A comparative study of customer friendly services of selected private & public sector bank in India: a case study of ICICI bank vs SBI

The customer orientation of the banking sector has significantly increased in recent times. The introduction of a variety of new products and services with emphasis on quality of services clearly indicate how banks address the issue of customer needs and requirements through a customer centric approach. The Indian banking sector continues to witness domination by the public sector banks. Over the last decade, the banking sector has witnessed the entry of many new private sector banks, resulting in momentous changes. A note worthy aspect of the private sector banks is their ability to command a proportionately higher share of net profit (9.8%), even though they have a lower share in terms of customer deposits. In comparison, the public sector banks’ share of total net profit is 70% and the share of deposits is 77%, these figures indicate lower profitability in terms of comparison of proportion of profits to deposits of private sector Indian banks.