tried to furnish the overview of the performances ofbanking sector and also find out the comparison among the various categories of banks withrespect to the profitability.Finally, the report tried to establish the linear relationship among the various variables and netprofit of the banking sector.The banking sector of Bangladesh comprises of four categories of scheduled banks. These areNationalized Commercial Banks (NCBs), Government owned Development Finance Institutions(DFIs), Private Commercial Banks (PCBs) and Foreign Commercial Banks (FCBs). The numberof banks remained unchanged at 55 in 2013. These banks had a total number of 6562 branches(Bangladesh Bank, 2013).Access to banking services for the population has improved during the last three decades. Whilepopulation per branch was 57,700 in 1972, it was 19,800 in 1991. In 2001 it again rose to 21,300,due to winding up of a number of branches and growth in population. Compared to India’s15,000 persons per branch in 2000, Bangladesh is not far behind in this regard. This indicatesthat access to the banking system in the country is not a significant problem (BBS, 2003). 1 Table of ContentsExecutive Summary ........................................................................................................................ 0Table of Contents ............................................................................................................................ 2Introduction ..................................................................................................................................... 4Background of the study ............................................................................................................. 4Research Aim .............................................................................................................................. 4Conceptual Framework ............................................................................................................... 5Research Background ..................................................................................................................... 5Background of the Bank .............................................................................................................. 5Mission Statement of the Bank ................................................................................................... 6Banking Strategies of FSIBL ...................................................................................................... 7SWOT Analysis of FSIBL .......................................................................................................... 7Research Objectives ........................................................................................................................ 9Research Question .......................................................................................................................... 9Literature Review............................................................................................................................ 9Expansion of Senior Citizen Customers of the bank................................................................... 9Problem of Senior Citizen Customers of Banking Sector of Bangladesh ................................. 10Possibilities of the Banking Sector of Bangladesh with more facilities to the Senior Citizens 11Performance Evaluation of Senior Citizenship Banking of Bangladesh................................... 12Bad Debts and Senior Citizen Customers of Bangladesh ......................................................... 13Research Methodology ................................................................................................................. 14Introduction ............................................................................................................................... 14Quantitative Research Methods ................................................................................................ 14Limitations of Quantitative Research Methods ......................................................................... 15Research Approach of this research study ................................................................................ 15Hypothesis Formation ............................................................................................................... 15Paradigm of Inquisition for this study ....................................................................................... 16Primary Data Collection ............................................................................................................ 16Conclusion ................................................................................................................................. 16Research Analysis ......................................................................................................................... 17Data Collection .......................................................................................................................... 172 Research Analysis ..................................................................................................................... 18Hypothesis Testing ................................................................................................................ 18Research Findings and Discussion................................................................................................ 24Conclusion and Recommendation ................................................................................................ 