1. ANALYZING CUSTOMER
EXPECTATIONS IN TRADE
FINANCE PRODUCTS WITH
RESPECT TO ING VYSYA BANK
Prepared by:
Payal Soneja
Summer Intern
ING VYSYA BANK Amity School of Economics

2. ING VYSYA BANK
• Founded in 1930, Vysya Bank was formally incorporated in the city
of Bangalore, Karnataka.
• ING Vysya Bank Ltd. (International Netherlands Group), is an entity formed
with the coming together of erstwhile, Vysya Bank Ltd, a premier bank in the
Indian Private Sector and a global financial powerhouse, ING of Dutch origin,
during Oct 2002.
• Shailendra Bhandari (CEO & MD) of INF Vysya bank and Arun Thiagarajan is
the chairman of the board
• India's Premier Private Sector Bank.
• Revenue: ₹16.6B ($320M)
ING VYSYA BANK

3. INTRODUCTION
OBJECTIVES
The objectives of my report are:
Broad Objective of the report is:
• To know about the customers’ expectation and satisfaction in trade finance
products of ING VYSYA Bank
Specific Objectives of the report are:
(i) The research will identify the problems faced by customers with the various
products in trade finance.
(ii) To compare the trade finance products and services offered by ING Vysya
Bank with other private banks (ICICI & HDFC and Axis Bank)
(iii) To thoroughly study the products & services of ING Vysya Bank.
(iv) To make recommendations for improving the quality of different services
provided to the customers by the Bank.
ING VYSYA BANK

4. SCOPE
The study will be able to reveal the preferences, needs, expectation of the
customers regarding the banking services, It also help banks to know whether the
existing products or services they are offering are really satisfying the customers’
needs. The main purpose of the research is to understand the customer’s
satisfaction level of the customers of different products and services offered by
ING Vysya Bank and its customers’ problems and the steps taken to improve
their facilities.
LIMITATIONS
• It was difficult to interview respondents as they were busy in their schedule,
and collection of data was very difficult. Therefore, the study had to be carried
out based on the availability of respondents.
• Accuracy:
It is difficult to know if all the respondents gave accurate information; some
respondents tend to give misleading information.
ING VYSYA BANK

5. LITERATURE REVIEW
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.
 What is customer satisfaction and why to measure it
 Accounts and services offered by ING Vysya bank
 Trade finance products offered by ING Vysya bank:
Buyer’s credit
Letter of credit
Bank guarantees
Remittance services
 Overview of ING Vysya bank.
ING VYSYA BANK

6. RESEARCH METHODOLOGY
All the conclusions are based on the survey done in the working within the time
limit. I have tried to select the sample representative of the whole group during my
training.
RESEARCH DESIGN
No research paper is complete without data collection and data analysis vital and
pertaining to the topic of the paper. In my research report, I have decided to use:
Firstly Exploratory Research, to determine the approximate area where the
problem lies according to the information needs of the bank and Descriptive
Research to discover answers to the questions who, what, when, where, and,
sometimes, how. My attempts to describe or define a subject, often by creating a
profile of a group of problems, people.
ING VYSYA BANK

7. SOURCES OF DATA COLLECTION
• Primary Data
I have chosen a Primary method of Data Collection which would suit this
type of Research Design. I have gathered the primary data through personal
interviews, questionnaires which I got filled by the customers of ING
Vysya bank and as well as the customers from other banks.
• Secondary Data
I have collected the secondary data from internal sources, such as official
records of the bank, annual reports and bank’s website.
ING VYSYA BANK

8. SURVEY METHOD
For conducting my research total sample size was 50 and my target population was
exporters, importers and contractors and a questionnaire was produced before the
them and their responses were recorded. I took the use of descriptive statistics to
analyze the data. For customer interview I used Convenience sampling method
which is a non-probability sample. Under this I had the freedom to choose
whomever they find, thus the name convenience.
DATA ANALYSIS TECHNIQUES
To analyze the Data Analysis and for the better presentation and right explanation I
have used Preliminary method of statistical data analysis which includes statistical
methods such as Pie Charts, Histograms, Bar diagrams, which shows how many
customers are satisfied from the bank‘s trade finance products.
ING VYSYA BANK

9. DATA ANALYSIS AND INTERPRETATION
The following information contains the data interpretation of the questionnaires.
The respondents’ responses for the questions have been interpreted and a finding
has been made based on the respondents responses.
ING VYSYA BANK

10. DEMOGRAPHIC ANALYSIS
GENDER
16%
MALE
FEMALE
84%
From the above chart, it can be seen that of the 50 respondents
84% of them were male and 16% were female
ING VYSYA BANK

11. AGE GROUP
50% 48%
40%
30% 32% BETWEEN 20-30
20% 10% BETWEEN 30-40
10%
0% 10% BETWEEN 40-50
BETWEEN MORE THAN 50
20-30 BETWEEN
30-40 BETWEEN
40-50 MORE THAN
50
From the above graph, 48% respondents belonged to the age category of 30yrs-
40yrs, 32% respondents belonged to the category of 40yrs-50 years, 10% of the
respondents belonged to the category of more than 50 years, and between 20yrs-
30yrs.
ING VYSYA BANK

12. OCCUPATION
8%
20%
72%
SALARIED SELF EMPLYED MANAGERIAL
From the above pie chart, 72% of the respondents were salaried , 20% of
the respondents were self employed, and 8% of the respondents were
managerial.
ING VYSYA BANK

13. EDUCTIONAL QUALIFICATION
52%
60%
50%
40% 26%
30% 16%
20% 6%
10%
0%
GRADUATE POST GRADUATE PROFESSIONAL M.PHIL/PHD.
COURSE
From the above graph, 26% of respondents are belonged to the category of
Graduate, 52% of respondents are belonged to the category of Post graduate, 16% of
respondents are belonged to the category of professional course, and 6% belonged to the
category of M.Phil./PHD
ING VYSYA BANK

14. PERCEPTION OF CUSTOMERS ABOUT ING VYSYA BANK
10%
Private
18.00%
Public
Private and public
60%
Don't know
12.00%
From the above analysis, perception of 60% of the respondents is that ING Vysya
bank is a private bank, while 12% of the respondents think that it is a public
bank, 18% of them think, the bank is both a private and public bank and 10% of the
respondents have no surety about the perception of the bank.
ING VYSYA BANK

15. THE TYPE OF INDUSTRY THE CUSTOMERS DEAL IN
4% ELECTRICALS AND
12% 18% ELECTRONIC APPLIANCES
APPAREL INDUSTRY
8%
CONSTRUCTION
MOBILE PHONES AND
ACCESSORIES
PHARMACEUTICAL
30%
22% GEMS AND JEWELLERY
HANDICRAFTS
6%
From the above chart, 30% of the respondents deal in apparel industry, 22%
of the 50 respondents deal in mobile phones and accessories, 18% deal in
electronics and electric appliances, 12% deal in gems and jewellery and a
total 18% deal in(handicrafts, pharmaceutical and construction industry).
ING VYSYA BANK

16. 12% 2%
16% 44%
26%
EXPORT IMPORT EXPORT/IMPORT CONTRACTORS TRADING
From the above chart, it can be inferred that 44% of the respondents deal in
export business, 26% deal in import business, 12% of the respondents deal in
construction business and 2% deal in trading business.
ING VYSYA BANK

17. CUSTOMERS HAVE ACCOUNTS WITH WHICH BANK
50% 46
45%
40%
34
35%
30%
25%
20%
15% 16
10%
5%
0% 4
ICICI Bank
ING Vysya Bank
HDFC Bank
AXIS Bank
As per the data collected and analyzed, ICICI Bank hold the accounts of 46% of the
respondents. Next rank comes to ING Vysya Bank with 34% of accounts. HDFC
Bank has captured 16% (speculative) of the accounts and AXIS Bank with 4%.
ING VYSYA BANK

18. REMITTANCE SERVICES 10%
CASH CREDIT/PACKING CREDIT 8%
BUYER'S CREDIT 14%
BANK GUARANTEE 24%
LETTER OF CREDIT
44%
0%
10%
20%
30%
40%
50%
ING VYSYA BANK

19. 60.00%
50.00%
40.00%
30.00% REMITTANCE…
CASH CREDIT
20.00%
BUYER'S CREDIT
10.00% BANK GUARANTEE
LETTER OF CREDIT
0.00%
ING VYSYA ICICI BANK HDFC AXIS BANK
BANK BANK
From the above analysis, maximum number of respondents (57% of them approx.) of
ING Vysya bank used buyer’s credit as their trade finance product. 41.67% of the
respondents of ICICI bank used letter of credit, 25% of the HDFC bank respondents
used both letter of credit as well as cash credit, and 25% of the AXIS bank respondents
used cash credit as their trade finance products.
ING VYSYA BANK