25 3 IntroductionBackground of the studyBuffam (2000) depicted that companies that build the better e-business solutions will outperformtheir competitors. Companies that build the best business solutions will transform themselvesinto zero-latency enterprises. Companies that choose not to embrace e-business, or do soineffectively, will underperform or be driven out of business. Turban et al. (2000) argued thatfollowing points of managerial issues are very important: Focus of Electronic commercemanagement; Sales promotion; Purchase process reengineering; Just-in-Time delivery; newelectronic intermediary business; Provision of solutions; and Business ethics. Rahman (2001- 2002) observed that issues relating to electronic fund transfer require security, availability,authenticity, non-reputability and audibility.He suggested for appropriate control and efficient security measures and also for properutilization of audit trail in the e-commerce system. Ali (2003) argued that Bangladeshicompanies and organizations have several problems to start full swing e-business. These includelimited resources, backwardness in technology, managerial inefficiency, socio-infrastructuralproblem such as corruption, default culture law and order situation, rampant corruption, strikeetc. which penetrate for a long time.Ali, Mohsin, and Yasmeen (2004) observed that maximizing e-business efforts to focus oninformation dissemination, knowledge transfer, and technical assistance is required. Steps needto create appropriate knowledge among various procedures of e-business.Research AimThe primary objective of this internship research report is to present a critical analysis onSatisfaction Level of Senior Citizen Bank Account in FSIBL4 Conceptual FrameworkFigure: Conceptual FrameworkResearch BackgroundBackground of the BankFirst Security Islami Bank Limited (FSIBL) was incorporated in Bangladesh on 29 August 1999as a banking company under Companies Act 1994 to carry on banking business. It obtainedpermission from Bangladesh Bank on 22 September 1999 to commence its activities. Thecommercial banking activities of the bank encompass a broad range of services includingaccepting deposits, making loans, discounting bills, conducting money transfer and foreignexchange transactions, and performing other related services such as safekeeping, collections andissuing guarantees, acceptances, and letter of credit.The company philosophy "A step ahead intime" has been precisely the essence of the legend of Asian success; the bank has been operating5 with talented and brilliant personnel, equipment with modern technology so as to make it mostefficient to meet the challenges of 21st century.Figure: Structural Framework of the BankAt first in 1999 the bank incorporated as First Security Bank Ltd. and then on January 01, 2009the bank changed its name and mode of business and incorporated as First Security Islami BankLtd.Mission Statement of the BankTo be the premier financial institution in the country by providing high-quality products andservices backed by latest technology and a team of highly motivated personnel to deliverexcellence in Banking.Each bank has to make a clear vision regarding the business strategy as well as the customersatisfaction. The visions of FSIBL are as follows –To contribute to the socio-economic development of the country.To attain the highest level of satisfaction through the extension of services by dedicated andmotivated professionals.To maintain continuous growth of market share by ensuring quality To provide ethics and transparency at all levels. To ensure sustainable growth and establish full value of the honorable shareholders and 6 Above all, to contribute effectively to the national economy.Banking Strategies of FSIBLFSIBL follows the following strategies to make their banking business more powerful. Thestrategies are -1) The first objective of FSIBL is to achieve our customer’s best satisfaction & win theirconfidence. FSIBL offers satisfactory and lucrative offers to the customers to make this.2) The second objective of the bank is to manage & operate the bank in the most efficientmanner.3) To identify customer’s need & monitor their perception towards meeting thoserequirements. 4) To review & update policies, procedures & practices to enhance the ability to extendbetter client services.5) To train & develop all employees & provide them adequate resources so that customerscan reasonably address.6) To promote organizational efficiency by disclosing company plans policies & proceduresopenly to the employees in a timely fashion. 7) To ensure a congenial working environment. 8) To diversify a portfolio in both retail & wholesale market.SWOT Analysis of FSIBLSWOT analysis means strength, weakness, opportunity and threat analysis of the company. It isvital for a bank to know the strength and opportunities they have. On the other hand, weaknessand threats are the area bank need to improve. Here SWOT analysis of FSIBL bank is givenbelow-Strength:Weakness: The first strength is that it is a Shariah-based Traditional network system and lack of full- bank. scale automation.7 By this time it has established an integral, Poor marketing of investment products. customer friendly relationship with its clients Lack of required information specifically onIt has prominent saving scheme named DPS SME. for a fixed or lower income group of people ofNo growth on career advancement. So thethis society. employee wants to switch elsewhere.It provides services even after the banking hourFSIBL Bank Ltd. does not have an individualto particular clients.marketing department.Sound profitability growth and high assets.They had limited advertising strategy on behalfExperienced management team.on their bank and accompanied byconservatism rule in this sector.Honest, sincere and dedicated employeecompetency.FSIBL Bank Ltd. does not use the share modeof investment. Full market shares and stable source of fund.Considerable attention to the recovery of theoverdue amount and or pre-overdue situation. High attention on individual performance. Attention to making a quality investment anddisposal of proposals. All the officials are dedicated and honest toserve their duty.As a whole, the human resource is the primarycapital of the division. Business ethics of the group is similar to theprinciples and values of mass people of ourcountryOpportunity: ThreatsThe scope of market penetration through Because of the intense competition, most of the8 diversified investment products. competitor banks of FSIBL Bank Ltd. areIncreasing awareness of Islamic banking coming up with new service line ATM.among the clients. The competitor banks of FSIBL Bank Ltd.Scope develops newly committed have more geographical coverage than FSIBLentrepreneurs. Bank Ltd.Countrywide branches have vast opportunities State law defers with the Islamic Shariah.to access in different kinds of business. In the money market of Bangladesh, there is noService charges in other banks are call money system of Islamic Shariah.comparatively higher than FSIBL Bank Ltd. Some other conventional banks have openedNo other banks could provide as much integral their Islamic banking branch. working atmosphere as FSIBL Bank Ltd. Bank introduce Islamic card, which is a firsttime in Bangladesh. Research ObjectivesThe research objectives are – 1) To find out the banking activities of the senior citizen customers2) To explain the baking satisfaction of the senior citizen customers3) To explain the marketing activities of the banks for senior citizens as target customersResearch QuestionThe main research question of this analysis is – how the marketing activities of the banks canretain the senior citizen customer satisfaction in banking?Literature ReviewExpansion of Senior Citizen Customers of the bankThe avowed strategy of the government in promoting financial inclusion has witnessed littlerealization as private and foreign banks have made hardly any progress in setting branches in9 remote and rural areas of the country though they control almost 75 percent of the bankingsector. For example, between February 2008 and December 2012 the percentage of branches ofthe bank in rural areas decreased from 57.94 to 57.20 percent, whereas the share of branches ofthe bank in urban areas increased from 42.06 to 42.80 percent. The disparity also exists betweenthe level of commitment of state-owned commercial banks and that of private and foreigncommercial banks. As of December 2012, for example, 63.97percent branches of state-ownedcommercial banks were located in rural areas, as opposed to only 38.08 percent branches ofprivate commercial banks. The foreign banks have yet to establish any branch in the countrysideas of December 2012 (Bangladesh Economic Review, 2013).Problem of Senior Citizen Customers of Banking Sector of BangladeshThe problem of the banking sector is widespread and is not related to banking system only. Theregulatory entity should be independent but accountable. Prudential regulation should be limitedto deposit-taking institutions and should be clearly separated from non-prudential regulation.The problem of lower profitability of bank is that it might reduce the tax and thus make a traceon the fiscal system where the bank is the number one source of tax under large tax unit of NBR.Moreover, the revenue target may face the hurdle from another side where the lower growth ofcredit may affect investment and growth, and thus tax collection. On the Performances ofBangladeshi Banking sector, foreign and national experts undertook some studies. Pandey (2006)stated that the easiest way to evaluate the performance of a firm is to compare its present ratiowith the past ratio. It gives an indicator of the direction of change and reflects whether the firm'sfinancial performance has improved, deteriorated or remained constant over time. Chowdhury and Ahmed (2009) observed that all the selected private commercial banks canachieve a stable growth of branches, employee, deposit, loans, and advances, net income, earningper share during 2002-2006. They indicate that the prospect of private commercial banks inBangladesh is brilliant. Chowdhury (2002) observed that the banking industry of Bangladesh is amixed one comprising nationalized, Private and foreign banks. Many efforts have been made toexplain the performance of these banks. Understanding the performance of the bank requiresknowledge about the profitability and the relationship between variables like market size, banksrisk and banks market size with the cost effectiveness.10 Possibilities of the Banking Sector of Bangladesh with more facilities to theSenior CitizensThere are enormous possibilities of the banking sector in Bangladesh if more and more servicescan be provided to the customers. These are discussed below:Banking sector of Bangladesh has an excellent opportunity to become a major sector of thenational economy. Bangladesh has a huge number of populations. This advantage may accelerateexpansion and growth of Bangladeshi banking industry. Bangladeshi banking sector is verymuch capable of ensuring proper quality of the product services as per requirement of the globalmarket. There are ten foreign banks active in Bangladesh, but