20. RATINGS GIVEN BY CUSTOMERS FOR THEIR PRODUCTS
4% 10.00%
14%
20.00%
52%
EXCELLENT VERY GOOD GOOD AVERAGE POOR
From this chart, it could be inferred that 42% of the consumers have rated services
and products offered by their respective banks as ‘good’, 22.5% of them have rated
them as ‘very good’, and 15% of them have rated as excellent and average’ while
only 5% have rated as ‘poor’.
ING VYSYA BANK

21. PARAMETER CUSTOMERS
14% Performance
16%
Performance 21 42% Customer
satisfaction
Customer 14
satisfaction speedy process
Speedy process 8
Easy to deal
28%
Easy to deal 7
Of the above parameters, Performance received a maximum rating of 42%, for
customer satisfaction; 28%and 16% for speedy process, and also 14% for easy to
deal.
ING VYSYA BANK

22. HOW SATISIFED CUSTOMERS ARE WITH PRDOUCTS OFFERED BY
ING VYSYA BANK
Highly Satisfied Neither satisfied Dissatisfied Highly
satisfied nor dissatisfied dissatisfied
14 22 10 3 1
28% 44% 20% 6% 2%
ING customers 4 8 4 1 0 17
The above table is a continuous rating scale (Non comparative scaling technique)
ING VYSYA BANK

23. 44%
45%
40%
35% 28%
30%
20%
25%
20%
15%
6%
10%
2%
5%
0%
Highly satisfied Satisfied Neither satisfied Dissatisfied Highly
nor dissatisfied dissatisfied
According to chart, 44% of the total respondents are satisfied with the products with
their respective banks, while 28% are highly satisfied from their current bank; only
4% are dissatisfied while 2% people are highly dissatisfied. Whereas of the
respondents 20% are such who are neither satisfied nor dissatisfied from the products
and services provided by their current bank.
ING VYSYA BANK

24. HOW SATISIFED CUSTOMERS ARE WITH PRDOUCTS OFFERED BY
ING VYSYA BANK
47.05%
50.00%
45.00%
40.00%
35.00%
30.00% 23.53% 23.53%
25.00%
20.00% 5.89%
15.00% 0
10.00%
5.00%
0.00%
Highly satisfied Satisfied Neither Dissatisfied Highly
satisfied nor dissatisfied
dissatisfied
17 ING customers were interviewed by me during the analysis.
Out of which, 47.05% (8 customers) of the respondents of ING bank were satisfied
by the products and services offered by the bank, 23.53% (4 customers) were
highly satisfied and some of them were neutral and 5.89%(1 customer) were
dissatisfied. The customers were having problems regarding the documentation and
the bank was not able to provide funds in given span of time.
ING VYSYA BANK

25. TYPE OF COLLATERAL TO OPERATE WITH THE BANK
8%
18%
42%
10%
22%
Saving account Current account Land/Property Fixed deposit Others
Above pie chart shows that 42% respondents have Saving A/Cs, and 22% have
Current A/Cs and rest of the respondents have 36% share of other A/Cs in total
(which includes fixed deposits, land/property, and other products)
ING VYSYA BANK

26. 50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
STRONGLY AGREE NEUTRAL DISAGREE STRONGLY
AGREE DISAGREE
The customers are satisfied with the banks sincerity in solving their personal or any
other problem. Most of the respondents agree with the above statement and none of the
customers are dissatisfied by the bank’s ability to solve their problems. So, on this
point of bank’s sincerity in problem solving the customers are seemed to be satisfied
ING VYSYA BANK

27. PROBLEMS FACED BY CUSTOMERS (IMPORTERS) OF ING VYSYA BANK
PRICE BECOMING LOW DUE TO EXCHANGE RATE 23%
FLUCTUATIONS
TOO MUCH DOCUMENTATION REQUIRED 15%
THE SHIPMENT SCHEDULE CANNOT BE MET 8%
BANK NOT ABLE TO ARRANGE FUNDS 31%
RATE ISSUES 23%
0% 5% 10% 15% 20% 25% 30% 35%
From the above graph, it can be inferred that most of the importers i.e. 31% of them have
their issue of bank not able to arrange funds in given span of time, 23% of them have their
issues regarding rate issues and exchange rate fluctuations, 15% of the importers have their
problems regarding documentation and 8% of them have their issues regarding the shipment
schedule not being met.
ING VYSYA BANK