no Japanese bank yet. So there aretremendous prospect for Japanese bank to open their branch in Bangladesh.Chowdhury and Islam (2007) stated that deposit and loan advances of nationalized commercialbanks (NCBs) are less sensitive to interest changes than those of Specialized Banks (SBs). So,SBs should not make an abrupt change in lending or deposit by following the NCBs. If NCBschange their lending rate, their deposit or loan and advances will be affected less than those ofCBs. Moreover, deposits of NCBs have higher volume and higher volatility than those of SBs.However, SBs offer higher deposit rates and charge higher lending rate than NCBs, which is whythe interest rate spread of SBs was superior to that of NCBs. Siddique and Islam (2001) pointedout that the commercial banks, as a whole are performing well and contributing to the economicdevelopment of the country. The average profitability of all Bangladeshi Banks collectively was0.09% during 1980 to 1995 which means that a profit of Tk.0.09 was earned by utilizing assetsof Tk.100 in every aspect of profit; banking sector contributes the national economy as well asthe individual organization. Despite overall growth of the banking sector positive, theperformance of different categories of banks was not equally attractive. Mujeri&Younus (2009)stated that the higher the noninterest income as a ratio of total assets of banks the lower interestrate spread. Similarly, the market share of deposit of a bank, statutory reserve requirement andNSD certificate interest rate affects the IRS. The analysis regarding banks group shows that IRSis significantly influenced by operating cost and classified loan of the state owned commercialbank and specialized banks while inflation, the operating cost market share of deposit, statutoryreserve requirement and taxes are important for the private commercial banks. On the other handnon-interest income, inflation, market share, and taxes matter for the Foreign Commercial banks.Khan (2008) stated that bank is evaluated based on profit and loss as the same way for other11 business. If the shareholders of the bank get more profit then, the bank is identified as successful.Banks can attain success if relevant risks are effectively controlled. Van Horne &Wachowicz(2005) stated that to evaluate a firm's financial condition and performance the financial analystneed to perform "checkups" on various aspects of a firm's financial health. A tool frequently usedthese checkup is a financial ratio.Performance Evaluation of Senior Citizenship Banking of BangladeshThe concept of financial results and research into its measurement is well advanced withinfinance and management fields. Recently a well-judged technique named CAMEL rating iswidely used for evaluating the performance of financial institutions, especially to banks. InBangladesh Bank as a Central Bank, which is regulatory body has been calculating this rating tillnow. This explanation talks about the performance of the banking sector under CAMELframework, which involves analysis and evaluation of the five crucial dimensions of businessoperations. We now evaluate the performance of banks by CAMEL framework. This assessmentis done for the four categories of banks, namely "state-owned commercial banks (SCBs),government-owned development financial institutions (DFIs), domestic private commercialbanks (PCBs), and foreign commercial banks (FCBs)".Capital adequacy is a measure of the financial strength of a bank, usually, express as a ratio of itsshareholders' fund to total assets. The ratio reflects the ability of a bank to withstand theunanticipated losses. This ratio has a positive relationship with the financial soundness of thebank. Asset quality is an important measure of the strength of banks. The ratio of non- performing loans and advances as a share of total and advanced is considered for the purpose ofanalysis. Also, the ratio of total loans and advances to total assets is utilized to measure theextent of deployment of assets in earning assets.12 Figure: Total Deposits by Senior Citizen Customers of Bangladesh by BanksBad Debts and Senior Citizen Customers of BangladeshTo wipe out unnecessarily and artificially inflated the size of balance sheet, uniform guidelinesof write-off introduced in 2003. According to the policy, banks may, at any time, classify write- off loans as bad/loss. Those loans, which have been classified as bad/loss for the last five yearsand above and loans for which 100 percent provisions have been kept, should be written-offimmediately. The total amounts of written-off bad debts from June 2004 to June 2012 indifferent categories of the bank are presented in the figure below.Figure: Bad Debt and Different Bank Categories of BangladeshSound management is the most important and inevitable pre-requisite for the strength andconcrete growth of any financial institution. Since indicators of management quality areprimarily specific to the individual institution, these cannot be easily aggregated across the13 sector. Also, it’s hard to draw any conclusion regarding management soundness based onquantitative indicators, as characteristics of a good management are rather qualitative in nature.Nevertheless, the total expenditure to total income, operating expenses to total costs, earningsand operating expenses per employee, and interest rate spread are used to portray managementsoundness. Technical competence & leadership of mid and senior level management, compliancewith banking laws and regulations, adequacy, conformity of sound internal policies, ability toplan and respond to changing circumstances, etc. are also taken into consideration to illustratethe quality of management.Research MethodologyIntroductionExamination for the paper is not just a procedure of amassing learning as it is considered once ina while. It is fairly about investigating the responses to the brought up issue in the paper and tomake a foundation of data which does not subsist at present. Before directing exploration in anyfields, it ought to be legitimately investigated which strategies for examination will be suitablefor the chosen subject and why the picked system is proper for the particular point (Merriam etal., 2009). In this segment, the significant instruments of investigation and kind of explorationwill be nitty gritty as this will help the perused to comprehend the expository procedure. Forfurther contemplations, the different confinements confronted while leading the investigation, forexample, the absence of asset, space, time and extension, the component or dependability,legitimacy, and genuineness will likewise be given.Quantitative Research MethodsAs per Wimmer and Dominick (2010), this strategy uses a stagnant and homogenous billow ofinquiries. All competitors are put through indistinguishable investigations and decisions.Questioners directing the meeting are not permitted to stray from the poll (Rugg&Petre, 2007).Quantitative methodology holds up until every one of the numbers being gathered beforeexamination starts. The Quantitative research additionally includes a few strategies forinformation accumulation, for example, phone overviews, mail reviews, and Internet studies. Inthese strategies, addressing is static or institutionalized all respondents are asked the sameinquiries, and there is no open door for subsequent inquiries. Quantitative examination obliges14 that the variables under thought be measured. The type of exploration is concerned with howfrequently a variable is available and for the most part, uses numbers to impart this sum(Palgrave.com, 2015). The Quantitative examination has certain favorable circumstances. One isthat the utilization of figures permits more noteworthy exactness in reporting results. Limitations of Quantitative Research MethodsOne of the confinements that are introducing this technique is that the idea of the specialist mayget weakened from the primary focus of the exploration paper after the fundamental rule of thestrategy considers scientific or numerical decision as opposed to generating them(Birley&Moreland, 1998).Research Approach of this research studyFor the current research, Inductive logic is distinct as fitting to a satisfaction of senior citizenbanking in Bangladesh. Using the explanation of the evidence and requirement of the researchpattern, inductive reasoning will help the explorers to ascertain essential suggestions and scrutinyof the secondary data collected. Additionally, this process takes up quantitative mode of datainvestigation as a section hence the inductive way of thinking will also clarify the relation amidthe dependent and independent variables of the analysis and the arithmetical illustration of thefacts by graphs and charts.Hypothesis Formationst 1 HypothesisThere is a positive relationship between the senior citizen customer satisfaction (Q1) and theeconomic development of the economy of Bangladesh (Q2)nd 2 HypothesisThere is a positive correlation between services provided to the senior citizen (Q3) and thegrowth of the bank (Q4).rd 3 HypothesisThere is a positive correlation between the moral ethics of the bank (Q5) and the satisfactionlevel of the senior citizen (Q1).15 Paradigm of Inquisition for this studyDepending on the previously mentioned sorting of analysis and study concept, there is apossibility of interconnected hypothesis selected for this specific research paper for the study ofsatisfaction of senior citizen in banking in commercial banks in a country. The most appropriateconcept which gives explanation of the present analysis is the combination of interpretive andphenomenological paradigm in which the actions of bank managers in usual scenario to satisfythe old aged customers is regarded as for the idea of customer retention doings in the financialenterprises and the entire economy of Bangladesh is linked to a unique framework of economicactivity while executing business and/or financial business deals with these special customers.Primary Data CollectionAs indicated by Cronholmet al. (2009), essential information is accumulated by the specialist forsome particular utilization identified with the targets of the paper. Strategies might assemble it,for example, singular examination as well as/polls. A survey is either topped off by the specialisthimself from the reactions given by the hopefuls or by the competitor himself/herself. Since theinformation is gathered for the specific utilization agreeing on the destinations of the explorationpaper, the henceforth significance is essential information. Since the information is collected bythe agent and observed in his vicinity, so there is a more noteworthy level of regulation in thesesorts of information (Cronholmet al., 2009). Such information gives a practical and all- encompassing perspective on the scientist, and better understanding is picked up. The control ofinclination is more in this sort of information. In any case, the essential information hasindividual burdens like the accumulation procedure obliges a considerable measure of time andis expensive. It needs gifted persons to dissect the information and is impossible by anunpractised person (RINOJ, 2012). The surrounding of the survey is discriminating for thissituation.ConclusionThis section hence summarizes in conciseness the philosophy, methodology, procedures ofinformation compilation and examination and principle of the study judging the essentialrationalizations of all methods and their restrictions. The major points to be considered at thetime of data study are that the investigation trails an expressive methodology with an inductivereasoning. The schemes and framework take after a diverse tactic of both qualitative andquantitative methods, and this depends on secondary information regarding data. These16 secondary data are denoted through graphs and tables depending on the statistical analysis takingthe help of the renowned statistical software, SPSS.Research AnalysisData CollectionThe data collection is one of the essential parts of a primary research study. This research studyis based on the marketing concept of bank. The core concept of the research work is to signifythe marketing and growth of the bank analyzing the senior citizen banking. Therefore, the seniorcitizens who are enjoying their retirement for last five years are chosen randomly to collect thedata using the random sampling process. Total numbers of 50 respondents are interviewed with aquestionnaire of 12 questions regarding the satisfaction of the senior citizen in the bankingactivities.The interview was conducted and the questionnaire was designed depending on the threehypotheses going to be tested and also to achieve the objectives which are discussed previouslyin the research study. This study is going to be conducted to analyze of satisfaction of seniorcitizen banking depending on three hypotheses. These hypotheses are going to be tested in thefollowing analysis. SPSS analysis will be used to test the following hypotheses depending on theprimary survey based on the interview of 50 sample respondents who were employed in differentorganizations of Bangladesh and are retired now.There are 12 responses collected in the Likert-style coding the responses from 1 to 5 dependingon the questionnaire selected. All the questionnaires will be treated as the variables whileconducting the analysis. There are many responses in the analysis and few questions are therefocused on a single hypothesis. Therefore, few new variables have to be formed with the similarkind of responses collected.This should be noticed that there are total 12 questions in the questionnaire and on the basis ofthese questions 12 variables are formed for this analysis. All the 12 variables are grouped in 4main variables for this analysis. These 4 variables are –Q1, representing the senior citizen customer satisfaction;17 Q2, representing the responses of the ex-employees regarding economic development of theeconomy of Bangladesh through banking for senior citizens;Q3, representing the banking services provided to the senior citizen; andQ4, representing the growth of the bank; andQ5, representing the moral ethics of the bankResearch AnalysisHypothesis TestingThe first part of this analysis will be a hypothesis testing. The hypothesis testing are conducted inthe following way,st 1 Hypothesis Testing:H0: There is a positive relationship between the senior citizen customer satisfaction (Q1) and theeconomic development of the economy of Bangladesh (Q2)H1: There is no positive relationship between the senior citizen customer satisfaction (Q1) andthe economic development of the economy of Bangladesh (Q2)st Data Analysis for 1 HypothesisTo test this hypothesis, the correlation and regression testing is conducted in the following study.In this hypothesis, two variables Q1 and Q2 are taken. These variables are defined as followsdepending on the interview questionnaire structured.Q1 can be defined as the variable reflecting the senior citizen customer satisfaction. Q1 is agrouped variable formed grouping the three variables, q1, q2, and q3.Q2 is reflecting the responses of the ex-employees regarding economic development of theeconomy of Bangladesh. Q2 is a grouped variable formed grouping the two variables, q4 and q5.18 Figure: Relationship between the senior citizen customer satisfaction and the economicdevelopment of the economy of BangladeshFrom the above correlation test, it can be concluded that there is a negative relationship betweenthe senior citizen customer satisfaction (Q1) and the economic development of the economy ofBangladesh (Q2). The value of Pearson’s correlation co-efficient of -0.145 explores that thoughthe customer satisfaction is rising but it has a very week negative impact on the overall economicdevelopment of Bangladesh.Table: 119 Table 2The value of t-statistics (-1.016) concludes that the null hypothesis should be rejected and thealternative hypothesis should be accepted.nd 2 Hypothesis Testing:H0: There is a positive correlation between banking services provided to the senior citizen (Q3)and the growth of the banking sector (Q4).H1: There is no positive correlation between services provided to the senior citizen (Q3) and thegrowth of the banking sector (Q4).nd Data Analysis for 2 hypothesisTo test this hypothesis, the correlation and regression testing is conducted in the following study.In this hypothesis, two variables Q3 and Q4 are taken. These variables are defined as followsdepending on the interview questionnaire structured.Q3 can be defined as the variable reflecting banking services provided to the senior citizen. Q3 isa grouped variable formed grouping the three variables, q6, q7, and q8.Q4 is reflecting the responses of the ex-employees regarding the growth of the banking sector inBangladesh. Q4 is a grouped variable formed grouping the two variables, q9 and q10.20 Figure: The relation between banking services provided to the senior citizen and thegrowth of the banking sectorFrom the above correlation test, it can be concluded that there is a positive relationship betweenthe banking services provided to the senior citizen (Q3) and the growth of the banking sector inBangladesh (Q4). The value of Pearson’s correlation co-efficient of 0.487 explores that thoughthe banking services provided to the senior citizen is rising but it has a mere positive impact onthe growth of the banking sector in Bangladesh.Table 321 Table 4The value of t-statistics (3.866) concludes that the null hypothesis should be accepted and thealternative hypothesis should be rejected.rd 3 Hypothesis:H0: There is a positive correlation between the moral ethics of the bank (Q5) and the satisfactionlevel of the senior citizen (Q1).H1: There is no positive correlation between the moral ethics of the bank (Q5) and thesatisfaction level of the senior citizen (Q1).rd Data Analysis for 3 HypothesisTo test this hypothesis, the correlation and regression testing is conducted in the following study.In this hypothesis, two variables Q5 and Q1 are taken. These variables are defined as followsdepending on the interview questionnaire structured.Q5 can be defined as the variable reflecting the moral ethics of the bank. Q5 is a groupedvariable formed grouping the three variables, q11 and q12.22 Figure: The relationship between the moral ethics of the bank and the satisfaction level ofthe senior citizenFrom the above correlation test, it can be concluded that there is a positive relationship betweenthe banking services provided to the moral ethics of the bank (Q5) and the satisfaction level ofthe senior citizen (Q1). The value of Pearson’s correlation co-efficient of 0.327 explores thatthough the banking services provided to the senior citizen is rising but it has a mere positiveimpact on the growth of the banking sector in Bangladesh.Table 523 Table 6The value of t-statistics (2.399) concludes that the null hypothesis should be accepted and thealternative hypothesis should be rejected.Research Findings and Discussionst The 1 hypothesis test shows that the senior customer satisfaction is negatively related to theeconomic development of the economy of Bangladesh. This is true that the customer satisfactionthat can affect the economic development should consider the overall population base of thecountry. Moreover, the overall responses are collected from the retired persons only. For thisreason, the analysis reflects the views of those persons only. The reality is most of the retiredpersons are not aware on the relation between the economic development and the growthpossibilities of banking sector.nd The 2 hypothesis explores that there is a direct impact on the growth of banking sector with theservices provided to the senior citizens. The more and more services mean the increase inmoreand more marginal customers of the banks. One of the key factors for the growth of bankingbusiness is to create the base of loyal customers. The multi-dimensional exploration of thebanking services for the senior citizens creates the loyal customer base for the banks.One of the important elements of marketing in any business is the moral and ethical issuesrelated to the business. Banking business is one of the trust related issues for all economies. Incase of the senior citizens, the ethical considerations of the banks are more important. Therefore,rd the third null hypothesis for the 3 hypothesis testing is accepted. In this occasion, it is provedfrom the testing that the moral ethics of the banks are positively related to the satisfaction levelof the senior citizen.24 Conclusion and RecommendationAfter the vast analysis of the whole study, specifically the SPSS analysis of the responses it canbe concluded that the analysis of the three hypotheses comes with three different types ofrecommendations for the marketing activities of the banks related senior citizen banking.st The 1 hypothesis talks about the senior citizen customer satisfaction and the economicdevelopment of the economy of Bangladesh. Therefore, it can be concluded that more and moremarketing are required to explore the possibilities of banking sector in Bangladesh and its effecton the future certainty of the old aged and retired persons. The banks have to take initiatives toeducate the senior citizens regarding the banking activities. The banks should conduct door todoor marketing to make this possible.nd The 2 hypothesis explores the positive correlation between banking services provided to thesenior citizen and the growth of the banking sector.Therefore, the marketing activities of thebanks can reach to the senior citizens with their services. These strategies of marketing can helpthe customers to take more and more services from the bank. Therefore, the marketing strategiescan boost the growth rates of the bank indirectly.rd The 3 hypothesis defines the correlation between the moral ethics of the bank and thesatisfaction level of the senior citizen. Therefore, it is highly recommended for the banks tomaintain the moral ethics with the senior citizens of the banks while doing the marketing relatedactivities. For instances, the banks should not have any hidden conditions applied for the seniorcitizens of the bank. The bank should disclose all the terms and conditions related to the interestrates, the returns on the fixed/term deposits, etc. The banks should introduce extra discountpolicies while marketing for any new plans or products for senior citizens. 25 "